The Magdala Lawn Tennis Club Limited - Period Ending 2022-12-31
The Magdala Lawn Tennis Club Limited - Period Ending 2022-12-31
Registration number:
The Magdala Lawn Tennis Club Limited
(A company limited by guarantee)
for the Year Ended 31 December 2022
The Magdala Lawn Tennis Club Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Magdala Lawn Tennis Club Limited
Company Information
Directors |
Mr E R J Benson Mr J Greenwood Mrs R H E Coupe Mrs A M Davidson Mrs M Kersh Dr S M J Goode Mr M M Jenkinson |
Registered office |
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Accountants |
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The Magdala Lawn Tennis Club Limited
(Registration number: 00389149)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Reserves |
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Other reserves |
31,806 |
31,806 |
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Retained earnings |
9,561 |
8,599 |
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Surplus |
41,367 |
40,405 |
For the financial 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.
Directors' responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
The Magdala Lawn Tennis Club Limited
(Registration number: 00389149)
Balance Sheet as at 31 December 2022
Approved and authorised by the
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The Magdala Lawn Tennis Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
The principal place of business is:
Magdala Road
Mapperley Park
Nottingham
NG3 5DH
These financial statements were authorised for issue by the
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover represents amounts received for subscriptions, fees, bar profits, legacies and donations.
The Magdala Lawn Tennis Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Other grants
Capital grants are recognised over the useful economic life of the related asset as follows;-
Artificial grass courts - 12.5% straight line basis
Flood lights - 12.5% straight line basis
The Magdala Lawn Tennis Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
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 |
Freehold land |
Nil |
Flood lights, courts and hut |
12.5% - 20% straight line basis |
Pavilions |
6.67% straight line 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. 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.
Stocks
Stocks are stated at the lower of cost and net realisable value.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
The Magdala Lawn Tennis Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Tangible assets |
Freehold land |
Flood lights and Pavilion |
Gardeners hut |
Courts |
Total |
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Cost or valuation |
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At 1 January 2022 |
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Additions |
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- |
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Disposals |
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- |
( |
- |
( |
At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
- |
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Charge for the year |
- |
- |
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- |
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Eliminated on disposal |
- |
- |
( |
- |
( |
At 31 December 2022 |
- |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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- |
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Included within the net book value of freehold land above is £1,833 (2021 - £1,833) in respect of freehold land and buildings.
The Magdala Lawn Tennis Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Stocks |
2022 |
2021 |
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Merchandise |
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Debtors |
2022 |
2021 |
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Other debtors |
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The Magdala Lawn Tennis Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
2021 |
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Current loans and borrowings |
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Other borrowings |
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2022 |
2021 |
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Non-current loans and borrowings |
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Other borrowings |
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