2022-07-31-accounts

Company registration number: 06810737

Charity Registration Number: 1175251

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Unaudited financial statements

31 July 2022

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Contents

	Page
Directors and other information	1
Directors’ report	2
Statement of comprehensive income	3
Statement of financial position	4 - 5
Statement of changes in equity	6
Notes to the financial statements	7 - 10

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Directors and other information

Directors L R Alonso (appointed 14 March 2023) C R de Luca M J Bromley P A Ashberry J A Robinson E D Keable (resigned 14 March 2023) C Redfern (resigned 14 March 2023) G I Crawford (resigned 14 March 2023) J Elliott (resigned 14 March 2023)

Secretary L Westerman (appointed 14 March 2023)

Company number 06810737 Registered office Oval Park & business address Wigston Road Oadby LE2 5JE

Page 1

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Directors’ report Year ended 31 July 2022

The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2022.

Directors

The directors who served the company during the year were as follows:

L R Alonso

C R de Luca

M J Bromley

P A Ashberry

J A Robinson

E D Keable

C Redfern

G I Crawford

J Elliott

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

This report was approved by the board of directors on 22 March 2023 and signed on behalf of the board by:

L R Alonso

Director

Page 2

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Statement of comprehensive income Year ended 31 July 2022

Note Turnover Cost of sales Gross profit Administrative expenses Sport England Grant Operating (loss)/profit (Loss)/Profit before taxation Tax on profit Profit for the financial year and total comprehensive income	2022 £ 30,875 (11,056) _ 19,819 (72,584) - _ (52,765) (52,765) - _ (52,765)	2021 £ restated 33,844 (10,440) _ 23,404 (28,696) 50,000 _ 44,708 44,708 - _ 44,708

All the activities of the company are from continuing operations.

The notes on pages 7 to 10 form part of these financial statements.

Page 3

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Statement of financial position 31 July 2022 2022 Note £ £ Fixed assets Tangible assets 5 - Investments 6 10,126 _ 10,126 Current assets Stocks - Debtors 7 9,336 Cash at bank and in hand 5,921 _ 15,257 Creditors: amounts falling due within one year 8 (3,253) _ Net current assets 12,004 _ Total assets less current liabilities 22,130 Creditors: amounts falling after more than one year 9(4,996) _ Net assets 17,134 _ Capital and reserves Profit and loss account b/f 69,899 (Loss)/Profit for the year (52,765) _ Charitable funds 17,134 _	2021 £ £ restated restated - 10,126 _ 10,126 - 33,259 41,352 _ 74,611 (6,507) _ 68,104 _ 78,230 (8,331) _ 69,899 _ 25,191 44,708 _ 69,899 _	2021 £ £ restated restated - 10,126 _ 10,126 - 33,259 41,352 _ 74,611 (6,507) _ 68,104 _ 78,230 (8,331) _ 69,899 _ 25,191 44,708 _ 69,899 _
		_ 78,230 69,899
		_ 25,191 44,708
		_ 69,899 _

The notes on pages 7 to 10 form part of these financial statements.

Page 4

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Statement of financial position 31 July 2022

For the year ending 31 July 2022 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 financial statements for the year in question in accordance with section 476 of Companies Act 2006.

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Pandemic Losses

Due to the unprecedented nature of the worldwide pandemic during 2020 and 2021, the charity, whose activities are to promote rugby, diverted funds to support the trading activities of its subsidiary company, being the operation of a bar in the rugby clubhouse.

The trading company was forced to close or operate with social distancing for much of the period from March 2020 to July 2021 which resulted in a trading loss being made in periods prior to the current period. In the period to July 22 the company made a profit.

The charity is in discussions with the trading company to ensure that the profits of the trading activity continue and can be used to repay funds lent by the charity. The charity is confident that the trading activities will be profitable in future and will then be applied to support the charities aims of promoting rugby.

These financial statements were approved by the board of directors and authorised for issue on 22 March 2023, and are signed on behalf of the board by:

L R Alonso

Director

Company registration number: 06810737

Charity Registration number: 1175251

The notes on pages 7 to 10 form part of these financial statements.

