Company Registration No. 14261163 (England and Wales)
Royston Town Football Club Limited
Unaudited accounts
for the year ended 31 May 2024
Royston Town Football Club Limited
Unaudited accounts
Contents
Royston Town Football Club Limited
Statement of financial position
as at 31 May 2024
Tangible assets
105,624
106,333
Cash at bank and in hand
3,863
(2,250)
Creditors: amounts falling due within one year
(74,459)
(61,069)
Net current liabilities
(49,534)
(13,801)
Total assets less current liabilities
56,090
92,532
Creditors: amounts falling due after more than one year
(11,697)
(34,697)
Capital contribution reserve
49,308
49,308
Profit and loss account
(4,915)
8,527
Members' funds
44,393
57,835
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 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by
S Jackson
Director
Company Registration No. 14261163
Royston Town Football Club Limited
Notes to the Accounts
for the year ended 31 May 2024
Royston Town Football Club Limited is a private company, limited by guarantee, registered in England and Wales, registration number 14261163. The registered office is 8A Garden Walk, Royston , Herts, SG8 7HP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Royston Town Football Club Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 June 2023
90,500
20,000
110,500
At 31 May 2024
90,500
23,249
113,749
At 1 June 2023
-
4,167
4,167
Charge for the year
-
3,958
3,958
At 31 May 2024
-
8,125
8,125
At 31 May 2024
90,500
15,124
105,624
At 31 May 2023
90,500
15,833
106,333
Amounts falling due within one year
Trade debtors
12,043
4,881
Other debtors
2,760
38,466
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Trade creditors
31,710
35,362
Taxes and social security
3,655
2,285
Other creditors
26,312
11,876
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
-
13,000
8
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Royston Town Football Club Limited
Notes to the Accounts
for the year ended 31 May 2024
9
Average number of employees
During the year the average number of employees was 28 (2023: 30).