Abbey Cross Angling Society Limited |
Registered number: |
05617105 |
Balance Sheet |
as at 31 December 2017 |
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
79,054 |
|
|
79,054 |
|
Current assets |
Debtors |
4 |
|
8,500 |
|
|
9,714 |
Cash at bank and in hand |
|
|
333,932 |
|
|
90,714 |
|
|
|
342,432 |
|
|
100,428 |
|
Creditors: amounts falling due within one year |
5 |
|
(6,824) |
|
|
(17,415) |
|
Net current assets |
|
|
|
335,608 |
|
|
83,013 |
|
Total assets less current liabilities |
|
|
|
414,662 |
|
|
162,067 |
|
|
Provision |
6 |
|
|
(264,511) |
|
|
- |
|
|
Net assets |
|
|
|
150,151 |
|
|
162,067 |
|
|
|
|
|
|
|
|
Capital and reserves |
Profit and loss account |
|
|
|
150,151 |
|
|
162,067 |
|
Shareholders' funds |
|
|
|
150,151 |
|
|
162,067 |
|
|
|
|
|
|
|
|
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 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. |
|
|
|
|
C F Janes |
Director |
Approved by the board on 19 March 2018 |
|
Abbey Cross Angling Society Limited |
Notes to the Accounts |
for the year ended 31 December 2017 |
|
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. |
|
|
Turnover |
|
Turnover represents subscriptions and enrolment fees received from members. |
|
|
Tangible fixed assets |
|
No depreciation is provided on the land and waters as although they have not been valued at the balance sheet date the directors' consider their value to be similar to their original cost. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
Corporation tax is only liable on bank interest received. |
|
2 |
FRS 102 |
|
The company's land and waters have not been included in the accounts at their open market value as required by Financial Reporting Standard 102. As stated in note 1 above the directors consider their value to be similar to their original cost. |
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 January 2017 |
79,054 |
|
At 31 December 2017 |
79,054 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2017 |
79,054 |
|
At 31 December 2016 |
79,054 |
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Other debtors |
8,500 |
|
9,714 |
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Corporation tax |
47 |
|
25 |
|
Other creditors |
6,777 |
|
17,390 |
|
|
|
|
|
|
6,824 |
|
17,415 |
|
|
|
|
|
|
|
|
|
6 |
Provision |
2017 |
|
2016 |
£ |
£ |
|
During the year the company received a legacy from the estate |
|
of a former member, Derek Clark, and this money will be spent on |
|
special projects in the current year and in the future. |
|
|
As a result the amount has not been included in the profit and loss |
|
account, and will be shown as a provision in these and future accounts |
|
and until it has all been spent. |
|
|
Legacy received |
291,123 |
|
- |
|
Deduct: |
|
Cost of electrical installation at Taylors Lake. |
(26,612) |
|
At 31 December 2017 |
264,511 |
|
- |
|
|
|
|
|
|
|
|
|
|
7 |
Controlling party |
|
|
The company is controlled by the senior members of the company. (Limited to 450 members) |
|
8 |
Other information |
|
|
Abbey Cross Angling Society Limited is a private company limited by gaurantee and incorporated in England. Its registered office is: |
|
Rosedale Old Cestrian Sports Club |
|
Andrews Lane |
|
Cheshunt |
|
Hertfordshire |
|
EN7 6TB |