REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
WIMBORNE TOWN FOOTBALL CLUB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
WIMBORNE TOWN FOOTBALL CLUB LIMITED |
WIMBORNE TOWN FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03640938) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 2 |
WIMBORNE TOWN FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03640938) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WIMBORNE TOWN FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03640938) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | Statutory information |
Wimborne Town Football Club Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03640938. The registered office and business address is The Wyatt Homes Stadium, 16 Ainsley Road, Wimborne, Dorset, BH21 2FU. |
2. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The Company has made a profit of £35,747 during the year and has a deficiency of assets at the year end of £93,483. The company is dependant upon the continued support of its shareholders, who give assurances that they will assist with the company's working capital requirements over the next twelve months if necessary. |
Preparation of consolidated financial statements |
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
Turnover |
Turnover represents sales, including gate receipts, and sponsorship income from the running of a football club, net of VAT. This includes associated income from events, facilities hire, bar and catering. In addition, income is generated from providing football coaching and the provision of youth football, recognised in the financial statements when the coaching is performed. |
Goodwill |
Goodwill was purchased in 2000 for a nominal £1 and therefore is not amortised. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Improvements to property | - |
3G Pitch | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stock and Work In Progress are valued at the lower of cost and net realisable value. |
WIMBORNE TOWN FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03640938) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 June 2023 |
and 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
WIMBORNE TOWN FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03640938) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
5. | Tangible fixed assets |
Improvements | Fixtures |
to | and |
property | 3G Pitch | fittings |
£ | £ | £ |
Cost |
At 1 June 2023 |
Additions |
At 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1 June 2023 |
Additions |
At 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments |
WIMBORNE TOWN FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03640938) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other loans |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Pension | 276 | 394 |
VAT | 24,846 | 10,860 |
Other creditors |
Credit card | 3,452 | 2,090 |
Accruals and deferred income |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100,000 | 100,000 |
9. | Ultimate controlling party |
The company is controlled by Parmiter Holdings Ltd, a non-trading company registered in England & Wales, by virtue of its 100% ownership of the issued share capital. The company number is 07685240 and its registered office address is 7&8 Church Street, Wimborne, Dorset, BH21 1JH. |
The ultimate controlling party is Mr Martin Higgins. |