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Company registration number:
13675060
SWFC Community Programme Holdings Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2024
Thirlwell & Co Chartered Accountants
4 Church Street, Swinton, Mexborough, South Yorkshire, S64 8QA, United Kingdom
SWFC Community Programme Holdings Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of SWFC Community Programme Holdings Limited
Year ended
31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
SWFC Community Programme Holdings Limited
for the year ended
31 August 2024
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
SWFC Community Programme Holdings Limited
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
SWFC Community Programme Holdings Limited
and state those matters that we have agreed to state to the Board of Directors of
SWFC Community Programme Holdings Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
SWFC Community Programme Holdings Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
SWFC Community Programme Holdings Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
SWFC Community Programme Holdings Limited
. You consider that
SWFC Community Programme Holdings Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of SWFC Community Programme Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thirlwell & Co Chartered Accountants
4 Church Street
Swinton
Mexborough
South Yorkshire
S64 8QA
United Kingdom
Date:
28 May 2025
SWFC Community Programme Holdings Limited
Statement of Financial Position
31 August 2024
20242023
Note££
Fixed assets    
Tangible assets 5
900,555
 
951,287
 
Current assets    
Debtors 6
90,302
 
89,883
 
Cash at bank and in hand
42,854
 
26,141
 
133,156
 
116,024
 
Creditors: amounts falling due within one year 7
(205,268
)
(114,980
)
Net current (liabilities)/assets
(72,112
)
1,044
 
Total assets less current liabilities 828,443   952,331  
Creditors: amounts falling due after more than one year 8
(767,472
)
(865,521
)
Provisions for liabilities
(42,031
)
(49,005
)
Net assets
18,940
 
37,805
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
18,939
 
37,804
 
Shareholders funds
18,940
 
37,805
 
For the year ending
31 August 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
28 May 2025
, and are signed on behalf of the board by:
M Brameld
Director
Company registration number:
13675060
SWFC Community Programme Holdings Limited
Notes to the Financial Statements
Year ended
31 August 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Sheffield Wednesday Football Club
,
Hillsborough
,
Sheffield
,
S6 1SW
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of discounts and Value Added Tax.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer which is primarily when the user has enjoyed use of the facility.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 10 and 25 years
Plant and machinery
Straight line over 4 years

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.

Grants

Grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Grants are recognised using the accrual model and the performance model.
Under the accrual model, grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other receivable and payables and loans from related parties.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2023:
5.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 September 2023
981,397
 
7,274
 
988,671
 
Additions -  
5,700
 
5,700
 
At
31 August 2024
981,397
 
12,974
 
994,371
 
Depreciation      
At
1 September 2023
36,168
 
1,216
 
37,384
 
Charge
54,252
 
2,180
 
56,432
 
At
31 August 2024
90,420
 
3,396
 
93,816
 
Carrying amount      
At
31 August 2024
890,977
 
9,578
 
900,555
 
At 31 August 2023
945,229
 
6,058
 
951,287
 

6 Debtors

20242023
££
Trade debtors
21,058
 
23,129
 
Other debtors
69,244
 
66,754
 
90,302
 
89,883
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
1,310
  -  
Amounts owed to group undertakings and undertakings in which the company has a participating interest
110,004
 
82,485
 
Taxation and social security
3,610
 
870
 
Other creditors
90,344
 
31,625
 
205,268
 
114,980
 

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
767,472
 
865,521
 
Included in other creditors is deferred capital grants amounting to £767,472 (2023: £865,521) which will unwind over a period of 10 to 25 years until the year ended 31 August 2048.

9 Events after the end of the reporting period

The Company has begun to explore opportunities to further develop its new sports facility at the community site of the Jubilee Sports and Social Club on Clay Wheels Lane in Hillsborough, which opended in January 2023. A planning permission application has been submitted to construct further education/health facilities on the site which is intended to be funded by external funidng sources and assistance from its Parent Charity. The new development will increase the capacity for adults and children to attend the Charity's programmes and courses.

10 Controlling party

Sheffield Wednesday Football Club Community Programme is the parent undertaking of the smallest group which the Company belongs and for which group financial statements are prepared.
Copies of the accounts of Sheffield Wednesday Community Programme can be obtained from the Registered Office at Sheffield Wednesday Foobtall Club, Hillsborough, Sheffield, S6 1SW.