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ROCHDALE ASSOCIATION FOOTBALL CLUB,LIMITED(THE)

Registered Number
00111019
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

ROCHDALE ASSOCIATION FOOTBALL CLUB,LIMITED(THE)
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

COURTNEY, Guy
GAUGE, Simon John
KNIGHT, George Murray Simpson
KNIGHT, Richard Alan
OGDEN, Cameron Peter James
POCKNEY, Anthony John
SAUL, Adam James
WILLOUGHBY, James Lucas

Registered Address

The Crown Oil Arena
Sandy Lane
Rochdale
OL11 5DR

Registered Number

00111019 (England and Wales)
ROCHDALE ASSOCIATION FOOTBALL CLUB,LIMITED(THE)
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets31,56447,682
Tangible assets41,961,0982,175,854
1,962,6622,223,536
Current assets
Stocks632,53275,605
Debtors7551,873206,956
Cash at bank and on hand1,481,088125,164
2,065,493407,725
Creditors amounts falling due within one year8(1,718,289)(2,163,672)
Net current assets (liabilities)347,204(1,755,947)
Total assets less current liabilities2,309,866467,589
Creditors amounts falling due after one year9(6,717)(1,369,207)
Net assets2,303,149(901,618)
Capital and reserves
Called up share capital3,122,747492,040
Share premium1,306,0631,288,738
Profit and loss account(2,125,661)(2,682,396)
Shareholders' funds2,303,149(901,618)
The financial statements were approved and authorised for issue by the Board of Directors on 30 December 2024, and are signed on its behalf by:
GAUGE, Simon John
Director
Registered Company No. 00111019
ROCHDALE ASSOCIATION FOOTBALL CLUB,LIMITED(THE)
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover comprises income from gate receipts, television rights, merchandising royalty income, rental income, sponsorship and other commercial activities, exclusive of value added tax. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Amounts payable in respect of transfer of players registrations, both transfer fees and associated costs, are capitalised and amortised over the period of the players contract including any subsequent agreed extensions.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Land and buildings4
Plant and machinery15
Fixtures and fittings15
Vehicles20
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year117136
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 July 23128,109128,109
Additions1,5641,564
Disposals(128,109)(128,109)
At 30 June 241,5641,564
Amortisation and impairment
At 01 July 2380,42780,427
Charge for year33,00633,006
On disposals(113,433)(113,433)
Net book value
At 30 June 241,5641,564
At 30 June 2347,68247,682
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 July 232,469,118861,574157,6353,488,327
Additions--100100
At 30 June 242,469,118861,574157,7353,488,427
Depreciation and impairment
At 01 July 23889,118359,81663,5391,312,473
Charge for year98,765100,35115,740214,856
At 30 June 24987,883460,16779,2791,527,329
Net book value
At 30 June 241,481,235401,40778,4561,961,098
At 30 June 231,580,000501,75894,0962,175,854
5.Fixed asset investments
The company investments at the Balance Sheet date include the share capital of Denehurst Park (Rochdale) Limited. The Rochdale Association Football Club Limited own 100% of the ordinary share capital of Denehurst Park (Rochdale) Limited. At the Balance Sheet date, the net liabilities of Denehurst Park (Rochdale) Limited were £13,529.
6.Stocks

2024

2023

££
Other stocks32,53275,605
Total32,53275,605
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables450,95743,680
Other debtors1,70062,161
Prepayments and accrued income99,216101,115
Total551,873206,956
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables615,541837,798
Bank borrowings and overdrafts13,06710,000
Amounts owed to related parties-55,375
Taxation and social security149,644122,484
Other creditors507,885861,577
Accrued liabilities and deferred income432,152276,438
Total1,718,2892,163,672
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts6,71719,207
Amounts owed to related parties-1,350,000
Total6,7171,369,207
During the year, the loan to Denehurst Park (Rochdale) Limited, a 100% subsidiary of the Company, was written off in full.
10.Operating lease commitments
At 30 June 2024 (Company year end), the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £112,327 (2023 – £142,894)
11.Directors advances, credits and guarantees
The directors have continued to provide financial assistance to the club during the year, and on 08 May 2024 the monies advanced to the club (£625,400) were converted into ordinary share capital. At 30 June 2024, the club did not owe any directors any loans (30 June 2022 - £Nil) Director loan accounts were not overdrawn at any time during the year.
12.Share capital
During the year, the Company passed a resolution to authorise the creation of 9,000,000 new Ordinary A Shares of £0.22p each. On the 08 May 2024, 6,852,858 of the Ordinary A Shares were purchased by the Ogden Family as part of their initial investment into Rochdale Association Football Club Limited, and as a result they now collectively own around 69% of the Company's Share Capital. On the 08 May 2024, Simon Gauge and Richard Knight, whom are both Directors of the Company, converted their Directors loans made to the Company in exchange for 1,991,697 and 152,205 Ordinary A Shares respectively.