Company Registration No. 05975461 (England and Wales)
The Football Paper Ltd
Unaudited accounts
for the year ended 29 March 2023
The Football Paper Ltd
Unaudited accounts
Contents
The Football Paper Ltd
Company Information
for the year ended 29 March 2023
Directors
Mrs S Hurse
Mr M D Emery
Mr S J Emery
Company Number
05975461 (England and Wales)
Registered Office
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
United Kingdom
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
The Football Paper Ltd
Statement of financial position
as at 29 March 2023
Tangible assets
3,879
5,181
Debtors
1,130,449
1,162,185
Cash at bank and in hand
1,434
18,520
Creditors: amounts falling due within one year
(464,971)
(438,167)
Net current assets
666,912
742,538
Total assets less current liabilities
670,791
747,719
Creditors: amounts falling due after more than one year
(30,722)
(38,889)
Net assets
640,069
708,830
Called up share capital
1
1
Profit and loss account
640,068
708,829
Shareholders' funds
640,069
708,830
For the year ending 29 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by
Mr S J Emery
Director
Company Registration No. 05975461
The Football Paper Ltd
Notes to the Accounts
for the year ended 29 March 2023
The Football Paper Ltd is a private company, limited by shares, registered in England and Wales, registration number 05975461. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ, United Kingdom.
2
Compliance with accounting standards
These financial statements were prepared in accordance with FRS 102 Section 1A Small Entities. There were no material departures from the standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, 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.
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets are stated in the statement of financial position 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
Fixtures & fittings
20% Straight line
Computer equipment
20% 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.
The Football Paper Ltd
Notes to the Accounts
for the year ended 29 March 2023
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Computer equipment
The Football Paper Ltd
Notes to the Accounts
for the year ended 29 March 2023
Amounts falling due within one year
Trade debtors
172,451
177,991
Accrued income and prepayments
4,020
12,350
Other debtors
953,978
971,844
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
22,904
8,333
Trade creditors
3,486
226,024
Taxes and social security
96,266
105,383
Other creditors
326,182
95,602
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Operating lease commitments
2023
2022
At 29 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
52,205
52,205
Later than one year and not later than five years
16,520
68,725
At the year end, the director owed the Company £178,137 (2022 - £168,383). This balance is attracting interest at the official HMRC rate and is repayable on demand.
11
Average number of employees
During the year the average number of employees was 14 (2022: 16).