Company registration number 00424510 (England and Wales)
ABERGAVENNY CRICKET GROUND COMPANY, LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ABERGAVENNY CRICKET GROUND COMPANY, LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ABERGAVENNY CRICKET GROUND COMPANY, LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
858
858
Investments
4
352
310
1,210
1,168
Current assets
Debtors
5
163
154
Cash at bank and in hand
4,881
4,742
5,044
4,896
Creditors: amounts falling due within one year
6
(97)
(101)
Net current assets
4,947
4,795
Total assets less current liabilities
6,157
5,963
Provisions for liabilities
(90)
(90)
Net assets
6,067
5,873
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
5,067
4,873
Total equity
6,067
5,873
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 31 March 2023 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.
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.
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 30 June 2023 and are signed on its behalf by:
Mr M J Davies
Director
Company Registration No. 00424510
ABERGAVENNY CRICKET GROUND COMPANY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Abergavenny Cricket Ground Company, Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o UHY Hacker Young, 23 Nevill Street, Abergavenny, Monmouthshire, United Kingdom, NP7 5AA.
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
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:
Land and buildings freehold
No depreciation is provided
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.
1.3
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arsing from impairment are recognised in the profit and loss account in other administrative expenses.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ABERGAVENNY CRICKET GROUND COMPANY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 and 31 March 2023
858
Depreciation and impairment
At 1 April 2022 and 31 March 2023
Carrying amount
At 31 March 2023
858
At 31 March 2022
858
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
352
310
ABERGAVENNY CRICKET GROUND COMPANY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2022
310
Valuation changes
42
At 31 March 2023
352
Carrying amount
At 31 March 2023
352
At 31 March 2022
310
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
163
154
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
46
51
Other creditors
51
50
97
101
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
8
Directors' transactions
Dividends totalling £0 (2022 - £50) were paid in the year in respect of shares held by the company's directors.