REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Connahs Quay Nomads FC Ltd |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Military House |
24 Castle Street |
Chester |
Cheshire |
CH1 2DS |
BANKERS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land and buildings | - |
Plant and machinery etc | - |
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 |
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 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 71,041 | 2,185 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans |
Amounts owed to participating interests | 1,129,455 | 923,912 |
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 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
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. |
for and on behalf of |
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. |