The Independent Football Commission Ltd - Accounts to registrar (filleted) - small 18.2

THE INDEPENDENT FOOTBALL

COMMISSION LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Professor D Fraser

N J Waldman

A Watson CBE

REGISTERED OFFICE:

62/63 Westborough

Scarborough

North Yorkshire

YO11 1TS

BUSINESS ADDRESS:

Suite 49

33 Great George Street

Leeds

West Yorkshire

LS1 3AJ

REGISTERED NUMBER:

04309460 (England and Wales)

ACCOUNTANTS:

Fortus North Limited

Business Advisors & Accountants

62/63 Westborough

Scarborough

North Yorkshire

YO11 1TS

BANKERS:

HSBC

PO Box 117

60 Albert Road

Middlesbrough

TS1 1RS

FIXED ASSETS

Tangible assets

4

399

417

CURRENT ASSETS

Cash at bank

119,598

120,181

CREDITORS

Amounts falling due within one year

5

117,114

119,179

NET CURRENT ASSETS

2,484

1,002

TOTAL ASSETS LESS CURRENT LIABILITIES

2,883

1,419

RESERVES

Income and expenditure account

2,883

1,419

2,883

1,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2020 and were signed on its behalf by:

Professor D Fraser - Director

1.	STATUTORY INFORMATION

The Independent Football Commission Limited is a private company, limited by guarantee , registered in

England and Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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 balance sheet date.

Deferred tax

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

balance sheet 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded

at transaction price. Any losses arising from impairment are recognised in the profit and loss account in

other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2019

1,249

Additions

599

At 31 December 2019

1,848

DEPRECIATION

At 1 January 2019

832

Charge for year

617

At 31 December 2019

1,449

NET BOOK VALUE

At 31 December 2019

399

At 31 December 2018

417

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Deferred income

99,000

99,000

Taxation

348

196

Social security and other taxes

15,444

15,444

Other creditors

307

35

Accrued expenses

2,015

4,504

117,114

119,179