REGISTERED NUMBER: 08354020 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2025

for

CREDITON RUGBY FOOTBALL CLUB LIMITED

Page

Company Information

1

Chairman's Report

2

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

P Coupe

J A Foan

M J Gulley

R Holloway

T V S Newstead

DJ Park

E W Trick

E M Goodman

J P Harris

S L Keast

A J Knox

E J Yeandle

P Tearle

SECRETARY:

J A Foan

REGISTERED OFFICE:

1a Parliament Square

Parliament Street

Crediton

Devon

EX17 2AW

REGISTERED NUMBER:

08354020 (England and Wales)

ACCOUNTANTS:

Gravita Western Limited

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

The 2025-26 season has indeed been a remarkable one for many different reasons on and off the field.

A Trophy laden season for all the senior men's sides. With the first XV, whilst finishing as runners up in the league, we were the only side to defeat the league champions, Topsham. We took the Frank Webb Cup at Okehampton with an aggregate one point victory over the two games. Okehampton became an even happier hunting ground for the 1st XV as we also went there to win the Devon Senior Shield.

For the second XV, a remarkable double, winning the Counties 3 Devon NE League and gaining promotion to Counties 2 Devon. Following on from that we travelled to Torquay for the final of the 2nd's XV Shield where we had a comfortable victory over Torquay 2nd's.

The Third XV were Champions of a very competitive Devon Merit Table, probably the toughest Merit Table competition for a number of years. We held off the huge challenge of Barnstaple 3rd's and Ilfracombe 1st's. Although were then defeated by Barnstaple 3rd's in the David Butt Memorial Trophy Final, we contributed to a superb game which showed grassroots rugby at its best.

The Women's XV had a good year, continued to consolidate their position in NC1 South West (West). Despite some availability issues earlier on in the season, the squad rallied round and provided a solid finish to the season. Off the pitch, the ladies go from strength to strength with various socials, summer sports and an end of season tour to Bath. Hopefully a higher retention of U18 girls moving up to seniors next season will provide some more depth and competition for the upcoming season.

The Colts were always in a difficult group for the Colts Cup but nonetheless did the club proud in reaching the quarter final stage. The Club ethos is, we believe the correct one so far as the Colts are concerned, in that whilst it is nice to win trophies, it is equally important to keep players interested. In order to do that, then all players get equal game time during the season and we make full use of the half game rule. Some Clubs prefer the route of an elite squad which means some players don't get their share of game time as they simply pick their best players for each game. The benefit for us is that the Colts leave age grade rugby and filter into the senior sides. This seasons 3rd XV was indeed a very young side which seems to buck the trend of other Club 3rd XVs.

For the Veterans, our newest team, a season of success winning the inaugural Devon Wooden Spoon League and then defeating the combined League side to round things off. More Vets teams are joining this coming season and it promises to be a strong competition.

We continue to see excellent achievement coming out of CRFC with representation in the Exeter College Academy, Exeter Chiefs Academy, Devon U20's, England Students and England men and Womens U20's, and we follow with pride, Louie Gulley and his signing for Exeter Chiefs. Well done to all.

Our Junior Section is and has always been an important part of CRFC. It is here our young people learn the rugby values of Teamwork, Respect, Discipline and Sportsmanship. Skills that will support them through their rugby journey and in to adulthood. So many of our players go on to play in our senior teams and this is part of what make CRFC so special. Our Juniors have had an excellent season on and off the pitch, players joining our first year U9 were a record high, and all our teams have had the excitement of playing a couple of games on our main pitch. We have thoroughly enjoyed seeing our junior forming the tunnel onto the pitch for our 1st XV, and supporting as ball people. We have seen fantastic fund raising for portable training lights and the new river pitch cafe is just great on those wet Sunday mornings.

We continue to be top of our game off the pitch too, how we manage to juggle so many games for so many members, beats me every week! Challenging parking, not enough playing space, a clubhouse that really is past its best! Well it is the love indeed that many of our brilliant and enthusiastic volunteers have that keeps it all going and their dedication is just amazing. Our membership stands at a record 790, we have increased to 19 teams. Running this business takes a lot of money, but you can all help! Drink more from the bar, yes soft drinks or alcohol every bit helps and please also support by sharing the benefits to people who may like to sponsor with us. Last year 123 of our senior men, women, U18 girls and Colts were sponsored. These two areas are by far the biggest incomes which pay towards the running of CRFC.

It was the end of a 15 year long struggle of negotiations in January when we completed on the purchase of the 21.27 acres of land for the relocation of CRFC. Made possible through a mitigation payment from Lidl UK to MDDC via Section 106 Funding. This is a milestone mark, but much work remains to ensure our successful relocation. We now enter the realms of pitch designs, ball strike assessments, drainage designs, planning applications and consultations. Our short term plan is to put in a planning application for pitches and a stone carpark so this season we can use the area. We have a grant application in for a full pitch through the RFU. Our long term plan is to move in its entirety but there are many tackles to have and points to score before then.

