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COMPANY REGISTRATION NUMBER: 13899556
Selby Town Football Club Limited
Filleted Unaudited Financial Statements
Period from 8 February 2022 to
27 February 2023
Selby Town Football Club Limited
Statement of Financial Position
27 February 2023
27 Feb 23
Note
£
£
Current assets
Cash at bank and in hand
422
Creditors: amounts falling due within one year
4
12,934
--------
Net current liabilities
12,512
--------
Total assets less current liabilities
( 12,512)
--------
Capital and reserves
Called up share capital
100
Profit and loss account
( 12,612)
--------
Shareholders deficit
( 12,512)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 27 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 January 2024 , and are signed on behalf of the board by:
Mr S McGarrity
Director
Company registration number: 13899556
Selby Town Football Club Limited
Notes to the Financial Statements
Period from 8 February 2022 to 27 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is STFC, Selby Town Football Club, Richard Street, Selby, YO8 4BN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the director has considered the effect of these matters on the company with the information available to it, and does not believe that it it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the director has prepared these financial statements on a going concern basis. In addition to the above the financial statements show a loss for the year of £12,612. The Company has net liabilities at the Balance Sheet date of £12,512. The director has confirmed that he is willing to support the company for the foreseeable future. Therefore the going concern basis is applicable.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered. Revenue from the sale of goods is recognised on the date when the company's products are sold to customers.
(d) Current and deferred tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Financial instruments
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 entity after deducting all of its financial liabilities.
4. Creditors: amounts falling due within one year
27 Feb 23
£
Trade creditors
375
Director loan accounts
6,132
Other creditors
6,427
--------
12,934
--------
5. Related party transactions
During the year the director made a loan available to the company. The balance owing to the director at 27 February 2023 was £ 6,132 . This loan was interest free.