JudoScotland Company Accounts

JudoScotland Company Accounts

JUDOSCOTLAND - Company Information

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COMPANY REGISTRATION NUMBER SC113172
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
UNAUDITED FINANCIAL STATEMENTS
31 December 2016
GORDON MAVOR & CO LTD
Chartered Management Accountants
39 Bryce Road
Edinburgh
Scotland
EH14 5LP
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT
YEAR ENDED 31 DECEMBER 2016
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2016.
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was that of promoting and developing the sport of Judo in Scotland and to liaise with other national and international judo bodies.
DIRECTORS
The directors who served the company during the year were as follows:
Mr R Saez
Miss S Clark
Mr J McBeath
Mr M A Preston
Mr R A Sneddon
Mr G H Campbell
Mr P A Gardiner
Mr P A Gardiner retired as a director on 6 December 2016.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Registered office: Signed on behalf of the directors
South Platt Hill
Ratho
Newbridge
Midlothian
Scotland EH28 8AA
Mr G H Campbell
Director
Approved by the directors on 5 May 2017
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31 DECEMBER 2016
2016
2015
Note
£
£
TURNOVER
1,088,650
938,126
Cost of sales
1,088,180
937,353
-------------
----------
GROSS SURPLUS
470
773
----
----
OPERATING SURPLUS
470
773
Interest receivable
161
–
----
----
SURPLUS ON ORDINARY ACTIVITIES BEFORE TAXATION
631
773
Tax on surplus on ordinary activities
63
315
----
----
SURPLUS FOR THE FINANCIAL YEAR
568
458
----
----
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
31 December 2016
2016
2015
Note
£
£
£
FIXED ASSETS
Tangible assets
3
11,252
14,668
Investments
4
2
2
---------
---------
11,254
14,670
---------
---------
CURRENT ASSETS
Debtors
5
56,650
42,642
Cash at bank
359,270
334,033
----------
----------
415,920
376,675
CREDITORS: Amounts falling due within one year
6
199,150
163,889
----------
----------
NET CURRENT ASSETS
216,770
212,786
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
228,024
227,456
----------
----------
RESERVES
8
Income and expenditure account
9
228,024
227,456
----------
----------
MEMBERS' FUNDS
228,024
227,456
----------
----------
For the year ended 31 December 2016 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 accounts for the year in question in accordance with section 476; and
- 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 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
These accounts were approved by the directors and authorised for issue on 5 May 2017 , and are signed on their behalf by:
Mr R Saez Director
Company Registration Number: SC113172
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2016
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Cash flow statement
Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.
Income
The income of the company consists of grants and awards, membership fees, grading and championship income and other sundry items. Income is recognised at the point at which goods are delivered or the service is complete.
Fixed assets
Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Leasehold Property-25% on cost
Plant & Machinery-25% on cost
Preparation of consolidated financial statements
The financial statements contain information about JudoScotland as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.
2. DIRECTORS' REMUNERATION
The directors' aggregate remuneration in respect of qualifying services were:
2016
2015
£
£
Aggregate remuneration
11,556
11,780
---------
---------
3. TANGIBLE ASSETS
Leasehold Property
Plant & Machinery
Total
£
£
£
COST
At 1 January 2016 and 31 December 2016
9,706
90,605
100,311
-------
---------
----------
DEPRECIATION
At 1 January 2016
9,706
75,937
85,643
Charge for the year
–
3,416
3,416
-------
---------
---------
At 31 December 2016
9,706
79,353
89,059
-------
---------
---------
NET BOOK VALUE
At 31 December 2016
–
11,252
11,252
----
---------
---------
At 31 December 2015
–
14,668
14,668
----
---------
---------
4. INVESTMENTS
Fixed Asset Investments
£
FIXED ASSET INVESTMENTS
At 1 January 2016 and 31 December 2016
2
----
NET BOOK VALUE
At 31 December 2016 and 31 December 2015
2
----
The company's investments at the Balance Sheet date in the share capital of companies include the following: Associated company National Judo Academy Limited Nature of business: National Training Centre for Judo in Scotland % Class of shares: holding Ordinary 100.00
5. DEBTORS
2016
2015
£
£
Trade debtors
41,971
25,635
Other debtors
14,679
17,007
---------
---------
56,650
42,642
---------
---------
6. CREDITORS: Amounts falling due within one year
2016
2015
£
£
Trade creditors
1,053
315
Corporation tax
63
315
Other creditors
198,034
163,259
----------
----------
199,150
163,889
----------
----------
7. RELATED PARTY TRANSACTIONS
The property from which the business trades is leased by National Judo Academy Limited, an associated company. The total amount of rent invoiced from National Judo Academy Limited in the year was £44,669 (2015: £44,669). A management charge is processed from JudoScotland to National Judo Academy in respect of finance activites. The total amount of management charges invoiced from JudoScotland in the year was £1,200 (2015: £1,200).
8. COMPANY LIMITED BY GUARANTEE
The Company is Limited by Guarantee
9. RECONCILIATION OF SHAREHOLDERS' FUNDS AND MOVEMENT ON
RESERVES
Income and expenditure account
£
Balance brought forward
226,998
Surplus for the year
458
----------
Balance brought forward
227,456
Surplus for the year
568
----------
Balance carried forward
228,024
----------
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
MANAGEMENT INFORMATION
YEAR ENDED 31 DECEMBER 2016
The following pages do not form part of the statutory financial statements .
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
CHARTERED MANAGEMENT ACCOUNTANTS' REPORT TO THE BOARD
OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED
STATUTORY ACCOUNTS OF JUDOSCOTLAND
YEAR ENDED 31 DECEMBER 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JudoScotland for the year ended 31 December 2016 which comprise the Income and Expenditure Account, 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 Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.
This report is made solely to the Board of Directors of JudoScotland, as a body, in accordance with the terms of our engagement letter dated 31 May 2016. Our work has been undertaken solely to prepare for your approval the accounts of JudoScotland and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JudoScotland and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that JudoScotland has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JudoScotland. You consider that JudoScotland 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 accounts of JudoScotland. 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 accounts.
GORDON MAVOR & CO LTD Chartered Management Accountants
39 Bryce Road Edinburgh Scotland EH14 5LP
5 May 2017
JUDOSCOTLAND
COMPANY LIMITED BY GUARANTEE
DETAILED INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31 DECEMBER 2016
2016
2015
£
£
£
TURNOVER
Leadership and governance
1,188
157
Membership development
233,241
241,348
Gradings
86,500
91,618
National development
27,802
19,315
People development
117,193
88,355
Membership events
29,951
18,870
Performance development
476,513
353,072
Business support
112,479
122,042
Communications and marketing
3,783
3,349
-------------
----------
1,088,650
938,126
COST OF SALES
Leadership and governance
24,956
22,091
Membership development
214,817
214,327
Gradings
6,083
7,843
National development
22,197
14,746
People development
62,257
60,962
Membership events
71,338
56,225
Performance development
406,579
307,652
Business support
239,006
221,847
Communications and marketing
40,947
31,660
-------------
----------
1,088,180
937,353
-------------
----------
GROSS SURPLUS
470
773
-------------
----------
OVERHEADS
–
–
----
----
OPERATING SURPLUS
470
773
Bank interest receivable
161
–
----
----
SURPLUS ON ORDINARY ACTIVITIES
631
773
----
----
NOTES:
INTEREST RECEIVABLE
Bank interest receivable
161
–
----
----