Devon Football League Limited 11988870 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the operation of a football league for 32 football clubs from, or operating in the County of Devon. Digita Accounts Production Advanced 6.30.9574.0 true true 11988870 2023-04-01 2024-03-31 11988870 2024-03-31 11988870 core:CurrentFinancialInstruments 2024-03-31 11988870 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11988870 core:FurnitureFittings 2024-03-31 11988870 bus:SmallEntities 2023-04-01 2024-03-31 11988870 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11988870 bus:FilletedAccounts 2023-04-01 2024-03-31 11988870 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11988870 bus:RegisteredOffice 2023-04-01 2024-03-31 11988870 bus:Director8 2023-04-01 2024-03-31 11988870 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 11988870 core:FurnitureFittings 2023-04-01 2024-03-31 11988870 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11988870 countries:EnglandWales 2023-04-01 2024-03-31 11988870 2023-03-31 11988870 core:FurnitureFittings 2023-03-31 11988870 2022-04-01 2023-03-31 11988870 2023-03-31 11988870 core:CurrentFinancialInstruments 2023-03-31 11988870 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11988870 core:FurnitureFittings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11988870

Devon Football League Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Devon Football League Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Devon Football League Limited

(Registration number: 11988870)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,064

1,450

Current assets

 

Debtors

5

261

252

Cash at bank and in hand

 

20,767

20,824

 

21,028

21,076

Creditors: Amounts falling due within one year

6

(762)

(708)

Net current assets

 

20,266

20,368

Net assets

 

21,330

21,818

Reserves

 

New Clubs Deposits

1,100

1,400

Benevolent Fund

2,880

2,520

Profit and loss account

17,350

17,898

Surplus

 

21,330

21,818

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 19 August 2024 and signed on its behalf by:
 


Mr B D Leach
Director

 

Devon Football League Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. In the event of a winding up of the company each current member or person who ceases to be a member during the previous year may be called upon to contribute any deficiency.

The address of its registered office is:
Petitor House
Nicholson Road
Torquay
Devon
TQ2 7TD

Principal activity

The principal activity of the company is the operation of a football league for 32 football clubs from, or operating in the County of Devon.

2

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Devon Football League Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

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 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.

Football Association grants

Football Association grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Football Association grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Tangible assets

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.

 

Devon Football League Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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

Fixtures and fittings

25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Devon Football League Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

2,797

2,797

Additions

419

419

At 31 March 2024

3,216

3,216

Depreciation

At 1 April 2023

1,347

1,347

Charge for the year

805

805

At 31 March 2024

2,152

2,152

Carrying amount

At 31 March 2024

1,064

1,064

At 31 March 2023

1,450

1,450

5

Debtors

2024
£

2023
£

Prepayments

261

252

261

252

 

Devon Football League Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

762

708

7

Reserves

The profit and loss account records retained earnings and accumulated losses.

The Benevolent Fund records retained funds set aside for charitable purposes.

The New Clubs Deposits Fund represents deposits paid by new clubs admitted to the league.