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Registration number: 01967707

Havant and Waterlooville Football Club Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Havant and Waterlooville Football Club Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Havant and Waterlooville Football Club Limited

Company Information

Chairman

D A Pope

Chief executive

M A Pope

Directors

A B Hewitt

Dr T K Mellor

P F Tracey

G K Pratt

D Brewer

Registered office

West Leigh Park
Martin Road
Havant
Hampshire
PO9 5TH

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Havant and Waterlooville Football Club Limited

(Registration number: 01967707)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

885,000

958,014

Current assets

 

Stocks

5

22,000

19,000

Debtors

6

46,420

79,916

Cash at bank and in hand

 

6,132

18,185

 

74,552

117,101

Creditors: Amounts falling due within one year

7

(197,337)

(169,218)

Net current liabilities

 

(122,785)

(52,117)

Total assets less current liabilities

 

762,215

905,897

Creditors: Amounts falling due after more than one year

7

(481,085)

(256,210)

Net assets

 

281,130

649,687

Capital and reserves

 

Called up share capital

8

3,506,124

3,506,124

Share premium reserve

379,321

379,321

Revaluation reserve

4,083

4,083

Retained earnings

(3,608,398)

(3,239,841)

Shareholders' funds

 

281,130

649,687

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Havant and Waterlooville Football Club Limited

(Registration number: 01967707)
Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 5 February 2025 and signed on its behalf by:
 

.........................................
D A Pope
Chairman

.........................................
M A Pope
Chief executive

 

Havant and Waterlooville Football Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
West Leigh Park
Martin Road
Havant
Hampshire
PO9 5TH

These financial statements were authorised for issue by the Board on 5 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Havant and Waterlooville Football Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Asset class

Depreciation method and rate

Long leasehold property

2% reducing balance

Plant & machinery

25% reducing balance

Fixtures and fittings

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Havant and Waterlooville Football Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 45 (2023 - 43).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

1,373,066

103,245

1,476,311

Disposals

-

(58,588)

(58,588)

At 31 May 2024

1,373,066

44,657

1,417,723

Depreciation

At 1 June 2023

437,102

81,195

518,297

Charge for the year

68,077

4,278

72,355

Eliminated on disposal

-

(57,929)

(57,929)

At 31 May 2024

505,179

27,544

532,723

Carrying amount

At 31 May 2024

867,887

17,113

885,000

At 31 May 2023

935,964

22,050

958,014

Included within the net book value of land and buildings above is £867,887 (2023 - £935,964) in respect of long leasehold land and buildings.
 

 

Havant and Waterlooville Football Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Stocks

2024
£

2023
£

Other inventories

22,000

19,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

43,608

43,588

Prepayments

1,300

25,516

Other debtors

1,512

10,812

 

46,420

79,916

 

Havant and Waterlooville Football Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12,934

-

Trade creditors

 

19,456

61,140

Taxation and social security

 

33,706

48,483

Accruals and deferred income

 

63,008

11,329

Other creditors

 

68,233

48,266

 

197,337

169,218

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

449,875

225,000

Other non-current financial liabilities

 

31,210

31,210

 

481,085

256,210

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

3,505,084

3,505,084

3,505,084

3,505,084

"A" Ordinary Shares of £1 each

40

40

40

40

3,505,124

3,505,124

3,505,124

3,505,124