REGISTERED NUMBER: 08544721 (England and Wales)

Financial Statements

for the Year Ended 31 May 2024

for

Peterborough Sports Limited

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

8

Director:

T N Woodward

Registered office:

651 Lincoln Road

Peterborough

Cambs

PE1 3HA

Registered number:

08544721 (England and Wales)

Auditors:

Sumer Audit

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

Fixed assets

Intangible assets

5

-

-

Tangible assets

6

274,737

162,024

274,737

162,024

Current assets

Stocks

1,800

-

Debtors

7

1,249

370

Cash at bank

22,777

4,282

25,826

4,652

Creditors

Amounts falling due within one year

8

138,619

209,061

Net current liabilities

(112,793

)

(204,409

)

Total assets less current liabilities

161,944

(42,385

)

Creditors

Amounts falling due after more than one year

9

1,028,182

523,435

Net liabilities

(866,238

)

(565,820

)

Capital and reserves

Called up share capital

11

240,182

240,157

Retained earnings

(1,106,420

)

(805,977

)

Shareholders' funds

(866,238

)

(565,820

)

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 May 2026 and were signed by:

T N Woodward - Director

1.	Statutory information

Peterborough Sports 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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. These financial statements are the first financial statements of Peterborough Sports Limited prepared in accordance with FRS 102.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for net gate and ticket receipts, subscriptions, sponsorship revenue, FA and prize money and other commercial activities.

Turnover is the total amount excluding value added tax receivable by the company in the ordinary course of business.

Net gate and ticket receipts are recognised when the match is played: subscriptions and sponsorship revenue are recognised over the contract or sponsorship period.

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.

Playing staff have been fully amortised in the current year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings

-

50 year straight line

Plant and machinery etc.

-

15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Grants

Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of the grants is included in creditors as deferred income.

Where a grant does not specify performance conditions relating to expenditure on tangible fixed assets, it is recognised in income when the proceeds are received or receivable.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4.	Employees and directors

The average number of employees during the year was 20 (2023 - 17 ) .

5.	Intangible fixed assets

Other

intangible

assets

£

Cost

Additions

2,000

At 31 May 2024

2,000

Amortisation

Charge for year

2,000

At 31 May 2024

2,000

Net book value

At 31 May 2024

-

6.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 June 2023

390,324

3,040

393,364

Additions

100,000

18,150

118,150

At 31 May 2024

490,324

21,190

511,514

Depreciation

At 1 June 2023

231,340

-

231,340

Charge for year

3,180

2,257

5,437

At 31 May 2024

234,520

2,257

236,777

Net book value

At 31 May 2024

255,804

18,933

274,737

At 31 May 2023

158,984

3,040

162,024

7.

Debtors: amounts falling due within one year

2024

2023

(Unaudited)

£

£

Trade debtors

-

270

Other debtors

500

-

VAT

101

-

Called up share capital not paid

-

100

Prepayments

648

-

1,249

370

8.

Creditors: amounts falling due within one year

2024

2023

(Unaudited)

£

£

Bank loans and overdrafts

6,574

19,500

Trade creditors

8,164

-

Social security and other taxes

-

14,547

VAT

-

11,245

Other creditors

-

23,948

Accruals and deferred income

123,881

139,821

138,619

209,061

9.

Creditors: amounts falling due after more than one year

2024

2023

(Unaudited)

£

£

Bank loans

6,500

-

Other loans

-

485,435

Loans from group parties

958,807

-

Directors' loan accounts

62,875

38,000

1,028,182

523,435

10.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

(Unaudited)

£

£

Within one year

3,086

2,800

Between one and five years

12,343

12,343

In more than five years

136,290

139,375

151,719

154,518

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,182

Ordinary

£1

10,182

10,157

23,000

Preference

£1

230,000

230,000

240,182

240,157

12.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was qualified on the following basis:

Basis for qualified opinion

We were not appointed as auditor of the company until after 31 May 2024 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the stock quantities and valuations held at 31 May 2024 (£1,800) and 31 May 2023 (£nil).

We were also unable to satisfy ourselves by alternative means concerning the FA grants and deferred income valuations held at 31 May 2024 (£133,321 and £nil respectively) and 31 May 2023 (£29,286 and £133,321 respectively).

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Matters required to report by exception

M A East FCCA (Senior Statutory Auditor)

for and on behalf of Sumer Audit

13.	Contingent liabilities

The company receives grants from the Football Association (The FA) to help with stadium maintenance and development.

These grants all have a potential 10 year repayment clawback period from the date of receipt should the stadium cease to be used for football purposes.

Grant income has been recognised as Other operating income in the financial statements and a contingent liability for this repayment is recorded below.

Date Received

Expiry of clawback repayment

Amount Received

£

31 May 2019

31 May 2029

9,070

16 August 2019

16 August 2029

19,542

11 October 2019

11 October 2029

5,486

15 November 2019

15 November 2029

15,518

13 December 2019

13 December 2029

2,134

12 June 2020

12 June 2030

7,500

28 August 2020

28 August 2030

500

14 September 2020

14 September 2030

10,000

23 October 2020

23 October 2030

27,600

4 December 2020

4 December 2030

27,600

26 February 2021

26 February 2031

21,414

28 May 2021

28 May 2031

15,000

30 June 2021

30 June 2031

18,886

28 January 2022

28 January 2032

4,080

18 March 2022

18 March 2032

3,291

20 April 2022

20 April 2032

823

188,444

14.	Related party disclosures

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.

Pims Group holdings Limited (incorporated in England and Wales) is regarded by the directors as being the

company's ultimate parent company.

Consolidated accounts can be obtained from the parent company's registered office.

15.	Ultimate controlling party

The ultimate controlling party is T N Woodward.