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Registration number: 00176407

Abington Bowling Club Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

Robins & Co
Chartered Certified Accountants
35/37 St Leonards Road
Far Cotton
Northampton
Northamptonshire
NN4 8DL

 

Abington Bowling Club Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 6

 

Abington Bowling Club Limited

Company Information

Directors

Mr Richard Voller

Mr Royston Frederick Jones

Mr David Ronald Fage

Mr Alan Peter Johnson

Company secretary

Mr Graham Murphy

Registered office

12 Park Avenue South
Northampton
Northamptonshire
NN3 3AA

Accountants

Robins & Co
Chartered Certified Accountants
35/37 St Leonards Road
Far Cotton
Northampton
Northamptonshire
NN4 8DL

 

Abington Bowling Club Limited

(Registration number: 00176407)
Balance Sheet as at 30 September 2017

Note

2017

2016

   

£

£

£

£

Fixed assets

   

 

Investment property

3

 

112,000

 

112,000

Current assets

   

 

Debtors

4

135

 

142

 

Cash at bank and in hand

 

1,716

 

1,592

 

 

1,851

 

1,734

 

Creditors: Amounts falling due within one year

5

(1,550)

 

(1,514)

 

Net current assets

   

301

 

220

Net assets

   

112,301

 

112,220

Capital and reserves

   

 

Called up share capital

5,600

 

5,600

 

Revaluation reserve

106,553

 

106,553

 

Profit and loss account

148

 

67

 

Total equity

   

112,301

 

112,220

 

Abington Bowling Club Limited

(Registration number: 00176407)
Balance Sheet as at 30 September 2017

For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 12 April 2018 and signed on its behalf by:
 

.........................................

Mr David Ronald Fage
Director

 

Abington Bowling Club Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
12 Park Avenue South
Northampton
Northamptonshire
NN3 3AA

The principal place of business is:
7 Lynmouth Avenue
Abington Vale
Northampton
Northamptonshire
NN3 3LT

These financial statements were authorised for issue by the Board on 12 April 2018.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Abington Bowling Club Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

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.

3

Investment properties

2017
£

At 1 October

112,000


The property was last independently valued in 2002 and the directors believe this to still be a fair valuation.

 

Abington Bowling Club Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

4

Debtors

2017
£

2016
£

Prepayments

135

142

135

142

5

Creditors

Creditors: amounts falling due within one year

2017
£

2016
£

Due within one year

Accruals and deferred income

1,432

1,396

Other creditors

118

118

1,550

1,514