Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31truetrue1822023-06-01falseNo description of principal activity158The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 2901467 2023-06-01 2024-05-31 2901467 2022-06-01 2023-05-31 2901467 2024-05-31 2901467 2023-05-31 2901467 c:CompanySecretary1 2023-06-01 2024-05-31 2901467 c:Director1 2023-06-01 2024-05-31 2901467 c:Director2 2023-06-01 2024-05-31 2901467 c:Director3 2023-06-01 2024-05-31 2901467 c:Director4 2023-06-01 2024-05-31 2901467 c:Director5 2023-06-01 2024-05-31 2901467 c:RegisteredOffice 2023-06-01 2024-05-31 2901467 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 2901467 d:Buildings d:LongLeaseholdAssets 2024-05-31 2901467 d:Buildings d:LongLeaseholdAssets 2023-05-31 2901467 d:PlantMachinery 2023-06-01 2024-05-31 2901467 d:MotorVehicles 2023-06-01 2024-05-31 2901467 d:MotorVehicles 2024-05-31 2901467 d:MotorVehicles 2023-05-31 2901467 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 2901467 d:FurnitureFittings 2023-06-01 2024-05-31 2901467 d:FurnitureFittings 2024-05-31 2901467 d:FurnitureFittings 2023-05-31 2901467 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 2901467 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 2901467 d:CurrentFinancialInstruments 2024-05-31 2901467 d:CurrentFinancialInstruments 2023-05-31 2901467 d:Non-currentFinancialInstruments 2024-05-31 2901467 d:Non-currentFinancialInstruments 2023-05-31 2901467 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 2901467 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 2901467 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 2901467 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 2901467 d:ShareCapital 2024-05-31 2901467 d:ShareCapital 2023-05-31 2901467 d:SharePremium 2024-05-31 2901467 d:SharePremium 2023-05-31 2901467 d:RetainedEarningsAccumulatedLosses 2024-05-31 2901467 d:RetainedEarningsAccumulatedLosses 2023-05-31 2901467 c:OrdinaryShareClass1 2023-06-01 2024-05-31 2901467 c:OrdinaryShareClass1 2024-05-31 2901467 c:OrdinaryShareClass1 2023-05-31 2901467 c:OrdinaryShareClass2 2023-06-01 2024-05-31 2901467 c:OrdinaryShareClass2 2024-05-31 2901467 c:OrdinaryShareClass2 2023-05-31 2901467 c:FRS102 2023-06-01 2024-05-31 2901467 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 2901467 c:FullAccounts 2023-06-01 2024-05-31 2901467 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 2901467 d:WithinOneYear 2024-05-31 2901467 d:WithinOneYear 2023-05-31 2901467 d:BetweenOneFiveYears 2024-05-31 2901467 d:BetweenOneFiveYears 2023-05-31 2901467 d:MoreThanFiveYears 2024-05-31 2901467 d:MoreThanFiveYears 2023-05-31 2901467 6 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 2901467







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024


STEVENAGE FOOTBALL CLUB LIMITED






































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STEVENAGE FOOTBALL CLUB LIMITED
 


 
COMPANY INFORMATION


Directors
P O Wallace 
M L Taverner 
P P Wallace 
S I Dinsey 
M P Wallace 




Company secretary
P O Wallace



Registered number
2901467



Registered office
The Lamex Stadium
Broadhall Way

Stevenage

Hertfordshire

SG2 8RH




Accountants
Menzies LLP
Chartered Accountants

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP





 


STEVENAGE FOOTBALL CLUB LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 9


 


STEVENAGE FOOTBALL CLUB LIMITED
REGISTERED NUMBER:2901467



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
3,156,501
3,216,118

Investments
  
5,001
50,001

  
3,161,502
3,266,119

Current assets
  

Stocks
  
35,890
10,853

Debtors due within 1 year
  
985,493
811,288

Bank and cash balances
  
748,180
823,819

  
1,769,563
1,645,960

Creditors: amounts falling due within one year
 6 
(1,317,222)
(1,276,154)

Net current assets
  
 
 
452,341
 
 
369,806

Total assets less current liabilities
  
3,613,843
3,635,925

Creditors: amounts falling due after more than one year
  
(1,596,375)
(1,792,289)

Provisions for liabilities
  

Deferred tax
  
-
(61,303)

  
 
