Company Registration No. 09044411 (England and Wales)
DEER PARK ARCHERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
DEER PARK ARCHERS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
DEER PARK ARCHERS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr S M Howse
Mr R S Crang
Mrs K J Lawton
Miss C Anderton
Company number
09044411
Registered office
23 Jenner Close
Hucclecote
Gloucester
Gloucestershire
GL3 3DZ
Accountants
Darnells Chartered Accountants
Quay House
Quay Road
Newton Abbot
Devon
TQ12 2BU
DEER PARK ARCHERS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 2 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
5
186,111
199,647
Current assets
Debtors
6
213
100
Cash at bank and in hand
27,902
19,018
28,115
19,118
Creditors: amounts falling due within one year
7
(6,848)
(6,903)
Net current assets
21,267
12,215
Total assets less current liabilities
207,378
211,862
Creditors: amounts falling due after more than one year
8
(120,319)
(130,928)
Net assets
87,059
80,934
Reserves
Other reserves
55,806
55,806
Income and expenditure account
31,253
25,128
Members' funds
87,059
80,934
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he 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.
DEER PARK ARCHERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 12 July 2018 and are signed on its behalf by:
Mr S M Howse
Director
Company Registration No. 09044411
DEER PARK ARCHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
1
Accounting policies
Company information
Deer Park Archers Limited is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
23 Jenner Close, Hucclecote, Gloucester, Gloucestershire, GL3 3DZ.
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 a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3
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
Straight line over 10 or 25 years
Plant and machinery
Straight line over 2, 5 and 10 years
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 surplus or deficit
.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
DEER PARK ARCHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances
which
are measured at transaction price including transaction costs
.
Classification of financial liabilities
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities
Basic financial liabilities, including creditors and loans are classified as debt
and
are
initially recognised at transaction price
.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less.
If not, they are presented as non-current liabilities.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred
. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Exceptional costs/(income)
2018
2017
£
£
Wayleave
-
(6,600)
DEER PARK ARCHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 6 -
3
Operating surplus
2018
2017
Operating surplus for the year is stated after charging/(crediting):
£
£
Government and other grants
(11,877)
(10,476)
Depreciation of owned tangible fixed assets
14,111
11,679
4
Taxation
The company operates for the benefit of its members on a not for profit basis.
The company has Community Amateur Sports Club status and has no taxation liabilities arising from these accounts.
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2017
182,820
34,165
216,985
Additions
-
575
575
At 31 March 2018
182,820
34,740
217,560
Depreciation and impairment
At 1 April 2017
10,370
6,968
17,338
Depreciation charged in the year
7,515
6,596
14,111
At 31 March 2018
17,885
13,564
31,449
Carrying amount
At 31 March 2018
164,935
21,176
186,111
At 31 March 2017
172,450
27,197
199,647
6
Debtors
2018
2017
Amounts falling due within one year:
£
£
Service charges due
-
100
Other debtors
213
-
213
100
DEER PARK ARCHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 7 -
7
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
1,587
2,094
Accruals and deferred income
5,261
4,809
6,848
6,903
8
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other borrowings
6,000
8,000
Government and other grants
114,319
122,928
120,319
130,928
9
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.