FRICKLEY ATHLETIC FOOTBALL CLUB LIMITED - Filleted accounts

FRICKLEY ATHLETIC FOOTBALL CLUB LIMITED - Filleted accounts

FRICKLEY ATHLETIC FOOTBALL CLUB LIMITED - Company Information

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Registered number
04932518
FRICKLEY ATHLETIC FOOTBALL CLUB LIMITED
Filleted Accounts
30 November 2021
FRICKLEY ATHLETIC FOOTBALL CLUB LIMITED
Registered number: 04932518
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 590,806 644,201
Current assets
Debtors 4 12,822 12,169
Cash at bank and in hand 204 204
13,026 12,373
Creditors: amounts falling due within one year 5 (290,303) (290,590)
Net current liabilities (277,277) (278,217)
Total assets less current liabilities 313,529 365,984
Creditors: amounts falling due after more than one year 6 (619,455) (652,033)
Provisions for liabilities - -
Net liabilities (305,926) (286,049)
Capital and reserves
Profit and loss account (305,926) (286,049)
Shareholders' funds (305,926) (286,049)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J McCroakam
Director
Approved by the board on 24 August 2022
FRICKLEY ATHLETIC FOOTBALL CLUB LIMITED
Notes to the Accounts
for the year ended 30 November 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The financial statements have been prepared on the going concern basis, on the assumption that the company will continue to receive the support of its directors and creditors.
Turnover
Turnover is measured at the fair value received or receivable, net of value added tax, and represents gate receipts and income from other football related activities.
Grant income
Grants receivable in respect of capital expenditure are treated as deferred income and credited to the profit and loss account over the useful life of the asset.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over the remaining lease term
Plant and machinery 20% - reducing balance
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.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Leased assets
Tangible fixed assets acquired under finance lease or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit or loss for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 14 18
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2020 704,144 8,146 712,290
At 30 November 2021 685,811 8,146 693,957
Depreciation
At 1 December 2020 61,965 6,124 68,089
Charge for the year 34,658 404 35,062
At 30 November 2021 96,623 6,528 103,151
Net book value
At 30 November 2021 589,188 1,618 590,806
At 30 November 2020 642,179 2,022 644,201
4 Debtors 2021 2020
£ £
Trade debtors 4,288 6,000
Other debtors 8,534 6,169
12,822 12,169
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 20,555 15,125
Trade creditors 31,791 51,440
Taxation and social security costs - 1,068
Other loans 7,100 7,100
Directors' loans 173,821 158,821
Deferred grants 30,478 30,478
Other creditors 26,558 26,558
290,303 290,590
6 Creditors: amounts falling due after one year 2021 2020
£ £
Other loans 100,935 103,035
Deferred grants 518,520 548,998
619,455 652,033
7 Secured liabilities
The Football Association holds a legal charge on the Frickley Pavilion to ensure that the covenants relating to use are adhered to and that grants would be repayable should the building cease to be used for that purpose. The amount of the grants that could be repayable amounts to £358,440.

The bank borrowings are secured by directors' guarantee.
8 Other information
FRICKLEY ATHLETIC FOOTBALL CLUB LIMITED is a private company limited by guarantee and incorporated in England. Its registered office is:
Westfield Lane Ground
South Elmsall
Pontefract
West Yorkshire
WF9 2EQ
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