Snowsport Cymru / Wales. Report and Accounts. 30 September 2016

Transcription

1 Registered number Snowsport Cymru / Wales Report and Accounts 30 September 2016

2 Report and accounts Contents Page Company information 1 Directors' report 2 Accountants' report 3 Profit and loss account 4 Balance sheet 5 Notes to the accounts 6

3 Company Information Directors Mr I D Fawcett Mrs Gwyneth Ann Watson Mr Nicholas Roe Mr Peter Ward Mr David Huw Evans Mr Richard David Hyett Mr Mark Robert Spencer James Mr Peter Robert Bishop Mr Peter Carl Stephen Harris Mrs Kate Potter Secretary Mr Robin Kellen Accountants Llewellyns Codas House Merthyr Road Whitchurch Cardiff CF14 1DJ Registered office Ski and Snowboard Centre 198 Fairwater Road Fairwater Cardiff CF5 3JR Registered number

4 Registered number: Directors' Report The directors present their report and accounts. Principal activities The company's principal activity during the year continued to be serving the needs of the sport and membership developing skiing and snowboarding in Wales Directors The following persons served as directors during the year: Mr I D Fawcett Mrs Gwyneth Ann Watson Mr Nicholas Roe Mr Peter Ward Mr David Huw Evans Mr Richard David Hyett Mr Mark Robert Spencer James Mr Peter Robert Bishop Mr Peter Carl Stephen Harris Mrs Kate Potter Small company provisions This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. This report was approved by the board on 30 November 2016 and signed on its behalf. Mr Mark Robert Spencer James Director 2

5 Report to the directors on the preparation of the unaudited statutory accounts of Snowsport Cymru / Wales In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Snowsport Cymru / Wales which comprise of the Profit and Loss Account, the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at Llewellyns Chartered Certified Accountants Codas House Merthyr Road Whitchurch Cardiff CF14 1DJ 30 November

6 Profit and Loss Account Notes Turnover 354, ,726 Cost of sales (101,416) (88,001) Gross profit 253, ,725 Administrative expenses (252,619) (241,763) Operating profit/(loss) (12,038) Interest receivable 15 9 Profit/(loss) on ordinary activities before taxation 563 (12,029) Tax on profit/(loss) on ordinary activities - - Profit/(loss) for the financial year 563 (12,029) 4

7 Balance Sheet as at 30 September 2016 Notes Fixed assets Tangible assets 3 38,606 49,494 Current assets Stocks 5,898 8,361 Debtors 4 4,851 4,500 Cash at bank and in hand 40,470 47,319 51,219 60,180 Creditors: amounts falling due within one year 5 (13,912) (30,269) Net current assets 37,307 29,911 Total assets less current liabilities 75,913 79,405 Creditors: amounts falling due after more than one year 6 (4,276) (8,331) Net assets 71,637 71,074 Capital and reserves Profit and loss account 7 71,637 71,074 Shareholders' funds 71,637 71,074 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. Mr Mark Robert Spencer James Director Approved by the board on 30 November

8 Notes to the Accounts 1 Accounting policies Basis of preparation The accounts 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 value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. Depreciation Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Ski Matting Ski Equipment Fixtures and Fittings Motor vehicles Computer Equipment 20% on cost 33% on reducing balance 25% on reducing balance 25% on reducing balance 25% on reducing balance Stocks Stock is valued at the lower of cost and net realisable value. Pensions The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. The pension cost charge represents contributions payable by the company to the fund and amounted to 3176 ( ). 2 Operating profit This is stated after charging: Depreciation of owned fixed assets 18,465 17,548 Pension costs 3,176 3,176 6

9 Notes to the Accounts 3 Tangible fixed assets Ski Matting & Ski Equipment F&F and Computer Equipment Motor vehicles Total Cost At 1 October ,629 21,278 27, ,111 Additions 5,117 2,457-7,574 At 30 September ,746 23,735 27, ,685 Depreciation At 1 October ,297 14,519 6, ,617 Charge for the year 10,333 3,029 5,100 18,464 At 30 September ,630 17,548 11, ,079 Net book value At 30 September ,116 6,187 15,303 38,606 At 30 September ,332 6,759 20,403 49,494 4 Debtors Trade debtors 1,000 4,500 Other debtors 3,851-4,851 4,500 5 Creditors: amounts falling due within one year Obligations under finance lease and hire purchase contracts 4,056 4,056 Trade creditors 6,500 6,250 Other taxes and social security costs 3,356 1,396 Other creditors - 18,567 13,912 30,269 6 Creditors: amounts falling due after one year Obligations under finance lease and hire purchase contracts 4,276 8,331 7 Profit and loss account 2016 At 1 October ,074 Profit for the year 563 At 30 September ,637 7

