Paignton Rugby Football Club Ltd - Period Ending 2021-05-31

Paignton Rugby Football Club Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 6

Paignton Rugby Football Club Ltd

Company Information

Directors

Mr G Davies Mrs S L Davies Mr R G Hunt Mr N P Moloney Mr D Siddall Mr J D Back Mr O Sinar Mr D R Law

Company secretary

Mr G D Nelson-Smith

Registered office

The Club House Queens Road Paignton Devon TQ4 6AT

Accountants

Francis Clark LLP Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF

Paignton Rugby Football Club Ltd

Balance Sheet

31 May 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	2,960	-
Current assets
Stocks	5	726	726
Cash at bank and in hand		94,267	83,525
		94,993	84,251
Creditors: Amounts falling due within one year	6	(7,034)	(9,956)
Net current assets		87,959	74,295
Total assets less current liabilities		90,919	74,295
Creditors: Amounts falling due after more than one year	6	(8,078)	(9,654)
Net assets		82,841	64,641
Capital and reserves
Other reserves		35,419	35,419
Profit and loss account		47,422	29,222
Shareholders' funds		82,841	64,641

Paignton Rugby Football Club Ltd

Balance Sheet

31 May 2021

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 October 2021 and signed on its behalf by:
 

......................................... Mr N P Moloney Director

......................................... Mr D Siddall Director

Company Registration Number: 06901014

Paignton Rugby Football Club Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 May 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Club House
Queens Road
Paignton
Devon
TQ4 6AT
England

These financial statements were authorised for issue by the Board on 13 October 2021.

2	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.

Revenue recognition

The turnover shown in the Statement of Income and Retained Earnings represents amounts receivable during the year, exclusive of Value Added Tax. Turnover is recognised in the period to which it relates.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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
Furniture, fittings and equipment	20% straight line

Paignton Rugby Football Club Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 May 2021

Stocks

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 7).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2020	34,703	34,703
Additions	3,700	3,700
At 31 May 2021	38,403	38,403
Depreciation
At 1 June 2020	34,703	34,703
Charge for the year	740	740
At 31 May 2021	35,443	35,443
Carrying amount
At 31 May 2021	2,960	2,960

5

Stocks

	2021 £	2020 £
Other inventories	726	726

Paignton Rugby Football Club Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 May 2021

6

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020  £
Loans and borrowings	7	3,333	3,333
Social security and other taxes		1,396	4,325
Accrued expenses		2,305	2,298
		7,034	9,956

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Loans and borrowings	7	8,078	9,654

7	Loans and borrowings

	2021 £	2020 £
Loans and borrowings due after one year
Other borrowings	8,078	9,654

	2021 £	2020 £
Current loans and borrowings
Other borrowings	3,333	3,333

8

Reserves

Other reserves relate to the accumulated surplus donated from the old club on incorporation.

9	Distribution of reserves on winding up/dissolution of the club

If upon the winding up or dissolution of the club there remains after the satisfaction of all its debts and liabilities any property whatsoever, the same shall be paid to or distributed to another community amateur sports club for rugby union, to the RFU for use in community related rugby union initiatives, or to a charitable organisation.