Edinburgh Sports Club Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC019097 (Scotland)

Unaudited Financial Statements

For The Year Ended 30th June 2017

for

Edinburgh Sports Club Limited

Page

Company Information

1

Chairman's Statement

2

Balance Sheet

3

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

A Forrest

J McIvor

S Rowson

S Hunter

J Webster

SECRETARY:

S Rowson

REGISTERED OFFICE:

7 Belford Place

Edinburgh

EH4 3DH

REGISTERED NUMBER:

SC019097 (Scotland)

ACCOUNTANTS:

J.S. Mackie & Co. Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

The financial results are summarised in the Directors' Report. I am pleased to announce a profit of £13,483 (£1,335 -

2016) which is a substantial increase on the previous year.

Subscriptions of £224,903 (£208,342 - 2016), taking into account the 5% increase, has risen by 3% but, the principle

reason for the increased profit is the rise in 'Other Income' of £116,717 (£98,585 - 2016) whilst 'Administrative

Expenses' at £244,933 have been held and are only slightly above last year (£241,975 - 2016). 'Repairs & Renewals' at

£22,026 are below last year's level (£35,201 - 2016). See Note 12 less Establishment Costs, Finance Costs and

Depreciation.

Staff Costs of £134,880 (£143,540 - 2016) have fallen but, whilst the Bar & Restaurant turnover have increased so have

costs. The Bar showed a reduced profit of £6,295 (£9,569 - 2016) whilst the Restaurant continued to lose money at

£8,796 although this is almost in line with the 2016 loss of £8,404. Sterling's weakness is beginning to result in a rise in

the cost of goods.

Our major expenditure, which was capitalised, was the roof over padel court one, which cost approximately £38,000 and

whilst cash in the Bank has fallen to £65,491 (£97,526 - 2016) this is still £6,000 above the difference.

The overall activity level in the club has never been higher and this is evident in Coaching Income of £54,097 (£40,417 -

2016) and Court Hire Income of £11,094 (£8,130 - 2016). Increased footfall undoubtedly has a positive knock on to

Shop and Bar sales. We are pushing coaching across all sports both to members and non-members which is one of our

key planks in increasing membership.

FIXED ASSETS

Tangible assets

4

281,169

254,335

CURRENT ASSETS

Stocks

5

13,596

12,514

Debtors

6

4,632

7,189

Cash at bank and in hand

65,491

97,526

83,719

117,229

CREDITORS

Amounts falling due within one year

7

(74,120

)

(94,279

)

NET CURRENT ASSETS

9,599

22,950

TOTAL ASSETS LESS CURRENT LIABILITIES

290,768

277,285

CAPITAL AND RESERVES

Called up share capital

8

56

56

Retained earnings

290,712

277,229

SHAREHOLDERS' FUNDS

290,768

277,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2017 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 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 31st October 2017 and were signed on its behalf by:

A Forrest - Director

1.	STATUTORY INFORMATION

Edinburgh Sports Club Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

20-33% 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 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 18 .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Club

property

machinery

Trophies

£

£

£

COST

At 1st July 2016

435,966

108,094

690

Additions

52,399

-

46

At 30th June 2017

488,365

108,094

736

DEPRECIATION

At 1st July 2016

212,364

88,219

-

Charge for year

18,814

4,309

-

At 30th June 2017

231,178

92,528

-

NET BOOK VALUE

At 30th June 2017

257,187

15,566

736

At 30th June 2016

223,602

19,875

690

Fixtures

Computer

& fittings

equipment

Totals

£

£

£

COST

At 1st July 2016

13,499

3,401

561,650

Additions

-

780

53,225

At 30th June 2017

13,499

4,181

614,875

DEPRECIATION

At 1st July 2016

4,208

2,524

307,315

Charge for year

2,701

567

26,391

At 30th June 2017

6,909

3,091

333,706

NET BOOK VALUE

At 30th June 2017

6,590

1,090

281,169

At 30th June 2016

9,291

877

254,335

5.

STOCKS

2017

2016

£

£

Stocks

13,596

12,514

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,635

3,178

Other debtors

-

491

Prepayments and accrued income

2,997

3,520

4,632

7,189

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other loans

21,500

21,500

Trade creditors

27,535

9,127

Other creditors

548

1,259

Tax

546

599

Social security and other taxes

491

2,260

VAT

2,984

5,075

Other creditors

9,565

13,340

Accruals and deferred income

10,951

41,119

74,120

94,279

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

250

Ordinary

5p

56

56

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th June 2017 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

J.S. Mackie & Co. Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

31st October 2017