Registered number
12282928
BURY FOOTBALL CLUB (2019) LTD
Filleted Accounts
30 June 2024
BURY FOOTBALL CLUB (2019) LTD
Registered number: 12282928
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 689,988 7,880
Current assets
Stocks 19,083 3,480
Debtors 5 173,873 31,099
Cash at bank and in hand 195,035 60,601
387,991 95,180
Creditors: amounts falling due within one year 6 (338,131) (94,061)
Net current assets 49,860 1,119
Total assets less current liabilities 739,848 8,999
Creditors: amounts falling due after more than one year 7 (405,000) -
Net assets 334,848 8,999
Capital and reserves
Called up share capital 75,000 75,000
Profit and loss account (60,152) (66,001)
Capital contribution reserve 8 320,000
Shareholders' funds 334,848 8,999
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.
The notes on pages 2 to 6 form part of these financial statements.
Mr M Howarth
Director
Approved by the board on 20 February 2025
BURY FOOTBALL CLUB (2019) LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Statutory information
BURY FOOTBALL CLUB (2019) LTD is a private company limited by shares and incorporated in England. Its registered office is:
Gigg Lane
Bury
Lancs
BL9 9HR
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the Companies Act 2006.
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 £.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Going concern
At the time of signing these accounts, having considered the economic climate, the Directors
expectations and intentions for the next twelve months,and the availability of working capital, the
Directors are of the opinion that the Company will remain viable for the forseeable future and
therefore these Financial Statements have been prepared on the Going Concern basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
3 G Pitch over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Grants
Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on fixed assets are recognised in income over the expected useful life of the asset. The deferred element of the grant is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 26
4 Tangible fixed assets
Plant and machinery etc 3 G Pitch Total
£ £ £
Cost
At 1 July 2023 11,305 - 11,305
Additions 43,021 644,683 687,704
At 30 June 2024 54,326 644,683 699,009
Depreciation
At 1 July 2023 3,425 - 3,425
Charge for the year 5,596 - 5,596
At 30 June 2024 9,021 - 9,021
Net book value
At 30 June 2024 45,305 644,683 689,988
At 30 June 2023 7,880 - 7,880
Depreciation has not been charged on the 3G pitch as it was incomplete at the year end.
5 Debtors 2024 2023
£ £
Trade debtors 69,453 14,100
Prepayments and accrued income 10,236 -
Loan - Bury AFC Community Trust 5,000 5,000
VAT 54,926 881
Other debtors 34,258 11,118
173,873 31,099
6 Creditors: amounts falling due within one year 2024 2023
£ £
Grant 45,000 -
Accruals and deferred income 103,060 -
Trade creditors 36,955 17,478
Amounts owed to group undertakings 150,000 20,000
Taxation and social security costs 2,195 509
Other creditors 921 56,074
338,131 94,061
7 Creditors: amounts falling due after one year 2024 2023
£ £
Long term grant 405,000 -
The grant is being recognised over the life of the 3g pitch to which it relates.
8 Capital contribution reserve 2024 2023
£ £
At the beginning of the year - -
Additions 320,000 -
320,000 -
9 Related party transactions
There is an intercompany balance due on demand with the Football Supporters' Society of Bury Limited, the company which has control. A balance of £150,000 was owed to the Football Supporters' Society of Bury Limited at 30 June 2024.
At 30 June 2024 £32,516 was owed to the company from The Bury Football Club Company Limited
an associated undertaking.
10 Controlling party
The company is controlled by the Football Supporters' Society of Bury Limited a company incorporated in England and Wales by way of it owning all of the issued share capital. Its registered
office is:
Gigg Lane
Bury
Lancs
BL9 9HR
The Board consider that the preparation of consolidated group accounts is inappropriate as the business of the company and its holding company are so different that they cannot reasonably be treated as a single undertaking.
11 Post Balance Sheet Event
The amount owed from The Bury Football Club Company Limited of £32,516 has been repaid after the balance sheet date, following a further capital contribution from The Football Supporters' Society of Bury Limited.
12 Disclosure under section 444(5B) of the companies act 2006
The Report of the Auditors was unqualified.
Diccon Thornely (Senior Statutory Auditor)
for and on behalf of Sedulo Audit Limited
20 February 2025
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