Registered number
14185077
Southam United FC Limited
Filleted Accounts
30 June 2023
Southam United FC Limited
Registered number: 14185077
Balance Sheet
as at 30 June 2023
Notes 2023
£
Fixed assets
Tangible assets 3 13,360
Current assets
Stocks 500
Cash at bank and in hand 499
999
Creditors: amounts falling due within one year 4 (17,139)
Net current liabilities (16,140)
Net liabilities (2,780)
Capital and reserves
Called up share capital 2
Profit and loss account (2,782)
Shareholders' funds (2,780)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Davis
Director
Approved by the board on 23 April 2024
Southam United FC Limited
Notes to the Accounts
for the period from 21 June 2022 to 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, and equipment 10% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Fixtures, fittings, and equipment
£
Cost
Additions 15,200
At 30 June 2023 15,200
Depreciation
Charge for the period 1,840
At 30 June 2023 1,840
Net book value
At 30 June 2023 13,360
4 Creditors: amounts falling due within one year 2023
£
Other creditors 17,139
5 Events after the reporting date
There have been no known events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
6 Contingent liabilities
There are no known contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
7 Related party transactions
No dividends were paid during the year to the shareholders of the company. As at the year end the company owed £17,139 to Mr M Davis. The loan is interest free with no fixed date for repayment.
8 Controlling party
The company is under the control of Mr M Davis and Miss L Thomas, being director/secretary and joint shareholders of the company.
9 Other information
Southam United FC Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 School Lane
Northampton
Northamptonshire
NN7 2EA
Southam United FC Limited 14185077 false 2022-06-21 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 Mr M Davis No description of principal activity 14185077 2022-06-21 2023-06-30 14185077 bus:PrivateLimitedCompanyLtd 2022-06-21 2023-06-30 14185077 bus:AuditExemptWithAccountantsReport 2022-06-21 2023-06-30 14185077 bus:Director40 2022-06-21 2023-06-30 14185077 1 2022-06-21 2023-06-30 14185077 2 2022-06-21 2023-06-30 14185077 core:PlantMachinery 2022-06-21 2023-06-30 14185077 1 2022-06-21 2023-06-30 14185077 countries:England 2022-06-21 2023-06-30 14185077 bus:FRS102 2022-06-21 2023-06-30 14185077 bus:FullAccounts 2022-06-21 2023-06-30 14185077 2023-06-30 14185077 core:WithinOneYear 2023-06-30 14185077 core:ShareCapital 2023-06-30 14185077 core:RetainedEarningsAccumulatedLosses 2023-06-30 14185077 core:PlantMachinery 2023-06-30 14185077 2022-06-20 iso4217:GBP xbrli:pure