Five Rivers Indoor Bowls Club (Salisbury) Limited - Period Ending 2016-04-30

 
 
 
 
 
 
 
  Five Rivers Indoor Bowls Club (Salisbury) Limited
 (A company limited by guarantee)
 
  Unaudited Abbreviated Accounts
  Year Ended 30 April 2016
 
  Company Registration Number: 07835780

Five Rivers Indoor Bowls Club (Salisbury) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Five Rivers Indoor Bowls Club (Salisbury) Limited
Abbreviated Balance Sheet
30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					45,359			46,470
Current assets
Stocks					1,071			1,108
Debtors					7,270			12,479
Cash at bank and in hand					25,587			16,320
					33,928			29,907
Creditors: Amounts falling due within one year					(4,307)			(4,415)
Net current assets					29,621			25,492
Total assets less current liabilities					74,980			71,962
Deferred income					(24,468)			(25,906)
Net assets					50,512			46,056
Reserves
Profit and loss account					50,512			46,056
Members' funds					50,512			46,056

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Five Rivers Indoor Bowls Club (Salisbury) Limited
Abbreviated Balance Sheet
30 April 2016 ......... continued

For the year ending 30 April 2016 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 August 2016 and signed on its behalf by:

J Stone
Director

Company Registration Number: 07835780

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Five Rivers Indoor Bowls Club (Salisbury) Limited
Notes to the Abbreviated Accounts
Year Ended 30 April 2016 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents the total invoice value of membership and sales made during the period. Membership income is recognised over the period to which it relates. Sales are recognised when the goods are physically purchased by the customer. Other operating income represents grants received. Grants are recognised to the extent that the club has entitlement to that income. Where a grant relates to the purchase of a capital item, it is deferred and released over the life of the asset in accordance with the depreciation policy.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold improvements	straight line over 10 to 20 years
Fixtures & Fittings	20% reducing balance

Stock

Stock comprises goods for resale and is valued at the lower of cost and net realisable value. The cost of goods for resale is the purchase price on a first in, first out basis. Net realisable value is calculated as the selling price of the goods for resale less any costs still to be incurred in getting items into their finished state. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than the cost of purchase.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Five Rivers Indoor Bowls Club (Salisbury) Limited
Notes to the Abbreviated Accounts
Year Ended 30 April 2016 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		49,704			49,704
Additions		1,538			1,538
At 30 April 2016		51,242			51,242
Depreciation
At 1 May 2015		3,234			3,234
Charge for the year		2,649			2,649
At 30 April 2016		5,883			5,883
Net book value
At 30 April 2016		45,359			45,359
At 30 April 2015		46,470			46,470

3	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.
  The company has CASC status.

Page 4