Guisborough Rugby Union Football Club Limited 31/12/2024 iXBRL

Company registration number: 11078490

Guisborough Rugby Union Football Club Limited

Company limited by guarantee

Unaudited filleted financial statements

31 December 2024

Guisborough Rugby Union Football Club Limited

Company limited by guarantee

Contents

Statement of financial position

Notes to the financial statements

Guisborough Rugby Union Football Club Limited

Company limited by guarantee

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	6	41,808		55,333
		_______		_______
			41,808		55,333

Current assets
Stocks		5,871		7,958
Debtors	7	4,039		1,268
Cash at bank and in hand		116,662		102,375
		_______		_______
		126,572		111,601
Creditors: amounts falling due
within one year	8	( 34,041)		( 43,636)
		_______		_______
Net current assets			92,531		67,965
			_______		_______
Total assets less current liabilities			134,339		123,298

Creditors: amounts falling due
after more than one year	9		( 6,250)		( 8,750)
			_______		_______
Net assets			128,089		114,548
			_______		_______

Capital and reserves
Profit and loss account			128,089		114,548
			_______		_______
Members funds			128,089		114,548
			_______		_______

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:

Prof G Henderson S Oatway

Director Director

Company registration number: 11078490

Guisborough Rugby Union Football Club Limited

Company limited by guarantee

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by guarantee, registered in England. The address of the registered office is Guisborough RUFC, Belmangate, Guisborough, TS14 7BB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The club is a Community Amateur Sports Club and hence Corporation Tax is only payable on interest receivable and non mutual trading income over the certain levels.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Limited by guarantee

The Company is a company limited by guarantee. The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the Company in the event of it being wound up.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 3 ).

6. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£	£
Cost
At 1 January 2024 and 31 December 2024	30,132	59,966	29,527	119,625
	_______	_______	_______	_______
Depreciation
At 1 January 2024	18,831	28,371	17,090	64,292
Charge for the year	3,766	7,569	2,190	13,525
	_______	_______	_______	_______
At 31 December 2024	22,597	35,940	19,280	77,817
	_______	_______	_______	_______
Carrying amount
At 31 December 2024	7,535	24,026	10,247	41,808
	_______	_______	_______	_______
At 31 December 2023	11,301	31,595	12,437	55,333
	_______	_______	_______	_______

Included within Long leasehold property are the clubhouse and associated playing fields. The original cost of these assets was £145,000 but by the date of gift to Guisborough Rugby Union Football Club Limited, had been depreciated down to a net book value of £1. These assets were gifted to Guisborough Rugby Union Football Club Limited on 1st April 2018.

7. Debtors

	2024	2023
	£	£
Other debtors	4,039	1,268
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	1,875	1,875
Trade creditors	10,808	5,806
Corporation tax	10	10
Social security and other taxes	3,073	3,215
Other creditors	18,275	32,730
	_______	_______
	34,041	43,636
	_______	_______

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	6,250	8,750
	_______	_______

10. Bank and Cash

2024 2023

£ £

Current account 23,439 36,412

Deposit account 33,137 16,074

200 Club account 4,641 4,089

Mini and Junior's current account 49,472 40,785

Cash in hand 5,973 5,015

_______ _______

116,662 102,375

_______ _______