BOOTHAM_CRESCENT_HOLDINGS - Accounts
BOOTHAM_CRESCENT_HOLDINGS - Accounts
Bootham Crescent Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bootham Crescent, York, North Yorkshire, YO30 7AQ.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;
Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’ – Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of JM Packaging Limited. These consolidated financial statements are available from its registered office, 5 Malton Enterprise Park, Malton, North Yorkshire YO17 6AB.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The company's investment properties are valued annually by Mr J A McGill, a director of the company, on the basis of open market value.
The historic cost of the company's investment properties was £274,005 (2018: £274,005).
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The Football Stadia Improvement Fund Limited hold a legal charge dated 10 February 2005 secured on the Company's Investment Property in respect of the obligations of York City Football Club Limited.
The Company's ultimate parent undertaking, JM Packaging Limited, hold a second legal charge dated 4 May 2007 secured on the Company's Investment property in respect of loans advanced to York City Football Club Limited.
City of York Council hold a legal charge dated 19 December 2014 secured on the Company's Investment Property in respect of obligations relating to York City Football Club Limited.
The company's immediate parent undertaking, York City Football Club Limited, has as part of its agreement to purchase the share capital of the company undertaken to repay the amounts owing to former directors, Mr D M Craig, Mr E B Swallow and Mr C Webb. The amount outstanding at 30 June 2019 was £122,424.
The company's immediate parent undertaking, York City Football Club Limited, has use of the property owned by the company on a rent free basis.
The company is a subsidiary of York City Football Club Limited which owns 86% of the total issued share capital of the company.
The directors regard JM Packaging Limited, a company of which Mr J McGill is a director, as the ultimate parent company.
The directors regard JA McGill as the ultimate controlling party.