| Croydon Gas Sports Club Limited |
| Registered number: |
03233097 |
| Balance Sheet |
| as at 31 March 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
263,952 |
|
|
282,079 |
|
|
|
|
263,952 |
|
|
282,079 |
|
| Current assets |
| Stocks |
|
|
5,876 |
|
|
3,500 |
| Debtors |
4 |
|
7,047 |
|
|
5,300 |
| Cash at bank and in hand |
|
|
130,212 |
|
|
100,549 |
|
|
|
143,135 |
|
|
109,349 |
|
| Creditors: amounts falling due within one year |
5 |
|
(76,432) |
|
|
(70,990) |
|
| Net current assets |
|
|
|
66,703 |
|
|
38,359 |
|
| Total assets less current liabilities |
|
|
|
330,655 |
|
|
320,438 |
|
| Net assets |
|
|
|
330,655 |
|
|
320,438 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
330,655 |
|
|
320,438 |
|
| Shareholders' funds |
|
|
|
330,655 |
|
|
320,438 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The detailed profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| J P Harrison |
| Director |
| Approved by the board on 13 December 2022 |
|
| Croydon Gas Sports Club Limited |
| Notes to the Accounts |
| for the year ended 31 March 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover, which is stated net of value added tax, represents monies invoiced to third parties, cash sales, subscriptions from members and donations. Subscriptions from members are shown in the accounts on a received basis. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
no depreciation provided |
|
Motor vehicles |
25% per annum straight line basis |
|
Plant and machinery |
25% per annum straight line basis |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2021 |
172,878 |
|
233,843 |
|
2,246 |
|
408,967 |
|
Additions |
- |
|
- |
|
- |
|
- |
|
Disposals |
- |
|
- |
|
- |
|
- |
|
At 31 March 2022 |
172,878 |
|
233,843 |
|
2,246 |
|
408,967 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2021 |
- |
|
124,642 |
|
2,246 |
|
126,888 |
|
Charge for the year |
- |
|
18,127 |
|
- |
|
18,127 |
|
On disposals |
- |
|
- |
|
- |
|
- |
|
At 31 March 2022 |
- |
|
142,769 |
|
2,246 |
|
145,015 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
172,878 |
|
91,074 |
|
- |
|
263,952 |
|
At 31 March 2021 |
172,878 |
|
109,201 |
|
- |
|
282,079 |
|
|
|
|
|
|
|
|
|
|
On incorporation, the company, acquired assets at a nil cost to the company, which were insured at a valuation of:-
Trade Contents and Ground Equipment - £205,000
Assets acquired since the date of incorporation have been capitalised in the normal manner.
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade debtors |
4,745 |
|
- |
|
Other debtors |
2,302 |
|
5,300 |
|
|
|
|
|
|
7,047 |
|
5,300 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade creditors |
9,331 |
|
2,824 |
|
Taxation and social security costs |
129 |
|
2,491 |
|
Other creditors |
66,972 |
|
65,675 |
|
|
|
|
|
|
76,432 |
|
70,990 |
|
|
|
|
|
|
|
|
|
| 6 |
Events after the reporting date |
|
|
The directors were not aware of any events after the reporting date which would materially affect the financial statements at the year end.
|
|
| 7 |
Pension commitments |
|
|
The company has a Nest Workplace pension. |
|
| 8 |
Contingent liabilities |
|
|
There is a legal charge with Natwest Bank PLC shown with Companies House on an old fulfilled mortgage which the company is taking action to have removed. |
|
| 9 |
Related party transactions |
|
|
Included in other creditors are amounts owed to the Directors of £7,337 (2021 - £7,337). |
|
| 10 |
Controlling party |
|
|
For the whole of the year the company was controlled by the director Mr J P Harrison |
|
| 11 |
Other information |
|
|
Croydon Gas Sports Club Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
48 Mollison Drive |
|
Wallington |
|
Surrey |
|
SM6 9BY |
|
| 12 |
Further information - land lease |
|
|
During the year ended 2015 the company leased part of the company's property for the sighting of a mobile phone mast. The amount involved is £27,500 of which £1,100 will be written to the profit and loss account annually over a period of 25 years. |
