REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Hastings United Football Club Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Hastings United Football Club Limited |
Hastings United Football Club Limited (Registered number: 03441850) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
Hastings United Football Club Limited |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
36 Cambridge Road |
Hastings |
East Sussex |
TN34 1DU |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Hastings United Football Club Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hastings United Football Club Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Hastings United Football Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hastings United Football Club Limited and state those matters that we have agreed to state to the Board of Directors of Hastings United Football Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hastings United Football Club Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Hastings United Football Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hastings United Football Club Limited. You consider that Hastings United Football Club Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Hastings United Football Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
36 Cambridge Road |
Hastings |
East Sussex |
TN34 1DU |
Hastings United Football Club Limited (Registered number: 03441850) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stock |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
ACCRUALS & DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL & RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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 |
Hastings United Football Club Limited (Registered number: 03441850) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Hastings United Football Club Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total value, excluding value added tax, of goods and services made during the year. |
Tangible fixed assets |
Long leasehold | - |
Ground improvements | - |
Fixtures fittings and equipment | - |
Computer equipment | - |
Stock |
Stock is valued at the lower of cost and realisable value. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Donations and grants |
Donations and grants for capital expenditure are credited to deferred revenue and are released to the profit and loss account over the expected useful life of the assets. Other donations received are credited to the profit and loss account as they are received. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Hastings United Football Club Limited (Registered number: 03441850) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
fittings |
Long | Ground | and | Computer |
leasehold | improvements | equipment | 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 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans & overdrafts |
Social security & other taxes |
VAT | 10,057 | 14,053 |
Other creditors |
Directors' loans | 179,385 | 97,940 |
Accruals |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included in creditors falling due within one year is a £5,000 (2022 £5,000) loan from D Burney and a £174,385 (2022 £92,940) loan from Bohemia Hastings LLP, a partnership controlled by D Burney and P J Sherlock. |
9. | ULTIMATE CONTROLLING PARTY |
The company is controlled by no one party. |
Hastings United Football Club Limited (Registered number: 03441850) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
10. | CHANGE OF OWNERSHIP |
At 31 May 2023, the company's majority shareholders were Bohemia Hastings LLP. Since the year end, Bohemia Hastings LLP have sold all of their majority shareholding to Aspire Sport Hastings Ltd who are now the majority shareholders. As part of the arrangement, Aspire Sport Hastings Ltd made a loan to the company to pay off the loan from Bohemia Hastings LLP which was shown in the Balance Sheet at 31 May 2023. The directors of Aspire Sport Hastings Ltd confirm that they have no intention of seeking repayment of their loan to the company. |