REGISTERED NUMBER: |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
REGISTERED NUMBER: |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
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 |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
Highland House |
Mayflower Close |
Chandler's Ford |
Eastleigh |
Hampshire |
SO53 4AR |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
BALANCE SHEET |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
RESERVES |
Non-distributable reserve |
Income and expenditure account |
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 |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Hampshire Football Association Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. |
The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view. |
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 £1. |
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
Preparation of consolidated financial statements |
The financial statements contain information about Hampshire Football Association Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents the amounts receivable in the course of running the affairs of the company, exclusive of value added tax. |
Turnover is attributable to one continuing activity, that of the promotion and administration of the game of association football in the County of Hampshire. Turnover is wholly within the United Kingdom. |
Tangible fixed assets |
Short leasehold | - 60 years straight line, calculated monthly |
Solar panels | - 25 years straight line, calculated monthly |
Plant and machinery | - 25% straight line, calculated monthly |
Office furniture and fittings | - 25% straight line, calculated monthly |
Office equipment | - 25% straight line, calculated monthly |
Computer equipment | - 25% straight line, calculated monthly |
Motor Vehicles | - 25% straight line, calculated monthly |
Trophies and memorabilia are revalued every 3-5 years and the latest valuation has been included in these financial statements. Accordingly, trophies and memorabilia are not depreciated. |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
2. | ACCOUNTING POLICIES - continued |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial assets |
Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Financial liabilities |
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Equity instruments |
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue 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. |
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. |
Pension contributions |
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the income and expenditure account. |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
2. | ACCOUNTING POLICIES - continued |
Government grants |
The following government grants have been received during the year: |
- FA Grants: the accrual method has been used to the recognise the grants on a systematic basis over the period for which the funding is provided. |
- Business Support Grant Funds: the accrual model has been used to recognise the grant when it is received or becomes receivable, as there are no future related costs or performance conditions. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Trophies |
Short | and | Plant and |
leasehold | memorabilia | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2022 |
Additions |
Revaluations |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2022 |
Additions |
Revaluations |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Trophies and memorabilia were last revalued for insurance purposes on 27 June 2023 by Wessex Valuations. |
Cost or valuation at 30 June 2023 is represented by: |
Trophies |
Short | and | Plant and |
leasehold | memorabilia | machinery |
£ | £ | £ |
Valuation in 2012 | - | 117,412 | - |
Valuation in 2015 | - | 17,575 | - |
Valuation in 2020 | - | 40,128 | - |
Valuation in 2023 | - | 35,638 | - |
Cost | 905,270 | 55,910 | 64,522 |
905,270 | 266,663 | 64,522 |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Valuation in 2012 | - | - | 117,412 |
Valuation in 2015 | - | - | 17,575 |
Valuation in 2020 | - | - | 40,128 |
Valuation in 2023 | - | - | 35,638 |
Cost | 77,172 | 81,340 | 1,184,214 |
77,172 | 81,340 | 1,394,967 |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years |
by instalments | 16,521 | 26,202 |
16,521 | 26,202 |
HAMPSHIRE FOOTBALL ASSOCIATION LIMITED (REGISTERED NUMBER: 03975817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
9. | LEASING AGREEMENTS |
At the balance sheet date the company had future commitments under operating leases totalling £28,963 (2022: £28,546). |
In addition to the above the company has entered into a management agreement which is inextricably linked to the lease of a premises. The management agreement runs until 2028 at a cost of £25,000 per annum. |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loan | 139,944 | 170,918 |
The above represents two bank loans, secured over the leasehold property and by way of debenture. |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | LIMITED BY GUARANTEE |
The company is limited by guarantee and does not have a share capital. Each of the members of the company agrees, in the event of the company being wound up, to contribute to any deficiency in assets a sum not exceeding £10. |