BURY FOOTBALL CLUB (2019) LTD |
Notes to the Accounts |
for the year ended 30 June 2024 |
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1 |
Statutory information |
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BURY FOOTBALL CLUB (2019) LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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Gigg Lane |
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Bury |
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Lancs |
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BL9 9HR |
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2 |
Accounting policies |
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Basis of preparation |
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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. |
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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 £. |
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Turnover |
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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. |
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Going concern |
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At the time of signing these accounts, having considered the economic climate, the Directors |
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expectations and intentions for the next twelve months,and the availability of working capital, the |
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Directors are of the opinion that the Company will remain viable for the forseeable future and |
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therefore these Financial Statements have been prepared on the Going Concern basis. |
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Tangible fixed assets |
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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: |
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Fixtures, fittings, tools and equipment |
over 5 years |
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3 G Pitch |
over 10 years |
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Stocks |
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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. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. |
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Provisions |
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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. |
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Grants |
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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. |
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Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure. |
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Foreign currency translation |
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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. |
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Leased assets |
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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. |
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3 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
31 |
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26 |
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4 |
Tangible fixed assets |
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Plant and machinery etc |
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3 G Pitch |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 July 2023 |
11,305 |
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- |
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11,305 |
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Additions |
43,021 |
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644,683 |
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687,704 |
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At 30 June 2024 |
54,326 |
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644,683 |
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699,009 |
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Depreciation |
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At 1 July 2023 |
3,425 |
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- |
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3,425 |
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Charge for the year |
5,596 |
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- |
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5,596 |
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At 30 June 2024 |
9,021 |
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- |
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9,021 |
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Net book value |
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At 30 June 2024 |
45,305 |
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644,683 |
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689,988 |
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At 30 June 2023 |
7,880 |
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- |
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7,880 |
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Depreciation has not been charged on the 3G pitch as it was incomplete at the year end. |
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5 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
69,453 |
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14,100 |
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Prepayments and accrued income |
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10,236 |
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- |
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Loan - Bury AFC Community Trust |
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5,000 |
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5,000 |
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VAT |
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54,926 |
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881 |
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Other debtors |
34,258 |
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11,118 |
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173,873 |
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31,099 |
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6 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Grant |
45,000 |
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- |
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Accruals and deferred income |
103,060 |
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- |
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Trade creditors |
36,955 |
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17,478 |
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Amounts owed to group undertakings |
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150,000 |
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20,000 |
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Taxation and social security costs |
2,195 |
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509 |
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Other creditors |
921 |
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56,074 |
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338,131 |
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94,061 |
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7 |
Creditors: amounts falling due after one year |
2024 |
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2023 |
£ |
£ |
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Long term grant |
405,000 |
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- |
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The grant is being recognised over the life of the 3g pitch to which it relates. |
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8 |
Capital contribution reserve |
2024 |
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2023 |
£ |
£ |
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At the beginning of the year |
- |
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- |
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Additions |
320,000 |
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- |
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320,000 |
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- |
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9 |
Related party transactions |
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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. |
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At 30 June 2024 £32,516 was owed to the company from The Bury Football Club Company Limited |
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an associated undertaking. |
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10 |
Controlling party |
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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 |
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office is: |
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Gigg Lane |
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Bury |
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Lancs |
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BL9 9HR |
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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. |
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11 |
Post Balance Sheet Event |
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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. |
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12 |
Disclosure under section 444(5B) of the companies act 2006 |
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The Report of the Auditors was unqualified. |
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Diccon Thornely (Senior Statutory Auditor) |
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for and on behalf of Sedulo Audit Limited |
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20 February 2025 |