Harlow Cricket Club Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06826734 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2022

for

Harlow Cricket Club Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C Clark

Mr S J Radbourne

Mrs J Tasker

Mrs T Sykes

Mr C R Messenger

Mr J R G Sykes

Mr S R Baulcomb

Mr P W Fisk

Mr R Qayyam

REGISTERED OFFICE:

Gothic House

1 High Street

Old Harlow

Essex

CM17 0DN

REGISTERED NUMBER:

06826734 (England and Wales)

ACCOUNTANTS:

Giess Wallis Crisp LLP

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

FIXED ASSETS

Tangible assets

4

712,131

735,570

CURRENT ASSETS

Stocks

3,723

2,552

Debtors

5

5,445

7,033

Cash at bank and in hand

87,224

65,283

96,392

74,868

CREDITORS

Amounts falling due within one year

6

16,846

8,158

NET CURRENT ASSETS

79,546

66,710

TOTAL ASSETS LESS CURRENT LIABILITIES

791,677

802,280

RESERVES

Income and expenditure account

791,677

802,280

791,677

802,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2022 and were signed on its behalf by:

Mrs J Tasker - Director

1.	STATUTORY INFORMATION

Harlow Cricket Club Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover

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 each asset over its estimated useful life.

Short leasehold

-

Straight line over 45 years and 3 months

Equipment, plant and machinery

-

Straight line over 5 years

Government grants

Grants relating to revenue are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Government grants have been presented as other operating income in the Income Statement.

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 has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 8 (2021 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Equipment,

Short

plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 April 2021

797,361

156,471

953,832

Additions

5,000

1,050

6,050

Disposals

-

(5,100

)

(5,100

)

At 31 March 2022

802,361

152,421

954,782

DEPRECIATION

At 1 April 2021

86,699

131,563

218,262

Charge for year

17,732

8,697

26,429

Eliminated on disposal

-

(2,040

)

(2,040

)

At 31 March 2022

104,431

138,220

242,651

NET BOOK VALUE

At 31 March 2022

697,930

14,201

712,131

At 31 March 2021

710,662

24,908

735,570

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

5,445

7,033

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

11,348

6,000

Taxation and social security

2,106

-

Other creditors

3,392

2,158

16,846

8,158

7.	LIMITED BY GUARANTEE

The company is Limited by Guarantee.