Stafford Showground Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03078132 (England and Wales)

STAFFORD SHOWGROUND LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A G Parrott

R E Cartmail

F G Thompstone

T R Nield

M J Williams

P J Sands

D T Boden

J M Edwards

M T Shelly

SECRETARY:

M R Heenan

REGISTERED OFFICE:

County Showground

Weston Road

Stafford

ST18 0BD

REGISTERED NUMBER:

03078132 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

5,170

CURRENT ASSETS

Debtors

5

70,304

81,486

Cash at bank and in hand

35,042

14,982

105,346

96,468

CREDITORS

Amounts falling due within one year

6

(53,594

)

(63,398

)

NET CURRENT ASSETS

51,752

33,070

TOTAL ASSETS LESS CURRENT LIABILITIES

51,752

38,240

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

51,750

38,238

SHAREHOLDERS' FUNDS

51,752

38,240

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 16 December 2021 and were signed on its behalf by:

M J Williams - Director

1.	STATUTORY INFORMATION

Stafford Showground Limited is a private company, limited by shares , 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from rents received and commissions is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the period covered.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Computer equipment

-

Straight line over 3 years

Gift aid

In accordance with the revised "Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland" gift aid payments to the parent company are accounted for when paid and are treated as a distribution and have been deducted directly from reserves.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2020 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 August 2020

132,090

23,624

155,714

Disposals

(132,090

)

(23,624

)

(155,714

)

At 31 July 2021

-

-

-

DEPRECIATION

At 1 August 2020

126,921

23,623

150,544

Charge for year

5,169

1

5,170

Eliminated on disposal

(132,090

)

(23,624

)

(155,714

)

At 31 July 2021

-

-

-

NET BOOK VALUE

At 31 July 2021

-

-

-

At 31 July 2020

5,169

1

5,170

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

44,495

3,434

Amounts owed by group undertakings

19,428

-

Deferred tax asset

2,334

-

Prepayments and accrued income

4,047

78,052

70,304

81,486

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade creditors

7,230

43,232

Amounts owed to group undertakings

-

5,072

Social security and other taxes

6,413

-

VAT

15,541

11,694

Other creditors

772

-

Accruals and deferred income

23,638

3,400

53,594

63,398

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.21

31.7.20

£

£

Within one year

-

4,585

Leases primarily relate to motor vehicles.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.21

31.7.20

value:

£

£

2

Ordinary shares

£1

2

2

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

The Report of the Auditors was unqualified.

Ian Walsh (Senior Statutory Auditor)

for and on behalf of Dyke Yaxley Limited

10.	RELATED PARTY DISCLOSURES

Stafford Showground Limited has provided a limited guarantee for £600,000, in aggregate, in favour of Staffordshire & Birmingham Agricultural Society, supported by a mortgage debenture over the assets of Stafford Showground Limited.

During the year, the company paid Staffordshire & Birmingham Agricultural Society (parent company) £nil (2020 - £80,000) in respect of rent and received £nil (2020 - £nil) in respect of management charges. All transactions were on normal commercial terms in the ordinary course of business. The company has paid a donation under gift aid of £38,238 (2020 - £77,619) to Staffordshire & Birmingham Agricultural Society.

As at 31 July 2021, Staffordshire & Birmingham Agricultural Society was owed £19,428 (2020 - £5,072 creditor) by Stafford Showground Limited.

11.	CONTROLLING PARTY

The parent company of Stafford Showground is Staffordshire and Birmingham Agricultural Society and its registered office is The County Showground, Weston Road, Stafford, ST18 0BD.