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REGISTERED NUMBER: 08970067 (England and Wales)















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: P J Churchus
A M Taylor
J D Roberts
M S Langford
C D Ammonds
D J Ball
G Webb





Secretary: P J Churchus





Registered office: Edgar Street
Hereford
Herefordshire
HR4 9JU





Registered number: 08970067 (England and Wales)





Auditors: Acre Accountancy Limited
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 51,518 53,946

CURRENT ASSETS
Stocks 18,360 28,467
Debtors 6 92,024 96,270
Cash at bank and in hand 155,154 77,407
265,538 202,144
CREDITORS
Amounts falling due within one year 7 (310,533 ) (218,447 )
NET CURRENT LIABILITIES (44,995 ) (16,303 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,523

37,643

CAPITAL AND RESERVES
Called up share capital 8 578,000 564,000
Retained earnings (571,477 ) (526,357 )
SHAREHOLDERS' FUNDS 6,523 37,643

Hereford FC Limited (Registered number: 08970067)

Balance Sheet - continued
31 May 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2023 and were signed on its behalf by:





P J Churchus - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Community Assets - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 33% on cost

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 37 (2022 - 30 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Community and Office
property Assets fittings equipment Totals
£    £    £    £    £   
Cost
At 1 June 2022 37,543 1,854 63,537 21,937 124,871
Additions - - 9,576 - 9,576
At 31 May 2023 37,543 1,854 73,113 21,937 134,447
Depreciation
At 1 June 2022 18,529 371 30,297 21,728 70,925
Charge for year 3,802 296 7,697 209 12,004
At 31 May 2023 22,331 667 37,994 21,937 82,929
Net book value
At 31 May 2023 15,212 1,187 35,119 - 51,518
At 31 May 2022 19,014 1,483 33,240 209 53,946

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 63,040 69,328
Other debtors 23,984 21,942
87,024 91,270

Amounts falling due after more than one year:
Other debtors 5,000 5,000

Aggregate amounts 92,024 96,270

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 48,136 59,025
Taxation and social security 60,482 33,865
Other creditors 201,915 125,557
310,533 218,447

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: £    £   
289,000 Ordinary £1 289,000 289,000
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.

Mr Mark Bevan FCCA (Senior Statutory Auditor)
for and on behalf of Acre Accountancy Limited

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.