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Registered number: 12121635
Maesteg Celtic Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2024
HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
NP10 8FY
Contents
Page
Company Information 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—5
Page 1
Company Information
Director Mr R P McGee
Company Number 12121635
Registered Office Maesteg Celtic
Bridgend Road
Maesteg
CF34 0NE
Accountants HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
NP10 8FY
Page 1
Page 2
Abridged Balance Sheet
Registered number: 12121635
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,017 22,838
15,017 22,838
CURRENT ASSETS
Stocks 6,789 5,679
Debtors 42,301 42,301
Cash at bank and in hand 4,697 21,707
53,787 69,687
Creditors: Amounts Falling Due Within One Year (172,934 ) (163,326 )
NET CURRENT ASSETS (LIABILITIES) (119,147 ) (93,639 )
TOTAL ASSETS LESS CURRENT LIABILITIES (104,130 ) (70,801 )
NET LIABILITIES (104,130 ) (70,801 )
CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and Loss Account (104,131 ) (70,802 )
SHAREHOLDERS' FUNDS (104,130) (70,801)
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr R P McGee
Director
2 May 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Maesteg Celtic Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12121635 . The registered office is Maesteg Celtic, Bridgend Road, Maesteg, CF34 0NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company balance sheet is showing negative reserves due to losses made in this and the prior financial periods. The directors have recently recruited a new management team along with implementing new control systems and marketing drive to attract additional events to increase sales. Maesteg Celtic RFC have also committed to provide ongoing support as required. For these reasons the director consider that the going concern basis is appropriate.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period the revision and future periods where the revisions affects both current and future periods
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight line
Plant & Machinery 20% Straight line
Computer Equipment 20% Straight line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
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4. Tangible Assets
Total
£
Cost
As at 1 September 2023 39,098
As at 31 August 2024 39,098
Depreciation
As at 1 September 2023 16,260
Provided during the period 7,821
As at 31 August 2024 24,081
Net Book Value
As at 31 August 2024 15,017
As at 1 September 2023 22,838
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
6. Related Party Transactions
Maesteg Celtic Rugby Football ClubParent companyIncluded in current liabilities is a loan provided by the company's parent company, Maesteg Rugby Football Club, by way of investment of £118,589 (2023: £99,839). No interest has been charged and there is no fixed repayment term and therefore deemed as repayable on demand and disclosed within current liabilities

Maesteg Celtic Rugby Football Club

Parent company

Included in current liabilities is a loan provided by the company's parent company, Maesteg Rugby Football Club, by way of investment of £118,589 (2023: £99,839). No interest has been charged and there is no fixed repayment term and therefore deemed as repayable on demand and disclosed within current liabilities

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