English Indoor Bowling Association Limited Filleted accounts for Companies House (small and micro)

ENGLISH INDOOR BOWLING ASSOCIATION LIMITED - Company Information

6 false false false false false false false false false true false false false false false false No description of principal activity 2021-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06714071 2021-12-01 2022-11-30 06714071 2022-11-30 06714071 2021-11-30 06714071 2020-12-01 2021-11-30 06714071 2021-11-30 06714071 core:LandBuildings core:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 06714071 core:FurnitureFittings 2021-12-01 2022-11-30 06714071 bus:Director1 2021-12-01 2022-11-30 06714071 core:LandBuildings 2021-11-30 06714071 core:FurnitureFittings 2021-11-30 06714071 core:FurnitureFittings 2022-11-30 06714071 core:LandBuildings 2021-12-01 2022-11-30 06714071 core:WithinOneYear 2022-11-30 06714071 core:WithinOneYear 2021-11-30 06714071 core:RetainedEarningsAccumulatedLosses 2022-11-30 06714071 core:RetainedEarningsAccumulatedLosses 2021-11-30 06714071 core:BetweenOneFiveYears 2022-11-30 06714071 core:CostValuation core:Non-currentFinancialInstruments 2021-11-30 06714071 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-11-30 06714071 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2022-11-30 06714071 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2022-11-30 06714071 core:CostValuation core:Non-currentFinancialInstruments 2022-11-30 06714071 core:Non-currentFinancialInstruments 2022-11-30 06714071 core:Non-currentFinancialInstruments 2021-11-30 06714071 core:LandBuildings 2021-11-30 06714071 bus:SmallEntities 2021-12-01 2022-11-30 06714071 bus:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 06714071 bus:FullAccounts 2021-12-01 2022-11-30 06714071 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 06714071 bus:CompanyLimitedByGuarantee 2021-12-01 2022-11-30

COMPANY REGISTRATION NUMBER: 06714071

English Indoor Bowling Association Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

30 November 2022

English Indoor Bowling Association Limited

Company Limited by Guarantee

Statement of Financial Position

30 November 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	6	5,242	232,747
Investments	7	37,273	39,535
		--------	---------
		42,515	272,282

Current assets

Stocks		1,256	1,508
Debtors	8	23,669	20,868
Cash at bank and in hand		154,566	11,203
		---------	--------
		179,491	33,579

Creditors: amounts falling due within one year	9	150,132		133,945
		---------		---------
Net current assets/(liabilities)			29,359		( 100,366)
			--------		---------
Total assets less current liabilities			71,874		171,916
			--------		---------
Net assets			71,874		171,916
			--------		---------

Capital and reserves

Profit and loss account	11	71,874	171,916
		--------	---------
Members funds		71,874	171,916
		--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 November 2022 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

English Indoor Bowling Association Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

30 November 2022

These financial statements were approved by the board of directors and authorised for issue on 11 May 2023 , and are signed on behalf of the board by:

Mr J M Pounds
Director

Company registration number: 06714071

English Indoor Bowling Association Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 November 2022

1. General information

The principle activity was that of the company during the year was providing services as the National Governing Body for Indoor Level Green Bowls in England. The registered office is David Cornwell House, Bowling Green, Leicester Road, Melton Mowbray, Leicestershire, LE13 0FA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The sport of Indoor Bowls is slowly on the road back to where it was in March 2020. The levels of membership across the clubs at the start of the year were still 66% of numbers prior to COVID. The cost of living crisis across the Country has undoubtably contributed to the number playing the sport. Whilst we have not seen a reduction in membership, the level of income, which is the main source for the company, will be 34% lower. However, the Company will receive the full benefit this year, as there will be no refunds to clubs like last year. Cash reserves and access to investments can provide the Company, currently, with £230,000 and this should increase as entries for National Summer and Winter Competitions have started to be received. The Company's level of investment still remains the same as there has been no call to release funds over the last 36 months and the level of funds will be enhanced and placed in short and medium schemes to delivery a better return on investment. As a matter of normal practice, the Head Office has ensured that the core expenditure have been controlled by level of use and or re-negotiated agreements. Also, the Company has existing commercial partnerships which are to provide contractual fees for the year and or via indicated renewals in the region of £20,000. In addition, the commercial market is showing positive interest levels. As such the Company sees itself as a going concern and to Govern the Sport of Indoor Bowls.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that it is subject to the small companies regime, and no member of the group has an undertaking falling within subsection (2B) as a member.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents monies received from membership fees, sponsorship, grant income, competition fees, sale of goods and other activities. Membership fees are recognised in accounting year to which they relate. Competition income is received in advance, and deferred to cover the period over which the competitions run.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Chain of office	-	10% straight line
Office equipment	-	25% reducing balance, computer equipment 3 years straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Government grants

