South Leicester Rugby Football Club Limi - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07263601 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

SOUTH LEICESTER RUGBY FOOTBALL CLUB

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

P J Colver

W Marsden

L S Fincham

R Green

G A Hill

A C Atkins

I T Harding

C J Spencer

REGISTERED OFFICE:

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

REGISTERED NUMBER:

07263601 (England and Wales)

ACCOUNTANTS:

Studholme-Bell Limited

Chartered Accountants

& Business Advisors

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

FIXED ASSETS

Tangible assets

4

3,188,472

3,163,773

CURRENT ASSETS

Stocks

750

750

Debtors

5

201,727

202,788

Cash at bank and in hand

86,571

120,832

289,048

324,370

CREDITORS

Amounts falling due within one year

6

192,551

207,914

NET CURRENT ASSETS

96,497

116,456

TOTAL ASSETS LESS CURRENT LIABILITIES

3,284,969

3,280,229

CREDITORS

Amounts falling due after more than one year

7

(14,219

)

(19,921

)

PROVISIONS FOR LIABILITIES

(10,850

)

(12,019

)

NET ASSETS

3,259,900

3,248,289

RESERVES

Revaluation reserve

8

2,800,000

2,800,000

Income and expenditure account

459,900

448,289

3,259,900

3,248,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 25 March 2024 and were signed on its behalf by:

W Marsden - Director

1.	STATUTORY INFORMATION

South Leicester Rugby Football Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency is £ sterling.

Income recognition

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of sales of goods, membership subscriptions, sponsorship and donations during the year, exclusive of Value Added Tax and trade discounts.

Income is recognised using the following policies:

Sale of goods

-

At the point of sale of such items to customers, such that the risks and rewards of ownership have transferred to them.

Bar, kitchen and shop sales

-

Recognised on receipt of funds.

Membership subscriptions

-

Recognised in the subscription period to which they relate.

Advertising, sponsorship and donations

-

Recognised on receipt of funds.

Facilities, events and festivals

-

Recognised when the event has been undertaken or the facilities are utilised.

Inheritance receipts

-

Recognised on receipt of funds.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Fixtures and fittings

-

at variable rates on reducing balance

Inventories

Inventories have been valued at the lower of cost and estimated selling price less costs to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 July 2022

3,064,649

35,864

101,182

3,201,695

Additions

-

30,305

778

31,083

At 30 June 2023

3,064,649

66,169

101,960

3,232,778

DEPRECIATION

At 1 July 2022

-

-

37,922

37,922

Charge for year

-

-

6,384

6,384

At 30 June 2023

-

-

44,306

44,306

NET BOOK VALUE

At 30 June 2023

3,064,649

66,169

57,654

3,188,472

At 30 June 2022

3,064,649

35,864

63,260

3,163,773

Cost or valuation at 30 June 2023 is represented by:

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

Valuation in 2010

2,800,000

-

-

2,800,000

Cost

264,649

66,169

101,960

432,778

3,064,649

66,169

101,960

3,232,778

If freehold land and property had not been revalued 2010 would have been included at the following historical cost:

30.6.23

30.6.22

£

£

Cost

258,366

258,366

Freehold land and buildings were valued on an open market basis on 28 July 2010 by HSBC .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Other debtors

201,727

202,788

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans and overdrafts

6,667

7,209

Taxation and social security

28

4,054

Other creditors

185,856

196,651

192,551

207,914

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans

14,219

19,921

8.

RESERVES

Revaluation

reserve

£

At 1 July 2022

and 30 June 2023

2,800,000

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South Leicester Rugby Football Club Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of South Leicester Rugby Football Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of South Leicester Rugby Football Club Limited and state those matters that we have agreed to state to the Board of Directors of South Leicester Rugby Football Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than South Leicester Rugby Football Club Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that South Leicester Rugby Football Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of South Leicester Rugby Football Club Limited. You consider that South Leicester Rugby Football Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of South Leicester Rugby Football Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Studholme-Bell Limited

Chartered Accountants

& Business Advisors

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

25 March 2024