REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
Altrincham Association Football |
Club,limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
Altrincham Association Football |
Club,limited |
Altrincham Association Football |
Club,limited (Registered number: 00176333) |
Contents of the Financial Statements |
for the year ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 6 |
Altrincham Association Football |
Club,limited |
Company Information |
for the year ended 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
2nd Floor Fairbank House |
27 Ashley Road |
Altrincham |
Cheshire |
WA14 2DP |
Altrincham Association Football |
Club,limited (Registered number: 00176333) |
Balance Sheet |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 8 |
Retained earnings | 8 | ( |
) | ( |
) |
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 Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Altrincham Association Football |
Club,limited (Registered number: 00176333) |
Notes to the Financial Statements |
for the year ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Altrincham Association Football Club,limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Leasehold land and buildings - Straight line over the life of the lease |
Fixtures & fittings - 10% straight line |
Computers - 33% straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 |
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. |
The company has trading losses of £ 2,505,089 (2023- £1,452,536) to carry forward and set off against future profits. The surplus deferred taxation asset of £626,272 (2023 -£363,134) over and above the deferred taxation liabilities in respect of these losses have not been recognised as the directors consider there to be insufficient certainty as to their recoverability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Altrincham Association Football |
Club,limited (Registered number: 00176333) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | 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 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 June 2023 | ( |
) | 518,188 |
Deficit for the year | ( |
) | ( |
) |
Cash share issue | - | 1,434,136 | 1,434,136 |
At 31 May 2024 | ( |
) | 954,364 |
Altrincham Association Football |
Club,limited (Registered number: 00176333) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
9. | CONTINGENT LIABILITIES |
A loan creditor of £355,500 was written back to the profit and loss account in the year to 31 May 2013. The loan was made to the company some years ago and the repayment of the loan was subject to the terms of a legal agreement entered into. |
It is the company's view that this loan will not be repayable as the terms of the legal agreement triggering repayment cannot now be met. |
Further correspondence has been received from the creditors representatives but the company's solicitors have repudiated the claim for repayment of this debt and have advised the club to reject any claim for repayment robustly. |
Nothing has been heard from the creditors representatives for over five years. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Altrincham Association Football |
Club,limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Altrincham Association Football Club,limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Altrincham Association Football Club,limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Altrincham Association Football Club,limited and state those matters that we have agreed to state to the Board of Directors of Altrincham Association Football Club,limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Altrincham Association Football Club,limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Altrincham Association Football Club,limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Altrincham Association Football Club,limited. You consider that Altrincham Association Football Club,limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Altrincham Association Football Club,limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
2nd Floor Fairbank House |
27 Ashley Road |
Altrincham |
Cheshire |
WA14 2DP |