REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
Independent Schools Football Association |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
Independent Schools Football Association |
Limited |
Independent Schools Football Association |
Limited (Registered number: 07194925) |
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 |
Independent Schools Football Association |
Limited |
Company Information |
for the year ended 31 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Belmont House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
Independent Schools Football Association |
Limited (Registered number: 07194925) |
Balance Sheet |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Independent Schools Football Association |
Limited (Registered number: 07194925) |
Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Independent Schools Football Association |
Limited (Registered number: 07194925) |
Notes to the Financial Statements |
for the year ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Independent Schools Football Association Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income |
Income mainly comprises grants from The Football Association, sponsorships, parental contributions and school and tournament entry fees. |
Financial instruments |
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. |
Taxation |
It has been agreed with HM Revenue and Customs that the company is only liable to corporation tax on any investment income. Investment income comprises bank interest received. |
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. |
Limited by guarantee |
The company is a private company limited by guarantees and consequently does not have share capital. Each of the members, as defined in the Articles of Association, is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of a winding up or liquidation. |
Independent Schools Football Association |
Limited (Registered number: 07194925) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Income |
Grants received from The Football Association |
The company receives annual grants from The Football Association to further its aims of promoting, developing and regulating football for boys and girls of all ages within independent schools. |
These grants comprise a major source of income of the company and are usually received on a cash accounting basis in advance of the forthcoming football season. |
The level of cash grant in each year is determined by The Football Association. |
If upon winding up or dissolution there remains any reserves, having repaid all repayable grants to The Football Association, the constitution of the company requires that these shall be paid to or distributed on such basis as the then current members shall unanimously agree in writing. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |