Bristol Bears Women Rugby Club Limited - Period Ending 2022-05-31

Bristol Bears Women Rugby Club Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Bristol Bears Women Rugby Club Limited

Company Information

Directors

P Beet L C Knights-Hume G T Marshall S A Halhead T D Tainton

Registered office

Ashton Gate Bristol BS3 2EJ

Auditors

PKF Francis Clark Statutory Auditor Ground Floor Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Bristol Bears Women Rugby Club Limited

Balance Sheet

31 May 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	5	1,201	438
Current assets
Debtors	6	17,308	1,812
Cash at bank and in hand		18,471	45,547
		35,779	47,359
Creditors: Amounts falling due within one year	7	(617,666)	(358,270)
Net current liabilities		(581,887)	(310,911)
Total assets less current liabilities		(580,686)	(310,473)
Deferred income	8	(2,620)	-
Net liabilities		(583,306)	(310,473)
Capital and reserves
Called up share capital	9	100	100
Profit and loss account		(583,406)	(310,573)
Shareholders' deficit		(583,306)	(310,473)

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 Board on 15 September 2022 and signed on its behalf by:
 

......................................... G T Marshall Director

Company Registration Number: 11460866

Bristol Bears Women Rugby Club Limited

Notes to the Financial Statements

Year Ended 31 May 2022

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Ashton Gate
Bristol
BS3 2EJ
United Kingdom

These financial statements were authorised for issue by the Board on 15 September 2022.

2	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.

Going concern

In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

The company has generated a loss after tax and has net current liabilities and net liabilities. The vast majority of these liabilities are intra group. While the club continues to develop, the company is dependent on ongoing group support to ensure it has adequate working capital to continue its operations. Such finance comes in the form of unsecured and interest free inter-company current accounts from the parent company, Bristol Rugby Club Limited. Bristol Rugby Club Limited is supported by Pula Sport Limited which invests in the group via debt injections which confirms the long term commitment that they and Mr & Mrs S P Lansdown have to the group. Pula Sport Limited has confirmed its ongoing support for the company and group.

The directors are confident that, taking into account the commitment by Bristol Rugby Club Limited and Pula Sport Limited, the company will have sufficient working capital throughout the 2022/23 season, and beyond for the foreseeable future, being not less than 12 months from the date of approval of these financial statements.

Having taken the above into account, and having made all necessary enquiries the directors consider it appropriate to prepare these financial statements using the going concern basis.

Bristol Bears Women Rugby Club Limited

Notes to the Financial Statements

Year Ended 31 May 2022

Key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key judgement that has a significant effect on the financial statements is in respect of going concern, as described in the accounting policy above.

The directors are satisfied that there are no key accounting estimates within the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for ticket sales, RFU funding, merchandise sales, sponsorship and advertising, and other rugby related income.

Turnover is shown net of value added tax, returns, rebates and discounts. Income from match days and those elements of commercial activities relating to matches is recognised when the related matches are played. Other commercial income is recognised on a receivable basis.

Government grants

Government revenue grants are accounted for under the accruals method. These are credited to the profit and loss account when the company is entitled to the income.

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	33% on a straight line basis

Bristol Bears Women Rugby Club Limited

Notes to the Financial Statements

Year Ended 31 May 2022

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company during the year, was 0 (2021 - 0).

Bristol Bears Women Rugby Club Limited

Notes to the Financial Statements

Year Ended 31 May 2022

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 June 2021	1,504	1,504
At 31 May 2022	1,504	1,504
Amortisation
At 1 June 2021	1,504	1,504
At 31 May 2022	1,504	1,504
Carrying amount
At 31 May 2022	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2021	751	751
Additions	1,280	1,280
At 31 May 2022	2,031	2,031
Depreciation
At 1 June 2021	313	313
Charge for the year	517	517
At 31 May 2022	830	830
Carrying amount
At 31 May 2022	1,201	1,201
At 31 May 2021	438	438

Bristol Bears Women Rugby Club Limited

Notes to the Financial Statements

Year Ended 31 May 2022

6

Debtors

	2022 £	2021 £
Trade debtors	168	-
Amounts due from group undertakings	14,929	-
Other debtors	485	1,812
Prepayments and accrued income	1,726	-
	17,308	1,812

7

Creditors

	2022 £	2021  £
Due within one year
Trade creditors	507	758
Amounts due to group undertakings	598,677	327,300
Accrued expenses	18,482	30,212
	617,666	358,270

8	Deferred income

	2022   £
Received during the year	2,620

9	Share capital

Allotted, called up and not fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Bristol Bears Women Rugby Club Limited

Notes to the Financial Statements

Year Ended 31 May 2022

10	Parent and ultimate parent undertaking

The company's immediate parent is Bristol Rugby Club Limited, incorporated in England & Wales.

 The ultimate parent is Pula Limited, incorporated in Guernsey.

 The most senior parent entity producing publicly available financial statements is Bristol Rugby Club Limited. These financial statements are available upon request from Ashton Gate, Bristol, BS3 2EJ

 The ultimate controlling party is Mr & Mrs S P Lansdown by virtue of their majority shareholding in Pula Limited, the ultimate parent.

11	Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Nicholas Farrant BA MSc FCA, who signed for and on behalf of PKF Francis Clark on 23 September 2022.