Shildon Association Football Club Limited 30/04/2024 iXBRL

Company registration number: 00103858

Shildon Association Football Club Limited

Unaudited filleted financial statements

30 April 2024

Shildon Association Football Club Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Shildon Association Football Club Limited

Directors and other information


Directors	N Smith
	P Mulley
	B W Burn
	M R Wilson	(Appointed 25th June 2024)
	A Bennett
	M J Tweddle
	D Dent
	D I Dent
	I Clinton	(Appointed 25th June 2024)
	C A Mulley


Secretary	M J Tweddle


Company number	00103858


Registered office	Dean Street
	Shildon
	County Durham
	DL4 1EZ


Accountants	Harrison Hutchinson Limited
	246 Park View
	Whitley Bay
	Tyne and Wear
	NE26 3QX

Shildon Association Football Club Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Shildon Association Football Club Limited

Year ended 30th April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shildon Association Football Club Limited for the year ended 30th April 2024 which comprise the statement of financial position, statement of changes in equity and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Shildon Association Football Club Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Shildon Association Football Club Limited and state those matters that we have agreed to state to the board of directors of Shildon Association Football Club Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shildon 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 Shildon 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 profit of Shildon Association Football Club Limited. You consider that Shildon 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 Shildon 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.

Harrison Hutchinson Limited

Chartered Accountants

246 Park View

Whitley Bay

Tyne and Wear

NE26 3QX

Shildon Association Football Club Limited

Statement of financial position

30th April 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	92,404		84,411
		_______		_______
			92,404		84,411

Current assets
Stocks		250		250
Debtors	6	192,242		189,954
Cash at bank and in hand		16,822		-
		_______		_______
		209,314		190,204
Creditors: amounts falling due
within one year	7	( 222,048)		( 197,503)
		_______		_______
Net current liabilities			( 12,734)		( 7,299)
			_______		_______
Total assets less current liabilities			79,670		77,112

Creditors: amounts falling due
after more than one year	8		( 7,297)		( 13,964)
			_______		_______
Net assets			72,373		63,148
			_______		_______

Capital and reserves
Called up share capital			43,564		43,564
Revaluation reserve			71,822		71,822
Capital redemption reserve			1,481		1,481
Profit and loss account			( 44,494)		( 53,719)
			_______		_______
Shareholders funds			72,373		63,148
			_______		_______

For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- 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;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 01 November 2024 , and are signed on behalf of the board by:

D I Dent

Director

Company registration number: 00103858

Shildon Association Football Club Limited

Statement of changes in equity

Year ended 30th April 2024

	Called up share capital	Revaluation reserve	Capital redemption reserve	Profit and loss account
	£	£	£	£


At 1st May 2022	43,564	71,822	1,481	( 33,426)	83,441

Profit/(loss) for the year				( 20,293)	( 20,293)
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	( 20,293)	( 20,293)

	_______	_______	_______	_______	_______
At 30th April 2023 and 1st May 2023	43,564	71,822	1,481	( 53,719)	63,148

Profit/(loss) for the year				9,225	9,225
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	9,225	9,225

	_______	_______	_______	_______	_______
At 30th April 2024	43,564	71,822	1,481	( 44,494)	72,373
	_______	_______	_______	_______	_______

Shildon Association Football Club Limited

Notes to the financial statements

Year ended 30th April 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dean Street, Shildon, County Durham, DL4 1EZ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 20 (2023: 21 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£	£
Cost
At 1st May 2023	80,889	17,267	2,550	100,706
Additions	-	9,710	-	9,710
Disposals	-	( 461)	( 317)	( 778)
	_______	_______	_______	_______
At 30th April 2024	80,889	26,516	2,233	109,638
	_______	_______	_______	_______
Depreciation
At 1st May 2023	-	14,680	1,615	16,295
Charge for the year	-	865	164	1,029
Disposals	-	( 49)	( 41)	( 90)
	_______	_______	_______	_______
At 30th April 2024	-	15,496	1,738	17,234
	_______	_______	_______	_______
Carrying amount
At 30th April 2024	80,889	11,020	495	92,404
	_______	_______	_______	_______
At 30th April 2023	80,889	2,587	935	84,411
	_______	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Other debtors	191,992	187,154
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	6,123	6,290
Trade creditors	2,820	448
Social security and other taxes	1,708	1,718
Other creditors	211,147	186,247
	_______	_______
	221,798	194,703
	_______	_______

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	7,297	13,964
	_______	_______

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	D I Dent	( 145,650)	( 16,178)	( 161,828)
		_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	D I Dent	( 112,063)	( 33,587)	( 145,650)
		_______	_______	_______

10. Controlling party

In the opinion of the directors there is no ultimate controlling party.