The Reeth Sporting Society Limited - Accounts to registrar (filleted) - small 22.3
The Reeth Sporting Society Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2022 |
| for |
| The Reeth Sporting Society Limited |
| The Reeth Sporting Society Limited (Registered number: 03926182) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| The Reeth Sporting Society Limited |
| Company Information |
| for the Year Ended 31 March 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| The Reeth Sporting Society Limited (Registered number: 03926182) |
| Balance Sheet |
| 31 March 2022 |
| 31.3.22 | 31.3.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| RESERVES |
| Income and expenditure account |
| 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 Reeth Sporting Society Limited (Registered number: 03926182) |
| Balance Sheet - continued |
| 31 March 2022 |
| 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 |
| The Reeth Sporting Society Limited (Registered number: 03926182) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| The Reeth Sporting Society Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Income |
| Income comprises revenue recognised by the company in respect of goods and services supplied and grants received during the year. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| The Reeth Sporting Society Limited (Registered number: 03926182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| AMORTISATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| The Reeth Sporting Society Limited (Registered number: 03926182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Hire purchase contracts |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Hire purchase contracts | 22,417 | - |
| Hire purchase contracts are secured against the assets which they relate to. |
| 10. | RELATED PARTY TRANSACTIONS |
| Each director is a life member of the club. Their total contributions during the year were £30,756 (2021: £35,941). |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of the life members who are also directors of the company. |
| 12. | DEPARTURE FROM THE COMPANIES ACT TO SHOW A TRUE AND FAIR VIEW |
| In producing the financial statements, the company has departed from the statutory headings used in the Income statement as given in the Companies Act. The company has produced an income and expenditure account to reflect the operations of the company as explained in note 13, to show a true and fair view. |
| The Reeth Sporting Society Limited (Registered number: 03926182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 13. | NON PROFIT MAKING CLUB |
| Under the club's constitution, it is prevented from distributing any profit to its members but must apply such profits for the improvement and continuance of the club's sporting facilities. The transfer of the excess income over expenditure to the facilities improvement reserve reflects this. The facilities improvement reserve will be utilised over future years for the improvement and continuance of the club's facilities. |
| 14. | PENSION COMMITMENTS |
| The company operates a defined pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. the pension cost charge represents contributions payable by the company to the fund and amounted to £1,830 (2021: £4,287). |