Devon County Football Association Limited 03870335 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to promote, foster, develop and support the game of Association Football. Digita Accounts Production Advanced 6.30.9574.0 true true 03870335 2023-01-01 2023-12-31 03870335 2023-12-31 03870335 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-12-31 03870335 core:CurrentFinancialInstruments 2023-12-31 03870335 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03870335 core:FurnitureFittings 2023-12-31 03870335 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 03870335 core:PlantMachinery 2023-12-31 03870335 bus:SmallEntities 2023-01-01 2023-12-31 03870335 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03870335 bus:FilletedAccounts 2023-01-01 2023-12-31 03870335 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03870335 bus:RegisteredOffice 2023-01-01 2023-12-31 03870335 bus:Director5 2023-01-01 2023-12-31 03870335 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 03870335 core:FurnitureFittings 2023-01-01 2023-12-31 03870335 core:LandBuildings 2023-01-01 2023-12-31 03870335 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 03870335 core:PlantMachinery 2023-01-01 2023-12-31 03870335 countries:EnglandWales 2023-01-01 2023-12-31 03870335 2022-12-31 03870335 core:FurnitureFittings 2022-12-31 03870335 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 03870335 core:PlantMachinery 2022-12-31 03870335 2022-01-01 2022-12-31 03870335 2022-12-31 03870335 core:CurrentFinancialInstruments 2022-12-31 03870335 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03870335 core:FurnitureFittings 2022-12-31 03870335 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 03870335 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03870335

Devon County Football Association Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Devon County Football Association Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Devon County Football Association Limited

(Registration number: 03870335)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,253,448

1,283,820

Other financial assets

5

1

1

 

1,253,449

1,283,821

Current assets

 

Debtors

6

249,574

255,431

Cash at bank and in hand

 

634,753

599,984

 

884,327

855,415

Creditors: Amounts falling due within one year

7

(130,283)

(137,413)

Net current assets

 

754,044

718,002

Total assets less current liabilities

 

2,007,493

2,001,823

Provisions for liabilities

(734,906)

(765,953)

Net assets

 

1,272,587

1,235,870

Reserves

 

Other reserves

192,930

155,255

Profit and loss account

1,079,657

1,080,615

Surplus

 

1,272,587

1,235,870

For the financial year ending 31 December 2023 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 23 May 2024 and signed on its behalf by:
 

 

Devon County Football Association Limited

(Registration number: 03870335)
Statement of Financial Position as at 31 December 2023 (continued)


Mr J D Street
Director

 

Devon County Football Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.

The address of its registered office is:
County Headquarters
Coach Road
Newton Abbot
Devon
TQ12 1EJ

Principal activity

The principal activity of the company is to promote, foster, develop and support the game of Association Football.

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 County Football Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (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.

Tax

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

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:

Asset class

Depreciation method and rate

Long leasehold property

over 80 years

Plant and machinery

25% straight line

Fixtures and fittings

10% reducing balance

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.

 

Devon County Football Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 22 (2022 - 22).

 

Devon County Football Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

1,307,576

176,425

15,740

1,499,741

Disposals

-

-

(3,311)

(3,311)

At 31 December 2023

1,307,576

176,425

12,429

1,496,430

Depreciation

At 1 January 2023

114,303

93,193

8,425

215,921

Charge for the year

18,941

8,323

3,108

30,372

Eliminated on disposal

-

-

(3,311)

(3,311)

At 31 December 2023

133,244

101,516

8,222

242,982

Carrying amount

At 31 December 2023

1,174,332

74,909

4,207

1,253,448

At 31 December 2022

1,193,273

83,232

7,315

1,283,820

Included within the net book value of land and buildings above is £1,174,332 (2022 - £1,193,273) in respect of long leasehold land and buildings.
 

 

Devon County Football Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

1

1

At 31 December 2023

1

1

Impairment

Carrying amount

At 31 December 2023

1

1

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

64,028

79,073

Amounts owed by related parties

174,152

170,789

Prepayments

 

5,325

5,569

Accrued income

 

6,069

-

 

249,574

255,431

 

Devon County Football Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

10,951

13,135

Taxation and social security

18,789

27,320

Accruals and deferred income

97,930

94,312

Other creditors

2,613

2,646

130,283

137,413

8

Reserves

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

Other reserves comprises two funds:

The benevolent fund records retained funds set aside for charitable purposes.
The balance at 31 December 2023 was £100,930 (2022 - £95,255). The movement during the year was net income of £5,675.

The sinking fund records retained earnings set aside for the replacement of the cover of the 3G pitch every ten years.
The balance at 31 December 2023 was £92,000 (2022 - £60,000). The movement during the year was a transfer from the profit and loss account of £32,000.