Registered number
13907755
THE BURY FOOTBALL CLUB COMPANY LIMITED
Filleted Accounts
30 June 2024
THE BURY FOOTBALL CLUB COMPANY LIMITED
Registered number: 13907755
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Restated
Fixed assets
Intangible assets 4 3,000 4,000
Tangible assets 5 1,361,765 1,359,567
Heritage Assets 6 20,000 20,000
1,384,765 1,383,567
Current assets
Stocks - 7,690
Debtors 7 7,579 40,343
Cash at bank and in hand 8,498 25,565
16,077 73,598
Creditors: amounts falling due within one year 8 (52,766) (64,209)
Net current (liabilities)/assets (36,689) 9,389
Net assets 1,348,076 1,392,956
Capital and reserves
Capital Contribution Reserve 9 1,471,534 1,466,534
Profit and loss account (123,458) (73,578)
Shareholders' funds 1,348,076 1,392,956
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 J Woodhead
Director
Approved by the board on 20 February 2025
THE BURY FOOTBALL CLUB COMPANY LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Statutory information
THE BURY FOOTBALL CLUB COMPANY LIMITED is a private company limited by guarantee 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 stements 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any
accumulative impairment losses.
Amortised over 5 years
Tangible fixed assets
Tangible fixed assets are initially measured at cost to bring them into use, and subsequently measured at cost or valuation less accumulative depreciation and any accumulative impairment losses. Once they are brougt into use, depreciation is provided so as to write off the cost or valuation of assets less their residual values over its expected useful life, as follows:
Freehold land Not depreciated
Buildings 4% straight line
Fixtures, fittings, tools and equipment over 5 years
Heritage Assets
Heritge assets are initially measured at cost and subsequently at cost less any accumulative impairment losses. They are on permanent display at the ground.
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.
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 0 0
4 Intangible fixed assets
Intellectual Goodwill Total
property
£ £ £
Cost
At 1 July 2023 4,999 1 5,000
At 30 June 2024 4,999 1 5,000
Amortisation
At 1 July 2023 1,000 1,000
Provided during the year 1,000 - 1,000
At 30 June 2024 2,000 - 2,000
Net book value
At 30 June 2024 2,999 1 3,000
At 30 June 2023 3,999 1 4,000
Intellectual property is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 1 July 2023 1,347,471 26,348 1,373,819
Additions - 18,822 18,822
At 30 June 2024 1,347,471 45,170 1,392,641
Depreciation
At 1 July 2023 8,983 5,269 14,252
Charge for the year 8,984 7,640 16,624
At 30 June 2024 17,967 12,909 30,876
Net book value
At 30 June 2024 1,329,504 32,261 1,361,765
At 30 June 2023 1,338,488 21,079 1,359,567
The carrying vaue of land included within land and buildings, is £1,122,893
The freehold property is subject to a legal charge.
6 Heritage Assets
2024 2023
Heritage Assets
£ £
Cost
At 1 July 2023 20,000 20,000
Additions - -
At 30 June 2024 20,000 20,000
7 Debtors 2024 2023
£ £
Trade debtors 4,680 12,168
Amounts owed by group undertakings - 20,000
Other debtors 2,899 8,175
7,579 40,343
8 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 8,261
Amounts owed to associated undertakings 32,516 7,009
Taxation and social security costs - 3,795
Other creditors 20,250 45,144
52,766 64,209
9 Capital contribution reserves 2024 2023
£ £
Restated
At the beginning of the year 1,466,534 1,438,898
Bury Football Club Supporters Society 5,000 27,636
At 30 June 2024 1,471,534 1,466,534
Bury FC Benefactors Ltd provided the capital along with the government grant to enable the company to purchase the freehold land and buildings.
10 Related party transactions
At the 30 June 2024 there is an amount of £32,516 due on demand to Bury Football Club (2019)
Ltd an associated undertaking.
11 Controlling party
The company is a private company limited by guarantee with two equal members, Football Supporters' Society of Bury Limited a community benefit society regulated by the Financial Conduct Authority, and Bury FC Benefactors Limited, a private company limited by shares..
12 Prior Year Adjustment
The previous years accounts have been adjusted to correct the accounting treatment of the
monies received from the controlling party and has now been reclassified as a capital contribution.
£ £
Long term liability at 30 June 2023 in prior year accounts 689,550
Less: Reclassification as a capital contribution -689,550
Restated long term liability at 30 June 2023 -
Capital contribution reserve at 30 June 2023 in prior year accounts 776,984
Add: Capital contribution 689,550
Restated capital contribution reserve at 30 June 2023 1,466,534
13 Post Balance Sheet Event
The amount owed to Bury Football Club (2019) Ltd £32,516 has been repaid after the balance sheet date, following a further capital contribution from The Football Supporters' Society of Bury Limited.
14 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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