Kings Head Sporting Club Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01252221 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Kings Head Sporting Club Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

5

2,232,998

2,274,380

Current assets

Stocks

19,001

20,199

Debtors

6

14,318

Cash in hand

507

700

33,826

35,217

Creditors

Amounts falling due within one year

7

(364,712

)

(398,668

)

Net current liabilities

(330,886

)

(363,451

)

Total assets less current liabilities

1,902,112

1,910,929

Creditors

Amounts falling due after more than one
year

8

(656,275

)

(687,036

)

Provisions for liabilities

(181,191

)

(177,608

)

Net assets

1,064,646

1,046,285

Capital and reserves

Called up share capital

10,200

Revaluation reserve

10

995,629

1,024,125

Retained earnings

10

58,817

11,960

1,064,646

1,046,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 profit or loss 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 29 September 2025 and were signed on its behalf by:

Mr A E Wimmer - Director

1.	Statutory information

Kings Head Sporting Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01252221

Registered office:

The Kings Head Sporting Club

Bawburgh

Norwich

Norfolk

NR9 3LS

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is provided at the following annual rates so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset:

Freehold property - 4% on cost

Fixtures and fittings - 10% and 15% on cost

Stocks

Costs incurred in property development activities including an appropriate amount of overheads, are included within work in progress.

Work in progress is valued on the basis of direct costs plus attributable overheads based on a normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

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 are 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. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

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

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	Employees and directors

The average number of employees during the year was 30 (2023 - 31 ) .

5.	Tangible fixed assets

Fixtures

Freehold

Short

and

property

leasehold

fittings

Totals

£

Cost or valuation

At 1 January 2024

2,396,544

247,856

221,888

2,866,288

Additions

-

15,500

At 31 December 2024

2,396,544

247,856

237,388

2,881,788

Depreciation

At 1 January 2024

359,128

35,272

197,508

591,908

Charge for year

47,932

4,957

3,993

56,882

At 31 December 2024

407,060

40,229

201,501

648,790

Net book value

At 31 December 2024

1,989,484

207,627

35,887

2,232,998

At 31 December 2023

2,037,416

212,584

24,380

2,274,380

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Short

and

property

leasehold

fittings

Totals

£

Valuation in 1993

133,761

-

133,761

Valuation in 1997

45,614

-

45,614

Valuation in 2005

367,830

-

367,830

Valuation in 2009

55,000

-

55,000

Valuation in 2017

317,546

-

317,546

Valuation in 2023

505,067

-

505,067

Cost

971,726

247,856

237,388

1,456,970

2,396,544

247,856

237,388

2,881,788

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

1,188,332

Freehold land and buildings were valued on an open market basis on 31 December 2023 by the directors .

6.

Debtors: amounts falling due within one year

2024

2023

£

Other debtors

14,318

7.

Creditors: amounts falling due within one year

2024

2023

£

Bank loans and overdrafts

140,361

168,865

Trade creditors

64,606

49,049

Taxation and social security

98,152

89,658

Other creditors

61,593

91,096

364,712

398,668

8.

Creditors: amounts falling due after more than one year

2024

2023

£

Bank loans

656,275

687,036

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

348,755

379,516

9.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

Bank overdrafts

63,481

91,985

Bank loans

733,155

763,916

796,636

855,901

The bank loan and mortgages are secured by fixed and floating charges over the company's assets. Amounts due under hire purchase agreements are secured on the assets to which they relate.

10.

Reserves

Retained

Revaluation

earnings

reserve

Totals

£

At 1 January 2024

11,960

1,024,125

1,036,085

Profit for the year

18,361

Excess depreciation of revalued
assets

28,496

(28,496

)

-

At 31 December 2024

58,817

995,629

1,054,446

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

11.	Ultimate controlling party

The controlling party is Mr A E Wimmer.