Wolverhampton Lawn Tennis Club Limited Filleted accounts for Companies House (small and micro)

WOLVERHAMPTON LAWN TENNIS CLUB LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00337166

Wolverhampton Lawn Tennis Club Limited

Filleted Financial Statements

30 September 2019

Wolverhampton Lawn Tennis Club Limited

Statement of Financial Position

30 September 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	4		6,872	6,872

Creditors: amounts falling due within one year	5	188		188
		----------		----------
Net current liabilities			188	188
			----------	----------
Total assets less current liabilities			6,684	6,684

Creditors: amounts falling due after more than one year	6	1,182	1,182
		----------	----------
Net assets		5,502	5,502
		----------	----------

Capital and reserves

Called up share capital	2,934	2,934
Capital redemption reserve	200	200
Profit and loss account	2,368	2,368
	----------	----------
Shareholders funds	5,502	5,502
	----------	----------

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 comprehensive income has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 8 June 2020 , and are signed on behalf of the board by:

S Calrow
Director

Company registration number: 00337166

Wolverhampton Lawn Tennis Club Limited

Notes to the Financial Statements

Year ended 30 September 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Neville Lodge, Newbridge Crescent, Wolverhampton, WV6 0LH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) 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.

(b) Revenue recognition

Turnover represents rents receivable.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

(d) Tangible assets

No depreciation is provided on Land and buildings or Tennis courts. It is the company's policy to ensure that such property is maintained in a continuous state of sound repair and improved from time to time. Accordingly, the directors consider that the life of the property is so long and residual values, based on prices prevailing at the time of acquisition, are so high that its depreciation is insignificant. Any permanent diminution in the value of such property is charged to the profit and loss account as appropriate.

(e) Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tangible assets

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 October 2018 and 30 September 2019	5,141	1,731	6,872
	----------	----------	----------
Depreciation
At 1 October 2018 and 30 September 2019	–	–	–
	----------	----------	----------
Carrying amount
At 30 September 2019	5,141	1,731	6,872
	----------	----------	----------
At 30 September 2018	5,141	1,731	6,872
	----------	----------	----------

5. Creditors: amounts falling due within one year

	2019	2018
	£	£
Other creditors	188	188
	----------	----------

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

	2019	2018
	£	£
Other creditors	1,182	1,182
	----------	----------

The debenture stock is secured on the freehold property and is wholly owned by Wolverhampton Lawn Tennis and Squash Club. It is repayable only at the request of that club. No provision has been made for the interest thereon which has been waived.

7. Summary audit opinion

The auditor's report for the year dated 8 June 2020 was unqualified.

The senior statutory auditor was Christopher Morris BSc FCA , for and on behalf of Muras Baker Jones Limited .

8. Related party transactions

The ultimate control of the company is with Wolverhampton Lawn Tennis and Squash Club which owns 98.77% of the company's share capital. No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102.