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.
- 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**
4. **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