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COMPANY REGISTRATION NUMBER: 00334042
Harrow Borough Football Club Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 May 2023
Harrow Borough Football Club Limited
Company Limited by Guarantee
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
751,782
752,228
Current assets
Stocks
1,000
1,000
Debtors
7
366
Cash at bank and in hand
41,839
64,073
--------
--------
42,839
65,439
Creditors: amounts falling due within one year
8
245,882
247,830
---------
---------
Net current liabilities
203,043
182,391
---------
---------
Total assets less current liabilities
548,739
569,837
Creditors: amounts falling due after more than one year
9
312,550
334,161
---------
---------
Net assets
236,189
235,676
---------
---------
Capital and reserves
Other reserves
200,547
200,547
Profit and loss account
35,642
35,129
---------
---------
Members funds
236,189
235,676
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Harrow Borough Football Club Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 19 September 2023 , and are signed on behalf of the board by:
Mr P K Rogers
Director
Company registration number: 00334042
Harrow Borough Football Club Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Rogers Family Stadium, Earlsmead, Carlyon Avenue, South Harrow, Middlesex, HA2 8SS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Company limited by guarantee
The company is limited by guarantee, having no share capital. On winding up the collective liability of the members is £1.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).
6. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
750,000
113,821
863,821
---------
---------
---------
Depreciation
At 1 June 2022
111,593
111,593
Charge for the year
446
446
---------
---------
---------
At 31 May 2023
112,039
112,039
---------
---------
---------
Carrying amount
At 31 May 2023
750,000
1,782
751,782
---------
---------
---------
At 31 May 2022
750,000
2,228
752,228
---------
---------
---------
7. Debtors
2023
2022
£
£
Other debtors
366
----
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
9,950
35,346
Social security and other taxes
9,493
3,743
Other creditors
226,439
208,741
---------
---------
245,882
247,830
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
108,171
129,782
Other creditors
204,379
204,379
---------
---------
312,550
334,161
---------
---------
10. Related party transactions
The company was under the control of its directors throughout the current and previous year. The amount due to the directors as at 31st May 2022 was £218,537 (2022:£208,741)