Chipstead Rugby Football Club Limited. Report and Accounts. 31 May 2016

Transcription

1 Registered number Chipstead Rugby Football Club Limited Report and Accounts 31 May 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 Detailed profit and loss account 9 Corporation tax computation 11 Capital allowances and deferred taxation 12

3 Company Information Directors C.R. Vaughan P.J. Mills - resigned 16 July 2015 R.W. Adair C.E. Powley S.M. Burrough R.A. Wright - resigned 16 July 2015 P. White B.P. Ratcliff - appointed 16 July 2015 C.A. Dupe - appointed 18 July 2015 Secretary P. White Accountants A. Cressy Associates Ltd. The Main Gate House, Redhill Aerodrome Kings Mill Lane Reigate Surrey RH15JY Bankers Barclays Bank plc Kingswood Branch Epsom Group of Branches Surrey KT19 8BH Registered office The Meads High Road Chipstead Surrey CR5 3SB Registered number

4 Registered number: Directors' Report The directors present their report and accounts for the year ended 31 May Principal activities The company's principal activity during the year continued to be that of an amateur rugby club. Directors The following persons served as directors during the year: C.R. Vaughan P.J. Mills - resigned 16 July 2015 R.W. Adair C.E. Powley S.M. Burrough R.A. Wright - resigned 16 July 2015 P. White B.P. Ratcliff - appointed 16 July 2015 C.A. Dupe - appointed 18 July 2015 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 14 July 2016 and signed on its behalf. R.W. Adair Director 2

5 Accountants' Report Accountants' report to the directors of Chipstead Rugby Football Club Limited You consider that the company is exempt from an audit for the year ended 31 May You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. A. Cressy Associates Ltd. Accountants The Main Gate House, Redhill Aerodrome Kings Mill Lane Reigate Surrey RH15JY 14 July

6 Profit and Loss Account for the year ended 31 May 2016 Notes Turnover 81,280 81,271 Cost of sales (56,995) (65,670) Gross profit 24,285 15,601 Administrative expenses (35,351) (42,910) Other operating income 7,405 13,854 Operating loss 2 (3,661) (13,455) Interest payable 3 (161) (258) Loss on ordinary activities before taxation (3,822) (13,713) Tax on loss on ordinary activities - - Loss for the financial year (3,822) (13,713) 4

7 Balance Sheet as at 31 May 2016 Notes Fixed assets Tangible assets 4 75,677 81,034 Current assets Stocks 3,450 5,283 Debtors 5 4,520 2,692 Cash at bank and in hand 35,119 41,529 43,089 49,504 Creditors: amounts falling due within one year 6 (8,103) (14,053) Net current assets 34,986 35,451 Total assets less current liabilities 110, ,485 Creditors: amounts falling due after more than one year 7 (6,000) (8,000) Net assets 104, ,485 Capital and reserves Capital reserve 8 111, ,445 Profit and loss account 9 (6,425) (7,960) Shareholders' funds 104, ,485 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. R.W. Adair Director Approved by the board on 14 July

8 Notes to the Accounts for the year ended 31 May 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. Plant and machinery 25% Reducing balance Clubhouse improvements Over period to 30 September 2033 Stocks Stock is valued at the lower of cost and net realisable value. 2 Operating profit This is stated after charging: Depreciation of owned fixed assets 5,357 5,268 Depreciation of assets held under finance leases and hire purchase contracts Interest payable Interest payable

9 Notes to the Accounts for the year ended 31 May Tangible fixed assets Plant and Land and buildings machinery etc Total Cost At 1 June ,392 6,399 86,791 At 31 May ,392 6,399 86,791 Depreciation At 1 June ,157 1,600 5,757 Charge for the year 4,157 1,200 5,357 At 31 May ,314 2,800 11,114 Net book value At 31 May ,078 3,599 75,677 At 31 May ,235 4,799 81,034 5 Debtors Other debtors 4,520 2,692 6 Creditors: amounts falling due within one year Obligations under finance lease and hire purchase contracts Other creditors 8,103 13,409 8,103 14,053 7 Creditors: amounts falling due after one year Bank loans 6,000 8,000 8 Capital reserve 2016 At 1 June ,445 Transfer from the profit and loss account (5,357) At 31 May ,088 7

10 Notes to the Accounts for the year ended 31 May Profit and loss account 2016 At 1 June 2015 (7,960) Loss for the year (3,822) Transfer from capital reserve 5,357 At 31 May 2016 (6,425) 10 Company limited by guarantee The liability of each member is limited to 1, being the amount that each member undertakes to contribute to the assets of the Club in the event of its being wound up while he is a member or within one year after he ceases to be a member, for - (a) payment of the Club's debts and liabilities contracted before he ceases to be a member, (b) payment of the costs, charges and expenses of winding up, and (c) adjustment of the rights of the contributories among themselves 8

11 Detailed profit and loss account for the year ended 31 May Sales 81,280 81,271 Cost of sales (56,995) (65,670) Gross profit 24,285 15,601 Administrative expenses (35,351) (42,910) Other operating income 7,405 13,854 Operating loss (3,661) (13,455) Interest payable (161) (258) Loss before tax (3,822) (13,713) 9

12 Detailed profit and loss account for the year ended 31 May Sales Bar sales 45,657 43,803 Social memberships 3,580 3,012 Memberships 32,043 34,456 81,280 81,271 Cost of sales Bar purchases 22,052 30,690 Decrease/(increase) in stocks 2,736 (5,157) Direct labour 6,862 9,357 Other direct costs 1, Playing expenses 23,700 29,880 56,995 65,670 Administrative expenses Premises costs: Rent 7,232 6,377 Rates 224 3,980 Light and heat 4,299 4,687 Cleaning 3,821 3,883 15,576 18,927 General administrative expenses: Telephone and fax Postage, printing and stationery Bank charges 95 - Insurance 1,933 2,359 Equipment expensed - 4,199 Repairs and maintenance 9,658 9,080 Depreciation 5,357 5,757 Sundry expenses ,987 22,352 Legal and professional costs: Accountancy fees 1,500 1,500 Advertising and PR ,788 1,631 35,351 42,910 Other operating income Donations 2,408 5,063 May Ball net income 1, RFU Tickets net income (2,124) 2,721 Other operating income 5,729 5,191 7,405 13,854 10

13 Corporation tax computation Tax reference Period beginning 1/06/15 Period ending 31/05/16 Accounts period beginning 1/06/15 Accounts period ending 31/05/16 Adjustment of trading profits Loss before tax per the accounts (3,822) Add back disallowable expenses Depreciation and (profit)/loss on sale of assets 5,357 Deduct non-trading income Transactions with members (1,535) Adjusted trading profit - Taxable profits Trading profit - - Taxable profit - Days in accounting period falling in each tax year Days falling Tax year in tax year Days in year Corporation tax payable Tax year Taxable profit Tax rate Corp Tax % % - - Corporation tax payable - Marginal rate relief - Corporation tax payable net of marginal rate relief - 11

14 Capital allowances Tax reference Period beginning 1/06/15 Period ending 31/05/16 Summary Total capital allowances - 12