Company Registration No. SC194721 (Scotland)
HAFC Stadium Limited
Unaudited accounts
for the year ended 30 June 2021
HAFC Stadium Limited
Unaudited accounts
Contents
HAFC Stadium Limited
Company Information
for the year ended 30 June 2021
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
30 June 2021
Tangible assets
2,495,835
2,710,614
Cash at bank and in hand
241,043
137,487
Creditors: amounts falling due within one year
(14,577)
(362,955)
Net current assets
906,940
423,475
Total assets less current liabilities
3,402,775
3,134,089
Creditors: amounts falling due after more than one year
(2,689,225)
(2,768,892)
Provisions for liabilities
Other provisions
(444,000)
-
Net assets
269,550
365,197
Called up share capital
200,000
200,000
Profit and loss account
69,550
165,197
Shareholders' funds
269,550
365,197
For the year ending 30 June 2021 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 24 March 2022 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 2021
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 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 2020
5,352,763
606,066
5,958,829
Disposals
(110,000)
-
(110,000)
At 30 June 2021
5,242,763
606,066
5,848,829
At 1 July 2020
2,671,224
576,991
3,248,215
Charge for the year
104,856
8,723
113,579
On disposals
(8,800)
-
(8,800)
At 30 June 2021
2,767,280
585,714
3,352,994
At 30 June 2021
2,475,483
20,352
2,495,835
At 30 June 2020
2,681,539
29,075
2,710,614
HAFC Stadium Limited
Notes to the Accounts
for the year ended 30 June 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
11,660
11,660
Amounts due from group undertakings etc.
582,283
582,283
Accrued income and prepayments
-
25,000
Other debtors
81,458
30,000
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
-
277,093
Taxes and social security
888
59,567
7
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
2,086,129
2,097,021
Other creditors
43,096
91,871
8
Provisions for liabilities
£
Additional provisions made during the period
444,000
A provision has been made against dilapidations to reinstate the building to original state with modernisation allowances as per survey.
HAFC Stadium Limited
Notes to the Accounts
for the year ended 30 June 2021
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 (2020: £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 (2020 : £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 (2020: £91,871) 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 £41,000 (2019: £60,000) from Hamilton Academical Football Club Limited.
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Average number of employees
During the year the average number of employees was 2 (2020: 3).