The Lymington Mariners RFC - Filleted accounts

The Lymington Mariners RFC - Filleted accounts

THE LYMINGTON MARINERS RFC - Company Information

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Registered number
07656093
The Lymington Mariners RFC
Filleted Accounts
30 June 2022
The Lymington Mariners RFC
Registered number: 07656093
Balance Sheet
as at 30 June 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 275 769
Current assets
Cash at bank and in hand 14,195 12,806
Net current assets 14,195 12,806
Net assets 14,470 13,575
Capital and reserves
Profit and loss account 14,470 13,575
Shareholders' funds 14,470 13,575
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O J Cavell
Director
Approved by the board on 16 August 2022
The Lymington Mariners RFC
Notes to the Accounts
for the year ended 30 June 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 20% straight line
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Fixtures & fittings
£
Cost
At 1 July 2021 8,220
At 30 June 2022 8,220
Depreciation
At 1 July 2021 7,451
Charge for the year 494
At 30 June 2022 7,945
Net book value
At 30 June 2022 275
At 30 June 2021 769
4 Members' liability
The liability of each member is limited to £1.00, being the amount that each member undertakes to contribute to the assets of the Company in the event of it being wound up whilst they are a member or within one year after they cease to be a member.
5 Directors
Each member of the company is also a director. A director must be a member of the company.
6 Capital
The company is limited by guarantee and does not have any share capital.
7 Other information
The Lymington Mariners RFC is a private company limited by guarantee and incorporated in England. Its registered office is:
Coronation House
2 Queen Street
Lymington
Hampshire
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