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REGISTERED NUMBER: 02414884 (England and Wales)










Financial Statements

for the Year Ended 31 December 2024

for

Connahs Quay Nomads FC Ltd

Connahs Quay Nomads FC Ltd (Registered number: 02414884)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Connahs Quay Nomads FC Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: G P Dewhurst



REGISTERED OFFICE: Aldford House
Park Lane
Bell Meadow Business Park
Chester
Cheshire
CH4 9EP



REGISTERED NUMBER: 02414884 (England and Wales)



AUDITORS: Haines Watts, Statutory Auditor
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS



BANKERS: Barclays Bank PLC
Flint Business Centre
21 Church Street
Flint
Flintshire
CH6 5AJ

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Balance Sheet
31 December 2024

31.12.24 31.12.23
as restated
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,990 16,847

CURRENT ASSETS
Debtors 5 4,312 79,240
Cash at bank and in hand 3,749 29,205
8,061 108,445
CREDITORS
Amounts falling due within one year 6 (117,688 ) (288,693 )
NET CURRENT LIABILITIES (109,627 ) (180,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(106,637

)

(163,401

)

CREDITORS
Amounts falling due after more than one
year

7

(1,288,899

)

(1,390,326

)
NET LIABILITIES (1,395,536 ) (1,553,727 )

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 9 (1,405,536 ) (1,563,727 )
SHAREHOLDERS' FUNDS (1,395,536 ) (1,553,727 )

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





G P Dewhurst - Director


Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Connahs Quay Nomads FC Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, together with the proceeds of competition winnings.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - over 5 years

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provision 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 trade and other receivables and cash and cash equivalents, are initially measured at transaction price, including transaction costs, and are then subsequently carried at amortised cost using the effective interest method, less provision for impairment, unless arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future lease receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current
carrying value amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of its liabilities.

Basic financial instruments, which include trade and other payables and bank and other loans are initially measured at their transaction price after transaction costs. When this constitute a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets:
Financial assets are derecognised when their contractual right to future cash flows expire, or are settled, or when the company transfers the asset and substantially all of the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities:

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Financial liabilities are derecognised when the company's contractual obligations expire, are discharged or cancelled.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Going concern
The financial statements for the year ended 31 December 2024 have resulted in a loss and the balance sheet shows net current liabilities with a deficit in shareholders funds.

The company is dependent on the ongoing support of G P Dewhurst, the ultimate controlling shareholder of the company, as detailed in the related party transactions note 10 of the financial statements.

The club continues to be reliant on substantial revenue from its participation in European football.
G P Dewhurst has given written guarantees that he will honour all liabilities to external creditors of the company.

G P Dewhurst has confirmed that he will give sufficient ongoing support to the company to enable it to continue in operational existence until at least 30 June 2026.

Accordingly the accounts have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 30 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 138,570 85,589 224,159
DEPRECIATION
At 1 January 2024 121,723 85,589 207,312
Charge for year 13,857 - 13,857
At 31 December 2024 135,580 85,589 221,169
NET BOOK VALUE
At 31 December 2024 2,990 - 2,990
At 31 December 2023 16,847 - 16,847

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
as restated
£    £   
Trade debtors 1,350 5,136
Amounts owed by participating interests 76 71,041
Other debtors 2,886 3,063
4,312 79,240

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
as restated
£    £   
Bank loans and overdrafts 55,948 56,505
Trade creditors 30,271 40,932
Taxation and social security 7,033 2,177
Other creditors 24,436 189,079
117,688 288,693

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
as restated
£    £   
Bank loans 2,182 10,871
Amounts owed to participating interests 1,286,717 1,379,455
1,288,899 1,390,326

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: as restated
£    £   
10,000 Ordinary £1 10,000 10,000

9. RESERVES
Retained
earnings
£   

At 1 January 2024 (1,563,727 )
Profit for the year 158,191
At 31 December 2024 (1,405,536 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Forshaw FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

Connahs Quay Nomads FC Ltd (Registered number: 02414884)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. RELATED PARTY DISCLOSURES

G P Dewhurst, a director and controlling party, is the ultimate controlling party of a number of other companies.

During the year the football club received loans from GP Dewhurst and companies which he controls of £291,903 (2023 - £270,799). An amount of £325,000 was written off the loan owed by the company to a company owned by G P Dewhurst. The balances due at the year end were £1,286,641 (2023 - £1,308,414). The loans from G P Dewhurst and 2 of the companies are interest free. The loan of £112,500 from the third company bears a 5% interest rate. The loans are with no fixed date for repayment, but repayment will be no earlier than 30 June 2025.