Aldershot Town Football Club Ltd
|
Registered number: |
08362929
|
Statement of Financial Position |
as at 30 June 2018
|
|
Notes |
|
|
2018 |
|
|
2017 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
546,584 |
|
|
600,745 |
Tangible assets |
4 |
|
|
12,969 |
|
|
13,060 |
|
|
|
|
559,553 |
|
|
613,805 |
|
Current assets |
Stocks |
|
|
1,206 |
|
|
5,512 |
Debtors |
5 |
|
76,308 |
|
|
51,243 |
Cash at bank and in hand |
|
|
4,069 |
|
|
7,744 |
|
|
|
81,583 |
|
|
64,499 |
|
Creditors: amounts falling due within one year |
6 |
|
(764,820) |
|
|
(682,350) |
|
Net current liabilities |
|
|
|
(683,237) |
|
|
(617,851) |
|
Net liabilities |
|
|
|
(123,684) |
|
|
(4,046) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
644,300 |
|
|
407,600 |
Profit and loss account |
|
|
|
(767,984) |
|
|
(411,646) |
|
Shareholders' funds |
|
|
|
(123,684) |
|
|
(4,046) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
Shahid Azeem |
Director |
Approved by the board on 18 February 2019
|
|
Aldershot Town Football Club Ltd
|
Notes to the Accounts |
for the year ended 30 June 2018
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
|
|
|
Going concern |
|
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the directors of the company are funding the company in the form of a directors' loan. The directors are planning to continue this financial support for the company for the foreseeable future. |
|
|
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 match day, sponsorship, commercial, the hire of stadium facilities, the sale of goods, sale of players and from the provision of youth football services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
|
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
|
Plant and machinery |
25% reducing balance |
|
|
Inventories |
|
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
|
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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|
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
|
|
|
Pensions |
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The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
|
|
Player fees |
|
The costs associated with acquiring players’ registrations or extending their contracts, including agents’ fees, are capitalised and amortised in equal instalments, over the period of the respective players’ contracts. Profits or losses on the sale of players represent the transfer fee receivable, net of any transactions costs, less the unamortised cost of the applicable player’s registration. |
|
2 |
Employees |
2018 |
|
2017 |
Number |
Number |
|
|
Average number of persons employed by the company |
63 |
|
40 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
|
|
|
|
Goodwill |
|
Player fees |
|
Total |
|
|
Cost |
£ |
£ |
£ |
|
At 1 July 2017 |
683,228 |
|
30,000 |
|
713,228 |
|
Disposals |
- |
|
(30,000) |
|
(30,000) |
|
At 30 June 2018 |
683,228 |
|
- |
|
683,228 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 July 2017 |
102,483 |
|
10,000 |
|
112,483 |
|
Provided during the year |
34,161 |
|
- |
|
34,161 |
|
On disposals |
- |
|
(10,000) |
|
(10,000) |
|
At 30 June 2018 |
136,644 |
|
- |
|
136,644 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2018 |
546,584 |
|
- |
|
546,584 |
|
At 30 June 2017 |
580,745 |
|
20,000 |
|
600,745 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. |
|
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 July 2017 |
29,469 |
|
Additions |
4,232 |
|
At 30 June 2018 |
33,701 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2017 |
16,409 |
|
Charge for the year |
4,323 |
|
At 30 June 2018 |
20,732 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2018 |
12,969 |
|
At 30 June 2017 |
13,060 |
|
|
|
|
|
|
|
|
|
|
|
|
5 |
Debtors |
2018 |
|
2017 |
£ |
£ |
|
|
Trade debtors |
35,834 |
|
9,279 |
|
Prepayments |
33,086 |
|
29,034 |
|
Accrued income |
- |
|
12,560 |
|
Other debtors |
7,388 |
|
370 |
|
|
|
|
|
|
76,308 |
|
51,243 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
£ |
£ |
|
|
Non-equity preference shares |
100,000 |
|
100,000 |
|
Bank loans and overdrafts |
91,372 |
|
93,623 |
|
Trade creditors |
91,369 |
|
62,913 |
|
Accruals |
232,264 |
|
188,986 |
|
Other taxes and social security costs |
66,915 |
|
36,095 |
|
Other creditors |
182,900 |
|
200,733 |
|
|
|
|
|
|
764,820 |
|
682,350 |
|
|
|
|
|
|
|
|
|
|
7 |
Related party transactions |
2018 |
|
2017 |
£ |
£ |
|
Loans from directors |
|
Included in other creditors are loans made to the company from directors |
|
(108,000) |
|
(125,000) |
|
|
Non-equity preference shares |
|
Included in creditors are non-equity preference shares owned by a director of the company |
|
(100,000) |
|
(100,000) |
|
8 |
Other information |
|
|
Aldershot Town Football Club Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
The EBB Stadium |
|
High Street |
|
Aldershot |
|
Hampshire |
|
GU11 1TW |