REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED (REGISTERED NUMBER: 03917999) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
10 Stadium Business Court |
Millennium Way |
Pride Park |
Derby |
Derbyshire |
DE24 8HP |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED (REGISTERED NUMBER: 03917999) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
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 |
Reserves |
Beneficiaries' fund |
Income and expenditure account |
The financial statements were approved by the Board of Directors and authorised for issue on |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED (REGISTERED NUMBER: 03917999) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Derbyshire County Football Association Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts are rounded to the nearest £. |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Consequently, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
In determining this assessment, the directors have considered: |
- the company's business activities, |
- latest available forecasts, |
- cash reserves, and |
- likelihood of continued FA grant funding. |
Significant judgements & estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic |
lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. |
Included in trade debtors is a specific bad debt provision for non-discipline balances older than three months, and for discipline balances older than six months. Trade debtors are reviewed quarterly and at the year end to ensure the provision is both reasonable and complete. |
Deferred income is calculated based on the period specified in the terms of each grant. Income has also been accrued where grants for the current period have not been received until after the year end. |
Income |
Income includes Football Association grants, membership and course fees, income from fines, protests and appeals, contributions towards insurance, sponsorships and other miscellaneous income receivable in the year. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently at cost net of depreciation or any impairment losses. |
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
Leasehold property | 2% on cost |
Plant & machinery | 15% on cost |
Office equipment | 15% on cost |
Computer equipment | 33% on cost |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED (REGISTERED NUMBER: 03917999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 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 |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease. |
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. |
Beneficiaries' fund |
The beneficiaries' fund is a designated fund comprising contributions made by member football teams, donations and bequests. The investment and distribution of these funds is at the discretion of the directors and the fund must be applied to benefit persons (or their families) who have rendered services to the game of football under the jurisdiction of the Derbyshire County Football Association Ltd. |
Capital expenditure grants |
Football Association grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful economic life of the assets to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Leasehold | Plant and |
properties | machinery | Totals |
£ | £ | £ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Depreciation |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
Leasehold property is held at historical cost less depreciation to date, which is considered by the directors to be equivalent to fair value. |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED (REGISTERED NUMBER: 03917999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | LIMITED BY GUARANTEE |
The company is limited by guarantee, not having any 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 £10. |
DERBYSHIRE COUNTY FOOTBALL |
ASSOCIATION LIMITED (REGISTERED NUMBER: 03917999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
11. | FOOTBALL ASSOCIATION CAPITAL EXPENDITURE GRANTS |
2024 | 2023 |
Received and receivable | £ | £ |
Brought forward | 212,328 | 212,328 |
Receivable during the period | - | - |
Disposal of fully amortised grants | - | - |
Carried forward | 212,328 | 212,328 |
Amortisation |
Brought forward | 89,425 | 72,241 |
Credited to income and expenditure account | 17,185 | 17,184 |
Disposal of fully amortised grants | - | - |
Carried forward | 106,610 | 89,425 |
Net balance carried forward | 105,718 | 122,903 |
Net balance brought forward | 122,903 | 140,087 |
Included in Other Creditors are the following balances relating to capital grants: |
2024 | 2023 |
£ | £ |
Due within one year | 17,184 | 17,183 |
Due after one year | 88,534 | 105,720 |
Total | 105,718 | 122,903 |
12. | MOVEMENT ON BENEFICIARIES' FUND |
2024 | 2023 |
£ | £ |
Brought forward | 21,057 | 20,147 |
Income |
Subscriptions | 455 | 1,612 |
Expenditure |
Payments to beneficiaries | - |
Bank charges | (1 | ) | (2 | ) |
Donations | - | (700 | ) |
Carried forward | 21,511 | 21,057 |