Fairford Town Youth Football Club - Period Ending 2014-05-31

FAIRFORD TOWN YOUTH FOOTBALL CLUB - Company Information

Registration number: 04433014

Fairford Town Youth Football Club

(A company limited by guarantee)

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014

ACTA Services Ltd
The Pound
Nell Hill
Hannington
Wilts
SN6 7RT

Fairford Town Youth Football Club
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 3) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fairford Town Youth Football Club
for the Year Ended 31 May 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fairford Town Youth Football Club for the year ended 31 May 2014 set out on pages 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/membershandbook.

This report is made solely to the Board of Directors of Fairford Town Youth Football Club, as a body, in accordance with the terms of our engagement letterdated 4 March 2013. Our work has been undertaken solely to prepare for your approval the accounts of Fairford Town Youth Football Club and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairford Town Youth Football Club and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fairford Town Youth Football Club has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Fairford Town Youth Football Club. You consider that Fairford Town Youth Football Club 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 accounts of Fairford Town Youth Football Club. 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 accounts.

......................................

ACTA Services Ltd
The Pound
Nell Hill
Hannington
Wilts
SN6 7RT

20 February 2015

Page 1

Fairford Town Youth Football Club
(Registration number: 04433014)
Abbreviated Balance Sheet at 31 May 2014

	Note	2014 £	2013 £
Fixed assets
Tangible fixed assets		141,347	147,094
Current assets
Cash at bank and in hand		6,661	5,165
Creditors: Amounts falling due within one year		(775)	(900)
Net current assets		5,886	4,265
Net assets		147,233	151,359
Capital and reserves
Profit and loss account		147,233	151,359
Shareholders' funds		147,233	151,359

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 20 February 2015 and signed on its behalf by:

.........................................
Mr Joseph Peter Cusack
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

Fairford Town Youth Football Club
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts received as subscriptions from team managers on behalf of players, fundraising and donations received during the year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land & buildings	2% per annum

The market value is at least equal to or exceeding cost in the opinion of the Directors/Trustees.

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 June 2013	190,406	190,406
At 31 May 2014	190,406	190,406
Depreciation
At 1 June 2013	43,312	43,312
Charge for the year	5,747	5,747
At 31 May 2014	49,059	49,059
Net book value
At 31 May 2014	141,347	141,347
At 31 May 2013	147,094	147,094

3	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.

Page 3