Esher RFC Professional Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06726973 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

ESHER RFC PROFESSIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Dance

R C Howard

J B Inverdale

S Halliday

REGISTERED OFFICE:

Collards

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

REGISTERED NUMBER:

06726973 (England and Wales)

AUDITORS:

Collards

Chartered Accountants

Registered Auditors

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

CURRENT ASSETS

Debtors

5

15,239

7,031

Cash at bank

3,944

5,953

19,183

12,984

CREDITORS

Amounts falling due within one year

6

56,091

53,613

NET CURRENT LIABILITIES

(36,908

)

(40,629

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(36,908

)

(40,629

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(36,910

)

(40,631

)

SHAREHOLDERS' FUNDS

(36,908

)

(40,629

)

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 2023 and were signed on its behalf by:

R C Howard - Director

1.	STATUTORY INFORMATION

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

The address of its registered office is:

5-9 Eden Street

Kingston upon Thames

Surrey

KT1 1BQ

The principal place of business is:

The Rugby Ground

369 Molesey Road

Hersham

Surrey

KT12 3PF

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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 years presented, unless otherwise stated.

Turnover

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Going concern

The company made an operating loss in the year under review and still has significant net current liabilities at the balance sheet date. The directors are confident that the company will improve its results in the current year. In order to finance past operating losses, the company has received financial support from certain members of Esher Rugby Football Club Limited by way of loans and donations. The directors are confident that the company can continue to rely on financial support from these members to enable it to meet its financial obligations as and when they fall due. On this basis the directors consider that it is appropriate to prepare the accounts on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2021 - 3 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

8,713

-

Other debtors

6,526

7,031

15,239

7,031

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

16,327

14,297

Amounts owed to group undertakings

-

6,851

Taxation and social security

648

829

Other creditors

39,116

31,636

56,091

53,613

7.	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

8.	RELATED PARTY DISCLOSURES

Loans to/(from) related parties

Parent

2022

2021

£

£

At start of period

(6,851

)

5,958

Advanced

(78,704

)

14,043

Repaid

51,029

(26,852

)

Waived as a donation

34,526

-

At end of period

-

(6,851

)

Loans from related parties

Key management

2022

2021

£

£

At start of period

17,055

17,055

Amounts waived

-

-

At end of period

17,055

17,055

Transactions with related parties

During the period the company received donated funding totalling £1,000 (2021: £Nil) from members of key management personnel.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Esher Rugby Football Club Limited by virtue of its 100% holding in the issued share capital of the company.