PONTELAND_LAWN_TENNIS_CLU - Accounts

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 2020 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.

Ponteland Lawn Tennis Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Nicholson and Morgan, 14 Bell Villas, Ponteland, Newcastle upon Tyne, NE20 9BE.

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.

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.

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:

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.

Taxation

Interest earned on monies held on deposit is normally liable to corporation tax however HMRC have removed the company from the charge to tax due to the small amounts involved.

Turnover

Turnover represents members subscriptions together with income generating operations associated with a lawn tennis club.

The average monthly number of persons (including directors) employed by the company during the year was:

On incorporation the club donated its assets to the company, these included Floodlights, Tennis courts and Furniture & equipment which had a nil written down value at 31 March 2014 and are therefore not included above.

During the year the Club was owed £4,160 (2019 - £4,160) in respect of a loan provided to the Ponteland Community Middle School. The loan is not subject to a formal agreement.

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.