Company registration number 07058302 (England and Wales)
THUNDER RUGBY LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
THUNDER RUGBY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
THUNDER RUGBY LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
30 June 2024
30 November 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
2,180
Current assets
Debtors
4
28
3,603
Cash at bank and in hand
2,352
4,242
2,380
7,845
Creditors: amounts falling due within one year
5
(21,509)
(42,003)
Net current liabilities
(19,129)
(34,158)
Total assets less current liabilities
(19,129)
(31,978)
Creditors: amounts falling due after more than one year
6
(4,015,144)
(3,996,424)
Net liabilities
(4,034,273)
(4,028,402)
Capital and reserves
Called up share capital
7
125
125
Profit and loss reserves
(4,034,398)
(4,028,527)
Total equity
(4,034,273)
(4,028,402)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on
08 August 2025
08 August 2025
and are signed on its behalf by:
I Kurdi
Director
Company registration number 07058302 (England and Wales)
THUNDER RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Thunder Rugby Limited is a private company limited by shares incorporated in England and Wales. The registered office is Newcastle Falcons, Kingston Park Stadium, Brunton Road, Kenton Bank Foot, Newcastle Upon Tyne, NE13 8AF.

1.1
Reporting period

The reporting period was shortened to 30 June 2024 for commercial reasons. The current period presents the financial statements of the company for the 7 months from 1 December 2023 to 30 June 2024 and as such the prior period financial statements (including related notes) for the year ended 30 November 2023 are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements of the company are consolidated in the financial statements of Newcastle Rugby Limited, the ultimate parent company. These consolidated financial statements are available from its registered office, Newcastle Falcons RFU, Kingston Park, Brunton Road, Newcastle upon Tyne, NE13 8AF.

1.3
Going concern

The company ceased trading on 1 December 2023 and is completely reliant on its trueowner to meet any liabilities as they fall due. As such the financial statements have been prepared on a going concern basis.

1.4
Turnover

Turnover represents income receivable from the company's principal activities and is exclusive of value added tax. Match day receipts are recognised on the day of the game, with season ticket and hospitality box income being spread over the course of the season. Sponsorship and similar income is recognised over the duration of the respective contracts. Centrally distributed income arising from broadcasting revenue is recognised over the duration of the playing season. Commercial income is recognised as goods and services are supplied. Amounts relating to future accounting periods are carried forward within accruals and deferred income.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33.3% straight line and 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

THUNDER RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received, if considered material to the financial statements.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

THUNDER RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
1
27
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 December 2023
17,261
Disposals
(3,241)
At 30 June 2024
14,020
Depreciation and impairment
At 1 December 2023
15,081
Depreciation charged in the period
418
Eliminated in respect of disposals
(1,479)
At 30 June 2024
14,020
Carrying amount
At 30 June 2024
-
0
At 30 November 2023
2,180
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28
1,283
Other debtors
-
0
2,320
28
3,603
THUNDER RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
20,494
20,230
Trade creditors
959
13,489
Taxation and social security
56
6,361
Other creditors
-
0
1,923
21,509
42,003
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
134,506
147,211
Other creditors
3,880,638
3,849,213
4,015,144
3,996,424
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
47,881
61,682
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
125
125
125
125
8
Parent company

The company's ultimate parent undertaking is Newcastle Rugby Limited, a company incorporated in England and Wales.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Material uncertainty related to going concern

THUNDER RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
9
Audit report information
(Continued)
- 6 -

In forming our opinion on the company financial statements, which are not modified, we have considered the adequacy of the disclosure made in note 1.2 to the financial statements concerning the company’s ability to continue as a going concern. The company ceased trading and is completely reliant on the continuing support of the owner in order to meet their outstanding loan obligations as they fall due. This indicates the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern. The company financial statements do not include the adjustments that would result if the company was unable to continue as a going concern. Our opinion is not modified in respect of this matter.

The senior statutory auditor was Maxine Pott.
The auditor was Sumer Auditco Limited.
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