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Registration number: 01814513

Burton Manor Sports Association Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Burton Manor Sports Association Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Burton Manor Sports Association Limited

(Registration number: 01814513)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

459,935

460,623

Current assets

 

Stocks

5

1,357

1,462

Debtors

6

898

1,142

Cash at bank and in hand

 

12,466

14,842

 

14,721

17,446

Creditors: Amounts falling due within one year

7

(19,903)

(21,764)

Net current liabilities

 

(5,182)

(4,318)

Total assets less current liabilities

 

454,753

456,305

Creditors: Amounts falling due after more than one year

7

(20,950)

(26,177)

Net assets

 

433,803

430,128

Reserves

 

Retained earnings

433,803

430,128

Surplus

 

433,803

430,128

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 

.........................................
Graham Paul Benson
Director

 

Burton Manor Sports Association Limited

(Registration number: 01814513)
Balance Sheet as at 30 September 2024

.........................................
Martin Grenville Shaw
Director

.........................................
Samuel Kompfner
Company secretary and director

 

Burton Manor Sports Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a company limited by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Burton Manor Road
Stafford
ST18 9AT

These financial statements were authorised for issue by the Board on 18 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Burton Manor Sports Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% on reducing balance

Land

0%

Buildings

2% straight line basis

Originally the buildings were depreciated on a 2% straight line basis, however as the directors believe that the buildings are valued at higher than the historical cost, no depreciation has been charged for the the current and prior years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Burton Manor Sports Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

The Company is limited by guarantee and does not have a share capital. Each member undertakes to contribute to the assets of the Company in the event of the same being wound up while a member or within one year after ceasing to be a member for payment of the debts and liabilities of the Company contracted prior to ceasing being a member up to and not exceeding one pound..

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 13).

 

Burton Manor Sports Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

474,293

22,841

497,134

At 30 September 2024

474,293

22,841

497,134

Depreciation

At 1 October 2023

16,752

19,830

36,582

Charge for the year

-

617

617

At 30 September 2024

16,752

20,447

37,199

Carrying amount

At 30 September 2024

457,541

2,394

459,935

At 30 September 2023

457,541

3,082

460,623

5

Stocks

2024
£

2023
£

Other inventories

1,357

1,462

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

290

Prepayments

898

852

 

898

1,142

 

Burton Manor Sports Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,201

6,099

Trade creditors

 

2,760

3,462

Taxation and social security

 

205

1,876

Accruals and deferred income

 

6,979

8,742

Other creditors

 

3,758

1,585

 

19,903

21,764

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

20,950

26,177

2024
£

2023
£

Due after more than five years

After more than five years by instalments

10,045

11,023

-

-

Creditors include bank loans repayable by instalments of £10,425 (2023 - £11,023) due after more than five years.

 

Burton Manor Sports Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

20,950

26,177

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,201

6,099

Bank borrowings

Bank loan with Lloyds Bank is denominated in Sterling , and the final instalment is due on January 2035 . The carrying amount at year end is £18,285 (2023 - £18,883).

The bank loan is secured on the freehold and all other assets.

The company also has a Bounce back loan with Lloyds Bank denominated in Sterling with a nominal interest rate of 2.5%. The final instalment is due on 30 September 2026. The carrying amount at the year end is £8,866 (2023 - £13,392)