Egerton Park Indoor Bowls Club Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00896130 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2021

FOR

EGERTON PARK INDOOR BOWLS CLUB LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

169,701

179,989

CURRENT ASSETS

Stocks

850

850

Debtors

6

1,019

2,398

Cash at bank and in hand

140,302

118,608

142,171

121,856

CREDITORS

Amounts falling due within one year

7

30,082

35,907

NET CURRENT ASSETS

112,089

85,949

TOTAL ASSETS LESS CURRENT LIABILITIES

281,790

265,938

PROFIT AND LOSS ACCOUNT

Retained earnings

281,790

265,938

MEMBERS' FUNDS

281,790

265,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 profit or loss 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2021 and were signed on its behalf by:

Mr J L Denton - Director

Mr C M Phillimore - Director

1.	STATUTORY INFORMATION

Egerton Park Indoor Bowls Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00896130

Registered office:

Egerton Park Pavilion

Egerton Road

Bexhill on Sea

East Sussex

TN39 3HL

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in future.

Turnover

Turnover represents subscriptions and fees from members, green fees, bar income and other income exclusive of VAT where applicable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Greens

-

10% on cost

Equipment

-

25% on reducing balance

Computer equipment

-

33% on cost

All fixed assets are initially recorded at cost.

Government grants

The entity has adopted the use of the accruals model in respect of grants received.

Any grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in 'Other income', in the period to which it relates.

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 only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 5 ) .

5.	TANGIBLE FIXED ASSETS

Long

Computer

leasehold

Greens

Equipment

equipment

Totals

£

£

£

£

£

COST

At 1 September 2020

391,311

71,353

189,138

526

652,328

Additions

-

-

141

-

141

At 31 August 2021

391,311

71,353

189,279

526

652,469

DEPRECIATION

At 1 September 2020

227,176

61,498

183,139

526

472,339

Charge for year

7,826

1,095

1,508

-

10,429

At 31 August 2021

235,002

62,593

184,647

526

482,768

NET BOOK VALUE

At 31 August 2021

156,309

8,760

4,632

-

169,701

At 31 August 2020

164,135

9,855

5,999

-

179,989

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

140

VAT

199

324

Prepayments and accrued income

820

1,934

1,019

2,398

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

2,348

16,119

PAYE and social security

518

499

Pensions payable

-

60

Social section funds

1,940

1,940

Junior section funds

1,195

1,195

Unallocated sponsorships

288

288

Income in Advance

2,292

1,780

Ladies Section Funds

3,890

3,890

Accruals and deferred income

17,611

10,136

30,082

35,907

8.	RELATED PARTY DISCLOSURES

The company is controlled by the directors, who contribute to and benefit from the club's facilities on the same basis as other members.

The Articles of Association of the company forbid the directors to receive remuneration or emoluments of any kind.

No transactions with related parties were undertaken such as are required to be disclosed under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.