Paignton Rugby Football Club Ltd - Period Ending 2020-05-31
Paignton Rugby Football Club Ltd - Period Ending 2020-05-31
Year Ended
Registration number:
Paignton Rugby Football Club Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Paignton Rugby Football Club Ltd
Company Information
Directors |
Mr N J Bodnar Mr G Davies Mrs S L Davies Mr R G Hunt Mr N P Moloney Mr D Siddall Mr J D Back Mr O Sinar |
Company secretary |
Mr G D Nelson-Smith |
Registered office |
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Accountants |
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Paignton Rugby Football Club Ltd
Balance Sheet
31 May 2020
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2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Other reserves |
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Income and expenditure account |
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Total equity |
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Paignton Rugby Football Club Ltd
Balance Sheet
31 May 2020
For the financial year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 06901014
Paignton Rugby Football Club Ltd
Notes to the Financial Statements
Year Ended 31 May 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
The turnover shown in the Statement of Income and Retained Earnings represents amounts receivable during the year, exclusive of Value Added Tax. Turnover is recognised in the period to which it relates.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
20% straight line |
Paignton Rugby Football Club Ltd
Notes to the Financial Statements
Year Ended 31 May 2020
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 June 2019 |
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At 31 May 2020 |
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Depreciation |
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At 1 June 2019 |
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Charge for the year |
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At 31 May 2020 |
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Carrying amount |
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At 31 May 2020 |
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At 31 May 2019 |
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Stocks |
2020 |
2019 |
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Other inventories |
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Paignton Rugby Football Club Ltd
Notes to the Financial Statements
Year Ended 31 May 2020
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Loans and borrowings |
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Trade creditors |
- |
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Social security and other taxes |
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Accrued expenses |
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Creditors: amounts falling due after more than one year
Note |
2020 |
2019 |
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Loans and borrowings |
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Loans and borrowings |
2020 |
2019 |
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Loans and borrowings due after one year |
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Other borrowings |
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2019 |
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Current loans and borrowings |
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Other borrowings |
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Reserves |
Other reserves relate to the accumulated surplus donated from the old club on incorporation.
Distribution of reserves on winding up/dissolution of the club |
If upon the winding up or dissolution of the club there remains after the satisfaction of all its debts and liabilities any property whatsoever, the same shall be paid to or distributed to another community amateur sports club for rugby union, to the RFU for use in community related rugby union initiatives, or to a charitable organisation.