The Royal Caledonian Curling Club - Accounts to registrar (filleted)

REGISTERED NUMBER: SC232571 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

The Royal Caledonian Curling Club

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

42,607

44,075

Investments

5

30,609

73,216

74,684

CURRENT ASSETS

Stocks

6

3,540

7,142

Debtors

7

107,142

33,320

Cash at bank

119,207

803,243

229,889

843,705

CREDITORS

Amounts falling due within one year

8

(96,619

)

(571,169

)

NET CURRENT ASSETS

133,270

272,536

TOTAL ASSETS LESS CURRENT
LIABILITIES

206,486

347,220

RESERVES

Income and expenditure account

206,486

347,220

206,486

347,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 May 2017 and were signed on its behalf by:

Mr B R Crawford - Director

1.	STATUTORY INFORMATION

The Royal Caledonian Curling Club is a private company, limited by guarantee, domiciled in Scotland,

registration number SC32571. The registered office is 2a Ochil House, Springkerse Business Park, Stirling, FK7

7XE.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Subscription income is recognised in the period in which the income is received and in the period in which the

associated expenditure occurs. All other income is accounted for when received or in relation to the period

earned.

Tangible fixed assets and depreciation

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

Freehold property

-

2.5% on cost

Plant and machinery

-

25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any

incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all

tangible fixed assets are depreciated to nil value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items. Cost is represented by purchase price.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Legal status

The company is limited by guarantee. The liability of each member of the company, in the event of its winding

up, is limited to £1.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is

probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably

estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time

value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is

determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of

an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

COST

At 1 May 2016

57,124

50,306

107,430

Additions

-

2,684

At 30 April 2017

57,124

52,990

110,114

DEPRECIATION

At 1 May 2016

24,692

38,663

63,355

Charge for year

1,143

3,009

4,152

At 30 April 2017

25,835

41,672

67,507

NET BOOK VALUE

At 30 April 2017

31,289

11,318

42,607

At 30 April 2016

32,432

11,643

44,075

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

COST

At 1 May 2016

and 30 April 2017

1

30,608

30,609

NET BOOK VALUE

At 30 April 2017

1

30,608

30,609

At 30 April 2016

1

30,608

30,609

6.

STOCKS

30.4.17

30.4.16

£

Stocks

3,540

7,142

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

Trade debtors

6,894

18,499

Amounts owed by group undertakings

17,000

-

Other debtors

51,703

14,821

VAT

373

-

Prepayments and accrued income

31,172

-

107,142

33,320

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

Trade creditors

23,497

14,432

Tax

-

1,046

Other creditors

48,622

555,691

Accrued expenses

24,500

-

96,619

571,169

9.	RELATED PARTY DISCLOSURES

During the year the company loaned £163,000 to Curling Events Scotland Ltd, a wholly owned subsidiary.

Repayments totalling £71,000 were made during the course of the year leaving an outstanding balance of

£92,000 at the year end. £75,000 of the balance has been deemed irrecoverable by the directors and therefore has

been written off during the current period.

The Royal Caledonian Curling Club - Accounts to registrar (filleted) - small 17.3

The Royal Caledonian Curling Club - Accounts to registrar (filleted) - small 17.3