Company No: 10465097 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTORS	I James
	J Rich
REGISTERED OFFICE	Worcester Rugby Football Club Offerton Lane
	Hindlip
	Worcester
	WR3 8TR
	United Kingdom
COMPANY NUMBER	10465097(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	1-3 College Yard
	Worcester
	WR1 2LB
BANKERS	Natwest
	1 The Cross
	Worcester
	WR1 3PR
SOLICITORS	Hallmark Hulme
	3-5 Sansome Place
	Worcester
	WR1 1UQ

		2021		2020
	Note	£		£
Fixed assets
Tangible assets	3	323		0
		323		0
Current assets
Stocks		6,792		7,572
Debtors	4	3,485		661
Cash at bank and in hand		40,176		49,946
		50,453		58,179
Creditors
Amounts falling due within one year	5	( 27,223)		( 53,391)
Net current assets		23,230		4,788
Total assets less current liabilities		23,553		4,788
Net assets		23,553		4,788
Capital and reserves
Called-up share capital		100		100
Profit and loss account		23,453		4,688
Total shareholder's funds		23,553		4,788

For the financial year ending 30 April 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of WRFC Bars Limited (registered number: 10465097) were approved and authorised for issue by the Board of Directors on 22 October 2021. They were signed on its behalf by:

I James Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

WRFC Bars Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Worcester Rugby Football Club Offerton Lane, Hindlip, Worcester, WR3 8TR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of WRFC Bars Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The Directors have prepared budgets and forecasts to for a period of at least 12 months following the date of approval of the financial statements. The Company has a net asset value at 30 April 2021 of £22,446 (2020: £4,788). At the year end the Company has net amounts due to related holdings of £21,141 (2019: £12,380).

The Directors’ assumptions and outlook consider the impact and uncertainty that the COVID-19 pandemic may have on the Company. Updated forecasts have been put in place for best and worst-case scenarios in order to make sure Company continues during these unprecedented times. This is being monitored regularly. The Directors have also taken advantage of the government assistance available where possible as a contingency. On this basis the financial statements have been prepared on a going concern basis.

The financial statements do not reflect the adjustments that would be necessary should the ability of the Company to operate be jeopardised.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 May 2020	0		0
Additions	404		404
At 30 April 2021	404		404
Accumulated depreciation
At 01 May 2020	0		0
Charge for the financial year	81		81
At 30 April 2021	81		81
Net book value
At 30 April 2021	323		323
At 30 April 2020	0		0

4. Debtors

	2021		2020
	£		£
Trade debtors	3,485		661

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Trade creditors	1,681		4,243
Amounts owed to Group undertakings	21,141		13,580
Other creditors	1,875		26,875
Corporation tax	1,540		29
Other taxation and social security	986		8,664
	27,223		53,391