Braintree H C Limited - Period Ending 2018-04-30

Registration number: 01349271

Braintree H C Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2018

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Braintree H C Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

Braintree H C Limited

Company Information

Chairman

C R Card

Directors

M B Hanley K R Welsh D Summersgill A J Hill C R Card

Registered office

10 Beatty Gardens Braintree Essex CM7 9TA

Accountants

Lambert Chapman LLP Chartered Accountants 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Page 1

Braintree H C Limited

(Registration number: 01349271)
Balance Sheet as at 30 April 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	3	154,446	172,340
Investments	4	4	4
		154,450	172,344
Current assets
Debtors	5	5,239	4,839
Cash at bank and in hand		68,756	71,162
		73,995	76,001
Creditors: Amounts falling due within one year	6	(23,557)	(20,940)
Net current assets		50,438	55,061
Total assets less current liabilities		204,888	227,405
Creditors: Amounts falling due after more than one year	6	(97,968)	(113,782)
Net assets		106,920	113,623
Capital and reserves
Called up share capital	7	9	9
Revaluation reserve		4,894	4,894
Profit and loss account		102,017	108,720
Total equity		106,920	113,623

For the financial year ended 30 April 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 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 financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

Braintree H C Limited

(Registration number: 01349271)
Balance Sheet as at 30 April 2018

Approved and authorised by the Board on 27 January 2019 and signed on its behalf by:
 

C R Card

Chairman

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

Braintree H C Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 10 Beatty Gardens, Braintree, Essex, CM7 9TA.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Government grants

A grant from Braintree District Council has been treated as deferred income and credited over a period approximating to the useful life of the asset to which it relates.

Other grants

A grant from England Hockey has been treated as deferred income and credited over a period approximating to the useful life of the asset to which it relates.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold Land	No depreciation charged
Clubhouse and Changing Rooms	4% straight line

Page 4

Braintree H C Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

Equipment	25% reducing balance
Synthetic Playing Surface (including floodlights)	10% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Page 5

Braintree H C Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

3	Tangible assets

	Freehold Land £	Clubhouse and Changing Rooms  £	Synthetic Playing surface (including floodlights) £	Equipment  £	Total £
Cost or valuation
At 1 May 2017	45,000	64,375	299,263	14,827	423,465
At 30 April 2018	45,000	64,375	299,263	14,827	423,465
Depreciation
At 1 May 2017	-	30,087	211,995	9,043	251,125
Charge for the year	-	2,575	12,808	2,511	17,894
At 30 April 2018	-	32,662	224,803	11,554	269,019
Carrying amount
At 30 April 2018	45,000	31,713	74,460	3,273	154,446
At 30 April 2017	45,000	34,288	87,268	5,784	172,340

Included within the net book value of land and buildings above is £45,000 (2017 - £45,000) in respect of freehold land and buildings.
 

Page 6

Braintree H C Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

Revaluation

The fair value of the company's Freehold Land was revalued on an open market basis on 31 March 1998 by an independent valuer . The name and qualification of the independent valuer was C C Woodhouse FRICS.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2017 - £40,106).

4	Investments

	2018 £	2017 £
Investments in subsidiaries	4	4

Subsidiaries	£
Cost or valuation
At 1 May 2017	4
Provision
Carrying amount
At 30 April 2018	4
At 30 April 2017	4

Page 7

Braintree H C Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2018	2017
Subsidiary undertakings
Dunmow Hockey Club Limited	10 Beatty Gardens, Braintree, Essex CM7 9TA	Ordinary Shares	100%	100%
	England and Wales

Dunmow Hockey Club Limited was dormant for the financial year ended 31 March 2018. The Company has subsequently been dissolved.

The profit for the financial year of Dunmow Hockey Club Limited was £nil and the aggregate amount of capital and reserves at the end of the year was £49,242.

5

Debtors

	2018 £	2017 £
Trade debtors	3,948	3,664
Other debtors	1,291	1,175
Total current trade and other debtors	5,239	4,839

6

Creditors

Creditors: amounts falling due within one year

	Note	2018  £	2017  £
Due within one year
Social security and other taxes		-	705
Other creditors		23,557	20,235
		23,557	20,940
Due after one year
Loans and borrowings	8	-	1,000
Deferred income		30,370	36,520
Other non-current financial liabilities		67,598	76,262
		97,968	113,782

Page 8

Braintree H C Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

Creditors: amounts falling due after more than one year

	Note	2018 £	2017 £
Due after one year
Loans and borrowings	8	-	1,000
Deferred income		30,370	36,520
Other non-current financial liabilities		67,598	76,262
		97,968	113,782

7	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	9	9	9	9

8	Loans and borrowings

	2018 £	2017 £
Non-current loans and borrowings
Other borrowings	-	1,000

Page 9