 
-
 
 
(61,303)

Net assets
  
2,017,468
1,782,333


Capital and reserves
  

Called up share capital 
 8 
39,472
36,472

Share premium account
  
1,761,027
714,027

Profit and loss account
  
216,969
1,031,834

  
2,017,468
1,782,333


Page 1

 


STEVENAGE FOOTBALL CLUB LIMITED
REGISTERED NUMBER:2901467


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P O Wallace
Director

Date: 21 February 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


STEVENAGE FOOTBALL CLUB LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Stevenage Football Club 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.
The presentation currency of the financial statements is the Pound Sterling (£). 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Preparation of consolidated financial statements

The financial statements contain information about Stevenage Football Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 


STEVENAGE FOOTBALL CLUB LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


STEVENAGE FOOTBALL CLUB LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property
-
over the life of the lease
Plant and machinery
-
25% and 10% on cost
Motor vehicles
-
10% on cost
Fixtures and fittings
-
25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. 

  
2.10

Transfer fees and sponsorship income

The company recognises transfer fees receivable in the profit and loss account in the year that the transfer takes place. The company also recognises sponsorship income in the year in which it is received. The company amortises transfer fees payable over the life of the contract, with the remaining balance classified in the balance sheet within other debtors.

  
2.11

Capital grants

Capital grants received on the leased properties are amortised over the remaining life on the lease of that property.

Page 5

 


STEVENAGE FOOTBALL CLUB LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 182 (2023 - 158).


.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 June 2023
5,783,393
9,100
676,990
6,469,483


Additions
-
-
107,881
107,881



At 31 May 2024

5,783,393
9,100
784,871
6,577,364



Depreciation


At 1 June 2023
2,683,007
9,100
561,258
3,253,365


Charge for the year on owned assets
124,584
-
42,914
167,498



At 31 May 2024

2,807,591
9,100
604,172
3,420,863



Net book value



At 31 May 2024
2,975,802
-
180,699
3,156,501



At 31 May 2023
3,100,386
-
115,732
3,216,118


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
50,001


Amounts written off
(45,000)



At 31 May 2024
5,001




Page 6

 


STEVENAGE FOOTBALL CLUB LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
81,593
207,107

Amounts owed by group undertakings
194,460
140,735

Amounts owed by connected companies
283,105
248,136

Other debtors
33,216
93,925

Prepayments and accrued income
316,414
121,385

Deferred taxation
76,705
-

985,493
811,288



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
52,075
49,167

Other loans
40,200
19,900

Trade creditors
368,156
559,830

Amounts owed to group companies
45,589
45,589

Corporation tax
-
4,488

Other taxation and social security
447,664
288,419

Obligations under hire purchase contracts
2,340
-

Other creditors
164,350
105,474

Accruals and deferred income
196,848
203,287

1,317,222
1,276,154


The following liabilities were secured:

2024
2023
£
£



Hire purchase
2,340
-

Bank loans
52,075
49,167

54,415
49,167

Details of security provided:

The bank loan and other facilities are secured by a fixed and floating charge over the company's assets. 

Page 7

 


STEVENAGE FOOTBALL CLUB LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
360,318
415,269

Other loans
-
80,000

Net obligations under hire purchase contracts
3,510
-

Accruals and deferred income
1,232,547
1,297,020

1,596,375
1,792,289


The following liabilities were secured:

2024
2023
£
£



Hire purchase
3,510
-

Bank loans
360,318
395,369

363,828
395,369

Details of security provided:

The bank loan and other facilities are secured by a fixed and floating charge over the company's assets. 


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



382,300 (2023 - 352,300) Ordinary shares of £0.10 each
38,230
35,230
12,420 (2023 - 12,420) Ordinary A shares of £0.10 each
1,242
1,242

39,472

36,472


During the year the company issued an additional 30,000 Ordinary 10p shares. All 30,000 shares were issued at a premium of £34.90 per share.  

Page 8

 


STEVENAGE FOOTBALL CLUB LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Commitments under operating leases

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
120,000
120,000

Later than 1 year and not later than 5 years
480,000
480,000

Later than 5 years
1,905,000
2,025,000

2,505,000
2,625,000


10.


Related party transactions

At the balance sheet date the company was owed £283,105 (2023: £248,136) by connected companies. The balance can be found within debtors. 

 
Page 9