Company Registration No. 00207390 (England and Wales)
THE SYDENHAM CRICKET AND SPORTS GROUND LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
THE SYDENHAM CRICKET AND SPORTS GROUND LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
THE SYDENHAM CRICKET AND SPORTS GROUND LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2021
30 September 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
306,300
307,875
Investments
4
155,308
125,910
461,608
433,785
Current assets
Debtors
5
12,872
12,219
Cash at bank and in hand
4,341
4,999
17,213
17,218
Creditors: amounts falling due within one year
6
(10,725)
(9,692)
Net current assets
6,488
7,526
Net assets
468,096
441,311
Capital and reserves
Called up share capital
79
79
Revaluation reserve
7
281,053
281,053
Profit and loss reserves
186,964
160,179
Total equity
468,096
441,311
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 March 2022 and are signed on its behalf by:
J Stoy
Director
Company Registration No. 00207390
THE SYDENHAM CRICKET AND SPORTS GROUND LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 2 -
1
Accounting policies
Company information
The Sydenham Cricket and Sports Ground Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
22 Friars Street, Sudbury, Suffolk, CO10 2AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Ground Sydenham
Not depreciated
Pavillion Sydenham
Not depreciated
Unit construction
10% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
THE SYDENHAM CRICKET AND SPORTS GROUND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 3 -
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Financial instruments
Basic financial liabilities
These
financial statements
for the year ended 30 September 2021
are the
first
financial statements
of
The Sydenham Cricket and Sports Ground Ltd
prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was
1 October 2019
. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
THE SYDENHAM CRICKET AND SPORTS GROUND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
4
4
3
Tangible fixed assets
Ground Sydenham
Pavillion Sydenham
Unit construction
Total
£
£
£
£
Cost
At 1 October 2020 and 30 September 2021
221,714
78,286
15,750
315,750
Depreciation and impairment
At 1 October 2020
7,875
7,875
Depreciation charged in the year
1,575
1,575
At 30 September 2021
9,450
9,450
Carrying amount
At 30 September 2021
221,714
78,286
6,300
306,300
At 30 September 2020
221,714
78,286
7,875
307,875
4
Fixed asset investments
2021
2020
£
£
Other investments other than loans
155,308
125,910
THE SYDENHAM CRICKET AND SPORTS GROUND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2020
125,910
Valuation changes
29,398
At 30 September 2021
155,308
Carrying amount
At 30 September 2021
155,308
At 30 September 2020
125,910
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
7,075
4,893
Other debtors
5,797
7,326
12,872
12,219
6
Creditors: amounts falling due within one year
2021
2020
£
£
Taxation and social security
98
65
Other creditors
10,627
9,627
10,725
9,692
7
Revaluation reserve
2021
2020
£
£
At the beginning and end of the year
281,053
281,053
8
Directors' transactions
The directors consider that there are no transactions to disclose.