Dover Athletic Football Club Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01747066 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

DOVER ATHLETIC FOOTBALL CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Parmenter

F E D Clarke

N A Cook

S J Parmenter

M R Jaenicke

SECRETARY:

F E D Clarke

REGISTERED OFFICE:

Crabble Athletic Ground

Lewisham Road

River

DOVER

Kent

CT17 0PA

REGISTERED NUMBER:

01747066 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

FIXED ASSETS

Tangible assets

4

1,624,832

1,687,551

CURRENT ASSETS

Stocks

6,058

3,786

Debtors

5

43,098

17,262

Cash at bank and in hand

108,552

73,096

157,708

94,144

CREDITORS

Amounts falling due within one year

6

425,044

1,005,242

NET CURRENT LIABILITIES

(267,336

)

(911,098

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,357,496

776,453

CREDITORS

Amounts falling due after more than one year

7

323,410

340,430

NET ASSETS

1,034,086

436,023

CAPITAL AND RESERVES

Called up share capital

8

3,082,140

2,350,716

Share premium

8,400

8,400

Retained earnings

(2,056,454

)

(1,923,093

)

SHAREHOLDERS' FUNDS

1,034,086

436,023

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 profit or loss 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 22 February 2021 and were signed on its behalf by:

T J Parmenter - Director

1.	STATUTORY INFORMATION

Dover Athletic Football Club Limited is a private company, limited by shares , 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.

The financial statements are presented in sterling which is the functional currency of the company.

Turnover

Turnover represents the total income of the Club including only the profit element of lottery and gaming promotions. The proceeds, prizes and expenses of lotteries are included only in respect of those lotteries which have closing or draw dates falling within the accounting period. Income from ground advertising, promotions and season tickets is recognised in the playing season to which it relates.

Tangible fixed assets

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

Improvements to property

-

Over the period of the lease

Plant & machinery

-

15% on reducing balance

Stocks

Stocks are estimated by the directors at the lower of cost and net realisable value.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account as income over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs is recognised in income in the period in which it becomes receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2019 - 59 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant &

property

machinery

Totals

£

£

£

COST

At 1 June 2019

and 31 May 2020

1,882,401

223,295

2,105,696

DEPRECIATION

At 1 June 2019

315,010

103,135

418,145

Charge for year

52,284

10,435

62,719

At 31 May 2020

367,294

113,570

480,864

NET BOOK VALUE

At 31 May 2020

1,515,107

109,725

1,624,832

At 31 May 2019

1,567,391

120,160

1,687,551

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

11,740

4,027

Other debtors

31,358

13,235

43,098

17,262

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

133,782

144,568

Other taxes and social security costs

112,769

40,660

Other creditors

161,473

254,870

Grants

17,020

17,020

Directors' current accounts

-

548,124

425,044

1,005,242

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Grants

323,410

340,430

Grants have been received towards the cost of certain ground improvements and are released over the remaining period of the lease of the ground. The grant is secured by a legal charge over the leasehold property of the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

3,082,140

Ordinary

£1

3,082,140

2,350,716

731,424 Ordinary shares of £1 were issued during the year for cash of £731,424.

9.	GOING CONCERN

The financial statements have been prepared on a going concern basis. This basis is considered to be appropriate as the company continues to receive the support of its directors.

10.	GOVERNMENT GRANTS

During the year the company has received government grants due to the Covid-19 pandemic. The company received the Coronavirus Job Retention Scheme grant, a revenue based grant, which has been credited to the profit and loss account to match the related employment costs. The sum of £127,803 was receivable in the year. The company also received the Small Business Grant Fund grant, a compensatory grant to give immediate financial support to the company, and a sum of £25,000 has been credited to the profit and loss account in the year.