COMPANY REGISTRATION NUMBER:
08542735
European Billiards & Snooker Association Ltd
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Company Limited by Guarantee
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Filleted Unaudited Financial Statements
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European Billiards & Snooker Association Ltd
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Company Limited by Guarantee
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Statement of Financial Position
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31 December 2018
Fixed assets
Tangible assets
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5
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3,348
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3,939
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Current assets
Stocks
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–
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355
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Debtors
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6
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3,068
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11,374
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Cash at bank and in hand
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138,568
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112,672
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---------
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---------
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141,636
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124,401
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Creditors: amounts falling due within one year
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7
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1,934
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1,800
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---------
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---------
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Net current assets
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139,702
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122,601
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---------
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---------
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Total assets less current liabilities
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143,050
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126,540
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---------
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---------
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Net assets
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143,050
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126,540
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---------
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---------
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Capital and reserves
Profit and loss account
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143,050
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126,540
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---------
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---------
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Members funds
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143,050
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126,540
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---------
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---------
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These 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 statement of income and retained earnings has not been delivered.
For the year ending 31 December 2018 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 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 financial statements
.
European Billiards & Snooker Association Ltd
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Company Limited by Guarantee
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Statement of Financial Position (continued)
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31 December 2018
These financial statements were approved by the
board of directors
and authorised for issue on
15 April 2019
, and are signed on behalf of the board by:
Company registration number:
08542735
European Billiards & Snooker Association Ltd
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Company Limited by Guarantee
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Notes to the Financial Statements
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Year ended 31 December 2018
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 8 Coedcelyn Road, Sketty, Swansea, SA2 8DS.
The principal activity of the company is the organising of billiards and snooker championships.
2.
Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents income received by the company during the period.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
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Equipment
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-
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15% reducing balance
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Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Company limited by guarantee
The company is limited by Guarantee, not having a share capital. The guarantee is provided by the members of the company, and is a maximum of £1 per member. Under the terms of the Articles of Association, no dividends or other distributions to members are permitted.
5.
Tangible assets
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Equipment
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Total
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£
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£
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Cost
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At 1 January 2018 and 31 December 2018
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5,186
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5,186
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-------
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-------
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Depreciation
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At 1 January 2018
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1,247
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1,247
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Charge for the year
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591
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591
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-------
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-------
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At 31 December 2018
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1,838
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1,838
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-------
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-------
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Carrying amount
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At 31 December 2018
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3,348
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3,348
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-------
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-------
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At 31 December 2017
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3,939
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3,939
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-------
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-------
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6.
Debtors
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2018
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2017
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£
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£
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Other debtors
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3,068
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11,374
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-------
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--------
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7.
Creditors:
amounts falling due within one year
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2018
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2017
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£
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£
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Other creditors
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134
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–
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Other creditors
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1,800
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1,800
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-------
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-------
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1,934
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1,800
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-------
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-------
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8.
Related party transactions
There was no controlling party during the period.