Egerton Park Indoor Bowls Club Limited - Accounts to registrar (filleted) - small 18.2
Egerton Park Indoor Bowls Club Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 MAY 2019 TO 31 AUGUST 2020 |
FOR |
EGERTON PARK INDOOR BOWLS CLUB LIMITED |
EGERTON PARK INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 00896130) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2019 TO 31 AUGUST 2020 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
EGERTON PARK INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 00896130) |
BALANCE SHEET |
31 AUGUST 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROFIT AND LOSS ACCOUNT |
Retained earnings |
MEMBERS' FUNDS |
EGERTON PARK INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 00896130) |
BALANCE SHEET - continued |
31 AUGUST 2020 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EGERTON PARK INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 00896130) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2019 TO 31 AUGUST 2020 |
1. | STATUTORY INFORMATION |
Egerton Park Indoor Bowls Club Limited is a |
Registered number: | 00896130 |
Registered office: | Egerton Park Pavilion |
Egerton Road |
Bexhill on Sea |
East Sussex |
TN39 3HL |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in future |
Turnover |
Turnover represents subscriptions and fees from members, green fees, bar income and other income exclusive of VAT where applicable. |
Tangible fixed assets |
Long leasehold | - |
Greens | - |
Equipment | - |
Computer equipment | - |
All fixed assets are initially recorded at cost. |
Government grants |
The entity has adopted the use of the accruals model in respect of grants received. |
Any grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in Other income, in the period to which it relates. |
EGERTON PARK INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 00896130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2019 TO 31 AUGUST 2020 |
3. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment. |
If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
EGERTON PARK INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 00896130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2019 TO 31 AUGUST 2020 |
5. | TANGIBLE FIXED ASSETS |
Long | Computer |
leasehold | Greens | Equipment | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2019 |
Additions |
At 31 August 2020 |
DEPRECIATION |
At 1 May 2019 |
Charge for period |
At 31 August 2020 |
NET BOOK VALUE |
At 31 August 2020 |
At 30 April 2019 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
PAYE and social security |
Pensions payable | 60 | - |
Social section funds | 1,940 | 1,940 |
Junior section funds | 1,195 | 1,195 |
Unallocated sponsorships | 288 | 288 |
Income in Advance | 1,780 | - |
Ladies Section Funds | 3,890 | - |
Accruals and deferred income |
EGERTON PARK INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 00896130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2019 TO 31 AUGUST 2020 |
8. | RELATED PARTY DISCLOSURES |
The company is controlled by the directors, who contribute to and benefit from the club's facilities on the same basis as other members. |
The Articles of Association of the company forbid the directors to receive remuneration or emoluments of any kind. |
No transactions with related parties were undertaken such as are required to be disclosed under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |