KIPPAX WELFARE SPORTS & SOCIAL CLUB
ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2023
SMITH TURNER CHARTERED ACCOUNTANTS UNIT 7 COURTYARD 31 PONTEFRACT ROAD NORMANTON WF6 1JU
KIPPAX WELFARE SPORTS & SOCIAL CLUB
TRADING AND REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Sales of Refreshments | 73,515 | 51,367 | |||
| Opening Stock | 2,436 | 2,284 | |||
| Purchase of Refreshments | 42,079 | 23,651 | |||
| Closing Stock | (2,558) | (2,436) | |||
| 41,957 | 23,499 | ||||
| GROSS PROFIT | 31,558 | 27,868 | |||
| Add ADDITIONAL SOURCES OF INCOME | |||||
| Room hire | 1,398 | - | |||
| Sundry receipts | 3,496 | - | |||
| Grants, Subs & Donations | 5,970 | 13,978 | |||
| 10,864 | 13,978 | ||||
| 42,422 | 41,846 | ||||
| EXPENSES | |||||
| Salaries & Wages |
13,079 | 14,450 | |||
| Telephone |
548 | 1,496 | |||
| Printing, Postage & Stationery | 657 | 352 | |||
| Cleaning Materials & Laundry | 3,353 | 1,649 | |||
| Rates | 935 | 1,029 | |||
| Licence & Insurance | 5,142 | 2,321 | |||
| Repairs & renewals | 9,667 | 7,883 | |||
| Light & heat | 10,792 | 3,306 | |||
| Accountancy | 915 | 875 | |||
| Legal & Professional fees | 400 | 249 | |||
| Bank charges | 572 | 424 | |||
| Grant Contribution | (3,381) | (3,381) | |||
| Depreciation of Fixed Assets | 4,825 | 4,820 | |||
| 47,504 | 35,473 | ||||
| (DEFICIT) / SURPLUSfor the year after tax | (5,082) | 6,373 |
There are no recognised gains or losses in the two years other than those shown in the Trading and Revenue Accounts.
None of the Club’s activities were acquired or discontinued during either of the above years.
KIPPAX WELFARE SPORTS & SOCIAL CLUB
BALANCE SHEET AS AT 31[ST] MARCH 2023
CAPITAL ACCOUNT Opening Balance Club (Deficit) / Surplus for the year Funds from sporting sections INVESTED IN: FIXED ASSETS CURRENT ASSETS Stock of Refreshments Debtors Cash in Bank & in Hand CURRENT LIABILITIES Expenses Accrued Other Creditors NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Deferred Income NET ASSETS |
Note 2 3 4 5 6 |
2023 £ £ 94,652 (5,082) - 89,570 152,176 2,558 186 18,501 21,245 1,221 10,775 11,996 9,249 161,425 (71,855) 89,570 |
2022 £ 2,436 1,214 22,425 26,075 1,415 10,450 11,865 |
2022 | £ 88,279 6,373 - 94,652 155,678 14,210 169,888 (75,236) 94,652 |
|---|---|---|---|---|---|
The notes on pages 3 to 5 form an integral part of these financial statements
The financial statements were approved on xx xxx xxxx by
J. TORVILL Treasurer
KIPPAX WELFARE SPORTS & SOCIAL CLUB
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] MARCH 2023
1. ACCOUNTING POLICIES
The club has several sporting sections which are responsible for the promotion of their respective sorting activities. Each of the sporting sections is responsible for their own receipts and payments and each sporting section holds their own annual general meeting at which the financial accounts of that section are presented. The receipts and payments of the individual sporting sections are not reflected in these financial accounts of the management committee with the exception of the amounts paid to the management committee to assist in meeting costs and expenses.
Basis of Preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Income
The income shown represents the net amounts receivable by the Club exclusive of Value Added Tax.
Tangible Fixed Assets & Depreciation
Property is depreciated on a straight line basis at a rate of 2% per annum on cost. Other assets are depreciated on a reducing balance basis at 15% per annum.
Property
Property is valued at cost less depreciation to date and does not represent the current market value.
Stock of Refreshments
Stock on hand was valued by a professional stocktaker at cost price exclusive of Value Added Tax as at the close of business on the 31[st] March 2023.
KIPPAX WELFARE SPORTS & SOCIAL CLUB
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] MARCH 2023
2. FIXED ASSETS
| 2. | FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| 3. 4. 5. |
Cost At 1stApril 2022 Additions At 31stMarch 2023 Depreciation At 1stApril 2022 Charge for the year At 31stMarch 2023 Net Book Value At 31stMarch 2023 At 31stMarch 2022 STOCKS Stock on hand DEBTORS Trade Debtors Other Debtors CURRENT LIABILITIES |
Freehold Property £ 237,402 -- |
Furniture, Fixtures & Fittings £ 64,481 1,323 |
Total £ 301,883 1,323 303,206 146,205 4,825 151,030 152,176 155,678 2022 £ 2,436 - 1,214 1,214 5. 2022 £ |
||
| 237,402 89,020 3,533 92,553 144,849 |
65,804 |
|||||
89,020 3,533 |
57,185 1,292 |
|||||
92,553 |
58,477 |
|||||
7,327 |
||||||
148,382 |
7,296 |
|||||
2023 £ 2,558 8,028 186 8,214 2023 £ |
| 6. | Taxes & social security costs Members loans and donations Accruals and deferred income LONG TERM LIABILITIES Deferred Grant Income |
325 10,450 1,221 11,996 71,855 |
- 10,450 1,415 |
|---|---|---|---|
11,865 |
|||
75,236 |
ACCOUNTANTS’ REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF KIPPAX WELFARE SPORTS & SOCIAL CLUB
We have compiled the financial information of Kippax Welfare Sports & Social Club which comprises the profit and loss account, balance sheet and the related notes from the accounting records and information and explanations given to us.
The financial information has been compiled on the accounting basis set out in note 1 to the accounts. The financial information is not intended to achieve full compliance with the provision of UK generally accepted accounting principles.
You have approved the financial information for the year ended 31[st] March 2023 and have acknowledged your responsibility for it, for the appropriateness of the accounting basis and for providing all information and explanations necessary for its compilation.
We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore express any opinion on the financial information.
SMITH TURNER CHARTERED ACCOUNTANTS
Reporting Accountants Unit 7, Courtyard 31, Normanton, WF6 1JU
x xxx xxx.