AFC SUDBURY LIMITED

Company Registration Number:
00500191 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

AFC SUDBURY LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

AFC SUDBURY LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 1,777,658 1,784,303
Total fixed assets: 1,777,658 1,784,303
Current assets
Stocks: 250 250
Debtors:   102,184 72,059
Cash at bank and in hand: 96,687 127,532
Total current assets: 199,121 199,841
Creditors: amounts falling due within one year: 4 (151,744) (91,956)
Net current assets (liabilities): 47,377 107,885
Total assets less current liabilities: 1,825,035 1,892,188
Creditors: amounts falling due after more than one year: 5 (290,000) (312,500)
Total net assets (liabilities): 1,535,035 1,579,688
Capital and reserves
Called up share capital: 17,755 17,755
Share premium account: 789 789
Revaluation reserve:650,00050,000
Other reserves: 1,353 1,353
Profit and loss account: 1,465,138 1,509,791
Shareholders funds: 1,535,035 1,579,688

The notes form part of these financial statements

AFC SUDBURY LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 01 February 2025
and signed on behalf of the board by:

Name: Andrew Long
Status: Director

The notes form part of these financial statements

AFC SUDBURY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Floodlights and Machinery 10% on reducing balance Fixtures, fittings & equipment 10% on reducing balance

Other accounting policies

Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

AFC SUDBURY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 35 34

AFC SUDBURY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 1,875,720
At 31 May 2024 1,875,720
Depreciation
At 01 June 2023 91,417
Charge for year 6,645
At 31 May 2024 98,062
Net book value
At 31 May 2024 1,777,658
At 31 May 2023 1,784,303

AFC SUDBURY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Creditors: amounts falling due within one year note

Bank loans £31,250 Trade creditors £114,541 Taxation and social security costs £3,563 Accruals £2,100 Other creditors £290

AFC SUDBURY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due after more than one year note

Obligations under finance lease and hire purchase contracts £40,000 Bonds for 3G pitch payable £250,000

AFC SUDBURY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Revaluation reserve

2024
£
Balance at 01 June 2023 50,000
Surplus or deficit after revaluation 0
Balance at 31 May 2024 50,000

AFC SUDBURY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

7. Changes in presentation and prior period adjustments

The directors present their report and accounts for the year ended 31 May 2024 based on information in the accounting software and adjustments provided at resignation from N Johnson, Financial Director on 24th June 2024. An adjustment is made to the prior year presentation of bonds, these are a loan and therefore a liability, previously shown as equity. Repayment is falling due within one year so are not shown as "creditors falling due within one year".