Company Registration No. 09667581 (England and Wales)
MIDLAND FOOTBALL LEAGUE LIMITED
(a Company Limited by Guarantee and Not Having a Share Capital)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
MIDLAND FOOTBALL LEAGUE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MIDLAND FOOTBALL LEAGUE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
13,273
2,926
Cash at bank and in hand
5
149,915
153,585
163,188
156,511
Creditors: amounts falling due within one year
6
(32,425)
(36,510)
Net current assets
130,763
120,001
Reserves
Income and expenditure account
130,763
120,001
Members' funds
7
130,763
120,001
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 June 2023 and are signed on its behalf by:
M Joiner
Darren Mansell MAAT
Director
Director
Company Registration No. 09667581
MIDLAND FOOTBALL LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Midland Football League Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 6, Woodthorne Walk, Kingswinford, West Midlands, DY6 7HD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors and bank loans.
Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.5
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
2
Directors
The average monthly number of directors during the year was:
2023
2022
Number
Number
Total
7
6
MIDLAND FOOTBALL LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
3
Stocks
2023
2022
£
£
Closing stock
4
Debtors and prepayments
2023
2022
£
£
Registrations and transfers
3,172
62
Fines
3,850
393
Sponsorship
2,000
-
Annual dinner
970
-
Cup expenses
531
-
Insurances
2,750
2,471
13,273
2,926
5
Bank balances
2023
2022
£
£
Current account
43,589
46,741
Aldermore savings account
76,891
76,509
No. 2 account - Clubs' bond account
29,435
30,335
149,915
153,585
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,220
3,640
Club's bond deposits
28,035
30,335
Other creditors - Amounts received in advance
170
-
Observers scheme
-
2,535
32,425
36,510
MIDLAND FOOTBALL LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
7
Members funds
2023
2022
£
£
Accumulated funds brought forward
120,001
113,921
Surplus (Deficit) for the year
10,762
6,080
Accumulated funds carried forward
130,763
120,001