Registered nurnber.. N1057083 GLENGORMLEY AMATEUR BOXING CLUB DIRECTORS. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Sherwood Accountancy Practice 70 Sherwood Avenue Newtownabbey Co Antrim 8T36 5GF
Glengormley Amateur Boxlng Club Contents PJge Company Information Dlrectors. Report Accountant's Report Income and Expenditure Account Balance Sheet Notes to the Financial Statements The followlng pages do not form part of the statutory accounts: Detailed Income and Expenditure Account
Glengormley Amateur Boxing Club Company Information For The Year Ended 30 November 2023 Dlrectors Mr Malachy Scott Mr Patrick Mccrory Mr Mark Kelly Company Number N1057083 Reglstered Offlce 304-1 Antrim Road Glengormley Co Antrim 8T36 SEG A¢¢ountJnt$ Sherwood Accountancy Practlce 70 Sherwood Avenue Newtownabbey Co Antrlm BT36 SGF
Glengormley Amateur Boxlng Club Company No. N1057083 Dlrectors, Report For The Year Ended 30 November 2023 The directors present their report and the financial statements for the year ended 30 November 2023. Dlrectors The directors who held ofllce during the year were as follows: Mr Malachy Scott Mr Patrick Mccrory Mr Mark Kelly Statement Of Dlrectors, Responslbllltles The directors are responsible for preparing the Dlrectors, Report and the financial statements In accordance wlth applicable law and regulatlons. Company law qUIreS the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financlal statements In accordance with United Klngdom Generally Accepted Accounting Practice (United Klngdom Accounting Standards and appllcable lawl. Under company law the director5 must not approve the financial statements unless they are satlsfied that they glve a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that perlod, In preparlng the financial Statements the directors are reqUId to: • select 5Ultable accountlng pollcles and then apply them con515tentlvi make Judgments and accountlng estlmates that are reasonable and prudent; prepare the financlal statements on the goin9 concern basis unless It Is Inappropriate to presume that the company will continue in buslness. The directors are responsible for keeping adequate accountlng records that are sufficient to show and explain the company's transaction5 and dlsclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the flnancial statements comply with the Companles Act 2006. They are also responsible for safeguarding the a55ets of the company and hence for taking reasonable steps for the preventlon and detecrion ol fraud and other irregularities. The clirectors are responsible for the maintenance and integrity of the corporate and financial Informatlon Included on the company's website. Legislation in the Unlted Kingdom governing the preparation and dissemination of flnancial statements may differ from legislation In other Jur15dictions. Small Company Rules Th15 report ha5 been prepared in accordance with the speclal provisions relating to companies subject to the small companles regime within Part 15 of the Companies Act 2006. On behall of the board Mr Malachy Scott Director Page 2
Glengormley Amateur Boxing Club Accountant's Report For The Year Ended 30 November 2023 In accordance wlth the engagement letter dated , and in order to assist you to fulfil your duties under the Companie5 Act 2006, we have compSled the flnancial statements of the company from the accounting records and Information and explanatlons you have glven to us. Th15 report is made to the d1CtorS In accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director5 the financial st6terDent5 that we have been engaged to complle, 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 permltted by law, we do not accept or assume responslbility to anyone other than the Company and the Company's directors for our work or for thls report. You have acknowledged on the balance sheet as at year ended 30 November 2023 your duty to ensure that the company has kept proper accounting record5 and to prepare financial statements that give a true and falr view under the Companies Act 2006, You con51der that the company 15 exempt from the Statutory requirement for an audlt for the year. We have not been Instructed to carry out an audit of the financial statements. For th15 reason, we have not verlfled the accuracy or completeness of the accounting records or information and explanatlons you have glven to us and we do not, therefore, express any opinion on the financial statements. Signed 3010712024 Sherwood Accountancy Practlce 70 Sherwood Avenue Newtownabbey Co Antrlm 8T36 5GF SHERWOODACCOUNTANCY PRACTICE CHARTERED CERTIFIEDACCOUNTANT & REGISTEREDAUOITOR 70 SHERWOOD AVENUE GLENGORMLEY BT36 5GF TELIFAX 02890 833361 Page 3
Glengormley Amateur Boxlng Club Income and Expenditure Account For The Year Ended 30 November 2023 2023 2022 Notes TURNOVER 21,741 17,962 GROSS SURPLUS 21,741 17,962 Admintstrative expenses (11,230) (13,976) OPERATING SURPLUS Interest payable and similar charges 10,511 {691 3,986 {74> SURPLUS FOR THE FINANCIAL YeAR 10,442 3,912 The notes on pages 7 to 8 form part of these financial statements. Page 4
Glengormley Amateur Boxlng Club Balance Sheet As At 30 November 2023 2023 2022 Notes FIXED ASSETS Tanglble Assets 171.102 176.962 171,102 176,962 CURRENT A$Ss Stocks 8,228 4.108 15,061 8,228 4,108 7.199 Debtors Cash at bank and In hand 27,397 19,535 Credltors: Amount• Falllng Due Wlthln One Year (7.9261 {7.913) NET CURRENT ASSETS (LIABILITIES) 19,471 11,622 TOTAL ASSEfs LESS CURRENT UABILITIES 190,573 188,584 Credltors: Amount• Falllng Du• After More Than One Year {186.173) 1194,626) NET ASSETS/ILIA8ILITIES) 4,400 (6,042) RESERVES other reserves Income and Expendlture Account 1,205 3,195 1,205 (7,247) MEMBERS, FUNDS 4,400 16,042) Page 5
