Company registration number 07113379 (England and Wales)
YEOVIL TOWN HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
YEOVIL TOWN HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
YEOVIL TOWN HOLDINGS LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
454,850
Creditors: amounts falling due within one year
4
(1,500)
(2,990)
Net current (liabilities)/assets
(1,500)
451,860
Capital and reserves
Called up share capital
1,707,214
1,707,214
Profit and loss reserves
(1,708,714)
(1,255,354)
Total equity
(1,500)
451,860
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 25 March 2025
Mr M Hellier
Director
Company registration number 07113379 (England and Wales)
YEOVIL TOWN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Yeovil Town Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Yeovil Football & Athletic Club, Huish Park, Lufton Way, YEOVIL, Somerset.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
At the reporting date the company’s balance sheet reflects a net liabilities position following the provision for a doubtful debt which was due from the subsidiary. The directors have considered the future working capital requirements of the company and have concluded that the company is reliant on the wider group and ultimate controlling party, M Hellier. Given the activities within this business are limited the group and ultimate controlling party will be able to provide sufficient cash so as the business can continue to operate for a period of at least twelve months from the date of approval. As a result, the directors have prepared the financial statements on a going concern basis.true
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
YEOVIL TOWN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
454,850
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,500
2,990
YEOVIL TOWN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
5
Charges
The company has registered floating charges with the English Sports Council covering the assets of this company and its subsidiary, for a secured term loan in a principal amount of £1,046,589 (2023: £1,030,515).
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
| give a true and fair view of the state of the company's affairs as at 30 June 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. |
Senior Statutory Auditor:
Joseph Doggrell BSc (Hons) FCA
Statutory Auditor:
Albert Goodman LLP
Date of audit report:
25 March 2025
7
Related party transactions
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
471,186
454,850
The following amounts were recognised as an expense in the period in respect of bad and doubtful debts due from related parties:
2024
2023
£
£
Entities over which the entity has control, joint control or significant influence
471,186
-
YEOVIL TOWN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
8
Parent company
The parent of the smallest group for which consolidated financial statements are drawn up of which Yeovil Town Holdings Limited is a member is Hellier Trading Group Limited, and its registered office address is Lupin Way, Yeovil, Somerset, United Kingdom, BA22 8WW.