REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 May 2023 |
for |
Hereford FC Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 May 2023 |
for |
Hereford FC Limited |
Hereford FC Limited (Registered number: 08970067) |
Contents of the Financial Statements |
for the year ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hereford FC Limited |
Company Information |
for the year ended 31 May 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Unit 2 Foley Works |
Foley Industrial Estate |
Hereford |
Herefordshire |
HR1 2SF |
Hereford FC Limited (Registered number: 08970067) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
Hereford FC Limited (Registered number: 08970067) |
Balance Sheet - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hereford FC Limited (Registered number: 08970067) |
Notes to the Financial Statements |
for the year ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Hereford FC Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Community Assets | - |
Fixtures and fittings | - |
Office equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
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. |
Hereford FC Limited (Registered number: 08970067) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2023 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Community | and | Office |
property | Assets | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 June 2022 |
Additions |
At 31 May 2023 |
Depreciation |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
Net book value |
At 31 May 2023 |
At 31 May 2022 |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Hereford FC Limited (Registered number: 08970067) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 289,000 | 289,000 |
Ordinary A | £1 | 289,000 | 275,000 |
578,000 | 564,000 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | OTHER FINANCIAL COMMITMENTS |
The company had total guarantees and commitments at 31 May 2023 of £72,500 (2022 - £82,500). |
In 2018, the company entered in to a new lease agreement for Edgar Street stadium with Herefordshire Council which commenced on 1st August 2020. The new lease secures the use of the premises until July 31st 2030 at the cost of £10,000 per annum. |