Aldershot Town Football Club Limited
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Registered number: |
08362929
|
Statement of Financial Position |
as at 30 June 2021
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|
Notes |
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|
2021 |
|
|
2020 |
£ |
£ |
Fixed assets |
Intangible assets |
4 |
|
|
444,101 |
|
|
478,262 |
Tangible assets |
5 |
|
|
7,606 |
|
|
10,141 |
|
|
|
|
451,707 |
|
|
488,403 |
|
Current assets |
Stocks |
|
|
6,419 |
|
|
3,338 |
Debtors |
6 |
|
83,756 |
|
|
59,661 |
Cash at bank and in hand |
|
|
50,938 |
|
|
127,034 |
|
|
|
141,113 |
|
|
190,033 |
|
Creditors: amounts falling due within one year |
7 |
|
(1,196,784) |
|
|
(1,175,704) |
|
Net current liabilities |
|
|
|
(1,055,671) |
|
|
(985,671) |
|
Total assets less current liabilities |
|
|
|
(603,964) |
|
|
(497,268) |
|
Creditors: amounts falling due after more than one year |
8 |
|
|
(40,000) |
|
|
(50,000) |
|
|
Net liabilities |
|
|
|
(643,964) |
|
|
(547,268) |
|
|
|
|
|
|
|
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Capital and reserves |
Called up share capital |
|
|
|
959,400 |
|
|
979,400 |
Capital redemption reserve |
|
|
|
20,000 |
|
|
- |
Profit and loss account |
|
|
|
(1,623,364) |
|
|
(1,526,668) |
|
Shareholders' funds |
|
|
|
(643,964) |
|
|
(547,268) |
|
|
|
|
|
|
|
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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.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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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.
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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.
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|
Shahid Azeem |
Director |
Approved by the board on 25 March 2022
|
|
Aldershot Town Football Club Limited
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Notes to the Accounts |
for the year ended 30 June 2021
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1 |
Accounting policies |
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Basis of preparation |
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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.
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|
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Going concern |
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The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The directors consider the company to be a going concern, notwithstanding that there are losses of £1,623,364. They have reviewed the potential future of the company and consider that it will continue to trade profitably for the foreseeable future.The company's business was adversely affected by the outbreak of Covid-19 in 2020. Whilst the long-term effect of the virus to the business is uncertain, the director of the company considers the going concern basis to be appropriate. |
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Turnover |
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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.
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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|
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Tangible fixed assets |
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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:
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Plant and machinery |
25% reducing balance |
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Inventories |
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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.
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Debtors |
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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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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.
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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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.
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2 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
|
Average number of persons employed by the company |
53 |
|
48 |
|
|
|
|
|
|
|
|
|
|
3 |
Government grants |
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The company has received government grants under the coronavirus job retention scheme. These grants are shown in the profit and loss for the period in which the related salary expenditure was incurred. The company also received a local authority and Football Association grants which are shown in the profit and loss in the period in which the funds were received. |
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|
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2021 |
|
2020 |
£ |
£ |
|
|
Grants receivable |
591,145 |
|
167,638 |
|
|
|
|
|
|
|
|
|
|
4 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 July 2020 |
683,228 |
|
At 30 June 2021 |
683,228 |
|
|
|
|
|
|
|
|
|
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Amortisation |
|
At 1 July 2020 |
204,966 |
|
Provided during the year |
34,161 |
|
At 30 June 2021 |
239,127 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2021 |
444,101 |
|
At 30 June 2020 |
478,262 |
|
|
|
|
|
|
|
|
|
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Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. |
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|
5 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 July 2020 |
37,496 |
|
At 30 June 2021 |
37,496 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2020 |
27,355 |
|
Charge for the year |
2,535 |
|
At 30 June 2021 |
29,890 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2021 |
7,606 |
|
At 30 June 2020 |
10,141 |
|
|
|
|
|
|
|
|
|
|
|
|
6 |
Debtors |
2021 |
|
2020 |
£ |
£ |
|
|
Trade debtors |
27,873 |
|
45,297 |
|
Prepayments |
3,644 |
|
7,594 |
|
Accrued income |
46,896 |
|
- |
|
Other debtors |
5,343 |
|
6,770 |
|
|
|
|
|
|
83,756 |
|
59,661 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
£ |
£ |
|
|
Non-equity preference shares |
80,000 |
|
90,000 |
|
Bank loans and overdrafts |
80,000 |
|
- |
|
Trade creditors |
87,955 |
|
69,555 |
|
Accruals |
194,107 |
|
165,322 |
|
Other taxes and social security costs |
33,710 |
|
104,899 |
|
Other creditors |
721,012 |
|
745,928 |
|
|
|
|
|
|
1,196,784 |
|
1,175,704 |
|
|
|
|
|
|
|
|
|
|
8 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
£ |
£ |
|
|
Bank loans |
40,000 |
|
50,000 |
|
|
|
|
|
|
|
|
|
|
9 |
Off-balance sheet arrangements |
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|
In the year end 30 June 2020 the company has been approved for a 118 year lease in respect of the playing ground and ajoining land. |
|
|
10 |
Related party transactions |
2021 |
|
2020 |
£ |
£ |
|
Shots in The Community Foundation |
|
Shots in The Community Foundation is related to Aldershot Town Football Club Ltd (ATFC) as Mr Azeem is a charity trustee and also a director in ATFC. |
|
At the year end, the Charity owed ATFC: |
|
3,847 |
|
3,847 |
|
11 |
Other information |
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Aldershot Town Football Club Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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The EBB Stadium |
|
High Street |
|
Aldershot |
|
Hampshire |
|
GU11 1TW |