Bromley FC (95) Ltd 31/05/2018 iXBRL

Bromley FC (95) Ltd 31/05/2018 iXBRL

BROMLEY F.C. (95) LIMITED - Company Information

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31/05/2018 2018-05-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-06-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 03060560 2017-06-01 2018-05-31 03060560 2018-05-31 03060560 2017-05-31 03060560 2016-06-01 2017-05-31 03060560 2017-05-31 03060560 core:LandBuildings core:OwnedOrFreeholdAssets 2017-06-01 2018-05-31 03060560 core:LandBuildings core:ShortLeaseholdAssets 2017-06-01 2018-05-31 03060560 core:PlantMachinery 2017-06-01 2018-05-31 03060560 core:FurnitureFittingsToolsEquipment 2017-06-01 2018-05-31 03060560 bus:Director1 2017-06-01 2018-05-31 03060560 core:LandBuildings core:OwnedOrFreeholdAssets 2017-05-31 03060560 core:LandBuildings core:ShortLeaseholdAssets 2017-05-31 03060560 core:PlantMachinery 2017-05-31 03060560 core:FurnitureFittingsToolsEquipment 2017-05-31 03060560 core:LandBuildings core:OwnedOrFreeholdAssets 2018-05-31 03060560 core:LandBuildings core:ShortLeaseholdAssets 2018-05-31 03060560 core:PlantMachinery 2018-05-31 03060560 core:FurnitureFittingsToolsEquipment 2018-05-31 03060560 core:AfterOneYear 2018-05-31 03060560 core:AfterOneYear 2017-05-31 03060560 core:WithinOneYear 2018-05-31 03060560 core:WithinOneYear 2017-05-31 03060560 core:ShareCapital 2018-05-31 03060560 core:ShareCapital 2017-05-31 03060560 core:RetainedEarningsAccumulatedLosses 2018-05-31 03060560 core:RetainedEarningsAccumulatedLosses 2017-05-31 03060560 core:LandBuildings core:OwnedOrFreeholdAssets 2017-05-31 03060560 core:LandBuildings core:ShortLeaseholdAssets 2017-05-31 03060560 core:PlantMachinery 2017-05-31 03060560 core:FurnitureFittingsToolsEquipment 2017-05-31 03060560 bus:Director1 2017-05-31 03060560 bus:Director1 2018-05-31 03060560 bus:Director1 2016-05-31 03060560 bus:Director1 2017-05-31 03060560 bus:Director1 2016-06-01 2017-05-31 03060560 bus:SmallEntities 2017-06-01 2018-05-31 03060560 bus:AuditExempt-NoAccountantsReport 2017-06-01 2018-05-31 03060560 bus:FullAccounts 2017-06-01 2018-05-31 03060560 bus:SmallCompaniesRegimeForAccounts 2017-06-01 2018-05-31 03060560 bus:PrivateLimitedCompanyLtd 2017-06-01 2018-05-31
Company registration number: 03060560
Bromley FC (95) Ltd
Unaudited filleted financial statements
31 May 2018
Bromley FC (95) Ltd
Contents
Statement of financial position
Notes to the financial statements
Bromley FC (95) Ltd
Statement of financial position
31 May 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 1,344,344 1,421,101
_______ _______
1,344,344 1,421,101
Current assets
Stocks 25,000 25,000
Debtors 6 210,502 133,026
Cash at bank and in hand 20,421 18,422
_______ _______
255,923 176,448
Creditors: amounts falling due
within one year 7 ( 450,540) ( 766,152)
_______ _______
Net current liabilities ( 194,617) ( 589,704)
_______ _______
Total assets less current liabilities 1,149,727 831,397
Creditors: amounts falling due
after more than one year 8 ( 2,982,629) ( 2,723,243)
_______ _______
Net liabilities ( 1,832,902) ( 1,891,846)
_______ _______
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account ( 1,842,902) ( 1,901,846)
_______ _______
Shareholders deficit ( 1,832,902) ( 1,891,846)
_______ _______
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 February 2019 , and are signed on behalf of the board by:
Mr J V Dolke
Director
Company registration number: 03060560
Bromley FC (95) Ltd
Notes to the financial statements
Year ended 31 May 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Office FF10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
As 31 May 2018 the company had an excess of liabilities over assets totalling £1,915,902. The company is dependant on the future financial support of its bankers, directors and other loan creditors. On the basis that this support is forth coming the directors also consider it appropriate for the financial statements to be prepared on a going concern basis.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Freehold property - 10 % straight line
Short leasehold property - 2 % straight line
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their 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.
Defined contribution plans
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. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2017: 34 ).
5. Tangible assets
Freehold property Short leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £ £
Cost
At 1 June 2017 479,991 1,092,470 94,067 161,377 1,827,905
Additions - 5,920 - 3,423 9,343
_______ _______ _______ _______ _______
At 31 May 2018 479,991 1,098,390 94,067 164,800 1,837,248
_______ _______ _______ _______ _______
Depreciation
At 1 June 2017 2,000 218,122 53,583 133,099 406,804
Charge for the year 24,000 21,952 18,020 22,128 86,100
_______ _______ _______ _______ _______
At 31 May 2018 26,000 240,074 71,603 155,227 492,904
_______ _______ _______ _______ _______
Carrying amount
At 31 May 2018 453,991 858,316 22,464 9,573 1,344,344
_______ _______ _______ _______ _______
At 31 May 2017 477,991 874,348 40,484 28,278 1,421,101
_______ _______ _______ _______ _______
6. Debtors
2018 2017
£ £
Trade debtors 112,949 65,431
Other debtors 97,553 67,595
_______ _______
210,502 133,026
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Bank loans and overdrafts 67,143 50,357
Trade creditors 215,628 485,161
Social security and other taxes 47,345 16,327
Other creditors 120,424 214,307
_______ _______
450,540 766,152
_______ _______
The debenture of £Nil (2016 - £9,350), in favour of National Westminster Bank plc, is charged upon the assets of the company.
8. Creditors: amounts falling due after more than one year
2018 2017
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,794,768 1,871,834
Other creditors 1,187,861 851,409
_______ _______
2,982,629 2,723,243
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr J V Dolke ( 18,965) 11,055 ( 7,910)
_______ _______ _______
2017
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr J V Dolke ( 22,787) 3,822 ( 18,965)
_______ _______ _______
10. Ultimate parent undertaking
The company's ultimate holding company is BFCH Limited.