REGISTERED NUMBER:
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 |
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REGISTERED NUMBER:
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 |
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED (REGISTERED NUMBER: 07268398) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED (REGISTERED NUMBER: 07268398) |
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BALANCE SHEET |
31 MAY 2021 |
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31.5.21 | 31.5.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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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 |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED (REGISTERED NUMBER: 07268398) |
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BALANCE SHEET - continued |
31 MAY 2021 |
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31.5.21 | 31.5.20 |
Notes | £ | £ |
RESERVES |
Income and expenditure account |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED (REGISTERED NUMBER: 07268398) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2021 |
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1. | STATUTORY INFORMATION |
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Stafford Rugby Union Football Club Limited is a
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The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of value added tax and trade discounts. The policies adopted for the recognition of turnover are as follows: |
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Turnover from the sale of goods, match fees and facilities hire is recognised when the significant risks and rewards of ownership have been transferred to the buyer, the amount of the turnover can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company. |
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Donations and sponsorship are recognised when the company has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. |
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Subscriptions are recognised over the period to which they relate. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED (REGISTERED NUMBER: 07268398) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease. |
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Government grants |
Government grants are recognised using the performance model. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received. When the grant does impose such conditions, it is recognised in income when those conditions are met. |
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Government Grants in respect of Covid-19 received as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised as income in the period in which the grant becomes receivable using the accruals model. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Investments |
Investments are recognised initially at fair value which is normally the transaction price less transaction costs. Subsequently, they are measured at fair value through profit or loss if they are shares that can be publicly traded or their fair value can be measured reliably. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED (REGISTERED NUMBER: 07268398) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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DEPRECIATION |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 1 June 2020 |
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Revaluations | ( |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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Cost or valuation at 31 May 2021 is represented by: |
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Other |
investments |
£ |
Valuation in 2021 | 63,065 |
STAFFORD RUGBY UNION FOOTBALL CLUB |
LIMITED (REGISTERED NUMBER: 07268398) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 688 | - |
Other creditors |
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Accrued expenses |
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Deferred grants |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Deferred grants |
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9. | SECURED DEBTS |
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A negative pledge charge is registered in relation to the grant awarded to the company from The English Sports Council. |
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The English Sports Council, with full title guarantee, charges to the company the land lying north of Doxey Lane, Stafford by way of legal mortgage, with payment or discharge of the secured liabilities payable upon demand upon breach by the company of any of the terms and conditions of the awarded grant. |