Statement of Consent to Prepare Abridged Financial Statements
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All of the members of The Sydenham Cricket and Sports Ground Ltd have consented to the preparation of the abridged statement of financial position for the year ending 30 September 2019 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
00207390
The Sydenham Cricket and Sports Ground Ltd
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Filleted Unaudited Abridged Financial Statements
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The Sydenham Cricket and Sports Ground Ltd
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
The Sydenham Cricket and Sports Ground Ltd
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Year ended 30 September 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of The Sydenham Cricket and Sports Ground Ltd for the year ended 30 September 2019, which comprise the abridged statement of financial position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of The Sydenham Cricket and Sports Ground Ltd, as a body. Our work has been undertaken solely to prepare for your approval the abridged financial statements of The Sydenham Cricket and Sports Ground Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Sydenham Cricket and Sports Ground Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that The Sydenham Cricket and Sports Ground Ltd has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Sydenham Cricket and Sports Ground Ltd. You consider that The Sydenham Cricket and Sports Ground 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 abridged financial statements of The Sydenham Cricket and Sports Ground 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 abridged financial statements.
MOORE GREEN
Chartered accountants
22 Friars Street
Sudbury
Suffolk
CO10 2AA
The Sydenham Cricket and Sports Ground Ltd
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Abridged Statement of Financial Position
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30 September 2019
Fixed assets
Tangible assets
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5
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309,450
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311,025
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Investments
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6
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122,473
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128,982
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---------
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431,923
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440,007
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Current assets
Debtors
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12,344
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16,369
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Cash at bank and in hand
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12,010
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3,542
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24,354
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19,911
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Creditors: amounts falling due within one year
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12,491
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14,076
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Net current assets
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11,863
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5,835
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Total assets less current liabilities
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443,786
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445,842
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Net assets
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443,786
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445,842
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Capital and reserves
Called up share capital
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79
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79
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Revaluation reserve
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281,053
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281,053
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Profit and loss account
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162,654
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164,710
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Shareholders funds
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443,786
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445,842
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These abridged 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 income statement has not been delivered.
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
The Sydenham Cricket and Sports Ground Ltd
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Abridged Statement of Financial Position (continued)
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30 September 2019
These abridged financial statements were approved by the
board of directors
and authorised for issue on
15 March 2020
, and are signed on behalf of the board by:
Mr G A P Leigh-Pollitt (Chairman)
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Director
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Company registration number:
00207390
The Sydenham Cricket and Sports Ground Ltd
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Notes to the Abridged Financial Statements
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Year ended 30 September 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided in respect of freehold properties as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such Properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.
Dividends received are accounted for on the basis of cash received plus the attributable tax credit.
No provision has been made for deferred taxation as timing differences are considered to be immaterial.
Revenue recognition
Turnover represents the total rents receivable net of value added tax.
Tangible assets
All fixed assets are initially recorded at cost. No depreciation is provided on freehold land and property as, in the opinion of the directors, the amount would not be material.
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:
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2018:
4
).
5.
Tangible assets
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£
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Cost
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At 1 October 2018 and 30 September 2019
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315,750
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Depreciation
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At 1 October 2018
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4,725
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Charge for the year
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1,575
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At 30 September 2019
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6,300
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Carrying amount
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At 30 September 2019
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309,450
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At 30 September 2018
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311,025
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6.
Investments
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£
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Cost
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At 1 October 2018
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128,982
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Additions
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18,902
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Disposals
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(
34,265)
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Revaluations
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8,854
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At 30 September 2019
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122,473
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Impairment
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At 1 October 2018 and 30 September 2019
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–
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Carrying amount
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At 30 September 2019
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122,473
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At 30 September 2018
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128,982
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7.
Directors' advances, credits and guarantees
There are no such transactions for the accounting period.