The Wilbraham Club Ltd

(Registration number: 06494901)
Balance Sheet as at 28 February 2025

......................................... Mr M Cleminson Director

The Wilbraham Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
Lancashire
PR2 2YP

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 as the director has confirmed that he will continue to support the company to enable it to meet its obligations as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

The Wilbraham Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold improvements	25% reducing balance
Fixtures and fittings	25% reducing balance
Computer equipment	33% on cost

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.

Stocks

The cost of stock comprises direct purchase cost and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell; the impairment loss is recognised immediately in profit or loss.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

The Wilbraham Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2024 - 13).

The Wilbraham Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4	Loss before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	1,115	1,258

5	Tangible assets

	Leasehold improvements £	Fixtures and fittings £	Computer equipment £	Total £
Cost or valuation
At 1 March 2024	6,270	26,768	971	34,009
Additions	-	686	-	686
At 28 February 2025	6,270	27,454	971	34,695
Depreciation
At 1 March 2024	6,005	23,258	971	30,234
Charge for the year	66	1,049	-	1,115
At 28 February 2025	6,071	24,307	971	31,349
Carrying amount
At 28 February 2025	199	3,147	-	3,346
At 29 February 2024	265	3,510	-	3,775

6

Stocks

	2025 £	2024 £
Stock	3,000	3,000

7

Debtors

Current	Note	2025 £	2024 £
Amounts owed by related parties		-	941
Prepayments		826	795
Other debtors		17,020	17,020
		17,846	18,756

The Wilbraham Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and borrowings	9	109,701	101,068
Trade creditors		13,639	7,359
Taxation and social security		10,932	18,729
Other creditors		17,229	2,310
		151,501	129,466

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	2,500	12,500

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,500	12,500

	2025 £	2024 £
Current loans and borrowings
Bank borrowings	10,000	10,000
Bank overdrafts	3,287	-
Director's loan account	96,414	91,068
	109,701	101,068