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REGISTERED NUMBER: 07287894 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Martin Gray Football Academy Ltd

Martin Gray Football Academy Ltd (Registered number: 07287894)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Martin Gray Football Academy Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M D Gray
J Gray





REGISTERED OFFICE: Eastbourne Sports Complex
Bourne Avenue
DARLINGTON
Co Durham
DL1 1LJ





REGISTERED NUMBER: 07287894 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Martin Gray Football Academy Ltd (Registered number: 07287894)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,447 4,046
Tangible assets 5 164,754 96,151
Investment property 6 790,599 760,074
957,800 860,271

CURRENT ASSETS
Debtors 7 1,105,635 881,996
Cash at bank and in hand 85,943 367,968
1,191,578 1,249,964
CREDITORS
Amounts falling due within one year 8 245,641 329,515
NET CURRENT ASSETS 945,937 920,449
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,903,737

1,780,720

CREDITORS
Amounts falling due after more than one
year

9

(410,912

)

(491,754

)

PROVISIONS FOR LIABILITIES 12 (42,836 ) (24,937 )
NET ASSETS 1,449,989 1,264,029

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 1,449,889 1,263,929
SHAREHOLDERS' FUNDS 1,449,989 1,264,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Martin Gray Football Academy Ltd (Registered number: 07287894)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2025 and were signed on its behalf by:





M D Gray - Director


Martin Gray Football Academy Ltd (Registered number: 07287894)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Martin Gray Football Academy Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
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 that have been conducted under normal market conditions.

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

Income recognition
Income is recognised when the service has been provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


Martin Gray Football Academy Ltd (Registered number: 07287894)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023
and 30 June 2024 4,845
AMORTISATION
At 1 July 2023 799
Amortisation for year 1,599
At 30 June 2024 2,398
NET BOOK VALUE
At 30 June 2024 2,447
At 30 June 2023 4,046

Martin Gray Football Academy Ltd (Registered number: 07287894)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 13,814 31,854 98,802 14,231 158,701
Additions 23,655 91 86,784 2,879 113,409
Disposals - - (18,200 ) - (18,200 )
At 30 June 2024 37,469 31,945 167,386 17,110 253,910
DEPRECIATION
At 1 July 2023 380 12,083 39,215 10,872 62,550
Charge for year 5,141 3,189 27,558 2,168 38,056
Eliminated on disposal - - (11,450 ) - (11,450 )
At 30 June 2024 5,521 15,272 55,323 13,040 89,156
NET BOOK VALUE
At 30 June 2024 31,948 16,673 112,063 4,070 164,754
At 30 June 2023 13,434 19,771 59,587 3,359 96,151

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 760,074
Additions 30,525
At 30 June 2024 790,599
NET BOOK VALUE
At 30 June 2024 790,599
At 30 June 2023 760,074

Directors believe current valuation of investment property is reflective of market value of the property at year end.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 238,576 233,335
Other debtors 357,240 177,603
Directors' current accounts 505,011 459,590
Prepayments and accrued income 4,808 11,468
1,105,635 881,996

Martin Gray Football Academy Ltd (Registered number: 07287894)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 61,747 64,093
Trade creditors 31,526 46,862
Taxation and social security 145,991 209,464
Other creditors 3,836 6,676
Accruals and deferred income 2,541 2,420
245,641 329,515

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 57,709 24,840
Bank loans - 2-5 years 144,969 50,059
Bank loans more 5 yr by instal 208,234 416,855
410,912 491,754

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 208,234 416,855

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 25,400 26,476
Between one and five years 22,311 42,711
In more than five years 15,000 20,000
62,711 89,187

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Fixed asset loan - 7,828
Mortgage 448,024 476,000
448,024 483,828

Contains fixed and floating charge. Floating charge covers all the property or undertaking of the company.

Martin Gray Football Academy Ltd (Registered number: 07287894)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 42,836 24,937

Deferred
tax
£   
Balance at 1 July 2023 24,937
Accelerated capital allowances 16,552
Underprovision in PY 1,347
Balance at 30 June 2024 42,836

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
95 Ordinary A £1 95 95
5 Ordinary B £1 5 5
100 100

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
M D Gray
Balance outstanding at start of year 459,590 406,528
Amounts advanced 72,171 72,455
Amounts repaid (26,750 ) (19,393 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 505,011 459,590

No interest has been charged on the loan.