Company Registration No. 09803846 (England and Wales)
Long Reach Lake Water Sports Club Ltd
Unaudited accounts
for the year ended 30 September 2019
Long Reach Lake Water Sports Club Ltd
Unaudited accounts
Contents
Long Reach Lake Water Sports Club Ltd
Company Information
for the year ended 30 September 2019
Directors
Mr J Price
Mr J Marshall
Mr D Lyon
Mr R Allen
Company Number
09803846 (England and Wales)
Registered Office
5 Mandeville Road
Brampton
Huntingdon
Cambridgeshire
PE28 4SB
Long Reach Lake Water Sports Club Ltd
Statement of financial position
as at
30 September 2019
Tangible assets
3,630
4,207
Cash at bank and in hand
54,317
51,457
Creditors: amounts falling due within one year
(1,960)
(10,831)
Net current assets
52,804
41,977
Profit and loss account
56,434
46,184
Members' funds
56,434
46,184
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2020 and were signed on its behalf by
Mr R Allen
Director
Company Registration No. 09803846
Long Reach Lake Water Sports Club Ltd
Notes to the Accounts
for the year ended 30 September 2019
Long Reach Lake Water Sports Club Ltd is a private company, limited by guarantee, registered in England and Wales, registration number 09803846. The registered office is 5 Mandeville Road, Brampton, Huntingdon, Cambridgeshire, PE28 4SB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the sale of goods and from the membership of the club.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point of drawing LPG from the tank.
Revenue from memberships is recognised in the year received with the membership period ending on 30 September, in line with the company year end.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Long Reach Lake Water Sports Club Ltd
Notes to the Accounts
for the year ended 30 September 2019
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 30 September 2019
6,755
At 30 September 2019
3,125
At 30 September 2019
3,630
At 30 September 2018
4,207
7
Creditors: amounts falling due within one year
2019
2018
Trade creditors
560
5,231
Other creditors
1,400
1,400
8
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9
Average number of employees
During the year the average number of employees was 4 (2018: 5).
Long Reach Lake Water Sports Club Ltd
Notes to the Accounts
for the year ended 30 September 2019
10
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 October 2017
30 September 2018
Capital and reserves (as previously stated)
35,634
46,184
Removal of accrual for provision not contracted for
10,550
-
Capital and reserves (as restated)
46,184
46,184
It has been recognised by the Directors that in the previous year an accrual has been made for items which they thought would be expended but have not entered into contract for or received the benefit of the items accrued for. It has been agreed that this is a error and so the accrual has been released back into the profit and loss reserve as a prior year adjustment.