8 7 Devon County FA Property Management Limited 06942343 false 2024-01-01 2024-06-30 2024-06-30 The principal activity of the company is the management of the club house and football ground at Coach Road, Newton Abbot. Digita Accounts Production Advanced 6.30.9574.0 true 06942343 2024-01-01 2024-06-30 06942343 2024-06-30 06942343 core:CurrentFinancialInstruments 2024-06-30 06942343 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 06942343 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 06942343 core:FurnitureFittings 2024-06-30 06942343 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 06942343 core:PlantMachinery 2024-06-30 06942343 bus:SmallEntities 2024-01-01 2024-06-30 06942343 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-06-30 06942343 bus:FilletedAccounts 2024-01-01 2024-06-30 06942343 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-06-30 06942343 bus:RegisteredOffice 2024-01-01 2024-06-30 06942343 bus:Director6 2024-01-01 2024-06-30 06942343 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-06-30 06942343 core:FurnitureFittings 2024-01-01 2024-06-30 06942343 core:LandBuildings 2024-01-01 2024-06-30 06942343 core:LandBuildings core:LongLeaseholdAssets 2024-01-01 2024-06-30 06942343 core:PlantMachinery 2024-01-01 2024-06-30 06942343 countries:EnglandWales 2024-01-01 2024-06-30 06942343 2023-12-31 06942343 core:FurnitureFittings 2023-12-31 06942343 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 06942343 core:PlantMachinery 2023-12-31 06942343 2023-01-01 2023-12-31 06942343 2023-12-31 06942343 core:CurrentFinancialInstruments 2023-12-31 06942343 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06942343 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 06942343 core:FurnitureFittings 2023-12-31 06942343 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 06942343 core:PlantMachinery 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 06942343

Devon County FA Property Management Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2024 to 30 June 2024

 

Devon County FA Property Management Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Devon County FA Property Management Limited

(Registration number: 06942343)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

26,089

27,519

Current assets

 

Stocks

5

5,373

3,365

Debtors

6

31,736

14,014

Cash at bank and in hand

 

152,787

118,857

 

189,896

136,236

Creditors: Amounts falling due within one year

7

(16,856)

(7,582)

Net current assets

 

173,040

128,654

Total assets less current liabilities

 

199,129

156,173

Creditors: Amounts falling due after more than one year

7

(199,128)

(156,172)

Net assets

 

1

1

Capital and reserves

 

Called up share capital

1

1

Shareholders' funds

 

1

1

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 


Mr J D Street
Director

 

Devon County FA Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
County Headquarters
Coach Road
Newton Abbot
Devon
TQ12 1EJ

Principal activity

The principal activity of the company is the management of the club house and football ground at Coach Road, Newton Abbot.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Devon County FA Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold property

over the life of the lease

Plant and machinery

25% reducing balance

Fixtures and fittings

10% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Devon County FA Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 8 (2023 - 7).

 

Devon County FA Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024 (continued)

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

26,434

28,959

2,735

58,128

At 30 June 2024

26,434

28,959

2,735

58,128

Depreciation

At 1 January 2024

13,230

15,349

2,030

30,609

Charge for the period

661

681

88

1,430

At 30 June 2024

13,891

16,030

2,118

32,039

Carrying amount

At 30 June 2024

12,543

12,929

617

26,089

At 31 December 2023

13,204

13,610

705

27,519

Included within the net book value of land and buildings above is £12,543 (2023 - £13,204) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Raw materials and consumables

5,373

3,365

6

Debtors

2024
£

2023
£

Trade debtors

28,743

11,970

Other debtors

-

1,841

Accrued income

2,993

203

31,736

14,014

 

Devon County FA Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,734

4,744

Taxation and social security

3,356

1,290

Accruals and deferred income

1,766

1,548

16,856

7,582

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

199,128

156,172

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.