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Registered number: 01486960










DISS TOWN FOOTBALL CLUB DEVELOPMENT COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 1 JUNE 2024

 
DISS TOWN FOOTBALL CLUB DEVELOPMENT COMPANY LIMITED
REGISTERED NUMBER: 01486960

STATEMENT OF FINANCIAL POSITION
AS AT 1 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
39,157
42,100

  
39,157
42,100

Current assets
  

Cash at bank and in hand
  
2,383
3,169

  
2,383
3,169

Creditors: amounts falling due within one year
 5 
(1,835)
(1,715)

Net current assets
  
 
 
548
 
 
1,454

Total assets less current liabilities
  
39,705
43,554

Creditors: amounts falling due after more than one year
 6 
(253,673)
(254,506)

  

Net liabilities
  
(213,968)
(210,952)


Capital and reserves
  

Called up share capital 
  
8
8

Profit and loss account
  
(213,976)
(210,960)

  
(213,968)
(210,952)


Page 1

 
DISS TOWN FOOTBALL CLUB DEVELOPMENT COMPANY LIMITED
REGISTERED NUMBER: 01486960
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 1 JUNE 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 income statement 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: 




A M Collins
S L Flatman
Director
Director


Date: 27 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DISS TOWN FOOTBALL CLUB DEVELOPMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JUNE 2024

1.


General information

Diss Town Football Club Development Company Limited is a private company limited by shares and incorporated in England and Wales, registration number 01486960.  The registered office is The Centre Spot, Brewers Green Lane, Diss, Norfolk, IP22 4QP.  

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The directors believe the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements. The directors believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

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 3

 
DISS TOWN FOOTBALL CLUB DEVELOPMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JUNE 2024

2.Accounting policies (continued)


2.4
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 and reducing balance method.

Depreciation is provided on the following basis:

Freehold property
-
4% straight line
Plant & machinery
-
20% reducing balance
Fixtures & fittings
-
15% reducing balance

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.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 6 (2023 - 7).

Page 4

 
DISS TOWN FOOTBALL CLUB DEVELOPMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JUNE 2024

4.


Tangible fixed assets





Freehold property
Plant & machinery
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 2 June 2023
242,134
1,500
10,614
254,248



At 1 June 2024

242,134
1,500
10,614
254,248



Depreciation


At 2 June 2023
200,676
886
10,586
212,148


Charge for the year on owned assets
2,806
123
14
2,943



At 1 June 2024

203,482
1,009
10,600
215,091



Net book value



At 1 June 2024
38,652
491
14
39,157



At 1 June 2023
41,458
614
28
42,100


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
174
-

Accruals and deferred income
1,661
1,715

1,835
1,715



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
244,510
244,510

Accruals and deferred income
9,163
9,996

253,673
254,506


Page 5

 
DISS TOWN FOOTBALL CLUB DEVELOPMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 JUNE 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Other loans
244,510
244,510


244,510
244,510


244,510
244,510


Included in creditors within the statement of financial position is an inter-company loan owed to Diss Town Football Club, which the directors have agreed will not be repaid in full before 1 June 2025.

 
Page 6