Westfield Banks (Sports Complex) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03036439

30 April 2023

Fixed assets

Current assets

Capital and reserves

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 income and retained earnings has not been delivered.

For the year ending 30 April 2023 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 .

30 April 2023

These financial statements were approved by the board of directors and authorised for issue on 15 January 2024 , and are signed on behalf of the board by:

Company registration number: 03036439

Year ended 30 April 2023

1. General information

The company is a private company limited by guarantee, registered in England. The address of the registered office is Westfield Lane, Hook, Goole, DN14 5EZ.

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. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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	-	5% straight line
	Plant and Machinery	-	20% straight line
	Solar Panels	-	5% straight line

Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Financial instruments 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 liability of the members is limited to £5.00.

5. Employee numbers

The average number of persons employed by the company during the year, including directors amounted to 4 (2022: 4).

6. Tangible assets

7. Investments

The company's investment in its subsidiary represents the cost of acquisition of 100% of the ordinary share capital of Goole Tennis Centre Limited, a company registered in England and Wales.

8. Debtors

9. Creditors: amounts falling due within one year

10. Creditors: amounts falling due after more than one year

The original loan of £56,112 is repayable to Goole Rugby Union Football Club. During the year additional loans of £15,000 each have been received from Goole Rugby Union Football Club and Goole Tennis Centre Limited.

11. Related party transactions

During the year Westfield Banks (Sports Complex) Limited settles the expenses for running the Westfield site and subsequently recharges them on to Goole Rugby Union Football Club and it's subsidiary company, Goole Tennis Centre Limited . Additional charges are made in respect of administration and rental of facilities.