Company Registration No. 00304339 (England and Wales)
WISBECH TOWN FOOTBALL CLUB LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
WISBECH TOWN FOOTBALL CLUB LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
WISBECH TOWN FOOTBALL CLUB LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
812,368
815,903
Current assets
Stocks
3,500
3,500
Cash at bank and in hand
7,306
9,206
10,806
12,706
Creditors: amounts falling due within one year
4
(140,111)
(131,736)
Net current liabilities
(129,305)
(119,030)
Net assets
683,063
696,873
Capital and reserves
Called up share capital
54,125
54,125
Profit and loss reserves
628,938
642,748
Total equity
683,063
696,873
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 17 February 2025 and are signed on its behalf by:
Mr P Brenchley
Director
Company registration number 00304339 (England and Wales)
WISBECH TOWN FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
Wisbech Town Football Club Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 30 Old Market, Wisbech, Cambridgeshire, PE13 1NB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
WISBECH TOWN FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
15
16
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
803,450
113,273
916,723
Depreciation and impairment
At 1 June 2023
100,820
100,820
Depreciation charged in the year
3,535
3,535
At 31 May 2024
104,355
104,355
Carrying amount
At 31 May 2024
803,450
8,918
812,368
At 31 May 2023
803,450
12,453
815,903
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,367
4,751
Taxation and social security
16,881
17,304
Other creditors
118,863
109,681
140,111
131,736