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Registered number: 14588720
STFC (23) Ltd
Financial Statements
For the Period 12 January 2023 to 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14588720
30 June 2024
Notes £ £
FIXED ASSETS
Intangible Assets 4 111,584
Tangible Assets 5 2,414
113,998
CURRENT ASSETS
Stocks 6 13,866
Debtors 7 39,905
Cash at bank and in hand 18,587
72,358
Creditors: Amounts Falling Due Within One Year 8 (151,849 )
NET CURRENT ASSETS (LIABILITIES) (79,491 )
TOTAL ASSETS LESS CURRENT LIABILITIES 34,507
Creditors: Amounts Falling Due After More Than One Year 9 (79,995 )
NET LIABILITIES (45,488 )
CAPITAL AND RESERVES
Called up share capital 10 100
Profit and Loss Account (45,588 )
SHAREHOLDERS' FUNDS (45,488)
Page 1
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For the period ending 30 June 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Smith
Director
10 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
STFC (23) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14588720 . The registered office is 32 High Street, Wendover, Bucks, HP22 6EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
In the year the company took control of Slough Town Football Club with considerable investment,  which has seen the company record a loss.  
With healthy day to day working capital through trading activities,  opportunities to grow revenue through Arbour Park Stadium and the longer term financial support from the shareholders, the directors have prepared the accounts on the going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings over five years
Computer Equipment over three years
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 17
17
4. Intangible Assets
Goodwill
£
Cost
As at 12 January 2023 111,584
As at 30 June 2024 111,584
Net Book Value
As at 30 June 2024 111,584
As at 12 January 2023 111,584
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 12 January 2023 - - -
Additions 2,536 578 3,114
As at 30 June 2024 2,536 578 3,114
Depreciation
As at 12 January 2023 - - -
Provided during the period 507 193 700
As at 30 June 2024 507 193 700
Net Book Value
As at 30 June 2024 2,029 385 2,414
As at 12 January 2023 - - -
6. Stocks
30 June 2024
£
Stock 13,866
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7. Debtors
30 June 2024
£
Due within one year
Trade debtors 25,060
Other debtors 14,845
39,905
8. Creditors: Amounts Falling Due Within One Year
30 June 2024
£
Trade creditors 35,074
Other creditors 106,414
Taxation and social security 10,361
151,849
Included in other creditors is £66,916 of income received in advance of the 2024/25 football season.
9. Creditors: Amounts Falling Due After More Than One Year
30 June 2024
£
Other creditors 79,995
10. Share Capital
30 June 2024
£
Allotted, Called up and fully paid 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
30 June 2024
£
Not later than one year 5,000
Later than one year and not later than five years 20,000
Later than five years 25,000
50,000
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In June 2024 the company entered into a 50 year lease with Slough Borough Council for the Arbor Park Stadium.
12. Related Party Transactions
Included in creditors due in more than one year is £79,995 due to the ultimate parent undertaking.
13. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is A23 Football Group Ltd . A23 Football Group Ltd was incorporated in England & Wales. The ultimate controlling party is Mr A Smith by virtue of his shareholding in STFC (23) Ltd .
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