Registration number:
Burnley Cricket Club Limited
for the Year Ended 30 September 2020
Burnley Cricket Club Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Burnley Cricket Club Limited
(Registration number: 00200977)
Balance Sheet as at 30 September 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
990 |
1,500 |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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5,996 |
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Profit and loss account |
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75,908 |
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Total equity |
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81,904 |
For the financial year ending 30 September 2020 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Burnley Cricket Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold land |
Not depreciated |
Pavilion and scoreboard |
10% per annum reducing balance basis |
Plant and machinery |
10% per annum reducing balance basis |
Burnley Cricket Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Burnley Cricket Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Tangible assets |
Freehold land and buildings |
Pavilion and scoreboard |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 October 2019 |
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Additions |
- |
- |
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At 30 September 2020 |
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Depreciation |
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At 1 October 2019 |
- |
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Charge for the year |
- |
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At 30 September 2020 |
- |
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Net book value |
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At 30 September 2020 |
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At 30 September 2019 |
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Burnley Cricket Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Investments |
2020 |
2019 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 October 2019 |
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Net book value |
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At 30 September 2020 |
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At 30 September 2019 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2020 |
2019 |
Subsidiary undertakings |
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Turf Moor, Burnley |
Ordinary shares |
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Subsidiary undertakings |
Burnley Cricket Club (Bar) Limited The principal activity of Burnley Cricket Club (Bar) Limited is |
Stocks |
2020 |
2019 |
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Stocks |
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Burnley Cricket Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Debtors |
2020 |
2019 |
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Other debtors |
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Creditors |
Note |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Note |
2020 |
2019 |
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Due after one year |
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Loans and borrowings |
- |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
|
|
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5,996 |
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5,996 |
Burnley Cricket Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Loans and borrowings |
2020 |
2019 |
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Non-current loans and borrowings |
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Hire purchase liabilities |
- |
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2020 |
2019 |
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Current loans and borrowings |
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Hire purchase liabilities |
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