Company Registration No. SC194721 (Scotland)
HAFC Stadium Limited
Unaudited accounts
for the period from 1 July 2021 to 31 March 2022
HAFC Stadium Limited
Unaudited accounts
Contents
HAFC Stadium Limited
Company Information
for the period from 1 July 2021 to 31 March 2022
Company Number
SC194721 (Scotland)
Registered Office
The Cross
Main Street
Uddingston
G71 7ES
Accountants
KCD Chartered Accountants
104 Cadzow Street
Hamilton
ML3 6HP
HAFC Stadium Limited
Statement of financial position
as at
31 March 2022
Tangible assets
2,437,099
2,495,835
Cash at bank and in hand
26,679
241,043
Creditors: amounts falling due within one year
(151)
(14,577)
Net current assets
671,562
906,940
Total assets less current liabilities
3,108,661
3,402,775
Creditors: amounts falling due after more than one year
(2,452,959)
(2,689,225)
Provisions for liabilities
Other provisions
(444,000)
(444,000)
Net assets
211,702
269,550
Called up share capital
200,000
200,000
Profit and loss account
11,702
69,550
Shareholders' funds
211,702
269,550
For the period ending 31 March 2022 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 1 December 2022 and were signed on its behalf by
Colin McGowan
Director
Company Registration No. SC194721
HAFC Stadium Limited
Notes to the Accounts
for the period from 1 July 2021 to 31 March 2022
HAFC Stadium Limited is a private company, limited by shares, registered in Scotland, registration number SC194721. The registered office is The Cross, Main Street, Uddingston, G71 7ES.
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 period, 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:
Land & buildings
Heritable Property - straight line over 50 years
Plant & 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 2021
5,242,763
606,066
5,848,829
Additions
-
67,500
67,500
At 31 March 2022
5,242,763
673,566
5,916,329
At 1 July 2021
2,767,280
585,714
3,352,994
Charge for the period
104,856
21,380
126,236
At 31 March 2022
2,872,136
607,094
3,479,230
At 31 March 2022
2,370,627
66,472
2,437,099
At 30 June 2021
2,475,483
20,352
2,495,835
HAFC Stadium Limited
Notes to the Accounts
for the period from 1 July 2021 to 31 March 2022
Amounts falling due within one year
Trade debtors
3,419
11,660
Amounts due from group undertakings etc.
582,283
582,283
Other debtors
49,500
81,458
6
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
151
888
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
837,421
2,086,129
Other creditors
1,075,538
43,096
8
Provisions for liabilities
£
A provision has been made against dilapidations to reinstate the building to original state with modernisation allowances as per survey.
9
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 (2021: £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 (2021 : £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 £43,096 (2021: £43,096) 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 £57,000 (2021: £41,000) from Hamilton Academical Football Club Limited.
HAFC Stadium Limited
Notes to the Accounts
for the period from 1 July 2021 to 31 March 2022
10
Average number of employees
During the period the average number of employees was 1 (2021: 2).