Company Registration No. 00935108 (England and Wales)
BEDWORTH UNITED ASSOCIATION FOOTBALL CLUB LIMITED
ABDRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
(A COMPANY LIMITED BY GUARANTEE)
BEDWORTH UNITED ASSOCIATION FOOTBALL CLUB LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BEDWORTH UNITED ASSOCIATION FOOTBALL CLUB LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
564,789
569,674
Current assets
Debtors
9,579
8,199
Cash at bank and in hand
391,135
355,976
400,714
364,175
Creditors: amounts falling due within one year
(278,669)
(248,003)
Net current assets
122,045
116,172
Total assets less current liabilities
686,834
685,846
Creditors: amounts falling due after more than one year
5
(213,582)
(238,033)
Net assets
473,252
447,813
Reserves
Profit and loss account
473,252
447,813

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income and expenditure 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 9 October 2024 and are signed on its behalf by:
N Rayson-Randle
Director
Company Registration No. 00935108
BEDWORTH UNITED ASSOCIATION FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Bedworth United Association Football Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Oval, Coventry Road, Bedworth, Warwickshire, CV12 8NN.

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 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, and is shown net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Expenditure on leasehold property
See note 4
Floodlights and 3G pitch
4% and 10% straight line basis
Fixtures, fittings & equipment
15% reducing balance
Motor vehicle
25% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

1.5
Cash and cash equivalents

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

1.6
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.

Basic financial assets

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

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

BEDWORTH UNITED ASSOCIATION FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors are classified as debt, are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 23 (2023 - 22).

BEDWORTH UNITED ASSOCIATION FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
4
Tangible fixed assets
Total
£
Cost
At 1 June 2023
850,088
Additions
24,267
At 31 May 2024
874,355
Depreciation
At 1 June 2023
280,414
Depreciation charged in the year
29,152
At 31 May 2024
309,566
Carrying amount
At 31 May 2024
564,789
At 31 May 2023
569,674

No depreciation has been charged in the current or previous year on the expenditure on leasehold property as the directors consider that the estimated residual value of the assets exceeds their present carrying values.

5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Government grants
213,582
238,033
6
Deferred income

Deferred income is included in the financial statements as follows:

2024
2023
£
£
Balance brought forward
238,033
262,484
Amortisation in the year
(33,932)
(33,932)
Balance carried forward
213,582
238,033
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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