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REGISTERED NUMBER: 13774571 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

FOR

REAL BEDFORD FC LIMITED

REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REAL BEDFORD FC LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024







DIRECTOR: P McCormack





REGISTERED OFFICE: Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY





BUSINESS ADDRESS: McMullen Park
Meadow Lane
Bedford
MK44 3SB





REGISTERED NUMBER: 13774571 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde Limited
Chartered Accountants
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)

BALANCE SHEET
31 MAY 2024

31.5.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 207 232
Tangible assets 5 50,988 40,866
51,195 41,098

CURRENT ASSETS
Stocks 6 37,842 46,346
Debtors 7 605,662 48,689
Investments 8 181,282 80,565
Prepayments and accrued income 3,131 33,637
Cash at bank and in hand 3,105 189,519
831,022 398,756
CREDITORS
Amounts falling due within one year 9 86,235 24,232
NET CURRENT ASSETS 744,787 374,524
TOTAL ASSETS LESS CURRENT LIABILITIES 795,982 415,622

PROVISIONS FOR LIABILITIES 10 (34,232 ) (10,217 )

ACCRUALS AND DEFERRED INCOME (547,483 ) (288,361 )
NET ASSETS 214,267 117,044

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11 214,167 116,944
214,267 117,044

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

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

The director acknowledges his 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.

REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 November 2024 and were signed by:





P McCormack - Director


REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

Real Bedford FC Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover comprises of sponsorship, merchandise sales, matchday income and donations.

Sponsorship income is accounted for on an accruals basis and is charged to the profit and loss in the period to which it relates. Income received in relation to the provision of future services is deferred and included in accruals and deferred income.

Revenue from the sale of merchandise, both online and in the club shop, are recognised at the point of sale when goods are delivered and legal title has passed.

Ticket sales for matchday games are accounted for on an accruals basis and are charged to the profit and loss in the period to which it relates. Other matchday income is recognised at the point of sale.

Donations received are accounted for upon receipt.

Grants and prize income is recognised in the period it is received.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets or financial liabilities.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss in other administrative expenses.

Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Creditors and provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably measured. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Loans and borrowings are initially recognised at the transaction price including costs. Subsequently, they are measured at amortised cost using the effective interest method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The present value of a financial asset or financial liability that is repayable on demand is equal to the undiscounted cash amount expect to be pair or received.

Taxation
Taxation for the period 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Assets and liabilities in cryptoassets are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in cryptoassets are translated into sterling at the rate of exchange ruling at the date of transaction.

REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Investments
Investments comprises of cryptoassets and are valued at their market value at the balance sheet date. Any changes in their fair value are recognised in the profit and loss account for the period.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 July 2023
and 31 May 2024 270
AMORTISATION
At 1 July 2023 38
Amortisation for period 25
At 31 May 2024 63
NET BOOK VALUE
At 31 May 2024 207
At 30 June 2023 232

REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 44,578 605 2,476 47,659
Additions 11,430 249 9,054 20,733
At 31 May 2024 56,008 854 11,530 68,392
DEPRECIATION
At 1 July 2023 5,909 95 789 6,793
Charge for period 8,361 111 2,139 10,611
At 31 May 2024 14,270 206 2,928 17,404
NET BOOK VALUE
At 31 May 2024 41,738 648 8,602 50,988
At 30 June 2023 38,669 510 1,687 40,866

6. STOCKS
31.5.24 30.6.23
£    £   
Stocks 37,842 46,346

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 30.6.23
£    £   
Trade debtors 581,030 341
Amounts owed by group undertakings 1,718 -
Other debtors - 845
VAT 22,914 47,503
605,662 48,689

8. CURRENT ASSET INVESTMENTS
31.5.24 30.6.23
£    £   
Unlisted investments 181,282 80,565

REAL BEDFORD FC LIMITED (REGISTERED NUMBER: 13774571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 30.6.23
£    £   
Trade creditors 5,446 3,130
Tax 3,585 16,198
Other creditors 37,993 -
Directors' current accounts 39,211 4,904
86,235 24,232

10. PROVISIONS FOR LIABILITIES
31.5.24 30.6.23
£    £   
Deferred tax 34,232 10,217

Deferred
tax
£   
Balance at 1 July 2023 10,217
Accelerated capital allowances 2,468
Fair value gains 21,547
Balance at 31 May 2024 34,232

11. RESERVES
Retained
earnings
£   

At 1 July 2023 116,944
Profit for the period 97,223
At 31 May 2024 214,167