North Petherton Bowling Club Ltd 30/09/2018 iXBRL

North Petherton Bowling Club Ltd 30/09/2018 iXBRL

NORTH PETHERTON BOWLING CLUB LIMITED - Company Information

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Company registration number: 04357877
North Petherton Bowling Club Ltd
Company limited by guarantee
Unaudited filleted financial statements
30 September 2018
North Petherton Bowling Club Ltd
Company limited by guarantee
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
North Petherton Bowling Club Ltd
Company limited by guarantee
Directors and other information
Directors Mr Michael Pyne
Mr Peter Douglas Walker
Mr David Thomas (Appointed 9 September 2018)
Mr John Hardy Swayne
Mr Michael John Glendinning
Mrs Eileen June Milton
Mr Terence Donald Pope
Mr Frank Davis
Mr Keith Dewey
Secretary John Hardy Swayne
Company number 04357877
Registered office Manor Cottage Huntworth Lane
Huntworth
Bridgwater
Somerset
TA7 0AH
Business address Manor Cottage Huntworth Lane
Huntworth
Bridgwater
Somerset
TA7 0AH
Accountants Michael J Dodden & Co
34 North Street
Bridgwater
Somerset
TA6 3YD
North Petherton Bowling Club Ltd
Company limited by guarantee
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of North Petherton Bowling Club Ltd
Year ended 30 September 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North Petherton Bowling Club Ltd for the year ended 30 September 2018 which comprise the statement of financial position and 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of North Petherton Bowling Club Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of North Petherton Bowling Club Ltd and state those matters that we have agreed to state to the board of directors of North Petherton Bowling Club Ltd as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Petherton Bowling Club Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that North Petherton Bowling Club Ltd 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 North Petherton Bowling Club Ltd. You consider that North Petherton Bowling Club Ltd 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 North Petherton Bowling Club Ltd. 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.
Michael J Dodden & Co
Chartered Accountants
34 North Street
Bridgwater
Somerset
TA6 3YD
North Petherton Bowling Club Ltd
Company limited by guarantee
Statement of financial position
30 September 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 392,470 392,071
_______ _______
392,470 392,071
Current assets
Stocks 3,955 4,140
Investments 6 55,742 -
Cash at bank and in hand 9,820 59,334
_______ _______
69,517 63,474
Creditors: amounts falling due
within one year 7 ( 756) ( 660)
_______ _______
Net current assets 68,761 62,814
_______ _______
Total assets less current liabilities 461,231 454,885
_______ _______
Net assets 461,231 454,885
_______ _______
Capital and reserves
User defined reserve 1 347,115 347,115
Profit and loss account 114,116 107,770
_______ _______
Members funds 461,231 454,885
_______ _______
For the year ending 30 September 2018 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.
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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2018 , and are signed on behalf of the board by:
Mr Peter Douglas Walker
Director
Company registration number: 04357877
North Petherton Bowling Club Ltd
Company limited by guarantee
Notes to the financial statements
Year ended 30 September 2018
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Manor Cottage Huntworth Lane, Huntworth, Bridgwater, Somerset, TA7 0AH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents income generated in respect of the clubs normal activities.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Limited by guarantee
The company is limited by guarantee.
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 October 2017 347,115 71,898 419,013
Additions - 10,901 10,901
Disposals - ( 2,500) ( 2,500)
_______ _______ _______
At 30 September 2018 347,115 80,299 427,414
_______ _______ _______
Depreciation
At 1 October 2017 - 26,942 26,942
Charge for the year - 8,002 8,002
_______ _______ _______
At 30 September 2018 - 34,944 34,944
_______ _______ _______
Carrying amount
At 30 September 2018 347,115 45,355 392,470
_______ _______ _______
At 30 September 2017 347,115 44,956 392,071
_______ _______ _______
6. Investments
2018 2017
£ £
Other investments 55,742 -
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Other creditors 756 660
_______ _______