Registration number:
(A company limited by guarantee)
for the Year Ended
Exeter & District Ski Club Ltd
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Exeter & District Ski Club Ltd
Company Information
Directors |
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Company secretary |
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Registered office |
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Solicitors |
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Bankers |
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Accountants |
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Exeter & District Ski Club Ltd
Directors' Report for the Year Ended 30 June 2016
The directors present their report and the unaudited financial statements for the year ended 30 June 2016.
Directors of the company
The directors who held office during the year were as follows:
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on
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C Bishop
Director
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D Blanchard
Director
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J C Redwood
Director
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Exeter & District Ski Club Ltd
for the Year Ended 30 June 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Exeter & District Ski Club Ltd for the year ended 30 June 2016 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html .
This report is made solely to the Board of Directors of Exeter & District Ski Club Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Exeter & District Ski Club Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exeter & District Ski Club Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Exeter & District Ski Club Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Exeter & District Ski Club Ltd. You consider that Exeter & District Ski Club 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 accounts of Exeter & District Ski Club 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 accounts.
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Redwoods
Chartered Certified Accountants
2 Clyst Works,
Clyst Road, Topsham
Exeter
EX3 0DB
24 March 2017
Exeter & District Ski Club Ltd
Profit and Loss Account for the Year Ended 30 June 2016
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2016
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2015
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Turnover |
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Cost of sales |
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Gross profit |
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Administrative expenses |
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Other operating income |
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Operating profit |
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Other interest receivable and similar income |
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Profit on ordinary activities before taxation |
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Tax on profit on ordinary activities |
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Profit for the financial year |
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4
Exeter & District Ski Club Ltd
(Registration number: 4902237)
Balance Sheet at 30 June 2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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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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Net assets |
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Capital and reserves |
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Profit and loss account |
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Shareholders' funds |
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Exeter & District Ski Club Ltd
(Registration number: 4902237)
Balance Sheet at 30 June 2016
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Approved and authorised for issue by the Board on
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C Bishop
Director
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D Blanchard
Director
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J C Redwood
Director
6
Exeter & District Ski Club Ltd
Notes to the Financial Statements for the Year Ended 30 June 2016
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Accounting policies |
Basis of preparation
Turnover
Depreciation
Impairment
At each reporting date fixed assets, including tangible fixed assets, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is higher of its value in use and net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows
Asset class |
Depreciation method and rate |
Ski slope |
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Ski lodge |
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Equipment |
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Stock
Hire purchase and leasing
Operating profit |
Operating profit is stated after charging:
2016
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2015
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Depreciation of tangible fixed assets |
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Exeter & District Ski Club Ltd
Notes to the Financial Statements for the Year Ended 30 June 2016
......... continued
Taxation |
Tax on profit on ordinary activities
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2015
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Current tax |
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Corporation tax charge |
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Tangible fixed assets |
Ski slope
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Equipment
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Ski lodge
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Total
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Cost or valuation |
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At 1 July 2015 |
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Additions |
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At 30 June 2016 |
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Depreciation |
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At 1 July 2015 |
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Charge for the year |
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At 30 June 2016 |
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Net book value |
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At 30 June 2016 |
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At 30 June 2015 |
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Debtors |
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2015
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Trade debtors |
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Other debtors |
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Creditors: Amounts falling due within one year |
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2015
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Trade creditors |
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Exeter & District Ski Club Ltd
Notes to the Financial Statements for the Year Ended 30 June 2016
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Company status |
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
Reserves |
Profit and loss account
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Total
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At 1 July 2015 |
91,815 |
91,815 |
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Profit for the year |
3,026 |
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At 30 June 2016 |
94,841 |
94,841 |
Commitments |
Operating lease commitments |
As at 30 June 2016 the company had annual commitments under non-cancellable operating leases as follows: |
Operating leases which expire: |
2016
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2015
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Within one year |
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Related party transactions |
Other related party transactions |
During the year the company made the following related party transactions: |
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