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Registered Number:09397817













COLCHESTER UNITED COMMUNITY TRADING LIMITED




UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024











 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
REGISTERED NUMBER:09397817


BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Notes
£
£

Fixed assets
  

Tangible assets
 4 
19,032
8,195

  
19,032
8,195

Current assets
  

Debtors: amounts falling due within one year
 5 
17,321
23,815

Cash at bank and in hand
 6 
7,922
9,279

  
25,243
33,094

Creditors: amounts falling due within one year
 7 
(30,308)
(12,991)

Net current (liabilities)/assets
  
 
 
(5,065)
 
 
20,103

Total assets less current liabilities
  
13,967
28,298

Provisions for liabilities
  

Deferred tax
 8 
(4,498)
(2,544)

  
 
 
(4,498)
 
 
(2,544)

Net assets
  
9,469
25,754


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
 9 
9,468
25,753

  
9,469
25,754



- 1 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
REGISTERED NUMBER:09397817

    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 25 March 2025.



R A Cowling
Director

The notes on pages 3 to 9 form part of these financial statements.


- 2 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Colchester United Community Trading Limited (the "Company") is a company limited by shares, domiciled and incorporated in England and Wales. The address of the registered office is Jobserve Community Stadium, United Way, Mile End, Colchester, Essex CO4 5UP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

In making their going concern assessment, the Directors and management have prepared detailed forecasts which indicate that the Company will have sufficient financial resources to meet its liabilities as they fall due and to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements are prepared on the going concern basis.


- 3 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.


- 4 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Fixtures and fittings
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


- 5 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provision for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.10

Gift aid payments

Donations made under the gift aid scheme to the ultimate parent undertaking are recognised through the Statement of Changes in Equity, when paid following formal approval by the Board of Directors.


3.


Employees




The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
5
5


- 6 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2023
-
17,549
17,549


Additions
4,167
10,433
14,600



At 30 June 2024

4,167
27,982
32,149



Depreciation


At 1 July 2023
-
9,354
9,354


Charge for the year on owned assets
764
2,999
3,763



At 30 June 2024

764
12,353
13,117



Net book value



At 30 June 2024
3,403
15,629
19,032



At 30 June 2023
-
8,195
8,195


5.


Debtors

2024
2023
£
£


Trade debtors
17,288
5,166

Amounts owed by parent undertaking
-
18,048

Other debtors
33
601

17,321
23,815



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7,922
9,279



- 7 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,882
3,470

Amounts owed to related undertaking
23,646
9,041

Other taxation and social security
2,950
-

Accruals and deferred income
1,830
480

30,308
12,991



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(2,544)
(2,544)


Charged to profit or loss
(1,954)
-



At end of year
(4,498)
(2,544)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
4,498
2,544


9.


Reserves

Profit and loss account

The profit and loss account represents the Company's accumulated profits or losses, less distributions paid.


- 8 -



 
COLCHESTER UNITED COMMUNITY TRADING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Related party transactions

The Company has taken advantage of FRS 102 Section 33 "Related Party Disclosures" exemption permitting it to not disclose transactions with Group undertakings where 100% of the voting rights are controlled within the Group.
At the year end, the Company owed Colchester United Football Club Limited, a company related by common control, an amount of £5,253 (2023: £9,041).
During the year, the Company incurred management charges from Colchester United Football Club Limited amounting to £22,250 (2023: £11,250).


11.


Controlling party

The Company is controlled by the immediate and ultimate parent undertaking, Colchester United Community Foundation, a company limited by guarantee and a registered charity. 

 

- 9 -