Sandown Sports Club Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02662509 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

SANDOWN SPORTS CLUB LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

Director:

P Le Masurier

Registered office:

Sandown Sports Park

More Lane

Esher

Surrey

KT10 8AN

Registered number:

02662509 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sandown Sports Club Limited for the year ended 31 December 2021 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Sandown Sports Club Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sandown Sports Club Limited and state those matters that we have agreed to state to the director of Sandown Sports Club Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sandown Sports Club Limited and its director for our work or for this report.

It is your duty to ensure that Sandown Sports Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sandown Sports Club Limited. You consider that Sandown Sports Club Limited 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 financial statements of Sandown Sports Club Limited. 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 financial statements.

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

30 September 2022

Fixed assets

Tangible assets

4

395,218

461,313

Current assets

Debtors

5

42,075

24,817

Cash at bank and in hand

21,389

23,423

63,464

48,240

Creditors

Amounts falling due within one year

6

684,137

648,095

Net current liabilities

(620,673

)

(599,855

)

Total assets less current liabilities

(225,455

)

(138,542

)

Creditors

Amounts falling due after more than one year

7

(42,623

)

(70,956

)

Provisions for liabilities

(10,103

)

(13,087

)

Net liabilities

(278,181

)

(222,585

)

Capital and reserves

Called up share capital

8

140

140

Share premium

53,910

53,910

Revaluation reserve

16,667

16,667

Retained earnings

(348,898

)

(293,302

)

Shareholders' funds

(278,181

)

(222,585

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2022 and were signed by:

P Le Masurier - Director

1.	Statutory information

Sandown Sports Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the relevant information including the annual budget, and in response to Covid-19, have considered the company's available resources and ability to scale back the company's operations as required. The company will be able to continue to operate for the foreseeable future.

Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

over the length of the lease

Plant and machinery

-

Straight line over 5 to 6 years

Fixtures and fittings

-

Straight line over 5 to 6 years

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 37 (2020 - 42 ) .

4.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Cost

At 1 January 2021

876,860

468,944

229,149

1,574,953

Additions

-

3,509

-

3,509

At 31 December 2021

876,860

472,453

229,149

1,578,462

Depreciation

At 1 January 2021

503,645

387,670

222,325

1,113,640

Charge for year

46,542

20,931

2,131

69,604

At 31 December 2021

550,187

408,601

224,456

1,183,244

Net book value

At 31 December 2021

326,673

63,852

4,693

395,218

At 31 December 2020

373,215

81,274

6,824

461,313

5.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

23,940

1,212

Other debtors

18,135

23,605

42,075

24,817

6.

Creditors: amounts falling due within one year

2021

2020

£

£

Bank loans and overdrafts

6,210

-

Hire purchase contracts

19,167

18,066

Trade creditors

91,792

101,410

Taxation and social security

58,590

55,265

Other creditors

508,378

473,354

684,137

648,095

7.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Bank loans

40,834

50,000

Hire purchase contracts

1,789

20,956

42,623

70,956

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

140

Ordinary

£1

140

140

9.	Government grants

During the year to 31 December 2021, due to the Covid-19 pandemic and government restrictions, including lockdowns, the company received £109,456 of government assistance, including payments made under the furlough scheme.