REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JUNE 2023 TO 30 JUNE 2024 |
FOR |
LONDON BEES AMERICAN |
FOOTBALL CLUB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JUNE 2023 TO 30 JUNE 2024 |
FOR |
LONDON BEES AMERICAN |
FOOTBALL CLUB LIMITED |
LONDON BEES AMERICAN |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14911115) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JUNE 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LONDON BEES AMERICAN |
FOOTBALL CLUB LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 2 JUNE 2023 TO 30 JUNE 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
LONDON BEES AMERICAN |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14911115) |
BALANCE SHEET |
30 JUNE 2024 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
The director acknowledges his 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 profit or loss 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. |
The financial statements were approved by the director and authorised for issue on |
LONDON BEES AMERICAN |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14911115) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JUNE 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
London Bees American Football Club Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The director regards the foreseeable future as no less than twelve months following the publication of these annual financial statements. The director has considered the company's balance sheet position as at the year end, its working capital forecasts, the current cost of living crisis and projections, taking account of possible changes in trading performance and the current state of its operating market, and are satisfied that for the foreseeable future, the company's financial position is improving and will enable the company to remain in operational existence. In addition, the director and shareholder has agreed to provide continuing financial support as and when required to enable the company to continue in operational existence. Consequently, the director considers it to be appropriate to prepare the financial statements on the going concern basis. |
Mr A Kleanthous has reviewed the business of the club, its potential future growth, and analysed the financials, he believes strong corporate governance with robust business model and effective management will increase the revenue streams of the club, and the club has resources, strategies and resilience to continue its operations in a sustainable way, therefore he has provided a support to club for the foreseeable future, and at-least minimum for 12 months' time horizon from the date of approval of these financial statements |
. |
Mr Kleanthous has a strong financial stability with history of support to the club and he has confirmed he has no intention to withdraw from this support in the foreseeable future or unless the Club is able to meet its own liabilities first. Therefore Club is preparing financial statement on a going concern basis, and the financial statements do not include any adjustments that would result from the outcome being different from this basis. |
Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. |
There are no significant judgements or estimates involved in the preparation of the financial statements. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
LONDON BEES AMERICAN |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14911115) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JUNE 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
5. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
6. | ULTIMATE CONTROLLING PARTY |
The Company is 100% owned subsidiary of London Bees American Football Holdings Limited, a Company incorporated in the England and Wales, whose registered office is 1 Kings Avenue, London, United Kingdom, N21 3NA. |
The ultimate parent undertaking in which the Company's results are consolidated is The Bees Football Group |
Limited, a private limited company registered in England and Wales. Copies of the consolidated Financial |
Statements of The Bees Football Group Limited. can be obtained from the registered office at 1 Kings Avenue, London, United Kingdom, N21 3NA. |
The ultimate controlling party is A A Kleanthous. |