Bolton Wanderers Dev Ass (Chorley) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01423297 (England and Wales)

Financial Statements for the Period 1 July 2019 to 28 June 2020

for

Bolton Wanderers Development

Association (Chorley) Ltd

Page

Company Information

1

Chairperson's Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

S Taylor

D Brandwood

D R Blackburn

K L Acton

SECRETARY:

Mrs J A Swift

REGISTERED OFFICE:

University Of Bolton Stadium

Burnden Way

Lostock

Bolton

Lancashire

BL6 6JW

REGISTERED NUMBER:

01423297 (England and Wales)

AUDITORS:

DonnellyBentley Limited

Chartered Accountants

Statutory Auditor

Hazlemere

70 Chorley New Road

Bolton

Lancashire

BL1 4BY

BANKERS:

Barclays Bank plc

1 Market Street

Bolton

Lancashire

BL1 1XA

The Company is licenced by the Gambling Commission , under the Lotteries legislation, to administer the Goldline, Lifeline, Instant Win Scratchcards and Matchday Golden Gamble Lotteries.

The Covid-19 pandemic brought an abrupt halt to the Gambling Activities as the lotteries were suspended from 30th March 2020 and, as a result all Bolton Wanderers Development Association staff are furloughed. Prior to the lockdown it was still proving to be a difficult year as it was looking likely that the Football Club would be relegated to the EFL Division 2 for the first time since 1987 and supporters were deflated with many not prepared to spend their cash with the Football Club or the Lotteries.

Goldline membership was dropping steadily throughout the year with a difference of 600 paying members at the end of the year compared to the beginning. This, in addition to the financial year only consisting of 9 months sales, equates to a 30.6% drop in revenue of £149,510 to £338,355 (2019 £487,865).

Lifeline also suffered a significant drop of 29.6% to £231,976 (2019 £329,646), a difference of £97,670 again mostly due to the unexpected 9 month financial year.

Golden Gamble retained its popularity as supporters still attending the games throughout what has been a difficult season are stalwarts and continue to the support the club despite its problems on and off the field. The year ended with 4 un-played matches losing a potential 19% of match-day sales. The revenue for the current financial year is £26,170 and for the previous year £32,322, a difference of £6,152 a drop of 19%.

The sales of Instant Win Scratchcards dropped by £5,190 to £24,789 (2019 £29,979). The cards had to be taken off sale on 31st December 2020 as the date expired. The decision was made to discontinue sales of Scratchcards as the profit was becoming dangerously close to the legal minimum limit of donation which would have been a breach of the Gambling Commission Licence Conditions and Codes of Practice.

Overall Revenue fell by £258,522 (29.4%) to £621,290 (2019 £879,812).

The loss in revenue has been offset by a reduction in costs, again mostly due to the unexpected and early end to the financial year. Prizes costs dropped by 27.9% from £350,212 to £252,612. Other costs fell by 33.4% from £214,154 to £142,583.

The net surplus of £226,139 (2019 £315,476) fell by £89,337 (28.31%) The net donation payable to Bolton Wanderers Football Club is £90,811 (2019 £123,036). The net donation payable to third party beneficiaries is £135,328 (2019 £192,440).

The BWDA have funded 6 projects during the current financial year totalling £94,592. Of this £54,417 was spent on making improvements at the Lostock Training Facility, an ongoing requirement. £19,174 was used to benefit the supporters by installing electronic card paying machines at the kiosks around the concourse.

The Covid-19 Pandemic has made it difficult to predict what will happen in 2020/21 regarding the lotteries. When staff are allowed to return to work there will be a lot of administration to work through prior to re-commencing the lotteries as over 3,500 members who make payment by standing order have been asked to continue making their payments. This will be treated as top priority and we would like to thank all those members who trust that this will be sorted promptly and to their satisfaction in the new financial year and when the lotteries resume.

Despite the difficult year ahead the BWDA are totally committed to re-building and re-structuring the lotteries, the main aim to achieve a successful result in what will be an unpredictable year for everyone.

As always the BWDA Committee would like to thank the staff, agents and the members for their excellent efforts throughout the year.

S Taylor

Chairperson

14th June 2021

CURRENT ASSETS

Debtors

4

161

18,426

Cash at bank

287,342

216,065

287,503

234,491

CREDITORS

Amounts falling due within one year

5

(287,503

)

(234,491

)

TOTAL ASSETS LESS CURRENT LIABILITIES

-

-

RESERVES

-

-

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 June 2021 and were signed on its behalf by:

D R Blackburn - Director

S Taylor - Director

1.	STATUTORY INFORMATION

Bolton Wanderers Development Association (Chorley) 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.

Income

Income is derived from registered lottery activities which were attributable to the year. Income for lotteries expiring in the following year is carried forward as deferred income.

Expenditure

Expenditure relates to the specific cost of individual lotteries which expired in the year. Expenditure on lotteries expiring in the following year is carried forward as deferred expenditure.

Leasing

Rentals payable under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the period of the lease.

Donations to beneficiaries

Payments to bodies operating third party lotteries are treated as donations to beneficiaries.

Going Concern

The financial statements have been prepared on the going concern basis. The directors are confident that the company will be able to meet its obligations as they become due. Due to the coronavirus pandemic, there is some uncertainty on when the company can return to full trading activities as this is linked to when sporting events (in particular football and rugby) can recommence which is under the jurisdiction of the Government. No adjustments have been made to the Balance Sheet amounts for the uncertainty, none of the assets would require writing down in any case.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2019 - 5 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

-

6,332

Prepayments and deferred

expenditure

161

12,094

161

18,426

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

7

7

Other creditors

182,335

180,367

Accrued expenses

4,428

16,269

Deferred income

100,733

37,848

287,503

234,491

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

6,358

6,358

Between one and five years

735

5,143

7,093

11,501

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Turner FCA FCCA (Senior Statutory Auditor)

for and on behalf of DonnellyBentley Limited

8.	RELATED PARTY DISCLOSURES

Other creditors includes £148,978 (2019 - £147,261) due to Bolton Wanderers Football & Athletic Company Limited.

Other creditors also includes £12,037 (2019 - £7,710) owed to Goldline, Lifeline and Scratchcard agents choosing to save their commissions and £12,627 (2019 - £8,730) due to third party beneficiaries.

During the year, the company made repayments of £84,151 (2019 - £65,032) to Bolton Wanderers Football & Athletic Company Limited. These were used by the club as contributions towards the cost of projects carried out by the club.

The donation to Bolton Wanderers Football & Athletic Company Limited is made up as follows:

2020

2019

£

£

Income for the year before interest and taxation

226,095

315,446

Bank interest received

44

37

Taxation

-

(7

)

Net income for the year

226,139

315,476

Donations to third party beneficiaries

(135,328

)

(192,440

)

Net donation to Bolton Wanderers Football & Athletic Company Limited

90,811

123036

9.	LIMITED BY GUARANTEE

The liability of the members is limited by guarantee.

Every member of the association undertakes to contribute to the assets of the association, in the event of the same being wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the association contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding £1.

If upon winding up or dissolution of the association there remains after the satisfaction of all its debts and liabilities, any property whatsoever the same shall not be paid to or distributed among the members of the association, but shall be given or transferred to or otherwise applied for the benefit of the Bolton Wanderers Football Club and if and so far as effect cannot be given to such provision, then to some charitable object.