Company registration number 12658254 (England and Wales)
EAST GRINSTEAD TOWN FC TRADING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
EAST GRINSTEAD TOWN FC TRADING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
EAST GRINSTEAD TOWN FC TRADING LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
1,949
1,568
Debtors
3
-
0
14
Cash at bank and in hand
3,309
20,934
5,258
22,516
Creditors: amounts falling due within one year
4
(5,255)
(22,513)
Net current assets
3
3
Capital and reserves
-
-
Called up share capital
3
3

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mr R Tramontin
Director
Company registration number 12658254 (England and Wales)
EAST GRINSTEAD TOWN FC TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

East Grinstead Town FC Trading Ltd is a private company limited by shares incorporated in England and Wales. The registered office is East Court, College Lane, East Grinstead, West Sussex, RH19 3LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 FRS 102 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises finished goods.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs.

EAST GRINSTEAD TOWN FC TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Leases

Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
14
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
3,996
21,475
Other creditors
1,259
1,038
5,255
22,513
5
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

  1. The company has an agreement to pay royalties of 5% of its turnover to East Grinstead Town Football Club. During the period £3,040 was paid.

  2. The company has an agreement to pay rent of £1,200 per month (including non-recoverable VAT) to East Grinstead Town Football Club. During the period £14,400 was paid.

  3. (c) The company paid East Grinstead Town Football Club for utilities and other property running costs, based on usage. During the period £4,032 was paid.

  4. (d) All of the company's profits are to be donated to the parent East Grinstead Town Football Club in accordance with the company's Objects. The liability to East Grinstead Town Football Club at 31 May 2024 was £3,996 after having already made an interim payment of £17,500 in May 2024.

EAST GRINSTEAD TOWN FC TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
6
Parent company

The company is controlled by East Grinstead Town Football Club, a registered Community Amateur Sports Club.

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