Company Registration No. 01756713 (England and Wales)
LEAMINGTON FOOTBALL CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
LEAMINGTON FOOTBALL CLUB LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
LEAMINGTON FOOTBALL CLUB LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
270,554
283,949
Current assets
Stocks
5,659
3,871
Debtors
4
22,636
39,392
Cash at bank and in hand
29,970
65,394
58,265
108,657
Creditors: amounts falling due within one year
5
(60,530)
(53,795)
Net current (liabilities)/assets
(2,265)
54,862
Total assets less current liabilities
268,289
338,811
Creditors: amounts falling due after more than one year
6
(1,943)
(2,316)
Net assets
266,346
336,495
Capital and reserves
Called up share capital
67,258
63,756
Share premium account
454,306
422,788
Profit and loss reserves
(255,218)
(150,049)
Total equity
266,346
336,495

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

LEAMINGTON FOOTBALL CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2025 and are signed on its behalf by:
Mr R W Davis
Director
Company registration number 01756713 (England and Wales)
LEAMINGTON FOOTBALL CLUB LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2022
61,623
403,591
(119,489)
345,725
Year ended 30 June 2023:
Loss and total comprehensive income
-
-
(30,560)
(30,560)
Issue of share capital
2,133
19,197
-
21,330
Balance at 30 June 2023
63,756
422,788
(150,049)
336,495
Year ended 30 June 2024:
Loss and total comprehensive income
-
-
(105,169)
(105,169)
Issue of share capital
3,502
31,518
-
35,020
Balance at 30 June 2024
67,258
454,306
(255,218)
266,346
LEAMINGTON FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Leamington Football Club Limited is a private company limited by shares incorporated in England and Wales. The registered office is Your Co-Op Community Stadium, Harbury Lane, Leamington Spa, Warwickshire, England, CV33 9QB.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the year end the company had net current liabilities of £2,265 (2023: net current assets of £54,862). The directors have agreed to provide financial support to the company for the foreseeable future. On the basis of this continued support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

Turnover represents the total amount receivable by the company in the ordinary course of business from playing and associated activities, net of VAT.

 

Income from match receipts, and commercial activities which has been received prior to the year end relating to future football seasons is treated as deferred income.

1.4
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
2% - 25% straight line
Plant and equipment
10% - 25% reducing balance
LEAMINGTON FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LEAMINGTON FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Grants received

The club receives grants in respect of certain capital expenditure. Grants received are taken to deferred income and are recognised in the profit and loss account over the same period that the expenditure is depreciated.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
6
LEAMINGTON FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
589,056
111,349
700,405
Additions
-
0
217
217
At 30 June 2024
589,056
111,566
700,622
Depreciation and impairment
At 1 July 2023
317,282
99,174
416,456
Depreciation charged in the year
11,698
1,914
13,612
At 30 June 2024
328,980
101,088
430,068
Carrying amount
At 30 June 2024
260,076
10,478
270,554
At 30 June 2023
271,774
12,175
283,949
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
20,420
34,860
Other debtors
2,216
4,532
22,636
39,392
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
32,451
13,668
Taxation and social security
15,210
15,830
Other creditors
12,869
24,297
60,530
53,795
LEAMINGTON FOOTBALL CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,943
2,316
2024-06-302023-07-01falsefalsefalse12 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr James ScottMr Russell W DavisMr N SproulMr Graham J MoodyMr Kevin J WatsonMr Paul C O'RaffertyMr Oliver P SpencerMr Mark EdwardsMiss F Rudge017567132023-07-012024-06-30017567132024-06-30017567132023-06-3001756713core:LandBuildings2024-06-3001756713core:OtherPropertyPlantEquipment2024-06-3001756713core:LandBuildings2023-06-3001756713core:OtherPropertyPlantEquipment2023-06-3001756713core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3001756713core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3001756713core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3001756713core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3001756713core:CurrentFinancialInstruments2024-06-3001756713core:CurrentFinancialInstruments2023-06-3001756713core:ShareCapital2024-06-3001756713core:ShareCapital2023-06-3001756713core:SharePremium2024-06-3001756713core:SharePremium2023-06-3001756713core:RetainedEarningsAccumulatedLosses2024-06-3001756713core:RetainedEarningsAccumulatedLosses2023-06-3001756713core:ShareCapital2022-06-3001756713core:SharePremium2022-06-3001756713core:RetainedEarningsAccumulatedLosses2022-06-3001756713bus:Director22023-07-012024-06-3001756713core:RetainedEarningsAccumulatedLosses2022-07-012023-06-30017567132022-07-012023-06-3001756713core:RetainedEarningsAccumulatedLosses2023-07-012024-06-3001756713core:ShareCapital2022-07-012023-06-3001756713core:SharePremium2022-07-012023-06-3001756713core:ShareCapital2023-07-012024-06-3001756713core:SharePremium2023-07-012024-06-3001756713core:LandBuildingscore:OwnedOrFreeholdAssets2023-07-012024-06-3001756713core:PlantMachinery2023-07-012024-06-3001756713core:LandBuildings2023-06-3001756713core:OtherPropertyPlantEquipment2023-06-30017567132023-06-3001756713core:LandBuildings2023-07-012024-06-3001756713core:OtherPropertyPlantEquipment2023-07-012024-06-3001756713core:WithinOneYear2024-06-3001756713core:WithinOneYear2023-06-3001756713core:Non-currentFinancialInstruments2024-06-3001756713core:Non-currentFinancialInstruments2023-06-3001756713bus:PrivateLimitedCompanyLtd2023-07-012024-06-3001756713bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3001756713bus:FRS1022023-07-012024-06-3001756713bus:AuditExemptWithAccountantsReport2023-07-012024-06-3001756713bus:Director12023-07-012024-06-3001756713bus:Director32023-07-012024-06-3001756713bus:Director42023-07-012024-06-3001756713bus:Director52023-07-012024-06-3001756713bus:Director62023-07-012024-06-3001756713bus:Director72023-07-012024-06-3001756713bus:Director82023-07-012024-06-3001756713bus:CompanySecretary12023-07-012024-06-3001756713bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP