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REGISTERED NUMBER: 08970067 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Hereford FC Limited

Hereford FC Limited (Registered number: 08970067)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hereford FC Limited

Company Information
for the year ended 31 May 2024







Directors: P J Churchus
A M Taylor
J D Roberts
M S Langford
C D Ammonds
D J Ball
G Webb





Secretary: P J Churchus





Registered office: Edgar Street
Hereford
Herefordshire
HR4 9JU





Registered number: 08970067 (England and Wales)





Auditors: Acre Accountancy Limited
Statutory Auditor
Certified Accountants
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Hereford FC Limited (Registered number: 08970067)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 82,009 51,518

CURRENT ASSETS
Stocks 18,157 18,360
Debtors 6 98,794 92,024
Cash at bank and in hand 409,596 155,154
526,547 265,538
CREDITORS
Amounts falling due within one year 7 (477,466 ) (310,533 )
NET CURRENT ASSETS/(LIABILITIES) 49,081 (44,995 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,090

6,523

CAPITAL AND RESERVES
Called up share capital 8 578,000 578,000
Retained earnings (446,910 ) (571,477 )
SHAREHOLDERS' FUNDS 131,090 6,523

Hereford FC Limited (Registered number: 08970067)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by:





P J Churchus - Director


Hereford FC Limited (Registered number: 08970067)

Notes to the Financial Statements
for the year ended 31 May 2024


1. STATUTORY INFORMATION

Hereford FC Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises current season ticket and match receipts, sponsorships, donations, commercial activities and other income arsing from the ordinary activities of the company net of discounts and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Community Assets - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 33% on cost

During the year Community Assets were scrapped and a charge of £1,187 is included in these statements to fully depreciate these assets.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Hereford FC Limited (Registered number: 08970067)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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. On this basis no provision has been made in these financial statements for the deferred tax asset on the unrelieved losses carried forward.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 37 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Community and Office
property Assets fittings equipment Totals
£    £    £    £    £   
Cost
At 1 June 2023 37,543 1,854 73,113 21,937 134,447
Additions 38,018 - 7,794 - 45,812
At 31 May 2024 75,561 1,854 80,907 21,937 180,259
Depreciation
At 1 June 2023 22,331 667 37,994 21,937 82,929
Charge for year 6,615 1,187 7,519 - 15,321
At 31 May 2024 28,946 1,854 45,513 21,937 98,250
Net book value
At 31 May 2024 46,615 - 35,394 - 82,009
At 31 May 2023 15,212 1,187 35,119 - 51,518

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 56,089 63,040
Other debtors 37,705 23,984
93,794 87,024

Hereford FC Limited (Registered number: 08970067)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 5,000 5,000

Aggregate amounts 98,794 92,024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 33,209 48,136
Taxation and social security 68,599 60,482
Other creditors 375,658 201,915
477,466 310,533

Other creditors includes deferred income of £215,628 (2023 £153,456) in relation to advance season ticket sales and £33,481 (2023 £3,465) for advance squadbuilder receipts.Both relate to income for the forthcoming season.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
289,000 Ordinary £1 289,000 289,000
289,000 Ordinary A £1 289,000 289,000
578,000 578,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Mark Bevan FCCA (Senior Statutory Auditor)
for and on behalf of Acre Accountancy Limited

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at 31 May 2024 of £62,500 (2023 - £72,500).

In 2018, the company entered in to a new lease agreement for Edgar Street stadium with Herefordshire Council which commenced on 1st August 2020. The new lease secures the use of the premises until July 31st 2030 at the cost of £10,000 per annum.