The Northumberland County Recreation Ground Limited - Period Ending 2020-11-08
The Northumberland County Recreation Ground Limited - Period Ending 2020-11-08
Registration number:
The Northumberland County Recreation Ground Limited
Filleted
for the Year Ended 8 November 2020
The Northumberland County Recreation Ground Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
The Northumberland County Recreation Ground Limited
Company Information
Directors |
A. T. Heather P. J. Nicholson |
Registered office |
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Solicitors |
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Bankers |
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Accountants |
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The Northumberland County Recreation Ground Limited
(Registration number: 00080699)
Statement of Financial Position as at 8 November 2020
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 8 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the Income Statement has been taken.
Approved and authorised by the
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The Northumberland County Recreation Ground Limited
Notes to the Unaudited Financial Statements for the Year Ended 8 November 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The company meets its day to day working capital requirements through cash generated from operations. The directors have assessed the potential impact of the COVID-19 virus and the financial impact on the company and have developed a business continuity plan should impact of the pandemic widen.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
The Northumberland County Recreation Ground Limited
Notes to the Unaudited Financial Statements for the Year Ended 8 November 2020 (continued)
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Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
In view of the restrictions as to use of the land under clause three of the company's memorandum of association, revaluation as required by FRS 102 is considered inappropriate. The investment property is therefore stated at cost.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
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Freehold property |
No depreciation charged |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
The Northumberland County Recreation Ground Limited
Notes to the Unaudited Financial Statements for the Year Ended 8 November 2020 (continued)
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 9 November 2019 |
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At 8 November 2020 |
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Carrying amount |
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At 8 November 2020 |
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At 8 November 2019 |
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Creditors |
Creditors: amounts falling due within one year
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2019 |
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Due within one year |
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Accruals and deferred income |
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