Leighton Buzzard Rugby Football Club L - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07237935 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

FOR

LEIGHTON BUZZARD RUGBY FOOTBALL CLUB

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Arthur

M G Hardy

L Beaumont

G Fletcher

R M Evans

J R Davis

SECRETARY:

M G Hardy

REGISTERED OFFICE:

Wrights Meadow

Leighton Road

Stanbridge

Nr Leighton Buzzard

Bedfordshire

LU7 9HR

REGISTERED NUMBER:

07237935 (England and Wales)

ACCOUNTANTS:

ECL Howard Watson Smith LLP

Chartered Accountants

ECL House

Lake Street

Leighton Buzzard

Bedfordshire

LU7 1RT

FIXED ASSETS

Tangible assets

5

1,348,667

1,384,169

CURRENT ASSETS

Stocks

3,750

6,147

Debtors

6

2,060

9,207

Cash at bank and in hand

144,613

30,355

150,423

45,709

CREDITORS

Amounts falling due within one year

7

122,361

36,264

NET CURRENT ASSETS

28,062

9,445

TOTAL ASSETS LESS CURRENT LIABILITIES

1,376,729

1,393,614

CREDITORS

Amounts falling due after more than one year

8

74,409

44,216

NET ASSETS

1,302,320

1,349,398

RESERVES

Accumulated funds

10

1,622,651

1,622,651

Income and expenditure account

10

(320,331

)

(273,253

)

1,302,320

1,349,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 surplus or deficit 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2021 and were signed on its behalf by:

R M Evans - Director

L Beaumont - Director

1.	STATUTORY INFORMATION

Leighton Buzzard Rugby Football Club Limited is a private company, limited by guarantee , 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

The company's turnover represents the value, excluding value added tax, of subscriptions from playing and non playing members and sponsorship of players and kit.

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

-

2% on valuation

Land

-

not provided

Fixtures and fittings

-

5% on cost

Radio mast land

-

not provided

Floodlights

-

5% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Grants

Government grants are recognised in the income statement so as to match them with the expenditure towards which they are intended to contribute. Grants receivable against capital expenditure are released to the income statement account to offset the appropriate proportion of the depreciation charge for each relevant fixed asset.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate payable and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income and expenditure account in expenditure.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

Land

fittings

£

£

£

COST

At 1 May 2020

and 30 April 2021

1,653,881

48,000

94,072

DEPRECIATION

At 1 May 2020

498,352

-

61,159

Charge for year

33,056

-

4,601

At 30 April 2021

531,408

-

65,760

NET BOOK VALUE

At 30 April 2021

1,122,473

48,000

28,312

At 30 April 2020

1,155,529

48,000

32,913

Radio

mast land

Floodlights

Totals

£

£

£

COST

At 1 May 2020

and 30 April 2021

100,000

90,689

1,986,642

DEPRECIATION

At 1 May 2020

-

36,273

595,784

Charge for year

-

4,534

42,191

At 30 April 2021

-

40,807

637,975

NET BOOK VALUE

At 30 April 2021

100,000

49,882

1,348,667

At 30 April 2020

100,000

54,416

1,390,858

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

120

3,691

Other debtors

1,026

1,026

VAT

399

2,185

Prepayments

515

2,305

2,060

9,207

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

3,687

-

Other loans

7,924

6,924

Trade creditors

(398

)

2,301

Social security and other taxes

449

126

Other creditors

45,753

16,007

Accruals and deferred income

62,750

8,710

Deferred grants

2,196

2,196

122,361

36,264

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans - 1-2 years

4,120

-

Bank loans - 2-5 years

12,994

-

Bank loans more than 5 years by instalments

19,199

-

Other loans due within 1-2 years

2,924

3,924

Other loans due within 2-5 years

11,696

8,772

Other loans more than 5 years by instalments

1,516

7,364

Deferred grants

21,960

24,156

74,409

44,216

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years by instalments

19,199

-

Other loans more than 5 years by instalments

1,516

7,364

20,715

7,364

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Other loans

24,060

26,984

10.

RESERVES

Accumulated funds represent the total funds transferred to the limited company from its previous entity as an unincorporated business. It is comprised of:

Revaluation reserve

1,602,842

Income and expenditure account

19,809

£1,622,651

The accumulated deficit on the income and expenditure account represents the period from when the limited company commenced trading to the Balance Sheet date.

11.	POST BALANCE SHEET EVENTS

The company has been considerably affected by the global covid-19 pandemic. During late April 2021, grants totalling £62,000 were received. These grants will be recognised as income in the following accounting period and will be used to fund the shortfall in trading activities during the next twelve months, caused by the covid-19 pandemic. The directors consider that the company will continue to operate for the foreseeable future.

12.	LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital. In the event of the company being wound up, the members are liable to contribute a sum not exceeding £1 each.

13.

PENSION

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. At the year end £44 (2020: £51) was due to be paid to the pension administrator.