Coolhurst Lawn Tennis and Squash Rackets - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07435660 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

COOLHURST LAWN TENNIS AND SQUASH RACKETS

CLUB

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J H Taylor

S L Nardelli

SECRETARY:

Lion Corporate Services Limited

REGISTERED OFFICE:

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

REGISTERED NUMBER:

07435660 (England and Wales)

AUDITORS:

Collards

Chartered Accountants

Registered Auditors

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

FIXED ASSETS

Tangible assets

4

1,311,814

1,150,918

Investments

5

3,490

3,490

1,315,304

1,154,408

CURRENT ASSETS

Stocks

4,943

6,684

Debtors

6

20,247

2,500

Cash at bank and in hand

161,370

224,104

186,560

233,288

CREDITORS

Amounts falling due within one year

7

535,898

280,824

NET CURRENT LIABILITIES

(349,338

)

(47,536

)

TOTAL ASSETS LESS CURRENT LIABILITIES

965,966

1,106,872

CREDITORS

Amounts falling due after more than one year

8

228,675

489,690

NET ASSETS

737,291

617,182

RESERVES

Income and expenditure account

737,291

617,182

MEMBERS' FUNDS

737,291

617,182

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2021 and were signed on its behalf by:

R J H Taylor - Director

1.	STATUTORY INFORMATION

Coolhurst Lawn Tennis and Squash Rackets Club 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.

Turnover

Turnover represents Club income arising from subscriptions, other membership income and bar receipts. These are stated exclusive of VAT.

Subscription income is accounted for on the accruals basis, so that the income reflected in the income statement is time apportioned to the financial year to which the subscriptions relate.

Tangible fixed assets

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

Tennis courts

-

10% on cost

The policy is to depreciate improvements to leasehold premises over the useful life of the assets, after taking into account residual values. Since, however, the club intends to maintain these improvements, the useful life is considered to be as long as the club is in existence. No depreciation charge is therefore required.

Future upkeep costs will be charged in the accounts when incurred. The directors are of the opinion that the market value of the club's fixed assets is in excess of the book value, but in the absence of a professional valuation this excess cannot be quantified.

Renewals

Asset renewals are written off in the year of expenditure when the amounts involved are immaterial.

Government grants

Income from government and other grants, including the Coronavirus Job Retention Scheme Grant, whether 'capital' grants or 'revenue' grants, is recognised when the company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2019 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Long

leasehold

Tennis

improvements

courts

Totals

£

£

£

COST

At 1 January 2020

945,375

313,815

1,259,190

Additions

-

191,325

191,325

At 31 December 2020

945,375

505,140

1,450,515

DEPRECIATION

At 1 January 2020

-

108,272

108,272

Charge for year

-

30,429

30,429

At 31 December 2020

-

138,701

138,701

NET BOOK VALUE

At 31 December 2020

945,375

366,439

1,311,814

At 31 December 2019

945,375

205,543

1,150,918

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2020

and 31 December 2020

3,490

NET BOOK VALUE

At 31 December 2020

3,490

At 31 December 2019

3,490

The investment comprises a holding in Nuthurst Proprietary Ltd. Club members Peter Knight, Martin Hearn and Ivor Henderson jointly held, as trustees on behalf of the Club, 2,000 ordinary shares of £1 each representing 100% of the company's voting rights and 1,490 5% preference shares of £1 each, representing 97% of the preference shares in issue.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

20,247

2,500

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

18,225

11,110

Taxation and social security

3,943

6,533

Other creditors

513,730

263,181

535,898

280,824

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

228,675

489,690

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Addison FCA (Senior Statutory Auditor)

for and on behalf of Collards