IRIS Accounts Production v23.3.0.418 03760324 Board of Directors 1.7.22 30.6.23 30.6.23 20.10.23 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037603242022-06-30037603242023-06-30037603242022-07-012023-06-30037603242021-06-30037603242021-07-012022-06-30037603242022-06-3003760324ns10:Originalns15:EnglandWales2022-07-012023-06-3003760324ns14:PoundSterlingns10:Original2022-07-012023-06-3003760324ns10:Originalns10:Director12022-07-012023-06-3003760324ns10:Original2022-07-012023-06-3003760324ns10:Original2023-06-3003760324ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3003760324ns10:Originalns10:SmallEntities2022-07-012023-06-3003760324ns10:Originalns10:Audited2022-07-012023-06-3003760324ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3003760324ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3003760324ns10:Originalns10:FullAccounts2022-07-012023-06-3003760324ns10:Originalns10:Director22022-07-012023-06-3003760324ns10:Originalns10:Director32022-07-012023-06-3003760324ns10:Originalns10:Director42022-07-012023-06-3003760324ns10:Originalns10:Director52022-07-012023-06-3003760324ns10:Originalns10:Director62022-07-012023-06-3003760324ns10:Originalns10:Director72022-07-012023-06-3003760324ns10:Director8ns10:Original2022-07-012023-06-3003760324ns10:Originalns10:Director92022-07-012023-06-3003760324ns10:Director10ns10:Original2022-07-012023-06-3003760324ns10:CompanySecretary1ns10:Original2022-07-012023-06-3003760324ns10:Originalns10:RegisteredOffice2022-07-012023-06-3003760324ns10:Original2022-06-3003760324ns10:Originalns5:CurrentFinancialInstruments2023-06-3003760324ns10:Originalns5:CurrentFinancialInstruments2022-06-3003760324ns10:Originalns5:Non-currentFinancialInstruments2023-06-3003760324ns10:Originalns5:Non-currentFinancialInstruments2022-06-3003760324ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2023-06-3003760324ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-06-3003760324ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3003760324ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3003760324ns10:Original2021-07-012022-06-3003760324ns10:Originalns5:LandBuildings2022-06-3003760324ns10:Originalns5:PlantMachinery2022-06-3003760324ns10:Originalns5:FurnitureFittings2022-06-3003760324ns10:Originalns5:ComputerEquipment2022-06-3003760324ns10:Original2022-06-3003760324ns10:Originalns5:LandBuildings2022-07-012023-06-3003760324ns10:Originalns5:PlantMachinery2022-07-012023-06-3003760324ns10:Originalns5:FurnitureFittings2022-07-012023-06-3003760324ns10:Originalns5:ComputerEquipment2022-07-012023-06-3003760324ns10:Originalns5:LandBuildings2023-06-3003760324ns10:Originalns5:PlantMachinery2023-06-3003760324ns10:Originalns5:FurnitureFittings2023-06-3003760324ns10:Originalns5:ComputerEquipment2023-06-3003760324ns10:Originalns5:LandBuildings2022-06-3003760324ns10:Originalns5:PlantMachinery2022-06-3003760324ns10:Originalns5:FurnitureFittings2022-06-3003760324ns10:Originalns5:ComputerEquipment2022-06-3003760324ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3003760324ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3003760324ns10:Originalns5:WithinOneYear2023-06-3003760324ns10:Originalns5:WithinOneYear2022-06-3003760324ns5:BetweenOneFiveYearsns10:Original2023-06-3003760324ns5:BetweenOneFiveYearsns10:Original2022-06-3003760324ns10:Originalns5:AllPeriods2023-06-3003760324ns10:Originalns5:AllPeriods2022-06-30
REGISTERED NUMBER: 03760324 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

LANCASHIRE FOOTBALL ASSOCIATION LIMITED

LANCASHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03760324)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LANCASHIRE FOOTBALL ASSOCIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: J Carlin
J Day-Garner
D G Flory
A H Hashmi
C Howard
S J Kellett
P Kohli
R Mcqueen
P Newman
M S Wild



SECRETARY: S C Gerrard



REGISTERED OFFICE: The County Ground
Thurston Road, Leyland
Preston
Lancashire
PR25 2LF



REGISTERED NUMBER: 03760324 (England and Wales)



SENIOR STATUTORY AUDITOR: Diccon Thornely



AUDITORS: Sedulo Audit Limited
Statutory Auditors
605 Albert House
256-260 Old Street
London
EC1V 9DD

LANCASHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03760324)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,247,709 1,275,544

CURRENT ASSETS
Stocks 3,726 4,170
Debtors 5 337,272 167,062
Cash at bank and in hand 1,336,631 1,301,882
1,677,629 1,473,114
CREDITORS
Amounts falling due within one year 6 680,224 475,124
NET CURRENT ASSETS 997,405 997,990
TOTAL ASSETS LESS CURRENT LIABILITIES 2,245,114 2,273,534

CREDITORS
Amounts falling due after more than one
year

7

424,161

447,901
NET ASSETS 1,820,953 1,825,633

RESERVES
Other reserves 288,758 288,758
Retained earnings 1,532,195 1,536,875
1,820,953 1,825,633

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





D G Flory - Director


LANCASHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03760324)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Lancashire Football Association Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company
Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations)that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the accounting policies below.

Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Members affiliation fees, competition entry fees and discipline income are recognised in line with the football season report. Grant income is recognised in the period to which it relates and in which the money is expended. Coach education income is recognised in the period the course is delivered.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost less depreciation.

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 and other costs incurred in bringing the stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LANCASHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03760324)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants
Grants are classified as either as relating to revenue or relating to assets.

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

LANCASHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03760324)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit and loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments 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.

LANCASHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03760324)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2022 - 51 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,955,483 130,214 705,098 71,485 2,862,280
Additions 15,000 - 19,817 2,515 37,332
At 30 June 2023 1,970,483 130,214 724,915 74,000 2,899,612
DEPRECIATION
At 1 July 2022 811,561 117,590 599,729 57,856 1,586,736
Charge for year 38,891 4,056 16,777 5,443 65,167
At 30 June 2023 850,452 121,646 616,506 63,299 1,651,903
NET BOOK VALUE
At 30 June 2023 1,120,031 8,568 108,409 10,701 1,247,709
At 30 June 2022 1,143,922 12,624 105,369 13,629 1,275,544

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 323,001 146,904
Other debtors 14,271 20,158
337,272 167,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 78,947 90,299
Taxation and social security 25,737 18,809
Other creditors 575,540 366,016
680,224 475,124

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 424,161 447,901

LANCASHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03760324)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 9,420 10,820
Between one and five years 28,260 43,280
37,680 54,100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Diccon Thornely (Senior Statutory Auditor)
for and on behalf of Sedulo Audit Limited