HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC005420

HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED

Unaudited Financial Statements

30 June 2024

HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED

Directors' Report

Year ended 30 June 2024

The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2024 .

Directors

The directors who served the company during the year were as follows:

Mr G Strain
Mr S Zengin

Dividends

The directors do not recommend the payment of a dividend.

This report was approved by the board of directors on 30 September 2025 and signed on behalf of the board by:

Mr S Zengin

Director

Registered office:

Broadwood Stadium

1 Ardgoil Drive

Cumbernauld

SCOTLAND

G68 9NE

HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED

Statement of Comprehensive Income

Year ended 30 June 2024

		2024	2023
Note		£	£
Turnover	4	3,734,278	1,987,720

Cost of sales	1,622,633	1,699,114
	------------	------------
Gross profit	2,111,645	288,606

Distribution costs		81,543	64,140
Administrative expenses		3,742,857	1,068,243
		------------	------------
Operating loss	5	( 1,712,755)	( 843,777)

Interest payable and similar expenses	9	–	1,094
		------------	------------
Loss before taxation		( 1,712,755)	( 844,871)

Tax on loss	10	137,787	( 113,396)
		------------	---------
Loss for the financial year and total comprehensive income		( 1,850,542)	( 731,475)
		------------	---------

All the activities of the company are from continuing operations.

HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED

Statement of Financial Position

30 June 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	11	456,328	413,325

Current assets

Stocks	12	13,257	13,257
Debtors	13	219,841	383,446
Cash at bank and in hand		6,700	145,256
		---------	---------
		239,798	541,959

Creditors: amounts falling due within one year	14	1,638,011	788,105
		------------	---------
Net current liabilities		1,398,213	246,146
		------------	---------
Total assets less current liabilities		( 941,885)	167,179

Creditors: amounts falling due after more than one year	15	1,182,792	1,165,905
		------------	------------
Net liabilities		( 2,124,677)	( 998,726)
		------------	------------

Capital and reserves

Called up share capital	17	573,757	573,757
Profit and loss account		( 2,698,434)	( 1,572,483)
		------------	------------
Shareholders deficit		( 2,124,677)	( 998,726)
		------------	------------

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 in accordance with the provisions applicable to companies subject to the small companies' regime.

HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED

Statement of Financial Position (continued)

30 June 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr S Zengin

Director

Company registration number: SC005420

HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED

Notes to the Financial Statements

Year ended 30 June 2024

1. General information

The company is a private company limited by shares, registered in SCOTLAND. The address of the registered office is Broadwood Stadium, 1 Ardgoil Drive, Cumbernauld, G68 9NE, SCOTLAND.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

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 sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Long leasehold property	-	10% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	10% straight line
Motor vehicles	-	20% reducing balance

	Leasehold Improvements	-	20% straight line

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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 stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Sale of goods	3,734,278	1,987,720
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating loss

Operating profit or loss is stated after charging/crediting:

	2024	2023
	£	£
Depreciation of tangible assets	81,543	46,667
(Gains)/loss on disposal of tangible assets	( 87,369)	8,509
Operating lease rentals	41,838	39,629
	--------	--------

6. Auditor's remuneration

	2024	2023
	£	£
Fees payable for the audit of the financial statements	–	7,500
	----	-------

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2024	2023
	No.	No.
Production staff	51	51
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	2,597,601	247,092
Social security costs	–	17,473
	------------	---------
	2,597,601	264,565
	------------	---------

8. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2024	2023
	£	£

9. Interest payable and similar expenses

	2024	2023
	£	£
Interest on banks loans and overdrafts	–	968
Other interest payable and similar charges	–	126
	----	-------
	–	1,094
	----	-------

10. Tax on loss

Major components of tax expense/(income)

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	137,787	( 113,396)
	---------	---------
Tax on loss	137,787	( 113,396)
	---------	---------

11. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 July 2023	129,610	584,086	112,273	9,000	834,969
Disposals	–	( 19,250)	–	–	( 19,250)
	---------	---------	---------	-------	---------
At 30 June 2024	129,610	564,836	112,273	9,000	815,719
	---------	---------	---------	-------	---------
Depreciation
At 1 July 2023	66,488	310,981	37,650	6,525	421,644
Disposals	–	( 62,253)	–	–	( 62,253)
	---------	---------	---------	-------	---------
At 30 June 2024	66,488	248,728	37,650	6,525	359,391
	---------	---------	---------	-------	---------
Carrying amount
At 30 June 2024	63,122	316,108	74,623	2,475	456,328
	---------	---------	---------	-------	---------
At 30 June 2023	63,122	273,105	74,623	2,475	413,325
	---------	---------	---------	-------	---------

12. Stocks

	2024	2023
	£	£
Raw materials and consumables	13,257	13,257
	--------	--------

13. Debtors

	2024	2023
	£	£
Trade debtors	95,068	137,640
Prepayments and accrued income	48,485	–
Other debtors	76,288	245,806
	---------	---------
	219,841	383,446
	---------	---------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	16,754	–
	--------	----

14. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	3,594	9,688
Trade creditors	701,091	180,965
Social security and other taxes	–	21,595
Other creditors	933,326	575,857
	------------	---------
	1,638,011	788,105
	------------	---------

15. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	47,792	23,438
Director loan accounts	4,000	–
Other creditors	1,131,000	1,142,467
	------------	------------
	1,182,792	1,165,905
	------------	------------

16. Deferred tax

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Deferred income	( 137,787)	( 113,396)
	---------	---------

17. Called up share capital

Issued and called up

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	573,757	573,757	573,757	573,757
	---------	---------	---------	---------

Shares issued and partly paid

	2024		2023
	No.	£	No.	£
Ordinary shares - £– paid of £ 1 each	573,757	–	573,757	–
	---------	----	---------	----