| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| WIMBLEDON SQUASH AND BADMINTON |
| COURTS LIMITED(THE) |
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| WIMBLEDON SQUASH AND BADMINTON |
| COURTS LIMITED(THE) |
| WIMBLEDON SQUASH AND BADMINTON |
| COURTS LIMITED(THE) (REGISTERED NUMBER: 00314509) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| WIMBLEDON SQUASH AND BADMINTON |
| COURTS LIMITED(THE) |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| 4th Floor Tuition House |
| 27-37 St George's Road |
| Wimbledon |
| London |
| SW19 4EU |
| WIMBLEDON SQUASH AND BADMINTON |
| COURTS LIMITED(THE) (REGISTERED NUMBER: 00314509) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors: amounts falling due after more than one year |
4 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings | 7 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WIMBLEDON SQUASH AND BADMINTON |
| COURTS LIMITED(THE) (REGISTERED NUMBER: 00314509) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Wimbledon Squash and Badminton Courts Limited(The) is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Freehold premises are stated at cost, which includes improvements and professional fees to 31 March 1970. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Debtors and creditors due in more than one year are discounted at a relevant interest rate. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Exceptional items |
| Items which are deemed as non-recurring, or outside the normal activity of the company are classified as exceptional items. Exceptional items are disclosed separately in the income statement, and its related notes. |
| Intercompany loan |
| The intercompany loan owed by the parent company is recognised initially at fair value and discounted to give the present value of the asset. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Amounts owed by group undertakings comprise a loan at a fair value of £2,169,812 and £130,188 loan interest. |
| 5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed to group undertakings |
| WIMBLEDON SQUASH AND BADMINTON |
| COURTS LIMITED(THE) (REGISTERED NUMBER: 00314509) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal value: | 2021 | 2020 |
| £ | £ |
| 4,800 | Ordinary shares | 25p | 1,200 | 1,200 |
| 2,400 | 7% cumulative participating Preference shares | £1 | 2,400 | 2,400 |
| 3,600 | 3,600 |
| 7. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 October 2023 |
| Profit for the year |
| At 30 September 2024 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | RELATED PARTY DISCLOSURES |
| As at 30 September 2024, the amount owed to the majority shareholder of the company, Wimbledon Racquets and Fitness Club Limited, amounted to £7,892 (2023 - £7,892). No interest is payable on this balance. |
| During the previous year the company transferred ownership of the freehold property held by it and occupied by the Wimbledon Racquets & Fitness Club Limited (WRFC) to WRFC at a valuation of £2,300,000. This amount is treated as an intercompany loan in debtors falling due after more than one year. The intercompany loan will only become payable 12 months and one day after the date on which a repayment is requested. The loan is interest free. The loan was discounted at a 6% interest rate which resulted in a distribution to the parent of £130,188 and interest receivable of £130,188. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The company is 93% controlled by Wimbledon Racquets and Fitness Club Limited, a company incorporated in England and Wales which is a member's only club and is limited by guarantee. |
| 11. | DIRECTORS' LIABILITY INSURANCE |
| The directors are covered by the liability insurance taken out in the name of Wimbledon Racquets and Fitness Club Limited. |