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REGISTERED NUMBER: 03640938 (England and Wales)











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 1 1
Tangible assets 5 389,852 435,559
389,853 435,560

Current assets
Stocks 3,500 3,500
Debtors 6 23,516 6,714
Cash at bank and in hand 14,281 18,790
41,297 29,004
Creditors
Amounts falling due within one year 7 524,633 593,794
Net current liabilities (483,336 ) (564,790 )
Total assets less current liabilities (93,483 ) (129,230 )

Capital and reserves
Called up share capital 8 100,000 100,000
Retained earnings (193,483 ) (229,230 )
Shareholders' funds (93,483 ) (129,230 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 12 October 2024 and were signed on its behalf by:





Mr D L Merrifield - Director


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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
3G Pitch - 10% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 47 (2023 - 41 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2023
and 31 May 2024 1
Net book value
At 31 May 2024 1
At 31 May 2023 1

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 33,131 466,019 65,805
Additions 5,306 - 8,233
At 31 May 2024 38,437 466,019 74,038
Depreciation
At 1 June 2023 6,295 93,204 40,497
Charge for year 3,214 46,602 6,862
At 31 May 2024 9,509 139,806 47,359
Net book value
At 31 May 2024 28,928 326,213 26,679
At 31 May 2023 26,836 372,815 25,308

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 June 2023 12,787 7,198 584,940
Additions - 109 13,648
At 31 May 2024 12,787 7,307 598,588
Depreciation
At 1 June 2023 5,594 3,791 149,381
Charge for year 1,798 879 59,355
At 31 May 2024 7,392 4,670 208,736
Net book value
At 31 May 2024 5,395 2,637 389,852
At 31 May 2023 7,193 3,407 435,559

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 21,241 5,222
Amounts owed by group undertakings 734 734
Other debtors 635 -
Prepayments 906 758
23,516 6,714

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 388,744 536,469
Trade creditors 17,727 25,949
Amounts owed to group undertakings 50,319 10,319
Social security and other taxes 1,155 1,505
Pension 276 394
VAT 24,846 10,860
Other creditors 1,154 -
Credit card 3,452 2,090
Accruals and deferred income 36,960 6,208
524,633 593,794

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 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.