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REGISTERED NUMBER: 08729505 (England and Wales)













Financial Statements

for the Year Ended 30 July 2024

for

Durham Women's Football Club Ltd

Durham Women's Football Club Ltd (Registered number: 08729505)






Contents of the Financial Statements
for the Year Ended 30 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Durham Women's Football Club Ltd

Company Information
for the Year Ended 30 July 2024







DIRECTORS: L Sanders
D Hepple
P Connolly
F Connolly



REGISTERED OFFICE: Kepier House
Belmont Business Park
Durham
County Durham
DH1 1TW



REGISTERED NUMBER: 08729505 (England and Wales)



SENIOR STATUTORY AUDITOR: Simon Hook FCCA



AUDITORS: Clive Owen LLP
Chartered Accountants and Statutory Auditors
Kepier House
Belmont Business Park
Durham
DH1 1TW

Durham Women's Football Club Ltd (Registered number: 08729505)

Balance Sheet
30 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,125 675

CURRENT ASSETS
Debtors 5 353 5,170

CREDITORS
Amounts falling due within one year 6 (75,964 ) (118,492 )
NET CURRENT LIABILITIES (75,611 ) (113,322 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(74,486

)

(112,647

)

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (74,487 ) (112,648 )
SHAREHOLDERS' FUNDS (74,486 ) (112,647 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by:





D Hepple - Director


Durham Women's Football Club Ltd (Registered number: 08729505)

Notes to the Financial Statements
for the Year Ended 30 July 2024

1. STATUTORY INFORMATION

Durham Women's Football Club 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The financial statements are prepared on the going concern basis, which assumes that the company will continue to trade. The company has suffered recurring losses pre donations which raises a material uncertainty about its ability to continue as a going concern. However the company received further investment in December 2024 and had an ownership change in August 2024. Based on these two events the directors believe it is likely the company will be able to meet their financial obligations.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those concluded under market conditions.

Durham Women's Football Club Ltd (Registered number: 08729505)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents ticket sales, sponsorship, merchandise sales, player sales and prize money receivable. There is also other funding receivable from various sources included in other income.

Income Recognition
Ticket revenue
Ticket revenue is recognised in respect of all football matches played during the current season.

Sponsorship income
Sponsorship income is recognised in accordance with the terms in the agreement.

Prize money
Prize money is recognised as it is received by the club.

Funding income
Funding income is received annually and recognised evenly over the football season to which it relates.

Merchandise sales
Merchandise sales are recognised at point of sale.

Player sales
Player sales are recognised at point of sale.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 3 years.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account except to the extent that it relates to items recognised in comprehensive income or directly to equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Durham Women's Football Club Ltd (Registered number: 08729505)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 31 July 2023 900
Additions 900
At 30 July 2024 1,800
AMORTISATION
At 31 July 2023 225
Amortisation for year 450
At 30 July 2024 675
NET BOOK VALUE
At 30 July 2024 1,125
At 30 July 2023 675

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 352 -
Other debtors 1 5,170
353 5,170

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 60,984 86,007
Trade creditors 1,278 6,000
Taxation and social security 1,993 16,047
Other creditors 3,143 1,872
Directors' current accounts 2,565 2,565
Accruals and deferred income 6,001 6,001
75,964 118,492

Durham Women's Football Club Ltd (Registered number: 08729505)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £0.10 1 1

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

The Report of the Auditors was unqualified.

Simon Hook FCCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

9. RELATED PARTY DISCLOSURES

There are no related party transactions not concluded at market rate except for the following:

2024 2023
£    £   

Amounts due to directors 2,565 2,565


No interest was charged.

10. POST BALANCE SHEET EVENTS

As at 1 August 2024, the company's entire shareholding was purchased by the director L Sanders. As at 17 December 2024, the company received additional funding. Shares were allotted to two individuals and the amount received for this was £500,000.

11. PARENT COMPANY

The company's immediate parent company in the period of review was Durham University Enterprise Ltd, a limited company registered in England and Wales. Their registered office is The Mountjoy Centre, Stockton Road, Durham, DH1 3LE. However on 1 August 2024, Durham University Enterprise Ltd sold their shares in the company and is no longer the parent company, the company no longer has a parent company.

12. ULTIMATE PARENT COMPANY

The company's ultimate parent company in the year of review was the University of Durham, a charitable organisation registered in England and Wales. Their registered office is The Mountjoy Centre, Stockton Road, Durham, DH1 3LE. No other group financial statements include the results of the company. As mentioned above, this changed on 1 August 2024 when the University of Durham was no longer the ultimate parent company.