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REGISTERED NUMBER: 03830562 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED

NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED (REGISTERED NUMBER: 03830562)






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


NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: P Ballard
M Banham
J Turner
J Conway
P Marshall
M Wells
A C Judd
K J Hirst
O Amadasun
S P Annison
M J Carpenter





REGISTERED OFFICE: theFDC
Clover Hill Road
Norwich
Norfolk
NR5 9ED





REGISTERED NUMBER: 03830562 (England and Wales)





AUDITORS: Sexty & Co
Chartered Certified Accountants
& Statutory Auditor
124 Thorpe Road
Norwich
Norfolk
NR1 1RS

NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED (REGISTERED NUMBER: 03830562)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,886,029 1,895,617
Investments 6 1,013 1,013
1,887,042 1,896,630

CURRENT ASSETS
Stocks 5,709 4,101
Debtors 7 88,635 50,035
Cash at bank and in hand 714,965 743,136
809,309 797,272
CREDITORS
Amounts falling due within one year 8 1,321,750 1,298,936
NET CURRENT LIABILITIES (512,441 ) (501,664 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,374,601

1,394,966

RESERVES
Income and expenditure account 1,374,601 1,394,966
1,374,601 1,394,966

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 Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





M J Carpenter - Director


NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED (REGISTERED NUMBER: 03830562)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Norfolk County Football Association Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are presented in pounds sterling and are rounded to the nearest pound.

Turnover
Turnover represents net invoiced sales of services (excluding value added tax) and revenue grants received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life
Long leaseholdOver the lease term or shorter
FDC Pitches-10% on cost
Fixtures and fittings-25%, 20%, 10% & 5% on cost
Motor vehicles-25% on costs
Computer equipment-25% on costs


The directors perform an annual impairment review of freehold property and long leasehold property to ensure that the recoverable amount is not lower than the carrying value. They consider that there has been no impairment during the year.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED (REGISTERED NUMBER: 03830562)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

3. ACCOUNTING POLICIES - continued

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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

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.

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.


NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED (REGISTERED NUMBER: 03830562)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a workplace pension scheme in line with auto-enrolment. Contributions payable for the year are charged in the profit and loss account.

Grants received
Grants relating to assets are recognised in the income statement on a systematic basis over the expected useful life of the asset.

Contributions to revenue expenditure are recognised in the profit and loss account in the period to which they relate.


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 29 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 1,790,693 388,023 2,178,716
Additions 66,335 53,715 120,050
Disposals - (11,794 ) (11,794 )
At 30 June 2023 1,857,028 429,944 2,286,972
DEPRECIATION
At 1 July 2022 149,094 134,005 283,099
Charge for year 72,417 50,406 122,823
Eliminated on disposal - (4,979 ) (4,979 )
At 30 June 2023 221,511 179,432 400,943
NET BOOK VALUE
At 30 June 2023 1,635,517 250,512 1,886,029
At 30 June 2022 1,641,599 254,018 1,895,617

NORFOLK COUNTY FOOTBALL ASSOCIATION
LIMITED (REGISTERED NUMBER: 03830562)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 1,013
NET BOOK VALUE
At 30 June 2023 1,013
At 30 June 2022 1,013

The directors consider the market value of fixed asset investments not to be materially different from their original cost and therefore appropriate to disclose as such.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,933 32,962
Other debtors 3,770 1,268
Prepayments and accrued income 15,932 15,805
88,635 50,035

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 27,905 126,288
Taxation and social security 34,163 20,639
Other creditors 1,259,682 1,152,009
1,321,750 1,298,936

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 7,067 7,067
Between one and five years 7,067 14,135
14,134 21,202

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

The Report of the Auditors was unqualified.

I A Barlow (Senior Statutory Auditor)
for and on behalf of Sexty & Co

11. RELATED PARTY DISCLOSURES

There were no business relationships or related party transactions during the year.