Page 5

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Statement of changes in equity Year ended 31 July 2022

Charitable funds brought forward Total comprehensive (loss)/income for the year Charitable funds carried forward	2022 £ _ 69,899 (52,765) _ 17,134 _	2021 £ restated
		_ 25,191 44,708
		_ 69,899 _

The notes on pages 7 to 10 form part of these financial statements.

Page 6

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Notes to the financial statements Year ended 31 July 2022

1. General information

The company is a charitable organisation. It is a private company limited by shares, registered in England and Wales. The address of the registered office is Oadby Wyggestonian Rugby Football Club Limited, 14 Woodbury Rise, Great Glen, LE8 9ER.

2.

Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss, if applicable.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Prior Period Restatement

Prior periods include assets, fixed assets, stock and an investment that are unidentifiable from before the start of the previous accounting period. These balances have not moved in the past 3 years. A prior period adjustment has therefore been included in these accounts to restate the assets shown in the prior period.

The adjustments include the following:

Fixed assets written off	2,009
Stock written off	5,500
Debtor written off	7,251
Investment write-down	14,875
Total reduction in P&L reserves brought forward	29,635

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

As a charitable organisation, taxation is not due in respect of the results of the club.

Tangible assets

The club does not have any identifiable tangible fixed assets and as such, the balance previously carried on the balance sheet has been written off as a prior period adjustment.

Page 7

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Notes to the financial statements (continued) Year ended 31 July 2022

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. The value of the investment was reviewed and written down as a prior period adjustment.

Stocks

The club does not have any stock in hand. Stocks included in prior periods have been written off as a prior period adjustment.

Going Concern

The Directors are in the process of reviewing the expenditure incurred by the club to ensure that it can continue to meet its financial obligations as they fall due.

Charitable Status

The accounts follow the objects of the Charity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1).

5. Tangible assets – fixtures & fittings

Cost Depreciation Carrying amount At 31 July 2022 At 31 July 2021	2022 £ - - _ - _ -	2021 restated £ - - _ - _ -

Page 8

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Notes to the financial statements (continued) Year ended 31 July 2022

6. Investments

£ £ Carrying amount At 31 July 2022 10,125 1 _ _ At 31 July 2021_restated_ 10,125 1 Loans to group undertakings and participating interests Other investments other than loans	£ 10,126 _ 10,126 Total

Page 9

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Notes to the financial statements (continued) Year ended 31 July 2022

7. Debtors

7. Debtors
Other debtors Social security and other taxes Debtors due within one year Debtors due after one year – due from subsidiary Total debtors due 8. Creditors: amounts falling due within one year Deferred Income 9. Creditors: amounts falling due after more than one year RFU Loan Account	_	2022 £ 4,986 - __ 4,986 4,350 _ 9,336 2022 £ (3,253) ____ 2022 £ (4,996)	2021 £ restated 8,129 3,280 __ 11,409 21,850 _ 33,259 _ 2021 £ (6,507) ____ 2021 £ (8,331)
	_		_

Page 10

OADBY WYGGESTONIAN RUGBY FOOTBALL CLUB LIMITED

Detailed income statement (continued) This page does not form part of the statutory accounts Year ended 31 July 2022

Turnover Subscriptions Non-Playing Subscriptions Advertising Boards Other Income Gift Aid Rugby Football Development Wages and salaries Gross profit Administrative expenses Coaches & first aid courses Clubhouse – cleaning and maintenance Post-match food costs Kit Summer Ball costs Website Sky/phone Physiotherapy Referee's Society Bank charges Rugby Union League Insurance Other sundry items Sport England Grant (Loss)/Profit before taxation	2022 £ 20,787 458 4,707 3,625 580 718 _ 30,875 (11,056) _ 19,819 (12,773) (20,501) (18,000) (8,209) (2,690) (917) (4,833) - (2,875) (105) (83) (1,108) (490) _ (72,584) - _ (52,765)	2021 £ restated 19,435 1,450 4,707 2,531 4,285 1,436 _ 33,844 (10,440) _ 23,404 (4,221) (20,611) - (1,644) - (1,157) (417) - (606) - - (40) _ (28,696) 50,000 _ 44,708