LONGTON RUGBY UNION FOOTBALL CLUB LIMITE - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07279629 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

FOR

LONGTON RUGBY UNION FOOTBALL CLUB

LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

6

FIXED ASSETS

Tangible assets

4

284,652

289,907

Investments

5

1

1

284,653

289,908

CURRENT ASSETS

Debtors

6

11,633

46,815

Cash at bank and in hand

146,961

149,814

158,594

196,629

CREDITORS

Amounts falling due within one year

7

(4,945

)

(47,779

)

NET CURRENT ASSETS

153,649

148,850

TOTAL ASSETS LESS CURRENT LIABILITIES

438,302

438,758

RESERVES

Retained earnings

438,302

438,758

438,302

438,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2020 and were signed on its behalf by:

Mr J P Moss - Director

1.	STATUTORY INFORMATION

LONGTON RUGBY UNION FOOTBALL CLUB LIMITED is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07279629

Registered office:

C/O DPC Accountants

Stone House

55 Stone Road Business Park

Stoke on Trent

Staffordshire

ST4 6SR

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about LONGTON RUGBY UNION FOOTBALL CLUB LIMITED as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgements that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows

i) Estimated useful lives and residual values of fixed assets

As described in the notes to the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

ii) Valuation of leasehold property

Leasehold property is stated in the balance sheet at cost less depreciation. The directors are of the opinion that the year-end value is not materially different to current market prices observed.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long leasehold

-

straight line over the life of the lease

Fixtures and fittings

-

15% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

The depreciation on the leasehold properties is straight line over the life of the lease of 100 years. This is currently 50 years, with an automatic option for the company to renew, for a further 50 years.

Any additions to the leasehold property are depreciated to tie in with the term of the lease.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Long

and

property

leasehold

fittings

Totals

£

£

£

£

COST

At 1 May 2019

1,760

319,661

109,379

430,800

Additions

-

-

761

761

At 30 April 2020

1,760

319,661

110,140

431,561

DEPRECIATION

At 1 May 2019

-

49,383

91,510

140,893

Charge for year

-

3,221

2,795

6,016

At 30 April 2020

-

52,604

94,305

146,909

NET BOOK VALUE

At 30 April 2020

1,760

267,057

15,835

284,652

At 30 April 2019

1,760

270,278

17,869

289,907

Included in cost of land and buildings is freehold land of £ 1,760 (2019 - £ 1,760 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2019

and 30 April 2020

1

NET BOOK VALUE

At 30 April 2020

1

At 30 April 2019

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Other debtors

11,633

46,815

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

-

1,715

Amounts owed to group undertakings

1,951

37,250

Taxation and social security

779

6,694

Other creditors

2,215

2,120

4,945

47,779

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption from the disclosures according to FRS 102 Section 33.1A, regarding the transactions between fellow group companies, where the subsidiary party to the transaction is wholly owned by such a member

9.	LIMITED BY GUARANTEE

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to its assets, in the event of it being wound up while they are a member or within one year after they cease to be a member.