Government grants are recognised using the accrual model and the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Company limited by guarantee

The members guarantee to pay a contribution of £1 each in the event of the Company winding up.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2021: 6 ).

6. Tangible assets

	Land and buildings	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost
At 1 December 2021	305,331	12,748	33,845	351,924
Additions	–	2,825	1,312	4,137
Disposals	( 305,331)	( 12,748)	( 6,298)	( 324,377)
Transfers	–	18,531	(18,531)	–
	---------	--------	--------	---------
At 30 November 2022	–	21,356	10,328	31,684
	---------	--------	--------	---------
Depreciation
At 1 December 2021	78,183	12,748	28,246	119,177
Charge for the year	–	2,442	2,052	4,494
Disposals	( 78,183)	( 12,748)	( 6,298)	( 97,229)
Transfers	–	16,099	(16,099)	–
	---------	--------	--------	---------
At 30 November 2022	–	18,541	7,901	26,442
	---------	--------	--------	---------
Carrying amount
At 30 November 2022	–	2,815	2,427	5,242
	---------	--------	--------	---------
At 30 November 2021	227,148	–	5,599	232,747
	---------	--------	--------	---------

7. Investments

	Shares in group undertakings	Listed securities	Total
	£	£	£
Cost
At 1 December 2021	5,031	34,504	39,535
Additions	–	664	664
Disposals	–	( 423)	( 423)
Revaluations	–	( 2,503)	( 2,503)
	-------	--------	--------
At 30 November 2022	5,031	32,242	37,273
	-------	--------	--------
Impairment
At 1 December 2021 and 30 November 2022	–	–	–
	-------	--------	--------

Carrying amount
At 30 November 2022	5,031	32,242	37,273
	-------	--------	--------
At 30 November 2021	5,031	34,504	39,535
	-------	--------	--------

The company owns 61% of the issued share capital of Premier Threes Bowls Tour Ltd. For the year ended 31 October 2021 their results were as follows:

Aggregate capital and reserves £10 (2020 £86)

Loss for the year £6 (2020 £16)

The company also owns 50% of the shares in Coach Bowls Ltd. For the year ended 30 September 2021 their results were as follows:

Aggregate capital and reserves nil (2021: nil).

The historic cost of the listed securities held as at the year end is £35,071 (2021 £31,201).

8. Debtors

	2022	2021
	£	£
Trade debtors	5,400	231
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	336
Other debtors	18,269	20,301
	--------	--------
	23,669	20,868
	--------	--------

9. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	7,100	8,639
Social security and other taxes	4,984	4,620
Other creditors	138,048	120,686
	---------	---------
	150,132	133,945
	---------	---------

Other creditors include £124,394 (2021 £101,381) of deferred income and £1,297 (2021 £1,121) of unpaid pension contributions.

10. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2022	2021
	£	£

Recognised in other operating income:

Government grants recognised directly in income	–	35,103
	----	--------

11. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

12. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2022	2021
	£	£
Not later than 1 year	18,950	–
Later than 1 year and not later than 5 years	56,850	–
	--------	----
	75,800	–
	--------	----

The total future minimum lease payments under non-cancellable operating leases are £75,800 (2021 £nil).

13. Related party transactions

There were no related party transactions requiring disclosure under FRS 102.