Registered number: NI057083
GLENGORMLEY AMATEUR BOXING CLUB DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020
Sherwood Accountancy Practice
70 Sherwood Avenue Newtownabbey Co Antrim BT36 5GF
Glengormley Amateur Boxing Club Directors' Report and Unaudited Financial Statements For The Year Ended 30 November 2020
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5—6 |
| Notes to the Financial Statements | 7—8 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 9 |
Glengormley Amateur Boxing Club Company Information For The Year Ended 30 November 2020
| Directors | Mr Malachy Scott |
|---|---|
| Mr Patrick McCrory | |
| Mr Mark Kelly | |
| Company Number | NI057083 |
| Registered Office | 304-1 Antrim Road |
| Glengormley | |
| Co Antrim | |
| BT36 5EG | |
| Accountants | Sherwood Accountancy Practice |
| 70 Sherwood Avenue | |
| Newtownabbey | |
| Co Antrim | |
| BT36 5GF |
Page 1
Glengormley Amateur Boxing Club Company No. NI057083 Directors' Report For The Year Ended 30 November 2020
The directors present their report and the financial statements for the year ended 30 November 2020.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows: Mr Malachy Scott Mr Patrick McCrory Mr Mark Kelly
Small Company Rules
This report has 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.
On behalf of the board
Mr Malachy Scott
Director
25/08/2021
Page 2
Glengormley Amateur Boxing Club Accountant's Report For The Year Ended 30 November 2020
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 November 2020 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, 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 statements.
25/08/2021
Sherwood Accountancy Practice
70 Sherwood Avenue Newtownabbey Co Antrim BT36 5GF
Page 3
Glengormley Amateur Boxing Club Income and Expenditure Account For The Year Ended 30 November 2020
| Notes TURNOVER GROSS SURPLUS Administrative expenses OPERATING (DEFICIT)/SURPLUS Interest payable and similar charges (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR |
2020 £ 14,018 14,018 (15,557) (1,539) (32) (1,571) |
2019 £ 24,032 |
|---|---|---|
| 24,032 (23,710) |
||
| 322 (25) |
||
| 297 |
The notes on pages 7 to 8 form part of these financial statements.
Page 4
Glengormley Amateur Boxing Club Balance Sheet As at 30 November 2020
| Notes FIXED ASSETS Tangible Assets 3 CURRENT ASSETS Stocks 4 Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 7 NET LIABILITIES RESERVES Other reserves Income and Expenditure Account MEMBERS' FUNDS |
2020 £ £ 186,112 186,112 7,414 4,108 8,626 20,148 (8,459) 11,689 197,801 (207,672) (9,871) 1,205 (11,076) (9,871) |
2020 £ £ 186,112 186,112 7,414 4,108 8,626 20,148 (8,459) 11,689 197,801 (207,672) (9,871) 1,205 (11,076) (9,871) |
2019 £ £ 195,163 195,163 7,414 4,108 6,686 18,208 (7,960) 10,248 205,411 (213,711) (8,300) 1,205 (9,505) (8,300) |
2019 £ £ 195,163 195,163 7,414 4,108 6,686 18,208 (7,960) 10,248 205,411 (213,711) (8,300) 1,205 (9,505) (8,300) |
|---|---|---|---|---|
| 186,112 11,689 |
195,163 10,248 |
|||
| 20,148 (8,459) |
18,208 (7,960) |
|||
| 197,801 | 205,411 | |||
| (207,672) | (213,711) | |||
| (9,871) | (8,300) | |||
| 1,205 (11,076) |
1,205 (9,505) |
|||
| (9,871) | (8,300) |
Page 5
Glengormley Amateur Boxing Club Balance Sheet (continued) As at 30 November 2020
For the year ending 30 November 2020 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 in accordance with section 476 of the 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 accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Malachy Scott
Director
25/08/2021
The notes on pages 7 to 8 form part of these financial statements.
Page 6
Glengormley Amateur Boxing Club Notes to the Financial Statements For The Year Ended 30 November 2020
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight line Fixtures & Fittings 10% straight line
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2019: NIL)
3. Tangible Assets
| Cost As at 1 December 2019 As at 30 November 2020 Depreciation As at 1 December 2019 Provided during the period As at 30 November 2020 Net Book Value As at 30 November 2020 As at 1 December 2019 |
Land & Property Freehold £ 262,063 |
Fixtures & Fittings £ 47,419 |
Total £ 309,482 |
|---|---|---|---|
| 262,063 | 47,419 | 309,482 | |
| 73,766 5,242 |
40,553 3,809 |
114,319 9,051 |
|
| 79,008 | 44,362 | 123,370 | |
| 183,055 | 3,057 | 186,112 | |
| 188,297 | 6,866 | 195,163 |
Page 7
Glengormley Amateur Boxing Club Notes to the Financial Statements (continued) For The Year Ended 30 November 2020
- Stocks
| Stock - finished goods 5. Debtors Due within one year Other debtors 6. Creditors: Amounts Falling Due Within One Year Trade creditors Bank loans and overdrafts Accruals and deferred income 7. Creditors: Amounts Falling Due After More Than One Year Capital grants |
2020 £ 7,414 7,414 2020 £ 4,108 4,108 2020 £ (1) 48 8,412 8,459 2020 £ 207,672 207,672 |
2019 £ 7,414 |
|---|---|---|
| 7,414 | ||
| 2019 £ 4,108 |
||
| 4,108 | ||
| 2019 £ - 48 7,912 |
||
| 7,960 | ||
| 2019 £ 213,711 |
||
| 213,711 |
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9. General Information
Glengormley Amateur Boxing Club is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI057083. The registered office is 304-1 Antrim Road, Glengormley, Co Antrim, BT36 5EG.
Page 8
Glengormley Amateur Boxing Club Detailed Income and Expenditure Account For The Year Ended 30 November 2020
| TURNOVER Members subscriptions Club show income Donations Other grants received Hire of boxing ring GROSS SURPLUS Administrative Expenses Light and heat Coach fees and training Affiliations fees Repairs, renewals and maintenance Insurance Community based schemes Accountancy fees Hotels and travel Consultancy fees Bank charges Depreciation of fixtures and fittings Depreciation of freehold land and property Amortisation Sundry expenses OPERATING (DEFICIT)/SURPLUS Interest payable and similar expenses Credit card charges (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR |
2020 £ £ 3,362 - 200 10,456 - 14,018 14,018 1,143 2,468 - 1,500 932 600 500 2,008 1,800 79 3,810 5,241 (6,039) 1,515 (15,557) (1,539) 32 (32) (1,571) |
2020 £ £ 3,362 - 200 10,456 - 14,018 14,018 1,143 2,468 - 1,500 932 600 500 2,008 1,800 79 3,810 5,241 (6,039) 1,515 (15,557) (1,539) 32 (32) (1,571) |
2019 £ £ 1,910 1,066 500 20,206 350 24,032 24,032 1,163 50 572 7,320 820 2,017 500 5,207 1,825 69 3,810 5,241 (6,039) 1,155 (23,710) 322 25 (25) 297 |
2019 £ £ 1,910 1,066 500 20,206 350 24,032 24,032 1,163 50 572 7,320 820 2,017 500 5,207 1,825 69 3,810 5,241 (6,039) 1,155 (23,710) 322 25 (25) 297 |
|---|---|---|---|---|
| 14,018 14,018 (15,557) |
24,032 24,032 (23,710) |
|||
| 32 | 25 | |||
| (1,539) (32) |
322 (25) |
|||
| (1,571) | 297 |
Page 9