ACCOUNTS - Final Accounts preparation

DEVER SPRINGS (ANGLING) LIMITED - Company Information

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Registered number: 03901249

DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2020

DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

REGISTERED NUMBER: 03901249

BALANCE SHEET

AS AT 30 APRIL 2020

		2020		2019
Note		£		£


Current assets
Stocks	5	725		725
Debtors: amounts falling due within one year	6	23,240		18,746
Cash at bank and in hand	7	12,321		15,484
		36,286		34,955
Creditors: amounts falling due within one year	8	(2,773)		(2,025)
Net current assets			33,513		32,930
Total assets less current liabilities			33,513		32,930

Net assets			33,513		32,930

Capital and reserves
Profit and loss account	33,513	32,930
	33,513	32,930

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 May 2021.

S J Barrett

Director

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DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

REGISTERED NUMBER: 03901249

BALANCE SHEET (CONTINUED)

AS AT 30 APRIL 2020

The notes on pages 3 to 7 form part of these financial statements.

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DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

1.	General information

Dever Springs (Angling) Limited is a private company, limited by guarantee and has no share capital, domiciled in England and Wales, registration number 03901249. The registered office is Barton Stacey, Winchester, Hampshire, SO21 3NP. The principal activity of the company continued to be that of activities of sports clubs.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £ sterling.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

2.Accounting policies (continued)

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery

20%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted averagebasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

2.Accounting policies (continued)

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2020	2019
	No.	No.

Office and administration	1	1

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DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 May 2019	18,496
	At 30 April 2020	18,496
	Depreciation
	At 1 May 2019	18,496
	At 30 April 2020	18,496
	Net book value
	At 30 April 2020	-
	At 30 April 2019	-

5.	Stocks
		2020	2019
		£	£

Stocks	725	725
	725	725

Debtors

					2020	2019
					£	£


Trade debtors	189	-
Other debtors	22,291	17,986
Prepayments and accrued income	760	760
	23,240	18,746

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DEVER SPRINGS (ANGLING) LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

7.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	12,321	15,484
	12,321	15,484

8.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	2,556	51
Other taxation and social security	-	49
Other creditors	13	39
Accruals and deferred income	204	1,886
	2,773	2,025


9.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

10.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered funds. The pension costs charge represents contributed payable by the company to the fund and amounts to £90 (2019: £265).
Contributions totaling £Nil (2019: £Nil) were payable to the fund at the balance sheet date.

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