Registration number:
Kingdom Football Management Limited
for the Year Ended 30 September 2023
Kingdom Football Management Limited
(Registration number: NI640623)
Balance Sheet as at 30 September 2023
Note |
2023 |
2022 |
|
Current assets |
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Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
200 |
200 |
|
Share premium reserve |
149,930 |
149,930 |
|
Retained earnings |
(197,753) |
(197,645) |
|
Shareholders' deficit |
(47,623) |
(47,515) |
For the financial year ending 30 September 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Kingdom Football Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
Despite the fact that the liabilities exceed the assets, the accounts have been prepared on the going concern basis.
Included in other creditors are significant amounts due to the shareholders (Tobermore Holdings Limited and Vision Asset Finance Limited) and to Vision Heat Solutions Limited, a company of which Trevor Finlay is a shareholder. All these companies have undertaken that the amounts will not be demanded in the immediate future and this will enable the company to trade as a going concern.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.Turnover is shown net of sales/value added tax, rebates and discounts.
The Company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity; and
specific criteria have been met for each of the Company’s activities.
Kingdom Football Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33.33% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Kingdom Football Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
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At 1 October 2022 |
|
|
At 30 September 2023 |
|
|
Depreciation |
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At 1 October 2022 |
|
|
At 30 September 2023 |
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|
Carrying amount |
||
At 30 September 2023 |
- |
- |
Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Trade creditors |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
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Kingdom Football Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
200 |
|
200 |
Related party transactions |
The following balance was owed from the directors at the year end:
2023 |
2022 |
|
Directors current account |
100 |
100 |
Other related party transactions
The following balances were owed to shareholders at the year end:
2023 |
2022 |
||
£ |
£ |
||
Tobermore Concrete Products Limited |
25,000 |
25,000 |
|
Vision Asset Finance Limited |
1,989 |
1,989 |