Registered number
03136744
Harlow Town Football Club
Report and Unaudited Accounts
31 December 2023
Ward Divecha Limited
Chartered Accountants &
Statutory Auditors
29 Welbeck Street
W1G 8DA
Harlow Town Football Club
Registered number: 03136744
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 42,703 73,380
Current assets
Debtors 4 8,342 99,448
Cash at bank and in hand 116,240 49,465
124,582 148,913
Creditors: amounts falling due within one year 5 (67,447) 14,097
Net current assets 57,135 163,010
Total assets less current liabilities 99,838 236,390
Creditors: amounts falling due after more than one year 6 (362,922) (366,415)
Net liabilities (263,084) (130,025)
Capital and reserves
Called up share capital 450 450
Profit and loss account (263,534) (130,475)
Shareholders' funds (263,084) (130,025)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Thomas E Cunningham
Director
Approved by the board on 11 March 2025
Harlow Town Football Club
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
These financial statements have been prepared under the historical cost convention and in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% written down value
Pitch 10% straight line
Motor vehicle 20% written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).

Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature, including coronavirus Job retention scheme are recognized within other operating income in the profit and loss account in the same period as the related expenditure.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 319,034 17,250 336,284
Disposals (200,000) - (200,000)
At 31 December 2023 119,034 17,250 136,284
Depreciation
At 1 January 2023 251,593 11,311 262,904
Charge for the year 29,489 1,188 30,677
On disposals (200,000) - (200,000)
At 31 December 2023 81,082 12,499 93,581
Net book value
At 31 December 2023 37,952 4,751 42,703
At 31 December 2022 67,441 5,939 73,380
4 Debtors 2023 2022
£ £
Trade debtors 920 19,116
Deposit with Harlow S Trust 7,422 80,332
8,342 99,448
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 29,239 (9,921)
Corporation tax - 10
Other taxes and social security costs 21,700 34,342
Other creditors 16,508 (38,528)
67,447 (14,097)
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 36,659 40,152
Amount owed to associates 326,263 326,263
362,922 366,415
7 Other information
Harlow Town Football Club is a private company limited by shares and incorporated in England. Its registered office is:
Barrows Farm Stadium,
Off Elizabeth Way,
Harlow, Essex,
CM19 5BE
8 Ultimate controlling party
The company is controlled by PSM Property Development Limited. The ultimate controlling party is Mr T E Cunningham.
9 Related party transaction
As at 31st December 2023, company owes to the other related parties £326,263 (2022: £326,263)
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