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REGISTERED NUMBER: 02414884 (England and Wales)










Financial Statements

for the Year Ended 31 December 2023

for

Connahs Quay Nomads FC Ltd

Connahs Quay Nomads FC Ltd (Registered number: 02414884)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Connahs Quay Nomads FC Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G P Dewhurst



REGISTERED OFFICE: Aldford House
Park Lane
Bell Meadow Business Park
Chester
Cheshire
CH4 9EP



REGISTERED NUMBER: 02414884 (England and Wales)



AUDITORS: Haines Watts, Statutory Auditor
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS



BANKERS: Barclays Bank PLC
Flint Business Centre
21 Church Street
Flint
Flintshire
CH6 5AJ

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 16,847 31,193

CURRENT ASSETS
Debtors 5 79,240 21,459
Cash at bank and in hand 29,205 65,002
108,445 86,461
CREDITORS
Amounts falling due within one year 6 288,693 120,031
NET CURRENT LIABILITIES (180,248 ) (33,570 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(163,401

)

(2,377

)

CREDITORS
Amounts falling due after more than one
year

7

1,140,326

957,280
NET LIABILITIES (1,303,727 ) (959,657 )

CAPITAL AND RESERVES
Called up share capital 9 260,000 260,000
Retained earnings (1,563,727 ) (1,219,657 )
SHAREHOLDERS' FUNDS (1,303,727 ) (959,657 )

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





G P Dewhurst - Director


Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Connahs Quay Nomads FC Ltd 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. ACCOUNTING POLICIES

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

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, together with the proceeds of competition winnings.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - over 5 years

Going concern
The financial statements for the year ended 31 December 2023 have resulted in a loss and the balance sheet shows net current assets with a deficit in shareholders funds.

The company is dependent on the ongoing support of G P Dewhurst, the ultimate controlling shareholder of the company, as detailed in the related party transactions note 10 of the financial statements.

The club continues to be reliant on substantial revenue from its participation in European football.
G P Dewhurst has given written guarantees that he will honour all liabilities to external creditors of the company.

G P Dewhurst has confirmed that he will give sufficient ongoing support to the company to enable it to continue in operational existence until at least 30 June 2025.

Accordingly the accounts have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 28 ) .

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 138,570 85,589 224,159
DEPRECIATION
At 1 January 2023 107,866 85,100 192,966
Charge for year 13,857 489 14,346
At 31 December 2023 121,723 85,589 207,312
NET BOOK VALUE
At 31 December 2023 16,847 - 16,847
At 31 December 2022 30,704 489 31,193

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 5,136 3,870
Amounts owed by participating interests 71,041 2,185
Other debtors 3,063 15,404
79,240 21,459

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 56,505 42,972
Trade creditors 40,932 42,300
Taxation and social security 2,177 7,701
Other creditors 189,079 27,058
288,693 120,031

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 10,871 33,368
Amounts owed to participating interests 1,129,455 923,912
1,140,326 957,280

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 44,796 42,972

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10,000 Ordinary £1 10,000 10,000
250,000 Preference £1 250,000 250,000
260,000 260,000

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

The Report of the Auditors was unqualified.

Michael Forshaw FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

11. RELATED PARTY DISCLOSURES

G P Dewhurst, a director and controlling party, is the ultimate controlling party of a number of other companies.

During the year the football club received loans from GP Dewhurst and companies which he controls of £270,799 (£33,793 - 2022). The balances due at the year end were £1,129,445 (£589,798 - 2022). The loans from G P Dewhurst and 2 of the companies are interest free. The loan of £112,500 from the third company bears a 5% interest rate. The loans are with no fixed date for repayment, but repayment will be no earlier than 30 June 2025.