Cardiff City (House of Sport) Limited - Period Ending 2018-06-30
Cardiff City (House of Sport) Limited - Period Ending 2018-06-30
Registration number:
Cardiff City (House of Sport) Limited
Filleted
for the Year Ended 30 June 2018
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY
Cardiff City (House of Sport) Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Cardiff City (House of Sport) Limited
Company Information
Directors |
Mr K Choo Mr M K Lim Mrs J M Parker Mr S Borley |
Company secretary |
Acuity Secretaries Limited |
Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cardiff City (House of Sport) Limited
for the Year Ended 30 June 2018
As described on the balance sheet you are responsible for the compilation of the accounts for the year ended 30 June 2018, as set out on pages 3 to 12, and you consider that the company is exempt from an audit. In accordance with your instructions we have compiled the unaudited accounts from the accounting records and from information and explanations supplied to us.
Hazell Drive
Newport
South Wales
NP10 8FY
Page 2 |
Cardiff City (House of Sport) Limited
(Registration number: 07141377)
Balance Sheet as at 30 June 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 3 |
Cardiff City (House of Sport) Limited
(Registration number: 07141377)
Balance Sheet as at 30 June 2018
For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr S Borley
Director
Page 4 |
Cardiff City (House of Sport) Limited
Statement of Changes in Equity for the Year Ended 30 June 2018
Share capital |
Profit and loss account |
Total |
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At 1 July 2017 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 30 June 2018 |
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Share capital |
Profit and loss account |
Total |
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At 1 July 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 30 June 2017 |
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Page 5 |
Cardiff City (House of Sport) Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
General information |
The company registration number is: 07141377
The company is a private company limited by share capital incorporated in the United Kingdom.
The address of its registered office is:
The principal place of business is:
Clos Parc Morgannwg
Leckwith
Cardiff
CF11 8AQ
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land |
Nil |
Buildings |
2% straight line |
Furniture, fittings and equipment |
25% straight line |
Plant and equipment |
25% straight line |
Page 6 |
Cardiff City (House of Sport) Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Work in progress
The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 7 |
Cardiff City (House of Sport) Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 July 2017 |
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Additions |
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- |
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At 30 June 2018 |
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Depreciation |
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At 1 July 2017 |
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Charge for the year |
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At 30 June 2018 |
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Carrying amount |
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At 30 June 2018 |
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At 30 June 2017 |
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Included within the net book value of land and buildings above is £6,320,841 (2017 - £5,864,996) in respect of freehold land and buildings.
Stocks |
2018 |
2017 |
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Work in progress |
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Page 8 |
Cardiff City (House of Sport) Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Page 9 |
Cardiff City (House of Sport) Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Creditors |
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
55,457 |
11,261 |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
1,362,628 |
977,608 |
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Due after one year |
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Loans and borrowings |
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2018 |
2017 |
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After more than five years by instalments |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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250,000 |
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250,000 |
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250,000 |
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250,000 |
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Page 10 |
Cardiff City (House of Sport) Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Loans and borrowings |
2018 |
2017 |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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2018 |
2017 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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- |
Other borrowings |
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Bank borrowings
The bank loans are secured by a fixed charge against the buildings on the company balance sheet. |
The bank overdraft is secured by a floating charge against the company assets. |
Other borrowings
The other loans comprise of unsecured loans from related companies.
Page 11 |
Cardiff City (House of Sport) Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Related party transactions |
Key management personnel
Relationship: Directors
Summary of transactions with key management
Summary of transactions with other related parties
During the year, the company purchased goods and services to a value of £724,306 (2017 - £550,496) from one of its related companies. These transactions were carried out on normal commercial terms. The related company also charged management fees to the company during the year totalling £33,857 (2017 - £17,775).
Loans from related parties
2018 |
Other related parties |
At start of period |
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Advanced |
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Interest transactions |
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At end of period |
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2017 |
Other related parties |
At start of period |
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Advanced |
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Interest transactions |
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At end of period |
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Page 12 |