Registered number
12282928
BURY FOOTBALL CLUB (2019) LTD
Filleted Accounts
30 June 2023
BURY FOOTBALL CLUB (2019) LTD
Independent auditor's report
to the members of BURY FOOTBALL CLUB (2019) LTD
Opinion
We have audited the accounts of BURY FOOTBALL CLUB (2019) LTD (the 'company') for the year ended 30 June 2023 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and notes to the accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information n the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Directors has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption from the requirement to prepare a Strategic Report.
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Extent to which the audit was capable of detecting irregularities, including fraud.
The primary responsibility for the prevention and detection of fraud rests with directors and management,
and we cannot be expected to detect non-compliance with all laws and regulations.
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the
financial statements from our knowledge of the business and sector, enquiries of directors and management, and
review of regulatory information and correspondence. We communicated identified laws and regulations throughout
the audit team and remained alert to any indications of non-compliance throughout the audit.
We discussed with directors and management the policies and procedures in place to ensure compliance with laws
and regulations and otherwise prevent, deter and detect fraud.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations identified as potentially having a material effect on the financial statements.Our procedures included
review of financial statement information and testing of that information, enquiry of management and examination
of relevant documentation, analytical procedures to identify unusual or unexpected relationships that may indicate
fraud, and procedures to address the risk of fraud through director or management override of controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org/auditorsresponsibilities. This description forms part of our Report of the Auditors.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Diccon Thornely
(Senior Statutory Auditor) 605 Albert House
for and on behalf of 256-260 Old Street
Sedulo Audit Limited London
Statutory Auditors
7 March 2024 EC1V 9DD
BURY FOOTBALL CLUB (2019) LTD
Registered number: 12282928
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 7,880 5,962
Current assets
Stocks 3,480 1,480
Debtors 5 31,099 24,157
Cash at bank and in hand 60,601 9,346
95,180 34,983
Creditors: amounts falling due within one year 6 (94,061) (41,232)
Net current assets/(liabilities) 1,119 (6,249)
Net assets/(liabilities) 8,999 (287)
Capital and reserves
Called up share capital 75,000 25,000
Profit and loss account (66,001) (25,287)
Shareholders' funds 8,999 (287)
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.
The notes on pages 8 to 13 form part of these financial statements.
Mr M Howarth
Director
Approved by the board on 7 March 2024
BURY FOOTBALL CLUB (2019) LTD
Notes to the Accounts
for the year ended 30 June 2023
1 Statutory information
BURY FOOTBALL CLUB (2019) LTD is a private company limited by shares and incorporated in England. Its registered office is:
Gigg Lane
Bury
Lancs
BL9 9HR
2 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), and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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.
Going concern
At the time of signing these accounts, having considered the economic climate, the Directors
expectations and intentions for the next twelve months,and the availability of working capital, the
Directors are of the opinion that the Company will remain viable for the forseeable future and
therefore these Financial Statements have been prepared on the Going Concern basis.
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, tools and equipment over 5 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 26 26
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 7,781
Additions 3,524
At 30 June 2023 11,305
Depreciation
At 1 July 2022 1,819
Charge for the year 1,606
At 30 June 2023 3,425
Net book value
At 30 June 2023 7,880
At 30 June 2022 5,962
5 Debtors 2023 2022
£ £
Trade debtors 14,100 6,000
Loan - Bury AFC Community Trust 5,000 5,000
VAT 881 -
Other debtors 11,118 13,157
31,099 24,157
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 17,478 391
Amounts owed to group undertakings 20,000 -
Taxation and social security costs 509 1,884
Other creditors 56,074 38,957
94,061 41,232
7 Share Capital Issue
During the year 50,000 ordinary £1 shares were issued to Shakers Community Society Ltd at par value and rank pari passu with other shares already issued.
8 Events after the reporting date
Following agreement by both groups of members of the two societies, on 21st June 2023 Shakers Community Society Limited and Bury Football Supporters' Society Limited amalgamated to form Football Supporters' Society of Bury Limited.
On the 1st July 2023 the shares held in Bury Football Club (2019) Limited were transferred to Football Supporters' Society of Bury Limited from Shakers Community Society Limited.
9 Related party transactions
During the year the company received a donation which was due to The Bury Football Club Company Limited, a company which has common ownership. A balance of £20,000 was owed to The Bury Football Club Company Limited at 30 June 2023.
10 Controlling party
The company is controlled by the Shakers Community Society Ltd a company incorporated in England and Wales by way of it owning all of the issued share capital. Its registered office is:
Gigg Lane
Bury
Lancs
BL9 9HR
The Board consider that the preparation of consolidated group accounts is inappropriate as the business of the company and its holding company are so different that they cannot reasonably be treated as a single undertaking.
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