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Registered number: 01393846
Grimsby Squash Rackets Club Limited(The)
Unaudited Financial Statements
For The Year Ended 31 January 2025
Grimsby Squash Rackets Club Limited(The)
Contents
Contents

| Page
--- | ---
Statement of Financial Position | 1—2
Notes to the Financial Statements | 3—5

Page 1
Grimsby Squash Rackets Club Limited(The)
Statement of Financial Position
As At 31 January 2025
Statement of Financial Position
Registered number: 01393846

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 690,909 |  | 702,322
|  |  | 690,909 |  | 702,322
CURRENT ASSETS
Stocks | 5 | 13,690 |  | 12,766 |
Debtors | 6 | 28,614 |  | 24,309 |
Cash at bank and in hand |  | 113,011 |  | 133,233 |
|  | 155,315 |  | 170,308 |
Creditors: Amounts Falling Due Within One Year | 7 | (176,973 ) |  | (213,957 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (21,658 ) |  | (43,649 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 669,251 |  | 658,673
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (12,159 ) |  | (22,339 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (12,840 ) |  | (11,865 )
NET ASSETS |  |  | 644,252 |  | 624,469
CAPITAL AND RESERVES
Called up share capital | 9 |  | 900 |  | 900
Income Statement |  |  | 643,352 |  | 623,569
SHAREHOLDERS' FUNDS |  |  | 644,252 |  | 624,469

Page 1
Page 2
Grimsby Squash Rackets Club Limited(The)
Statement of Financial Position (continued)
As At 31 January 2025
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board

Mr John Mountain Director | Mr John Mountain Director
28th February 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Grimsby Squash Rackets Club Limited(The)
Notes to the Financial Statements
For The Year Ended 31 January 2025
Notes to the Financial Statements
1. General Information
Grimsby Squash Rackets Club Limited(The) is a private company, limited by shares, incorporated in England & Wales, registered number 01393846 . The registered office is Millfields 53 Bargate, Grimsby, North East Lincolshire, DN34 5AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | Not depreciated
Plant & Machinery | 25% straight line
Fixtures & Fittings | 20% reducing balance

2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
Grimsby Squash Rackets Club Limited(The)
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
2.8. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2024: 34)
34 34
4. Tangible Assets

| Land & Property
--- | ---
| Freehold | Plant & Machinery | Fixtures & Fittings | Total
| £ | £ | £ | £
Cost
As at 1 February 2024 | 713,073 | 23,889 | 707,995 | 1,444,957
Additions | - | - | 1,795 | 1,795
As at 31 January 2025 | 713,073 | 23,889 | 709,790 | 1,446,752
Depreciation
As at 1 February 2024 | 74,997 | 23,889 | 643,749 | 742,635
Provided during the period | - | - | 13,208 | 13,208
As at 31 January 2025 | 74,997 | 23,889 | 656,957 | 755,843
Net Book Value
As at 31 January 2025 | 638,076 | - | 52,833 | 690,909
As at 1 February 2024 | 638,076 | - | 64,246 | 702,322

5. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Materials | 13,690 |  | 12,766

6. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 22,914 |  | 19,565
Prepayments and accrued income | 5,700 |  | 4,744
| 28,614 |  | 24,309

Page 4
Page 5
Grimsby Squash Rackets Club Limited(The)
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
7. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 22,173 |  | 46,474
Bank loans and overdrafts | 10,204 |  | 9,952
Corporation tax payable | 7,470 |  | 5,905
VAT control account | 28,305 |  | 30,000
PAYE control account | 7,036 |  | 6,578
Sundry creditors | 19,888 |  | 29,729
Deposits taken | 23,250 |  | 22,870
Accruals < 1 year | 8,462 |  | 12,264
Directors' loan accounts | 50,185 |  | 50,185
| 176,973 |  | 213,957

8. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans | 12,159 |  | 22,339

9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 900 |  | 900

Page 5