Glengormley Amateur Boxlng Club Balance Sheet (continued) As At 30 November 2023 For the year ending 30 November 2023 the company wa5 entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit In accordance with section 476 of the Companles Act 2006. The directors acknowledge thelr responsibilities for complylng with the requirements of the Act with respect to accounting ords and the preparatn of accounts. These accounts have been prepared In accordance with the provisions applicable to companles subject to the small companies. regime. On behalf of the boa Mr Malachy Scott Director 3010712024 The notes on pages 7 to 8 form part of these financial statements. Page 6
Glengormley Amateur Boxing Club Notes to the Financial Statements For The Year Ended 30 November 2023 l. General Informjtlon Glengormley Amateur Boxing Club is a private company, limited by guarantee, Incorporated In Northern Ireland, reglstered number N1057083. The registered office 1$ 304-1 Antrim Road. Glengormley. Co Antrim, BT36 SEG. 2. Accountlng Pollele$ 2.1. Basls of Preparatlon of Flnanclal Statemènts The financlal statements have been prepared under the historical cost convention and in accordance with Financlal Reporting Standard 102 5ectlon IA Small Entitles "The Flnar)clal Reporting Standard applicable In the UK and Republic of Ireland" and the Companies Act 2006. 2.2. Turnover Turnover Is measured at the fair value of the conslderatlon recelved 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 estlmated customer returns, rebates and other similar allowances. Sale ol 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, Thls is usually at the polnt that the customer has slgned for the dellvery of the goods. Renderlng of servlceg Turnover from the rendering of service5 is recognised by reference to the stage of completlon of the contract. The Stage of completion of a contract Is measured by cornparlng the costs Incurred for work performed to date to the total estlmated contract costs, Turnover Is only recognised to the extent of cOVerable expenses when the outcome of a contract cannot be estlmated rellablv. 2.3. Tanglble Flxed Assets and Depreclatlon Tangible fixed assets are measured at cost less accumulated depreclatlon and any accumulated Impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less thelr estlmated resldual value, over their expected useful lives on the following bases., Freehold Flxtures & Fittlngs 2% Stralght Ilne 10% Stralght Ilne 2.4. Stockg and Work In Progre Stocks and work In pro9ress 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 varlable overheads. Work-in-progress Is reflected In the accounts on a contract by contract basis by recording turnover and related costs as contract actlvlty progresses, 2.5. Forelgn Currencles Monetary assets and Ilabllltles In forelgn currencies are translated into sterling at the rates of exchange rulirig at the balance sheet date. Transactlons in foreign currencies are translated into sterling at the rate ruling on the date OF the transaction, Exchange dlfference5 are taken into account in af riving at the operating 5urplu5. 3. Average Number of Employees Average number of employees, includlng dlreclors, durlng the year was,, NIL12022; NIL) Page 7
Glengormley Amateur Boxlng Club Notes to the Financlal Statements (contlnued) For The Year Ended 30 November 2023 4. Tanglble Assets Land & Property Freehold Flxtures & Flttlngs Total Cost As at l December 2022 264,063 51,003 315,066 As at 30 November 2023 264.063 51,003 315,066 Depreclatlon As at l December 2022 Provided during the period 89,570 5,281 48.534 579 138.104 5,860 As at 30 November 2023 94,851 49,113 143,964 Net Book Value As at 30 November 2023 169,212 1.890 171,102 As at l December 2022 174,493 2,469 176.962 5. Stocks 2023 2022 Stock - sports equipment 8,228 8,228 6. Debtors 2023 2022 Due wlthln one year Other debtors 4,108 4,108 7. Credltors: Amounts Falllng Due Wlthln One Year 2023 2022 Trade credltors Bank loans and overdrafts Accrua15 and deferred Income 13 7,912 7,912 7,926 7,913 8. Credltors: Amounts Falllng Due After More Than One Year 2023 2022 Capital grants 186.173 194.626 9. Company Ilmlted by guarantee The company is Iimlted by guarantee and has no share capltal. Every member of the company undertakes to contribute to the a55ets of the company. In the event of a Winding up, such an mount as may be required not exceedlng £1. Page 8
Glengormley Amateur Boxing Club Detailed Income and Expenditure Account For The Year Ended 30 November 2023 2023 2022 TURNOVER Members subscriptions Club show income 3,525 1,305 1,220 200 6,500 600 Donations Other grants ceiVed Hire of boxing ring Department of forelgn affairs grant Grant for tlub development costs Senlor fitness grant 9,500 3,297 3,000 1,840 8,716 21,741 21,741 17,962 17,962 GROSS SURPLUS Admlnlstratlve Expenses Light and heat Water rates 1,232 1,239 432 2,000 1,207 1,853 623 500 1,213 2,160 1,346 600 Affiliations fees Pro am exps Insurance 1,137 693 1,340 500 4,493 1,890 2,940 83 482 1,444 5,281 (8,4531 200 Community based schemes Senlor Fltness class expenses Accountancy fees Hotels and travel Consultancy fees Club development expen5e5 Bank charges Club tracksuits and sportswear Depreciation of flxtures and flttlngs Depreclatlon of freehold land and property Amortisation Sundry expenses 61 890 579 5,281 (8,453) 413 {11,230) (13,976) OPERATING SURPLUS 10,511 3,986 Interest payable and slmllar charges Credit card charges Foreign exchange charges 25 44 25 49 1691 174} SURPLUS FOR THE FINANCIAL YEAR 10,442 3.912 Page 9