28 01/07/2023 30/06/2024 2024-06-30 false false false false false false false true false false true false false false true true true false No description of principal activities is disclosed 2023-07-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03720814 2023-07-01 2024-06-30 03720814 2024-06-30 03720814 2023-06-30 03720814 2022-07-01 2023-06-30 03720814 2023-06-30 03720814 2022-06-30 03720814 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 03720814 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 03720814 bus:Director1 2023-07-01 2024-06-30 03720814 core:FurnitureFittingsToolsEquipment 2024-06-30 03720814 core:WithinOneYear 2024-06-30 03720814 core:WithinOneYear 2023-06-30 03720814 core:AfterOneYear 2024-06-30 03720814 core:AfterOneYear 2023-06-30 03720814 core:ShareCapital 2024-06-30 03720814 core:ShareCapital 2023-06-30 03720814 core:RetainedEarningsAccumulatedLosses 2024-06-30 03720814 core:RetainedEarningsAccumulatedLosses 2023-06-30 03720814 bus:OrdinaryShareClass1 core:ShareCapital 2024-06-30 03720814 bus:OrdinaryShareClass1 core:ShareCapital 2023-06-30 03720814 bus:SmallEntities 2023-07-01 2024-06-30 03720814 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 03720814 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03720814 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03720814 bus:FullAccounts 2023-07-01 2024-06-30
Company registration number: 03720814
Maidstone United Football Club Limited
Unaudited filleted financial statements
30 June 2024
Maidstone United Football Club Limited
Contents
Statement of financial position
Notes to the financial statements
Maidstone United Football Club Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 4,235 3,000
Debtors 4 573,984 329,377
Cash at bank and in hand 261,743 141,891
_______ _______
839,962 474,268
Creditors: amounts falling due
within one year 5 ( 695,840) ( 729,258)
_______ _______
Net current assets/(liabilities) 144,122 ( 254,990)
_______ _______
Total assets less current liabilities 144,122 ( 254,990)
Creditors: amounts falling due
after more than one year 6 ( 10,532) ( 19,921)
_______ _______
Net assets/(liabilities) 133,590 ( 274,911)
_______ _______
Capital and reserves
Called up share capital 7 2 2
Profit and loss account 133,588 ( 274,913)
_______ _______
Shareholders funds/(deficit) 133,590 ( 274,911)
_______ _______
For the year 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
Mr T Casey Mr O Ash
Director Director
Company registration number: 03720814
Maidstone United Football Club Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
Maidstone United Football Club Limited (Company number 03720814 ) is a private company limited by shares, registered in England and Wales. The address of the registered office is 67 College Road, Maidstone, Kent, ME15 6SX.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. Hence gate receipts are recognised when the match occurs and season tickets are recognised over the period to which they relate.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial Instruments
The company ony enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors and creditors, and loans from banks and other third parties.
2. Employee numbers
The average number of persons employed by the company, including directors, during the year amounted to 28 (2023: 29).
3. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2023 and 30 June 2024 5,118 5,118
_______ _______
Depreciation
At 1 July 2023 and 30 June 2024 5,118 5,118
_______ _______
Carrying amount
At 30 June 2024 - -
_______ _______
At 30 June 2023 - -
_______ _______
4. Debtors
2024 2023
£ £
Trade debtors 110,516 77,794
Amounts owed by group undertakings and undertakings in which the company has a participating interest 462,718 249,988
Other debtors 750 1,595
_______ _______
573,984 329,377
_______ _______
5. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,276 10,021
Trade creditors 23,788 9,122
Amounts owed to group undertakings and undertakings in which the company has a participating interest 22,398 114,591
Social security and other taxes 82,587 93,335
Other creditors 556,791 502,189
_______ _______
695,840 729,258
_______ _______
6. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 10,532 19,921
_______ _______
7. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
8. Directors advances, credits and guarantees
All loans made to the group of Maidstone United companies by the director's are held in the parent company, Maidstone United Football Club Holdings Limited.
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Maidstone United (Ground) Limited - 207,733 ( 22,398) ( 114,591)
Maidstone United FC Holdings Limited - - 462,718 249,988
_______ _______ _______ _______