The Royal Caledonian Curling Club - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC232571 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

The Royal Caledonian Curling Club

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

63,573

45,367

Investments

5

37,586

1

101,159

45,368

CURRENT ASSETS

Stocks

5,669

6,510

Debtors

6

239,495

285,122

Investments

7

-

38,160

Cash at bank

197,567

601,477

442,731

931,269

CREDITORS

Amounts falling due within one year

8

(286,975

)

(729,802

)

NET CURRENT ASSETS

155,756

201,467

TOTAL ASSETS LESS CURRENT LIABILITIES

256,915

246,835

CREDITORS

Amounts falling due after more than one year

9

(16,967

)

-

NET ASSETS

239,948

246,835

RESERVES

Income and expenditure account

239,948

246,835

239,948

246,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 3 June 2021 and were signed on its behalf by:

Mr G Lindsay - Director

1.	STATUTORY INFORMATION

The Royal Caledonian Curling Club is a private company, limited by guarantee, domiciled in Scotland, registration number SC232571. The registered office is Ochil House, Springkerse Business Park, Stirling, FK7 7XE.

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.

Turnover

Subscription income is recognised in the period in which the income is received and in the period in which the associated expenditure occurs. All other income is accounted for when received or in relation to the period earned.

Tangible fixed assets and depreciation

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

Freehold property

-

6.6% on cost and 3% on cost

Plant and machinery

-

25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Legal status

The company is limited by guarantee. The liability of each member of the company, in the event of its winding up, is limited to £1.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Listed investments

Investments in listed shares are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 May 2020

57,124

72,812

129,936

Additions

28,522

1,192

29,714

At 30 April 2021

85,646

74,004

159,650

DEPRECIATION

At 1 May 2020

29,762

54,807

84,569

Charge for year

3,597

7,911

11,508

At 30 April 2021

33,359

62,718

96,077

NET BOOK VALUE

At 30 April 2021

52,287

11,286

63,573

At 30 April 2020

27,362

18,005

45,367

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 May 2020

1

-

1

Reclassification/transfer

-

37,585

37,585

At 30 April 2021

1

37,585

37,586

NET BOOK VALUE

At 30 April 2021

1

37,585

37,586

At 30 April 2020

1

-

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

2,968

33,659

Other debtors

236,527

251,463

239,495

285,122

7.	CURRENT ASSET INVESTMENTS

30.4.21

30.4.20

£

£

Listed investments

-

38,160

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade creditors

26,845

4,091

Taxation and social security

3,356

5,140

Other creditors

256,774

720,571

286,975

729,802

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Other creditors

16,967

-

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

5,055

-