Company registration number 01287721 (England and Wales)
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
COMPANY INFORMATION
Directors
Mr A M Holt
Mrs V Hargreaves
Mr T D O'Neill
Mr D P Burgess
Company number
01287721
Registered office and
Livingstone Road
business address
Accrington
Lancashire
BB5 5BX
Auditor
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 11
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
2,501
44,216
Tangible assets
5
7,706,511
7,109,008
7,709,012
7,153,224
Current assets
Stocks
41,799
27,635
Debtors
6
818,805
1,727,460
Cash at bank and in hand
98,901
194,687
959,505
1,949,782
Creditors: amounts falling due within one year
7
(6,426,173)
(6,088,157)
Net current liabilities
(5,466,668)
(4,138,375)
Total assets less current liabilities
2,242,344
3,014,849
Creditors: amounts falling due after more than one year
8
(673,646)
(660,615)
Net assets
1,568,698
2,354,234
Capital and reserves
Called up share capital
11
616,886
616,886
Share premium account
994,207
994,207
Capital redemption reserve
100
100
Other reserves
56,823
56,823
Profit and loss reserves
(99,318)
686,218
Total equity
1,568,698
2,354,234

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 14 March 2024 and are signed on its behalf by:
Mr A M Holt
Director
Company Registration No. 01287721
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Accrington Stanley Football Club Limited is a private company limited by shares incorporated in England and Wales. The registered office is Crown Ground, Livingstone Road, Accrington, Lancashire, BB5 5BX.

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. The principal accounting policies adopted are set out below.

Accrington Stanley Football Club Limited is a subsidiary of 0404 Investments Limited and the results of Accrington Stanley Football Club Limited are included in the consolidated financial statements of 0404 Investments Limited which are available from the registered office.

1.2
Going concern

The company continues on a going concern basis due to the financial support provided by companies, principally What More UK Limited, under the control of its ultimate controlling party, Mr A M Holt.true

 

The directors are not aware of any reasons as to why this financial support would be withdrawn and the company is expected to operate in its present manner for at least the next twelve months.

 

The directors therefore consider that in preparing the financial statements they have taken into account all the information that could reasonably be expected to be available.

 

On this basis, they consider it appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Turnover represents income from gate receipts and season ticket income, television rights, donations, running youth development programmes and other ancillary commercial activities, exclusive of value added tax.

 

Transfer fees receivable are recognised in the profit on disposal of players' registrations.

1.4
Intangible fixed assets other than goodwill

Intangible assets, including player registrations, acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% straight line/over the term of the previous lease
Plant and machinery
10% - 15% straight line
Fixtures, fittings & equipment
15% - 20% straight line
Motor vehicles
25% straight line

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.7
Stocks

Stock is valued at the lower of cost and net realisable value.

1.8
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.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 include debtors and cash and bank balances, are measured at transaction price including transaction costs.

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.

ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or 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 method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at 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.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.15
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
148
213
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
4
Intangible fixed assets
Registration fees for players acquired
£
Cost
At 1 July 2022
160,500
Additions
5,000
Disposals
(86,000)
At 30 June 2023
79,500
Amortisation and impairment
At 1 July 2022
116,284
Amortisation charged for the year
36,138
Disposals
(75,423)
At 30 June 2023
76,999
Carrying amount
At 30 June 2023
2,501
At 30 June 2022
44,216
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2022
7,415,768
940,455
8,356,223
Additions
764,760
106,275
871,035
At 30 June 2023
8,180,528
1,046,730
9,227,258
Depreciation and impairment
At 1 July 2022
938,787
308,428
1,247,215
Depreciation charged in the year
124,817
148,715
273,532
At 30 June 2023
1,063,604
457,143
1,520,747
Carrying amount
At 30 June 2023
7,116,924
589,587
7,706,511
At 30 June 2022
6,476,981
632,027
7,109,008
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
692,178
874,024
Other debtors
126,627
853,436
818,805
1,727,460
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
-
605,000
Total debtors
818,805
2,332,460

Included in Other debtors falling due after more than one year, is an amount of £nil (2022: £605,000) relating to part of the consideration payable on the sale of three players.

7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
215,535
409,570
Amounts owed to group undertakings
4,808,282
4,157,207
Corporation tax
76
76
Other taxation and social security
123,024
78,093
Other creditors
1,279,256
1,443,211
6,426,173
6,088,157
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
673,646
660,615
9
Loans and overdrafts
2023
2022
£
£
Other loans
61,200
122,000
Payable within one year
61,200
60,800
Payable after one year
-
0
61,200
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
9
Loans and overdrafts
(Continued)
- 8 -

During the year ended 30 June 2020 the company received an 'Advance Distributions loan' from the EFL. The loan is unsecured and interest-free.

ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -
10
Government grants
2023
2022
£
£
Arising from government grants
688,666
612,635

Deferred income is included in the financial statements as follows:

Current liabilities
15,020
13,220
Non-current liabilities
673,646
599,415
688,666
612,635

During the period to 30 June 2019 the company received grants totalling £660,983 from The Football Stadia Improvement Fund to contribute to the costs of improving its football stadium.

 

The above grant is secured by way of a legal charge over the company's property.

 

The grant provider has the right to claw back whole or part of the grant over a period of twenty-one years, under certain circumstances, from the date of receipt.

 

During the current year the company received a grant of £90,000 from The EFL Stadia & Facility Fund to contribute to the cost of constructing its new changing rooms.

 

The grant provider has the right to claw back the whole grant over a period of ten years, under certain circumstances, from the date of receipt.

 

11
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
122,386 Ordinary A shares of £1 each
122,386
122,386
9,800 Ordinary B shares of £10 each
98,000
98,000
3,965 Ordinary C shares of £100 each
396,500
396,500
616,886
616,886
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 10 -
12
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Linda Wilkinson
Statutory Auditor:
Pierce C A Limited
13
Capital commitments

Amounts contracted for but not provided in the financial statements:

2023
2022
£
£
Acquisition of tangible fixed assets
-
243,741
ACCRINGTON STANLEY FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 11 -
14
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Purchases
2023
2022
2023
2022
£
£
£
£
Other group undertakings
67,188
65,000
25,415
17,841
Companies under the control of A M Holt
2,528
920
712,871
2,358,315
Loan Interest
2023
2022
£
£
Other group undertakings
135,696
64,257

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Other group undertakings
4,808,282
4,157,207
Companies under the control of A M Holt
-
334,390

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Other group undertakings
180
373
15
Parent company

The company is a subsidiary of 0404 Investments Limited, a company registered in England and Wales.

 

The registered office address of the above company is:

 

Pendle Court,

Unit 4 Shuttleworth Mead Business Park,

Mead Way,

Padiham,

Burnley,

Lancashire BB12 7NG

 

0404 Investments Limited is under the control of the director, A M Holt, by virtue of his shareholdings in that company.

2023-06-302022-07-01false14 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr A M HoltMrs V HargreavesMr T D O'NeillMr D P Burgessfalse012877212022-07-012023-06-3001287721bus:Director12022-07-012023-06-3001287721bus:Director22022-07-012023-06-3001287721bus:Director32022-07-012023-06-3001287721bus:Director42022-07-012023-06-3001287721bus:RegisteredOffice2022-07-012023-06-30012877212023-06-30012877212022-06-3001287721core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-06-3001287721core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-06-3001287721core:LandBuildings2023-06-3001287721core:OtherPropertyPlantEquipment2023-06-3001287721core:LandBuildings2022-06-3001287721core:OtherPropertyPlantEquipment2022-06-3001287721core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3001287721core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3001287721core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3001287721core:Non-currentFinancialInstrumentscore:AfterOneYear2022-06-3001287721core:CurrentFinancialInstruments2023-06-3001287721core:CurrentFinancialInstruments2022-06-3001287721core:ShareCapital2023-06-3001287721core:ShareCapital2022-06-3001287721core:SharePremium2023-06-3001287721core:SharePremium2022-06-3001287721core:CapitalRedemptionReserve2023-06-3001287721core:CapitalRedemptionReserve2022-06-3001287721core:OtherMiscellaneousReserve2023-06-3001287721core:OtherMiscellaneousReserve2022-06-3001287721core:RetainedEarningsAccumulatedLosses2023-06-3001287721core:RetainedEarningsAccumulatedLosses2022-06-3001287721core:ShareCapitalOrdinaryShares2023-06-3001287721core:ShareCapitalOrdinaryShares2022-06-3001287721core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3001287721core:LandBuildingscore:OwnedOrFreeholdAssets2022-07-012023-06-3001287721core:PlantMachinery2022-07-012023-06-3001287721core:FurnitureFittings2022-07-012023-06-3001287721core:MotorVehicles2022-07-012023-06-30012877212021-07-012022-06-3001287721core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-06-3001287721core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillcore:ExternallyAcquiredIntangibleAssets2022-07-012023-06-3001287721core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-07-012023-06-3001287721core:LandBuildings2022-06-3001287721core:OtherPropertyPlantEquipment2022-06-30012877212022-06-3001287721core:LandBuildings2022-07-012023-06-3001287721core:OtherPropertyPlantEquipment2022-07-012023-06-3001287721core:WithinOneYear2023-06-3001287721core:WithinOneYear2022-06-3001287721core:Non-currentFinancialInstruments2023-06-3001287721core:Non-currentFinancialInstruments2022-06-3001287721bus:PrivateLimitedCompanyLtd2022-07-012023-06-3001287721bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3001287721bus:FRS1022022-07-012023-06-3001287721bus:Audited2022-07-012023-06-3001287721bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP