Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10619966 Mr Richard Maxwell Mr Richard Maxwell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10619966 2023-05-31 10619966 2024-05-31 10619966 2023-06-01 2024-05-31 10619966 frs-core:CurrentFinancialInstruments 2024-05-31 10619966 frs-core:BetweenOneFiveYears 2024-05-31 10619966 frs-core:ComputerEquipment 2024-05-31 10619966 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10619966 frs-core:ComputerEquipment 2023-05-31 10619966 frs-core:FurnitureFittings 2024-05-31 10619966 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10619966 frs-core:FurnitureFittings 2023-05-31 10619966 frs-core:MoreThanFiveYears 2024-05-31 10619966 frs-core:WithinOneYear 2024-05-31 10619966 frs-core:RevaluationReserve 2023-06-01 2024-05-31 10619966 frs-core:RevaluationReserve 2023-05-31 10619966 frs-core:RevaluationReserve 2024-05-31 10619966 frs-core:ShareCapital 2024-05-31 10619966 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10619966 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10619966 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10619966 frs-bus:SmallEntities 2023-06-01 2024-05-31 10619966 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10619966 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10619966 frs-bus:Director1 2023-06-01 2024-05-31 10619966 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 10619966 frs-countries:EnglandWales 2023-06-01 2024-05-31 10619966 2022-05-31 10619966 2023-05-31 10619966 2022-06-01 2023-05-31 10619966 frs-core:CurrentFinancialInstruments 2023-05-31 10619966 frs-core:BetweenOneFiveYears 2023-05-31 10619966 frs-core:MoreThanFiveYears 2023-05-31 10619966 frs-core:WithinOneYear 2023-05-31 10619966 frs-core:RevaluationReserve 2023-05-31 10619966 frs-core:ShareCapital 2023-05-31 10619966 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10619966
Huntingdon Town Football Club Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Focal Business Group Limited
Chartered Institue of Management Accountants
4A Church Street
Market Harborough
Leicestershire
LE16 7AA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10619966
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 289,992 68,000
289,992 68,000
CURRENT ASSETS
Debtors 5 6,452 -
Cash at bank and in hand 4,861 -
11,313 -
Creditors: Amounts Falling Due Within One Year 6 (155,719 ) -
NET CURRENT ASSETS (LIABILITIES) (144,406 ) -
TOTAL ASSETS LESS CURRENT LIABILITIES 145,586 68,000
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,615 ) -
NET ASSETS 120,971 68,000
CAPITAL AND RESERVES
Called up share capital 628 628
Revaluation reserve 8 197,137 67,587
Profit and Loss Account (76,794 ) (215 )
SHAREHOLDERS' FUNDS 120,971 68,000
Page 1
Page 2
For the 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.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Maxwell
Director
19 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Huntingdon Town Football Club Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10619966 . The registered office is 99 Higham Road, Rushden, NN10 6DS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 10% reducing balance method
Computer Equipment 3 years on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 June 2023 68,000 - 68,000
Additions 101,135 2,132 103,267
Revaluation 129,550 - 129,550
As at 31 May 2024 298,685 2,132 300,817
Depreciation
As at 1 June 2023 - - -
Provided during the period 10,114 711 10,825
As at 31 May 2024 10,114 711 10,825
Net Book Value
As at 31 May 2024 288,571 1,421 289,992
As at 1 June 2023 68,000 - 68,000
All fixtures and fittings were revalued by the director at 31 May 2024, based on their fair value with reference to an open market.  Historical cost of the revalued assets would be £169,135.
Fixtures & Fittings Computer Equipment Total
£ £ £
At cost 169,135 2,132 171,267
At valuation 129,550 - 129,550
298,685 2,132 300,817
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,115 -
Other debtors 5,337 -
6,452 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,651 -
Other creditors 153,068 -
155,719 -
7. Other Commitments
The total of future minimum lease payments under operating leases are as following:
2024 2023
£ £
Not later than one year 1,000 1,000
Later than one year and not later than five years 5,000 5,000
Later than five years 73,000 74,000
79,000 80,000
The company has a total guarentees and commitments at the balance sheet date of £79,000 (2023 - £80,000), which is not included on the balance sheet and relates to the property lease agreement over the remaining 79 years.
8. Reserves
Revaluation Reserve
£
As at 1 June 2023 67,587
Surplus on revaluation 129,550
As at 31 May 2024 197,137
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