Chesham Bois Lawn Tennis and Squash Club. Report and Accounts. 31 July 2013

Transcription

1 Report and Accounts 31 July 2013

2 Committee's Report The committee presents the report and accounts. Principal activities The club's principal activity during the year continued to be the running of a Lawn Tennis and Squash Club This report was approved by the committee on 11th November S Ellis Jones Chair 1

3 Accountants' Report Accountants' report to the committee of Chesham Bois Lawn Tennis and Squash Club You consider that the Club is exempt from an audit for the year ended 31st July 2013 You have acknowledged, on the balance sheet, your responsibilities for ensuring that the club keeps accounting records which comply with Companies Act 2006, and for preparing accounts which give a true and fair view of the state of affairs of the club and of its surplus or deficit for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the club and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. The accounts have been prepared to comply with HMRC requirements for the filing of the corporation tax return (CT600). Reference is made to the Companies Act 2006 as this requires UK Generally Accepted Accounting Practice (UK GAAP). The club is not required to report its annual accounts to any other government bodies. Land & Scales Ltd Chartered Management Accountants Cadomin Wards Cross Hurst Berks 11th November

4 Profit and Loss Account Income Cost of sales Gross surplus Administrative expenses Operating surplus Interest receivable Surplus on club activities before taxation Tax on surplus on club activities Surplus for the financial year

5 Balance Sheet as at 31 July 2013 Fixed assets Freehold Tangible assets Current assets Bar Stocks Debtors Alliance and Leics Current Alliance and Leics Deposit Santander Alliance & Leics Second Deposit Cash in Hand and at Bank Cash in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets Capital and reserves Reserves Member's funds The chairperson is satisfied that the club is entitled to exemption under Section 477 of the Companies Act 2006 and therefore there is no requirement for an audit pursuant to section 476 of the Act. The committee acknowledges 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 provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. Peter Jordan Treasurer Approved by the committee on 11th November

6 Notes to the Accounts 1 Accounting policies The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) Turnover Turnover represents the value, net of value added tax and discounts, of memberships and bar income provided to members. Land and Buildings Fixtures and Fittings All other assets Depreciation not considered necessary due to Regular Maintenance Annual Investment Allowance Annual Impairment Review - where required Stocks Stock is valued at the lower of cost and net realisable value. 2 Taxation UK corporation tax Freehold Cost At 1 August At 31 July Depreciation At 1 August At 31 July Net book value At 31 July At 31 July Tangible fixed assets Fixtures and Fitting Tennis Court Squash Courts Total Cost At 1 August At 31 July Depreciation At 1 August At 31 July Net book value 5

7 Notes to the Accounts At 31 July At 31 July Debtors Debtors VAT Debtor Prepayments and Accruals Creditors: amounts falling due within one year Trade creditors Other Creditors - Light and Heat PAYE and VAT creditor Accounts Accrual Fob Prepayment and Accruals Creditors: amounts falling due after one year Carbon Loan Profit and loss account At 1 August Profit for the year At 31 July

8 Profit and Loss Account Tennis for the information of the members only Tennis Subs Income Tennis Sale of Wimbledon Tickets Tennis Open Junior Income Junior Friday night Use of Courts Expenditure Tennis Affliation Fee Tennis Court Annual Maintenance Tennis Trophies/fees Tennis Sundries Tennis Balls Tennis PPS Tennis - Cost of Wimbledon Tickets Tennis - Performance fee Tennis - Closed Fee 600 Tennis - Junior night Tennis - Junior Tournament fee Tennis - Other Coaching Activities Tennis - Open Junior Surplus for the financial year Less House Costs 52.5% Add Bar Profits 52.5% 463 Surplus 3,817 NOTES 1 Court Replacement accrual August/Sept

9 Profit and Loss Account Squash for the information of the members only Squash Subscriptions Squash Court fees Squash Junior Coaching Income Squash Bucks SRA Expenditure Squash Junior Coaching Expense Squash Court Maintenance Squash Trophies/fees Squash Sundry Expense Squash - Exhibition Events Squash Eng and Bucks Fees Surplus for the financial year Less House costs 47.5% (41,659) Add Bar profits 47.5% 419 Surplus 16,637 NOTES 1 Includes over 5800 for replastering courts 1 and 4 in

10 Profit and Loss Accou BAR for the information of the members only Bar Sales Expenditure Bar Wages Bar Purchases Surplus for the financial year NOTES 1 As per the payroll 2013 (excludes J Sperling) 9

11 Profit and Loss Account House for the information of the members only Income General Income Bank Interest Social Events income Centenary Products sold 0 Shop rental Expenditure General Expenses Credit Card Processing Management Wages Council tax and Water Rates Licences Light and Power Ground Maintenance Shed Replacement 2000 Summer House General House Repairs and Maintenance Roof Repairs 2012 and Electrics Refurbishment Cleaning Office Expenses Insurance Accountancy and Book keeping Social events Water Cooler IT Legal Fees Deficit for the financial year NOTES 1 Bank interest is paid net of tax 2 Includes a 2,000 rolling accrual for five years ( 10K todate) 3 includes work done on the bar area and electrical work. 4 Legal Advice on Club status 10