Pewsey Vale Rugby Football Club Ltd 31/05/2018 iXBRL

Pewsey Vale Rugby Football Club Ltd 31/05/2018 iXBRL

PEWSEY VALE RUGBY FOOTBALL CLUB LTD - Company Information

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Company registration number: 6902517
Pewsey Vale Rugby Football Club Ltd
Company limited by guarantee
Unaudited filleted financial statements
31 May 2018
Pewsey Vale Rugby Football Club Ltd
Company limited by guarantee
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Pewsey Vale Rugby Football Club Ltd
Company limited by guarantee
Directors and other information
Directors Mr P A J Curle
Mrs E Haynes
Lt Col M T Haynes
Mr P Mason
Mr S P Park
Company number 6902517
Registered office 7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Accountants Charlton Baker Ltd
7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Pewsey Vale Rugby Football Club Ltd
Company limited by guarantee
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Pewsey Vale Rugby Football Club Ltd
Year ended 31 May 2018
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2018 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Charlton Baker Ltd
Chartered Accountants
7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
26 February 2019
Pewsey Vale Rugby Football Club Ltd
Company limited by guarantee
Statement of financial position
31 May 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 71,015 39,643
_______ _______
71,015 39,643
Current assets
Cash at bank and in hand 9,739 28,553
_______ _______
9,739 28,553
Creditors: amounts falling due
within one year 6 ( 13,691) ( 9,669)
_______ _______
Net current (liabilities)/assets ( 3,952) 18,884
_______ _______
Total assets less current liabilities 67,063 58,527
_______ _______
Net assets 67,063 58,527
_______ _______
Capital and reserves
Profit and loss account 67,063 58,527
_______ _______
Members funds 67,063 58,527
_______ _______
For the year ending 31 May 2018 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 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 26 February 2019 , and are signed on behalf of the board by:
Mr S P Park
Director
Company registration number: 6902517
Pewsey Vale Rugby Football Club Ltd
Company limited by guarantee
Notes to the financial statements
Year ended 31 May 2018
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is , 7-7c Snuff Street, Devizes, Wiltshire, SN10 1DU.
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
The total income in the year is derived from members subscriptions , fundraising , sponsors , awards and donations.
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 - 20 % 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.
4. Limited by guarantee
The company is limited by guarantee. No Director holds any interest in the company, other than as a guarantor, and none of the directors received any remuneration or benefits from the company.
5. Tangible assets
Long leasehold property Plant and machinery Total
£ £ £
Cost
At 1 June 2017 36,563 3,180 39,743
Additions 31,988 - 31,988
_______ _______ _______
At 31 May 2018 68,551 3,180 71,731
_______ _______ _______
Depreciation
At 1 June 2017 - 100 100
Charge for the year - 616 616
_______ _______ _______
At 31 May 2018 - 716 716
_______ _______ _______
Carrying amount
At 31 May 2018 68,551 2,464 71,015
_______ _______ _______
At 31 May 2017 36,563 3,080 39,643
_______ _______ _______
6. Creditors: amounts falling due within one year
2018 2017
£ £
Other creditors 13,691 9,669
_______ _______