Company Registration No. SC194721 (Scotland)
HAFC Stadium Limited
Unaudited accounts
for the year ended 31 March 2024
HAFC Stadium Limited
Unaudited accounts
Contents
HAFC Stadium Limited
Company Information
for the year ended 31 March 2024
Company Number
SC194721 (Scotland)
Registered Office
The Cross
Main Street
Uddingston
G71 7ES
HAFC Stadium Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,242,376
1,200,000
Cash at bank and in hand
33,672
201,418
Creditors: amounts falling due within one year
(39,229)
(191,599)
Net current assets
1,046,618
975,213
Total assets less current liabilities
2,288,994
2,175,213
Creditors: amounts falling due after more than one year
(3,083,503)
(2,571,897)
Provisions for liabilities
Other provisions
(69,147)
(544,000)
Net liabilities
(863,656)
(940,684)
Called up share capital
200,000
200,000
Profit and loss account
(1,063,656)
(1,140,684)
Shareholders' funds
(863,656)
(940,684)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2024 and were signed on its behalf by
Colin McGowan
Director
Company Registration No. SC194721
HAFC Stadium Limited
Notes to the Accounts
for the year ended 31 March 2024
HAFC Stadium Limited is a private company, limited by shares, registered in Scotland, registration number SC194721. The registered office is The Cross, Main Street, Uddingston, G71 7ES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Heritable Property - straight line over 50 years
Plant & machinery
Straight Line over 4 years
Football Trust Grant received in respect of capital expenditure is credited to the profit and loss account over the estimated useful life of the fixed assets. The amount shown on the balance sheet represents the deferred income balance not yet credited to the profit and loss account.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
4,072,136
673,566
4,745,702
At 31 March 2024
4,072,136
715,942
4,788,078
At 1 April 2023
2,872,136
673,566
3,545,702
At 31 March 2024
2,872,136
673,566
3,545,702
At 31 March 2024
1,200,000
42,376
1,242,376
At 31 March 2023
1,200,000
-
1,200,000
HAFC Stadium Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Amounts due from group undertakings etc.
582,283
582,283
Deferred tax asset
72,395
-
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
(10,771)
(17,272)
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
2,473,503
1,956,919
Taxes and social security
-
4,978
Loans from directors
130,000
130,000
8
Provisions for liabilities
£
A provision has been made against dilapidations to reinstate the building to original state with modernisation allowances as per survey.
9
Transactions with related parties
Group structure and ultimate controlling party
The company is wholly owned by Deeka Limited, of which C C McGowan is a director.
The Ultimate controlling party is Edencrest Limited, of which C C McGowan is a director and shareholder.
Debtors
Included in the debtors is an amount of £5,383 (2022 £5,383) due from Deeka Ltd. The balance is interest free and has no fixed repayment date or term. Included in debtors is an amount of £576,900 (2022 £576,900) due from Edencrest Limited. The balance is interest free and has no repayment date or term.
HAFC Stadium Limited
Notes to the Accounts
for the year ended 31 March 2024
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).