Ashton United Football Club Limited Filleted accounts for Companies House (small and micro)

ASHTON UNITED FOOTBALL CLUB LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2018-06-01 Sage Accounts Production Advanced 2019 - FRS102_2014 133 133 133 xbrli:pure xbrli:shares iso4217:GBP 02471345 2018-06-01 2019-05-31 02471345 2019-05-31 02471345 2018-05-31 02471345 2017-06-01 2018-05-31 02471345 2018-05-31 02471345 core:FurnitureFittings 2018-06-01 2019-05-31 02471345 bus:Director10 2018-06-01 2019-05-31 02471345 core:LandBuildings 2018-05-31 02471345 core:FurnitureFittings 2018-05-31 02471345 core:LandBuildings 2019-05-31 02471345 core:FurnitureFittings 2019-05-31 02471345 core:WithinOneYear 2019-05-31 02471345 core:WithinOneYear 2018-05-31 02471345 core:ShareCapital 2019-05-31 02471345 core:ShareCapital 2018-05-31 02471345 core:SharePremium 2019-05-31 02471345 core:SharePremium 2018-05-31 02471345 core:RevaluationReserve 2019-05-31 02471345 core:RevaluationReserve 2018-05-31 02471345 core:RetainedEarningsAccumulatedLosses 2019-05-31 02471345 core:RetainedEarningsAccumulatedLosses 2018-05-31 02471345 core:CostValuation core:Non-currentFinancialInstruments 2019-05-31 02471345 core:Non-currentFinancialInstruments 2019-05-31 02471345 core:Non-currentFinancialInstruments 2018-05-31 02471345 core:LandBuildings 2018-05-31 02471345 core:FurnitureFittings 2018-05-31 02471345 bus:SmallEntities 2018-06-01 2019-05-31 02471345 bus:AuditExempt-NoAccountantsReport 2018-06-01 2019-05-31 02471345 bus:FullAccounts 2018-06-01 2019-05-31 02471345 bus:SmallCompaniesRegimeForAccounts 2018-06-01 2019-05-31 02471345 bus:PrivateLimitedCompanyLtd 2018-06-01 2019-05-31

COMPANY REGISTRATION NUMBER: 02471345

Ashton United Football Club Limited

Filleted Unaudited Financial Statements

31 May 2019

Ashton United Football Club Limited

Statement of Financial Position

31 May 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5	281,195	276,674
Investments	6	133	133
		---------	---------
		281,328	276,807

Current assets

Stocks		6,559	5,660
Debtors	7	1,416	759
Cash at bank and in hand		17,664	15,335
		--------	--------
		25,639	21,754

Creditors: amounts falling due within one year	8	37,975		44,019
		--------		--------
Net current liabilities			12,336	22,265
			---------	---------
Total assets less current liabilities			268,992	254,542
			---------	---------
Net assets			268,992	254,542
			---------	---------

Capital and reserves

Called up share capital	121,930	121,930
Share premium account	34,225	34,225
Revaluation reserve	101,720	101,720
Profit and loss account	11,117	( 3,333)
	---------	---------
Shareholders funds	268,992	254,542
	---------	---------

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 income statement has not been delivered.

For the year ending 31 May 2019 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 .

Ashton United Football Club Limited

Statement of Financial Position (continued)

31 May 2019

These financial statements were approved by the board of directors and authorised for issue on 11 September 2019 , and are signed on behalf of the board by:

Mrs J Tierney

Director

Company registration number: 02471345

Ashton United Football Club Limited

Notes to the Financial Statements

Year ended 31 May 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Surrey Street, Hurst Cross, Ashton Under Lyne, OL6 8DY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of 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.

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.

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:

	Fixtures and fittings	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2018: 10 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 June 2018	275,000	79,087	354,087
Additions	–	6,587	6,587
	---------	--------	---------
At 31 May 2019	275,000	85,674	360,674
	---------	--------	---------
Depreciation
At 1 June 2018	–	77,413	77,413
Charge for the year	–	2,066	2,066
	---------	--------	---------
At 31 May 2019	–	79,479	79,479
	---------	--------	---------
Carrying amount
At 31 May 2019	275,000	6,195	281,195
	---------	--------	---------
At 31 May 2018	275,000	1,674	276,674
	---------	--------	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 June 2018 and 31 May 2019	133
	----
Impairment
At 1 June 2018 and 31 May 2019	–
	----

Carrying amount
At 31 May 2019	133
	----
At 31 May 2018	133
	----

7. Debtors

	2019	2018
	£	£
Other debtors	1,416	759
	-------	----

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	–	6,218
Social security and other taxes	12,463	14,289
Other creditors	25,512	23,512
	--------	--------
	37,975	44,019
	--------	--------

9. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.