Aylesbury Rugby Football Club Limited
Aylesbury Rugby Football Club Limited
Registered number: 07324487
Unaudited Financial Statements
For The Year Ended
31 December 2022
Chimes Accountancy Services Ltd
Aylesbury Rugby Football Club Limited
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Aylesbury Rugby Football Club Limited
Balance Sheet
As at
31 December 2022
Balance Sheet
Registered number:
07324487
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Stocks | 4 |
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| Debtors | 5 |
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| Investments | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| NET ASSETS |
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| RESERVES | |||||
| Revaluation reserve | 10 |
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| Income and Expenditure Account |
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| MEMBERS' FUNDS | 882,833 | 830,190 | |||
Aylesbury Rugby Football Club Limited
Balance Sheet (continued)
As at
31 December 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
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Director
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Aylesbury Rugby Football Club Limited
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Plant & Machinery |
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| Fixtures & Fittings |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income and expenditure account as incurred.
1.5.
Stocks and Work in Progress
This is the work in progress fo the Club House extension and will be moved to the Fixed Asset Register once completed.
1.6.
Group accounts not prepared
These financial statements are for the company only. Consolidated accounts have not been prepared as it is a small group.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2021: 2)
Aylesbury Rugby Football Club Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
3.
Tangible Assets
| Land & Property | ||||
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| Freehold | Plant & Machinery | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
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| Additions |
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| Depreciation | ||||
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| Net Book Value | ||||
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The analysis of the cost or valuation of the above assets is as follows:
| Land & Property | ||||
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| Freehold | Plant & Machinery | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | |
| As at
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| At cost | 1,024,701 | 26,070 | 215,714 | 1,266,485 |
| 1,024,701 | 26,070 | 215,714 | 1,266,485 | |
| As at
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| At cost | 1,024,701 | 25,832 | 202,467 | 1,253,000 |
| 1,024,701 | 25,832 | 202,467 | 1,253,000 | |
Included within the net book value of land and buildings above is £863,700 (2021 - £882,892) in respect of freehold land and buildings.
Revaluation
The fair value of the company's land was revalued on 31 December 2017. An independent valuer was not involved.
The revaluation was carried out on adopting the new accounting standard, FRS102, and is not depreciated.
Land and buildings are secured by a fixed and floating charge over the assets.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £81,560 (2021 - £81,560).
4.
Stocks
| 2022 | 2021 | ||
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| £ | £ | ||
| Stock - work in progress |
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Aylesbury Rugby Football Club Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
5.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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| Amounts owed by subsidiaries |
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6.
Current Asset Investments
| 2022 | 2021 | ||
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| £ | £ | ||
| Shares in subsidiaries |
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7.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Other taxes and social security |
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| VAT |
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| Net wages | - | 76 | |
| Other creditors |
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| Other loan < 1 yr |
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| Accruals and deferred income |
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Creditors include bank and RFU loans which are secured of £15,964 (2021 - £15,964)
Creditors include finance leases of £9,314 (2021 - £9,314)
8.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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| Other loan > 1 yr |
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| Accruals and deferred income |
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Creditors include bank and RFU loans which are secured of £207,994 (2021 - £139,783)
Creditors include finance lease of £21,760 (2021 - £21,732l)
Aylesbury Rugby Football Club Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
9.
Obligations Under Finance Leases and Hire Purchase
| 2022 | 2021 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Within one year |
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| Between one and five years |
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10.
Reserves
| Revaluation Reserve | |
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| As at
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11.
Related Party Transactions
Summary of transactions with subsidiary
Aylesbury RFC Trading Ltd
During the year ended 31st December 2022, Aylesbury RFC Trading Ltd paid donations amounting to £87,413 (2021 - £nil). At 31st December 2022, there was £46,872 (2021 - £65,230) owed by Aylesbury RFC Trading Ltd.
12.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
13.
Explanation of profit and loss items
- Included in the profit and loss account is the premium received on the lease of the mast to APW. The income element of this premium is £21,525 and the capital element is £29,725.
- Historically, there have been some Trust expenses that have been included in the balance sheet. These have been written of in the current year and amount to £10,625.
14.
General Information
Aylesbury Rugby Football Club Limited
is a private company, limited by guarantee, incorporated in England & Wales, registered number
07324487
. The registered office is Ostlers Field Brook End, Weston Turville, Aylesbury, Buckinghamshire, HP22 5RN.