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REGISTERED NUMBER: 00176565 (England and Wales)




















Report of the Directors and

Financial Statements for the Year Ended 31 May 2024

for

Bath City Football Club Limited

Bath City Football Club Limited (Registered number: 00176565)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Balance Sheet 8

Notes to the Financial Statements 9


Bath City Football Club Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S L Morgan
A Pierce
J Reynolds
P Williams
N Blofeld
J Jones
J R Carlin
C White





SECRETARY: P Williams





REGISTERED OFFICE: Twerton Park
Twerton
Bath
Avon
BA2 1DB





REGISTERED NUMBER: 00176565 (England and Wales)

Bath City Football Club Limited (Registered number: 00176565)

Report of the Directors
for the Year Ended 31 May 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

S L Morgan
A Pierce
J Reynolds
P Williams
N Blofeld
J Jones

Other changes in directors holding office are as follows:

J Bickley - resigned 12 July 2023
C Bradley - resigned 22 June 2023
P J Headington - resigned 5 July 2023
J R Carlin - appointed 4 July 2023
C White - appointed 9 February 2024

GOING CONCERN
The directors have considered the going concern basis of the Company in light of current events affecting the economy within the United Kingdom, and the current status of the Company's external financing arrangements. The directors have considered all aspects of the Company's business when looking at the going concern status.

The finance facilities in place were due to mature in May 2024. Whilst the majority of the loans have been extended for a further 5 years to 31 May 2029, the Company is reliant upon the support of the lenders to not seek repayment of amounts loaned unless the Company has sufficient funds available to do so.

The directors have produced cashflow forecasts for the next 12 months that show a further cash outflow for that period, leaving little headroom in banking facilities. The directors have considered cost saving measures and regularly review financial position of the Company in order to determine which cost saving measures should be implemented and when.

The Company has net current liabilities and net liabilities at the year end, along with a history of recurring losses (notwithstanding the profit made in the year to 31 May 2024), with further losses projected. Notwithstanding this, the directors believe the company has adequate working resources for the next twelve months, along with planned cost saving measures to enable the Company to continue operating for the foreseeable future and meet its day-to-day operating liabilities as they fall due. Therefore, on this expectation, the directors conclude the going concern basis is appropriate.

However, the directors note that due to the uncertainty regarding the future payment of loans as they fall due, there exists a material uncertainty that would result in the going concern basis being inappropriate should the lenders no longer defer the repayment of loans. In this instance, the Company might not be able to realise its assets and discharge its liabilities in the normal course of business.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Bath City Football Club Limited (Registered number: 00176565)

Report of the Directors
for the Year Ended 31 May 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Sumer Auditco Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

SIGNED BY ORDER OF THE DIRECTORS:



P Williams - Secretary


14 March 2025

Report of the Independent Auditors to the Members of
Bath City Football Club Limited

Opinion
We have audited the financial statements of Bath City Football Club Limited (the 'company') for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty relating to going concern
In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 2 to the financial statements concerning the company's ability to continue as a going concern. The Company's ability to meet its liabilities as they fall due is dependent upon loans granted to the Company not being called when they fall due. As stated in note 2, these events or conditions, along with other matters as set forth in note 2 indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.

The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Bath City Football Club Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, International Financial Reporting Standards, and UK taxation legislation.

We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Bath City Football Club Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Cunningham (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Ltd
Statutory Auditors
30 Gay Street
Bath
Somerset
BA1 2PA

14 March 2025

Bath City Football Club Limited (Registered number: 00176565)

Income Statement
for the Year Ended 31 May 2024

2024 2023
Notes £    £   

TURNOVER 1,018,198 860,944

Cost of sales 107,513 99,838
GROSS PROFIT 910,685 761,106

Administrative expenses 903,940 858,638
OPERATING PROFIT/(LOSS) 4 6,745 (97,532 )

Interest receivable and similar income 9 104
6,754 (97,428 )

Interest payable and similar expenses 2,381 2,008
PROFIT/(LOSS) BEFORE TAXATION 4,373 (99,436 )

Tax on profit/(loss) - -
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 4,373 (99,436 )

Bath City Football Club Limited (Registered number: 00176565)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 331,528 330,850

CURRENT ASSETS
Stocks 3,645 3,800
Debtors 6 43,260 49,392
Cash at bank and in hand 56,627 9,732
103,532 62,924
CREDITORS
Amounts falling due within one year 7 351,749 1,278,303
NET CURRENT LIABILITIES (248,217 ) (1,215,379 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,311

(884,529

)

CREDITORS
Amounts falling due after more than one
year

8

1,076,920

113,453
NET LIABILITIES (993,609 ) (997,982 )

CAPITAL AND RESERVES
Called up share capital 800,000 800,000
Revaluation reserve 9 231,742 231,742
Retained earnings (2,025,351 ) (2,029,724 )
SHAREHOLDERS' FUNDS (993,609 ) (997,982 )

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





P Williams - Director


Bath City Football Club Limited (Registered number: 00176565)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Bath City 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.

