IRIS Accounts Production v25.1.0.734 02959001 Board of Directors Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029590012023-05-31029590012024-05-31029590012023-06-012024-05-31029590012022-05-31029590012022-06-012023-05-31029590012023-05-3102959001ns15:EnglandWales2023-06-012024-05-3102959001ns14:PoundSterling2023-06-012024-05-3102959001ns10:Director12023-06-012024-05-3102959001ns10:Director22023-06-012024-05-3102959001ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3102959001ns10:SmallEntities2023-06-012024-05-3102959001ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3102959001ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3102959001ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3102959001ns10:FullAccounts2023-06-012024-05-3102959001ns10:OrdinaryShareClass12023-06-012024-05-3102959001ns10:Director52023-06-012024-05-3102959001ns10:RegisteredOffice2023-06-012024-05-3102959001ns5:CurrentFinancialInstruments2024-05-3102959001ns5:CurrentFinancialInstruments2023-05-3102959001ns5:Non-currentFinancialInstruments2024-05-3102959001ns5:Non-currentFinancialInstruments2023-05-3102959001ns5:ShareCapital2024-05-3102959001ns5:ShareCapital2023-05-3102959001ns5:RetainedEarningsAccumulatedLosses2024-05-3102959001ns5:RetainedEarningsAccumulatedLosses2023-05-3102959001ns5:LeaseholdImprovements2023-06-012024-05-3102959001ns5:PlantMachinery2023-06-012024-05-3102959001ns5:FurnitureFittings2023-06-012024-05-3102959001ns5:ComputerEquipment2023-06-012024-05-3102959001ns5:LeaseholdImprovements2023-05-3102959001ns5:PlantMachinery2023-05-3102959001ns5:FurnitureFittings2023-05-3102959001ns5:ComputerEquipment2023-05-3102959001ns5:LeaseholdImprovements2024-05-3102959001ns5:PlantMachinery2024-05-3102959001ns5:FurnitureFittings2024-05-3102959001ns5:ComputerEquipment2024-05-3102959001ns5:LeaseholdImprovements2023-05-3102959001ns5:PlantMachinery2023-05-3102959001ns5:FurnitureFittings2023-05-3102959001ns5:ComputerEquipment2023-05-3102959001ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3102959001ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3102959001ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-05-3102959001ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-3102959001ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 02959001 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2024

for

CHORLEY FOOTBALL CLUB LIMITED

CHORLEY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02959001)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHORLEY FOOTBALL CLUB LIMITED

Company Information
for the Year Ended 31st May 2024







DIRECTORS: Mr P E N Yemoh
Mr J S Clarke
Mr J E Waldie





REGISTERED OFFICE: Victory Park
Duke Street
Chorley
Lancashire
PR7 3DU





REGISTERED NUMBER: 02959001 (England and Wales)





ACCOUNTANTS: BK Plus - Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

CHORLEY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02959001)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 206,694 154,000

CURRENT ASSETS
Stocks 5 930 4,500
Debtors 6 22,915 15,749
Cash at bank and in hand 19,646 2,213
43,491 22,462
CREDITORS
Amounts falling due within one year 7 430,395 511,148
NET CURRENT LIABILITIES (386,904 ) (488,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(180,210

)

(334,686

)

CREDITORS
Amounts falling due after more than one
year

8

79,194

148,364
NET LIABILITIES (259,404 ) (483,050 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (259,406 ) (483,052 )
SHAREHOLDERS' FUNDS (259,404 ) (483,050 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CHORLEY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02959001)

Balance Sheet - continued
31st May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th April 2025 and were signed on its behalf by:




Mr J E Waldie - Director



Mr P E N Yemoh - Director


CHORLEY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02959001)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Chorley Football Club Limited 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.

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 its parent company due to the company being a wholly owned subsidiary within the group.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the value of gate receipts, sponsorship and income from fundraising events, stated net of discounts and of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stand - 5% on cost
Plant and machinery - 10% on cost
Fixtures, fittings and equipment - 20% on cost
Computer equipment - 33.3% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions 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.

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.

CHORLEY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02959001)

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

2. ACCOUNTING POLICIES - continued

Going concern
The company continues to streamline its operating base and is committed to finding ways to increase sponsorship income and increase gate receipts in order to continue as a going concern.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and and Computer
Stand machinery equipment equipment Totals
£    £    £    £    £   
COST
At 1st June 2023 154,636 9,445 28,445 5,327 197,853
Additions 58,196 5,900 3,518 2,900 70,514
Disposals - (2,280 ) - - (2,280 )
At 31st May 2024 212,832 13,065 31,963 8,227 266,087
DEPRECIATION
At 1st June 2023 17,213 2,290 20,258 4,092 43,853
Charge for year 9,088 1,421 3,723 1,935 16,167
Eliminated on disposal - (627 ) - - (627 )
At 31st May 2024 26,301 3,084 23,981 6,027 59,393
NET BOOK VALUE
At 31st May 2024 186,531 9,981 7,982 2,200 206,694
At 31st May 2023 137,423 7,155 8,187 1,235 154,000

5. STOCKS
31.5.24 31.5.23
£    £   
Stocks 930 4,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 20,915 14,986
Other debtors 2,000 763
22,915 15,749

CHORLEY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02959001)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 100,993 99,577
Amounts owed to group undertakings 208,076 186,360
Social security and other taxes 16,120 22,370
VAT 11,118 17,334
Other creditors 1,768 60,558
Directors' current accounts - 46,609
Accruals & deferred income 92,320 78,340
430,395 511,148

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other loans - 1-2 years 7,944 -
Other loans - 2-5 years 14,250 15,920
Other loans more 5yrs instal 57,000 61,750
Amounts owed to group undertakings - 70,694
79,194 148,364

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 57,000 61,750

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1 2 2

10. RELATED PARTY DISCLOSURES

During the year , the intercompany balance owed to Reset Events Ltd of £462,853 has been written off to the profit and loss account.

11. ULTIMATE CONTROLLING PARTY

As at 31 May 2024, the company's parent company was Chorley Sporting Club Limited, and its ultimate parent company was Reset Events Ltd. Reset Events Ltd has a number of shareholders, none of whom have significant control of the company on an individual basis.