Company Registration No. SC194721 (Scotland)
HAFC Stadium Limited
Unaudited accounts
for the year ended 30 June 2020
HAFC Stadium Limited
Unaudited accounts
Contents
HAFC Stadium Limited
Company Information
for the year ended 30 June 2020
Company Number
SC194721 (Scotland)
Registered Office
NEW DOUGLAS PARK
CADZOW AVENUE
HAMILTON
LANARKSHIRE
ML3 0FT
Accountants
KCD Chartered Accountants
104 Cadzow Street
Hamilton
ML3 6HP
HAFC Stadium Limited
Statement of financial position
as at
30 June 2020
Tangible assets
2,710,614
2,929,592
Cash at bank and in hand
137,487
117,493
Creditors: amounts falling due within one year
(362,955)
(337,161)
Net current assets
423,475
430,688
Total assets less current liabilities
3,134,089
3,360,280
Creditors: amounts falling due after more than one year
(2,768,892)
(3,154,721)
Net assets
365,197
205,559
Called up share capital
200,000
200,000
Profit and loss account
165,197
5,559
Shareholders' funds
365,197
205,559
For the year ending 30 June 2020 the company was 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 Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 March 2021 and were signed on its behalf by
Colin McGowan
Director
Company Registration No. SC194721
HAFC Stadium Limited
Notes to the Accounts
for the year ended 30 June 2020
HAFC Stadium Limited is a private company, limited by shares, registered in Scotland, registration number SC194721. The registered office is NEW DOUGLAS PARK, CADZOW AVENUE, HAMILTON, LANARKSHIRE, ML3 0FT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Heritable property - straight line over 50 years
Plant and machinery - straight line over 4 years
Football Trust Grant received in respect of capital expenditure is credited to the profit and loss account over the estimated useful life of the fixed assets. The amount shown on the balance sheet represents the deferred income balance not yet credited to the profit and loss account.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 July 2019
5,462,763
606,066
6,068,829
Disposals
(110,000)
-
(110,000)
At 30 June 2020
5,352,763
606,066
5,958,829
At 1 July 2019
2,570,969
568,268
3,139,237
Charge for the year
106,855
8,723
115,578
On disposals
(6,600)
-
(6,600)
At 30 June 2020
2,671,224
576,991
3,248,215
At 30 June 2020
2,681,539
29,075
2,710,614
At 30 June 2019
2,891,794
37,798
2,929,592
HAFC Stadium Limited
Notes to the Accounts
for the year ended 30 June 2020
Trade debtors
11,660
38,073
Amounts due from group undertakings etc.
582,283
582,283
Accrued income and prepayments
25,000
-
Other debtors
30,000
30,000
Total debtors less than one year
648,943
650,356
Total debtors
648,943
650,356
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
277,093
277,093
Trade creditors
6,770
6,770
Taxes and social security
59,567
30,940
7
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
2,097,021
2,267,850
Other creditors
91,871
286,871
8
Transactions with related parties
Group structure and ultimate controlling party
The company is wholly owned by Deeka Limited, of which C C McGowan is a director.
The Ultimate controlling party is Edencrest Limited, of which C C McGowan is a director and shareholder.
Debtors
Included in debtors is an amount of £5,383 (2019: £5383) due from Deeka Limited. The balance is interest free and has no fixed repayment date or term. Included in the debtors is an amount of £576,900 (2019 : £576,900) due from Edencrest Limited. The balance is interest free and has no repayment date or term.
Creditors
Included in creditors is an amount of £91,871.00 (2019: £286,871) due to Hamilton Academical Football Club Limited, of which C C McGowan is a director and which is ultimately controlled by Edencrest Limited. This balance is interest free and has no repayment date or term.
Income
The company received rent during the year of £60,000 (2019: £60,000) from Hamilton Academical Football Club Limited.
9
Average number of employees
During the year the average number of employees was 3 (2019: 2).