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.

Going concern

The directors have considered the going concern basis of the Company in light of current events affecting the economy within the United Kingdom, and the current status of the Company's external financing arrangements. The directors have considered all aspects of the Company's business when looking at the going concern status.

The finance facilities in place were due to mature in May 2024. Whilst the majority of the loans have, subsequent to the year end, been extended for a further 5 years to 31 May 2029, the Company is reliant upon the support of the lenders to not seek repayment of amounts loaned unless the Company has sufficient funds available to do so.

The directors have produced cashflow forecasts for the next 12 months that show a further cash outflow for that period, leaving little headroom in banking facilities. The directors have considered cost saving measures and regularly review financial position of the Company in order to determine which cost saving measures should be implemented and when.

The Company has net current liabilities and net liabilities at the year end, along with a history of recurring losses (notwithstanding the profit made in the year to 31 May 2024), with further losses projected. Notwithstanding this, the directors believe the company has adequate working resources for the next twelve months, along with planned cost saving measures to enable the Company to continue operating for the foreseeable future and meet its day-to-day operating liabilities as they fall due. Therefore, on this expectation, the directors conclude the going concern basis is appropriate.

However, the directors note that due to the uncertainty regarding the future payment of loans as they fall due, there exists a material uncertainty that would result in the going concern basis being inappropriate should the lenders no longer defer the repayment of loans. In this instance, the Company might not be able to realise its assets and discharge its liabilities in the normal course of business.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Fixed assets
The freehold property is recorded at its 2002 valuation less depreciation. The company has taken advantage of the transitional arrangements related to the introduction of FRS 102 to treat that valuation as deemed cost. All other fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property - 2% straight line
Fixtures & Fittings - 10% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Bath City Football Club Limited (Registered number: 00176565)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 12,564 12,853

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 June 2023 528,493 128,537 657,030
Additions 11,879 1,363 13,242
Disposals - (86,377 ) (86,377 )
At 31 May 2024 540,372 43,523 583,895
DEPRECIATION
At 1 June 2023 209,671 116,509 326,180
Charge for year 10,434 2,130 12,564
Eliminated on disposal - (86,377 ) (86,377 )
At 31 May 2024 220,105 32,262 252,367
NET BOOK VALUE
At 31 May 2024 320,267 11,261 331,528
At 31 May 2023 318,822 12,028 330,850

The freehold property was revalued by Osmond Tricks Property Consultants to £500,000 at 13 December 2002. The company applied the transitional arrangements of Section 35 of FRS 102 and used this valuation as deemed cost. The property is being depreciated from the valuation date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,424 17,819
Other debtors 28,836 31,573
43,260 49,392

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,901 17,458
Trade creditors 39,274 24,830
Taxation and social security 28,069 20,463
Other creditors 266,505 1,215,552
351,749 1,278,303

Included in other creditors due under one year in the prior year were loan amounts totalling £981,997 that, at the year end, were due for repayment within 12 months. Subsequent to the year end, the loans were renegotiated and are now due for repayment by 31 May 2029.

Bath City Football Club Limited (Registered number: 00176565)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,170 46,171
Other creditors 1,047,750 67,282
1,076,920 113,453

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,130 11,850

The bank loan of £11,059 from National Westminster Bank is secured over the freehold property.

Other creditors of £1,046,986 (2023 £1,047,486) are secured by a fixed and floating charge against the freehold property and undertakings of the company.

9. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 231,742

10. ULTIMATE CONTROLLING PARTY

The company was under the control of Bath City Supporters Society Limited during the year.

11. TRANSACTIONS WITH THE DIRECTORS

Included in sales are £1,370 (2023: £450) made to A J M Pet Products Limited, £3,800 (2023: £3,750) made to J Reynolds (Western) Limited and £1,944 (2023: £1,500) made to Anthem Publishing Limited. There were no balances outstanding at the year end. Included in creditors at the year end is a loan from Bath City Supporters Society for £74,302 (2023: £74,302).

Included in administrative expenses is £25,730 (2023: £nil) of expenditure to J Reynolds (Western) Limited.

The companies are related by way of directors, S Morgan, N Blofeld, J Bickley, J Saunders, P Headington, (Bath City Supporters Society) J Reynolds (J Reynolds (Western) Limited), J Bickley (Anthem Publishing Limited) and A Pierce (A J M Pet Products Limited).

The loan account balances of current directors, at the year end were: A Pierce £225,250 (2023: £225,250), P Williams £225,250 (2023: £225,250), J Reynolds £63,695 (2023: £63,695), J Bickley £10,000 (2023: £10,000). No interest was charged on the loans.

There were also donations made by directors in the year being A Pierce £3,724 (2023: £4,810), P Williams £3,237 (2023: £10,676), Anthem Publishing Limited £2,000 (2023: £,6000), and J Reynolds £1,700 (2023: £nil).