Two memorable Presentation Award evenings, a brilliantly successful Beer and Cider Festival, the best ever supported Clean Up Day, would of happily brought the season to a close but no Jack Yeandle wanted to come home to Crediton for the final event of his Testimonial Year! Oh my goodness what a day, 1200 people visited Crediton to enjoy the fast pace of touch rugby, with teams made up from Chiefs players past and present, our own CRFC men and women, and a few non players to add to the mix. The weather was good, the food enjoyed and the beer flowed all 45 kegs of it! It indeed was the most memorable day.

So I raise my wine glass and please do so with me! We are tremendously proud of CRFC, and what this community club continues to achieve, the young people that develop through our club who turn into wonderful men and women, the volunteers who give up tireless amounts of energy and time, the highly successful team spirit both on and off the pitch, you need both for a winning result! Four years ago, I said jump on and join me on the CRFC bus, you did, we upgraded to a double decker and what a journey! I promised myself I would make my sons, James, Will, Matt and Scott proud, I did, they tell me they are in fact super proud of their mum, and it is because of them I now park up my imaginary bus! Thank you CRFC for allowing me, trusting me, and supporting me in being your first female Chairman not Chairperson nor a Chairlady, I was just your Chairman!

FIXED ASSETS

Tangible assets

4

624,463

257,935

Investments

5

1

-

624,464

257,935

CURRENT ASSETS

Stocks

-

21,045

Debtors

6

95,189

7,302

Cash at bank and in hand

149,507

179,439

244,696

207,786

CREDITORS

Amounts falling due within one year

7

(69,821

)

(39,540

)

NET CURRENT ASSETS

174,875

168,246

TOTAL ASSETS LESS CURRENT LIABILITIES

799,339

426,181

RESERVES

Income and expenditure account

799,339

426,181

799,339

426,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

E M Goodman - Director

1.	COMPANY INFORMATION

Crediton Rugby Football Club Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal place of business is Ground and Clubhouse, The Blagdon Ground, Exhibition Way, Crediton, Devon. EX17 1EP.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts chargeable in respect of fees and subscriptions by the rugby clubs members.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 1% reducing balance which is an estimate of the cost element of the club house included in the total over its useful economic life.

Plant and machinery etc - 15% reducing balance

Improvements to property - 7.5% reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Non government grants

Grants received from the RFU are included in the financial statements using the Accrual model. Grants relating to revenue are recognised in income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

Totals

£

£

£

£

COST

At 1 May 2024

159,165

68,867

112,205

340,237

Additions

374,913

-

4,737

379,650

At 30 April 2025

534,078

68,867

116,942

719,887

DEPRECIATION

At 1 May 2024

7,800

5,165

69,337

82,302

Charge for year

1,513

4,778

6,831

13,122

At 30 April 2025

9,313

9,943

76,168

95,424

NET BOOK VALUE

At 30 April 2025

524,765

58,924

40,774

624,463

At 30 April 2024

151,365

63,702

42,868

257,935

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

1

At 30 April 2025

1

NET BOOK VALUE

At 30 April 2025

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

(30

)

1,411

Amounts owed by group undertakings

15,479

350

Prepayments and accrued income

79,740

5,541

95,189

7,302

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

10,143

6,101

Social security and other taxes

950

849

VAT

27,574

3,247

Other creditors

25,862

22,788

Accruals and deferred income

5,292

6,555

69,821

39,540

8.	RELATED PARTY DISCLOSURES

With effect from 1 May 2024 the club's commercial activities have been operated through Crediton Rugby Football Club Commercial Limited which is a wholly owned subsidiary of Crediton Rugby Football Club Limited.

During the year, Crediton Rugby Football Club Commercial Limited has advanced various informal loans to Crediton Rugby Football Club Limited to support that entity's working capital requirements.

At the balance sheet date, the outstanding loan balance amounted to £8,108. The loan is interest free and repayable on demand.

Management charges amounting to £12,841 have been charged by Crediton Rugby Football Club Limited to Crediton Rugby Football Club Commercial Ltd representing 5% of the annual commercial income.

Crediton Rugby Football Club Commercial Limited is contracted to pay an amount of £12,698 to Crediton Rugby Football Club Limited under the terms of a legally binding resource sharing agreement between the two entities.

Crediton Rugby Football Club Commercial Limited has pledged to make a charitable donation of £71,330 which will be paid to Crediton Rugby Football Club Limited on or before 31 January 2026.