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Company registration number:
13675060
SWFC Community Programme Holdings Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2025
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 2025
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 2025
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 profit 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:
29 April 2026
SWFC Community Programme Holdings Limited
Statement of Financial Position
31 August 2025
20252024
as restated
Note££
Fixed assets    
Tangible assets 5
886,292
 
900,555
 
Current assets    
Debtors 6
74,155
 
83,574
 
Cash at bank and in hand
53,732
 
42,854
 
127,887
 
126,428
 
Creditors: amounts falling due within one year 7
(169,806
 )
(169,857
 )
Net current liabilities
(41,919
 )
(43,429
 )
Total assets less current liabilities 844,373   857,126  
Creditors: amounts falling due after more than one year 8
(724,842
 )
(767,472
 )
Provisions for liabilities
(35,999
 )
(42,031
 )
Net assets
83,532
 
47,623
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
83,531
 
47,622
 
Shareholders funds
83,532
 
47,623
 
For the year ending
31 August 2025
, 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
29 April 2026
, and are signed on behalf of the board by:
A Wallis
Director
Company registration number:
13675060
SWFC Community Programme Holdings Limited
Notes to the Financial Statements
Year ended
31 August 2025

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.
Capital grants are deferred and released to the income statement over the useful economic life of the related asset so as to match the depreciation charge on the asset constructed using the grants.

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.

Prior period adjustment

During the year, the directors reassessed the accounting treatment of a sinking fund provision previously recognised in the financial statements. Following discussions with the group auditors, it was determined that the sinking fund did not meet the recognition criteria for a provision under FRS 102 Section 21, as there was no present obligation at the reporting date. The item has therefore been reclassified as a contingent liability.
As a result, a prior period adjustment has been made to remove the cumulative provision of £35,411 from the balance sheet as at 31 August 2024. The opening balance of retained earnings at 1 September 2024 has been increased by £35,411. The comparative figures for the year ended 31 August 2024 have been restated accordingly.
As a result of the derecognition of the provision, the associated deferred tax liability of £8,853 has also been reversed. This adjustment has increased the opening balance of retained earnings at 1 September 2024 by a further £8,853. The comparative figures for the year ended 31 August 2024 have been restated accordingly.

4 Average number of employees

The average number of persons employed by the company during the year was
10
(2024:
6.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 September 2024
981,397
 
12,974
 
994,371
 
Additions
43,797
 
4,854
 
48,651
 
Disposals -  
(5,700
 )
(5,700
 )
At
31 August 2025
1,025,194
 
12,128
 
1,037,322
 
Depreciation      
At
1 September 2024
90,420
 
3,396
 
93,816
 
Charge
55,140
 
3,144
 
58,284
 
Disposals -  
(1,070
 )
(1,070
 )
At
31 August 2025
145,560
 
5,470
 
151,030
 
Carrying amount      
At
31 August 2025
879,634
 
6,658
 
886,292
 
At 31 August 2024
890,977
 
9,578
 
900,555
 

6 Debtors

20252024
as restated
££
Trade debtors
13,130
 
21,058
 
Other debtors
61,025
 
62,516
 
74,155
 
83,574
 

7 Creditors: amounts falling due within one year

20252024
as restated
££
Trade creditors
811
 
1,310
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
119,285
 
110,004
 
Taxation and social security
3,366
 
3,610
 
Other creditors
46,344
 
54,933
 
169,806
 
169,857
 

8 Creditors: amounts falling due after more than one year

20252024
££
Other creditors
724,842
 
767,472
 
Included in other creditors is deferred capital grants amounting to £724,842 (2024: £767,472) which will unwind over a period of 10 to 25 years until the year ended 31 August 2048.
The annual release of deferred capital grants is recognised within other operating income and is intended to match the depreciation charge on the related assets.

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 opened 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 funding 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 Football Club, Hillsborough, Sheffield, S6 1SW.

11 Contingent Liabilities

The company is party to a sinking fund arrangement under which funds are intended to be ringfenced for the future replacement of the 3G pitch carpet. While the directors acknowledge the potential for future outflows, there is currently no present obligation as defined by FRS 102 Section 21. Accordingly, no provision has been recognised in these financial statements.
Based on the directors’ assessment that the carpet may require replacement by August 2031, an estimated amount of £65,411 (2024: £35,411) has been identified as the anticipated cost of replacement. The directors will continue to monitor the condition of the pitch and reassess the need for recognition of a provision as further information becomes available.