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REGISTERED NUMBER: SC010466 (Scotland)















Financial Statements for the Year Ended 30 June 2023

for

The Albion Rovers Football Club, Ltd.

The Albion Rovers Football Club, Ltd. (Registered number: SC010466)






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


The Albion Rovers Football Club, Ltd.

Company Information
for the Year Ended 30 June 2023







DIRECTORS: R Cameron
H Morrison
I Mulholland
M Rizza



REGISTERED OFFICE: The Reigart Stadium
Cliftonhill
Main Street
Coatbridge
ML5 3RB



REGISTERED NUMBER: SC010466 (Scotland)



SENIOR STATUTORY AUDITOR: Robert Pollock BA CA



AUDITORS: Sharles Audit Limited
Statutory Auditor
29 Brandon Street
Hamilton
ML3 6DA

The Albion Rovers Football Club, Ltd. (Registered number: SC010466)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 986,238 997,265

CURRENT ASSETS
Debtors 6 4,946 13,483
Cash at bank and in hand 628 54,024
5,574 67,507
CREDITORS
Amounts falling due within one year 7 25,452 26,748
NET CURRENT (LIABILITIES)/ASSETS (19,878 ) 40,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

966,360

1,038,024

CREDITORS
Amounts falling due after more than one
year

8

(48,681

)

(51,071

)

PROVISIONS FOR LIABILITIES (58,306 ) (71,434 )
NET ASSETS 859,373 915,519

CAPITAL AND RESERVES
Called up share capital 3,300 3,300
Revaluation reserve 869,602 874,066
Retained earnings (13,529 ) 38,153
SHAREHOLDERS' FUNDS 859,373 915,519

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:




R Cameron - Director



H Morrison - Director


The Albion Rovers Football Club, Ltd. (Registered number: SC010466)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

The Albion Rovers Football Club, Ltd. is a private company, limited by shares , registered in Scotland. 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. 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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts received from gate and television receipts, sponsorship and commercial income, and transfer fees, exclusive of value added tax. Consideration is given to the point at which the company is entitled to receive the income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 1% on cost
Plant and machinery etc - 25% on cost, 20% on cost and 4% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

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.


The Albion Rovers Football Club, Ltd. (Registered number: SC010466)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued
Deferred taxation
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.

Going concern
The directors consider it appropriate to prepare the financial statements on a going concern basis.

The Board of directors understand the need to revert to cost cutting measures within the Football Club, ensuring costs are more aligned with the reduced income levels associated with playing in the Scottish Lowland Football League.

By aligning the operational costs of running the Club with income generated, the Club aims to improve upon the current financial position, budgeting as necessary to avoid the need for additional external funding in the medium to long term whilst continuing to meet its liabilities as they fall due.

The going concern is subject to the continued support from the Football Club's fans, creditors and banking provider. The directors fully expect that this support will continue.

The financial statements do not include any adjustments that would result in a withdrawal of support from the various groups mentioned above.

Player and manager registrations
Gains or losses on fees receivable from other football clubs on the transfer of players' or managers' registrations are recorded in the profit and loss account in the accounting period in which the transfer takes place. No value is attached to any registrations currently in place.

Payments or receipts which are contingent on the performance of the team or players are not recognised until the events crystallising such payments or receipts have taken place.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

The Albion Rovers Football Club, Ltd. (Registered number: SC010466)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2022
and 30 June 2023 1,000,000 177,845 1,177,845
DEPRECIATION
At 1 July 2022 45,000 135,580 180,580
Charge for year 5,625 5,402 11,027
At 30 June 2023 50,625 140,982 191,607
NET BOOK VALUE
At 30 June 2023 949,375 36,863 986,238
At 30 June 2022 955,000 42,265 997,265

Included in cost or valuation of land and buildings is freehold land of £ 250,000 (2022 - £ 250,000 ) which is not depreciated.

Cost or valuation at 30 June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1990 342,430 - 342,430
Valuation in 2006 758,230 - 758,230
Valuation in 2014 (117,000 ) - (117,000 )
Cost 16,340 177,845 194,185
1,000,000 177,845 1,177,845

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 16,340 16,340
Aggregate depreciation 827 735

Land was valued on an open market basis on 1 October 2014 by DM Hall, Chartered Surveyors .


The Albion Rovers Football Club, Ltd. (Registered number: SC010466)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 720 9,240
Other debtors 4,226 4,243
4,946 13,483

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,939 -
Trade creditors 5,429 1,467
Taxation and social security 6,392 8,868
Other creditors 10,692 16,413
25,452 26,748

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 48,681 51,071

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

The Report of the Auditors was unqualified.

Robert Pollock BA CA (Senior Statutory Auditor)
for and on behalf of Sharles Audit Limited

10. CONTINGENT LIABILITIES

There is a contingent liability to North Lanarkshire Council for the sum of £22,480. Payment of this amount is contingent on the sale of Cliftonhill Stadium. This relates to the cost of geological work carried out by North Lanarkshire Council.

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.