Angel (Tonbridge) Indoor Bowls - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01563612 (England and Wales)

ANGEL (TONBRIDGE) INDOOR BOWLS

ASSOCIATION LIMITED

(A COMPANY LIMITED BY GUARANTEE)

TRADING AS

ANGEL INDOOR BOWLS CENTRE

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B P Buss

N Ramage

M A R Sellen

P R Gent

K Elliment

SECRETARY:

B P Buss

REGISTERED OFFICE:

Angel Indoor Bowls Centre

Avenue du Puy

Tonbridge

Kent

TN9 1QH

REGISTERED NUMBER:

01563612 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

FIXED ASSETS

Tangible assets

4

277,862

282,868

CURRENT ASSETS

Stocks

6,390

7,812

Debtors

11,271

6,684

Cash at bank and in hand

212,661

215,571

230,322

230,067

CREDITORS

Amounts falling due within one year

31,182

17,371

NET CURRENT ASSETS

199,140

212,696

TOTAL ASSETS LESS CURRENT LIABILITIES

477,002

495,564

PROVISIONS FOR LIABILITIES

6,000

6,000

NET ASSETS

471,002

489,564

RESERVES

Income and expenditure account

471,002

489,564

471,002

489,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2022 and were signed on its behalf by:

N Ramage - Director

B P Buss - Director

1.	STATUTORY INFORMATION

Angel (Tonbridge) Indoor Bowls Association Limited (a company limited by guarantee) 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 as modified by the revaluation of certain assets.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services replied during the year, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Fixtures & fittings

-

10% on cost

Bowling surface

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Government grants

Government grants received as contributions towards expenditure on fixed assets are accounted for by deducting the amount of the grant from the purchase price or production cost of the related asset.

In the opinion of the Council Members this treatment is appropriate to the company in order for the financial statements to give a true and fair view, due to the grants being received for the specific purpose of reducing the cost of the purchase of the asset.

This policy has no effect on the income and expenditure account. The inclusion of the grant as a deduction against the related fixed asset has resulted in a reduction in the fixed asset net book value.

Reserves accounting

Reserves have been created by the Council Members out of unrestricted accumulated reserves to show amounts allocated for specific purposes or future projects.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 September 2021

612,017

Additions

12,198

Revaluations

(329,150

)

At 31 August 2022

295,065

DEPRECIATION

At 1 September 2021

329,149

Charge for year

17,204

Revaluation adjustments

(329,150

)

At 31 August 2022

17,203

NET BOOK VALUE

At 31 August 2022

277,862

At 31 August 2021

282,868

The lease of the club came to an end during the year and, in the light of this, a decision was made to write down the cost of the assets to their net book value at the beginning of the year. The assets still have value and the directors believe the brought forward values are not immaterially misstated. A new lease has now been agreed and formalised.

5.	RELATED PARTY DISCLOSURES

Costs of £4,800 (2021: £4,800) were incurred for professional services by Shenstone Consulting Limited for services provided by Mr B P Buss, a director.

6.	MEMBERSHIP

The company is a private company limited by guarantee and consequently does not have share capital.

Each of the members is liable to contribute an amount not exceeding £1 towards the assets of this company in the event of liquidation.

7.	CONTROLLING PARTY

The council of management determine policy and oversee day-to-day operating decisions. The ultimate controlling parties are the members of the association.