10 Detailed profit and loss account Sales Trading receipts ( including vending receipts ) 158, ,917 Rent receivable 5,940 5,940 Sports Council Grant 55,748 53,500 Other grants, donations and sponsorship 9,494 17,266 Subscriptions & registrations 29,662 21,718 Coach education 8,336 11,463 Athlete Development and events 77,885 69,072 Clothing, equipment and accessories sale 3,825 7,937 Sundry income 4,712 1, , ,726 Cost of sales Coach education 8,799 8,266 Athlete Development and events 85,773 70,840 Clothing, equipment and accessories for resale 6,844 8, ,416 88,001 GROSS SURPLUS Interest receivable 15 9 Expenses Rent and rates 4,355 1,758 Insurance 14,333 11,557 Light and heat 4,768 1,794 Equipment & slope maintenance 4,563 17,664 Bungalow expenses Salaries and Nic contributions 155, ,765 Freelance instructors 8,996 2,091 Pensions 3,176 3,176 Telephone 2,808 1,957 Post and Stationery 4,236 6,093 Advertising 3,022 1,740 Staff travel and subsistence Motor expenses 471 1,242 Meetings and conference Building maintenance 836 1,862 Cleaning and refreshments 311 1,354 Staff clothing, training and equipment 2,771 2,339 Sundry expenses 3,528 1,327 Administration fees 6,000 6,000 Accountancy 2,160 2,160 Subscriptions & registratration fees 8,003 8,152 Professional fees 592 1, , ,183 8

11 Detailed profit and loss account Finance costs Bank charges and interest 2,311 1,892 Lease charges ,496 2,031 Depreciation Ski matting 5,841 6,011 Ski equipment 4,492 2,484 Fixtures and fittings 2,745 2,038 Motor vehicles 5,101 6,801 Computer equipment ,463 17, (12,029) 9

12 Detailed profit and loss account Sales Sports Council Grant 55,000 53,500 Other grants, donations and sponsorship 4,494 4,500 Subscriptions & registrations 29,662 21,718 Coach education 8,336 11,463 Athlete Development and events 77,885 69,072 Clothing, equipment and accessories sale 3,825 7,937 Sundry income 4,712 1, , ,382 Cost of sales Coach education 8,799 8,266 Athlete Development and events 85,773 70,840 Clothing, equipment and accessories for resale 6,844 8, ,416 88,002 GROSS SURPLUS Interest receivable 8 1 Expenses Snowsport Wales Insurance 5,320 2,567 Salaries and Nic contributions 57,651 56,747 Pensions 3,176 3,176 Telephone 1, Post and Stationery 3,628 2,557 Staff travel and subsistence Motor expenses 471 1,242 Meetings and conference Sundry expenses Accountancy 1,080 1,080 Subscriptions & registratration fees Professional fees ,253 71,288 Finance costs Bank charges and interest Lease charges Depreciation Fixtures and fittings Motor vehicles 5,101 6,801 Computer equipment ,443 7, ,330 10

13 Detailed profit and loss account Sales Trading receipts ( including vending receipts ) 158, ,917 Rent receivable 5,940 5,940 Sports Council Grant Other grants, donations and sponsorship 5,000 12,766 Sundry income , ,343 GROSS SURPLUS Interest receivable 7 7 Expenses Cardiff Ski and Snowboard Centre Rent and rates 4,355 1,758 Insurance 9,013 8,990 Light and heat 4,768 1,794 Equipment & slope maintenance 4,563 17,664 Bungalow expenses Salaries and Nic contributions 97,550 90,018 Freelance instructors 8,996 2,091 Telephone 1,360 1,143 Post and Stationery 608 3,536 Advertising 3,022 1,740 Staff travel and subsistence Building maintenance 836 1,862 Cleaning and refreshments 311 1,354 Staff clothing, training and equipment 2,771 2,339 Sundry expenses 3, Administration fees 6,000 6,000 Accountancy 1,080 1,080 Subscriptions & registratration fees 7,453 7,200 Professional fees , ,892 Finance costs Bank charges and interest 1,579 1,304 Lease charges ,579 1,304 Depreciation Ski matting 5,841 6,011 Ski equipment 4,492 2,484 Fixtures and fittings 2,687 2,018 13,021 10,513 (331) (14,359) 11