Company No: 03960554 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	906,239		856,237
		906,239		856,237
Current assets
Stocks		3,230		3,323
Debtors	4	50,362		26,321
Cash at bank and in hand		372,037		351,522
		425,629		381,166
Creditors: amounts falling due within one year	5	( 150,369)		( 160,179)
Net current assets		275,260		220,987
Total assets less current liabilities		1,181,499		1,077,224
Creditors: amounts falling due after more than one year	6	0		( 40,825)
Net assets		1,181,499		1,036,399
Reserves
Profit and loss account		1,181,499		1,036,399
Total reserves		1,181,499		1,036,399

For the financial year ending 31 March 2026 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Taunton Vale Sports Club Limited (registered number: 03960554) were approved and authorised for issue by the Board of Directors on 28 August 2026. They were signed on its behalf by:

L A Elliott Director

M G J Davenport Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Taunton Vale Sports Club Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Taunton Vale Sports Club Gipsy Lane, Staplegrove, Taunton, TA2 6LL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable and is comprised of:

Letting of courts and pitches are recognised in the period in which the land or property is occupied by the lessee.
Match fees are recognised at the time the match is scheduled to conclude.
Bar, food, and kit sales are recognised at the point of sale.
Sponsorship and subscription fees are recognised over the period to which they relate.
Donations and fundraising proceeds are recognised at the point at which funds are transferred.
Proceeds from tournaments and functions are recognised over the period to which they relate.
Proceeds from car park permits are recognised in the period in which the car park space is occupied by the lessee.
Rental income is recognised in the period the tenant occupies the land and property.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either other creditors or other debtors in the Balance Sheet.

Other Operating Income

Amounts receivable for goods or services provided that do not align with the principal activity of the company have been included under other operating income. This represents the fair value of the consideration received or receivable for the following goods and services provided:


Government grants are recognised as stated in the corresponding accounting policy.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	0 - 100 years straight line
Plant and machinery etc.	3 - 25 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and resale stocks for the bar. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants have been classified as either relating to revenue or relating to an asset.

Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as deferred income within the balance sheet.

Grants that are directly attributable to an asset are depreciated over the useful life of the asset and are presented as fixed assets within the balance sheet.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		12

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2025	2,382,752		306,020		2,688,772
Additions	74,014		25,085		99,099
Disposals	( 51,526)		0		( 51,526)
At 31 March 2026	2,405,240		331,105		2,736,345
Accumulated depreciation
At 01 April 2025	1,634,837		197,698		1,832,535
Charge for the financial year	32,459		16,638		49,097
Disposals	( 51,526)		0		( 51,526)
At 31 March 2026	1,615,770		214,336		1,830,106
Net book value
At 31 March 2026	789,470		116,769		906,239
At 31 March 2025	747,915		108,322		856,237

4. Debtors

	2026		2025
	£		£
Trade debtors	23,367		19,301
Other debtors	26,995		7,020
	50,362		26,321

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	1,776		10,448
Trade creditors	6,863		11,012
Other taxation and social security	7,118		10,469
Other creditors	134,612		128,250
	150,369		160,179

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

	2026		2025
	£		£
Bank loans	0		1,788
Other creditors	0		39,037
	0		40,825

There are no amounts included above in respect of which any security has been given by the small entity.

7. Liability of members

The members of the Taunton Vale Sports Club Limited have undertaken to contribute a sum not exceeding £10 each to meet the liabilities of the Company if it should be wound up.