PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Company Registration Number:
NI000438 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 1,709,105 1,758,684
Total fixed assets: 1,709,105 1,758,684
Current assets
Stocks: 1,997 997
Debtors:   137,541 151,534
Cash at bank and in hand: 5,458 1,532
Total current assets: 144,996 154,063
Creditors: amounts falling due within one year:   (70,099) (85,441)
Net current assets (liabilities): 74,897 68,622
Total assets less current liabilities: 1,784,002 1,827,306
Creditors: amounts falling due after more than one year:   (759,216) (806,238)
Total net assets (liabilities): 1,024,786 1,021,068
Capital and reserves
Called up share capital: 9,750 9,750
Share premium account: 2,625 2,625
Revaluation reserve:4(108,532)(108,532)
Profit and loss account: 1,120,943 1,117,225
Shareholders funds: 1,024,786 1,021,068

The notes form part of these financial statements

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 March 2024
and signed on behalf of the board by:

Name: Paul Jackson
Status: Director

The notes form part of these financial statements

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is stated net of trade discounts, volume rebates, VAT and similar taxes and derives from the provision of goods and services falling within the company's ordinary activities. Turnover on sale of goods is recognised when the company has transferred the significant risks and rewards of ownership in the goods, which usually takes place when the goods are physically delivered to the buyer. Turnover on supply of services is recognised by reference to the stage of completion of the service at the end of the financial year. The stage of completion is determined primarily on the basis of time costs applied to individual service assignments. Deposits received from customers in advance of completion of sales of goods or in advance of the stage of completion of services at the end of the financial year are not recognised as income and are included in creditors.

Tangible fixed assets and depreciation policy

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset systematically over its expected useful life, as follows: Freehold Property - 4% straight line Plant and Machinery - 10% reducing balance Fixtures and Fittings - 10% reducing balance Motor Vehicles - 10% reducing balance The residual value and useful lives of tangible assets are considered annually for indicators that these may have changed. Where such indicators are present, a review will be carried out of the residual value depreciation method and useful lives, and these will be amended if necessary. Changes in depreciation rates arising from this review are accounted for prospectively over the remaining useful lives of the assets.

Other accounting policies

Government grants Grants are recognised at fair value of the asset receivable using the accruals model when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. Grants towards capital expenditure are credited to deferred income and are released to the profit and loss account over the expected useful life of the related assets, by equal annual instalments. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 31 35

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 1,961,966
Additions 8,774
At 31 December 2023 1,970,740
Depreciation
At 01 January 2023 203,282
Charge for year 58,353
At 31 December 2023 261,635
Net book value
At 31 December 2023 1,709,105
At 31 December 2022 1,758,684

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Revaluation reserve

2023
£
Balance at 01 January 2023 (108,532)
Surplus or deficit after revaluation 0
Balance at 31 December 2023 (108,532)

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Financial commitments

At the financial year-end date, the company had no financial commitments that were not included in the Balance Sheet.

PORTADOWN FOOTBALL AND ATHLETIC COMPANY, LIMITED - THE

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Post balance sheet events

There were no events after the end of the financial year which required disclosure in the financial statements.