Stockport County 2010 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07254012 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

STOCKPORT COUNTY 2010 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M C Dawson

K J Knott

M D Stott

J J Vaughan

REGISTERED OFFICE:

Edgeley Park

Hardcastle Road

Stockport

Cheshire

SK3 9DD

REGISTERED NUMBER:

07254012 (England and Wales)

ACCOUNTANTS:

Sedulo Accountants Limited

Chartered Certified Accountants

62-66 Deansgate

Manchester

M3 2EN

FIXED ASSETS

Intangible assets

4

228,478

8,031

Tangible assets

5

1,464,148

127,613

1,692,626

135,644

CURRENT ASSETS

Stocks

90,806

14,531

Debtors

6

185,775

139,851

Cash at bank

132,097

154,836

408,678

309,218

CREDITORS

Amounts falling due within one year

7

1,769,865

893,629

NET CURRENT LIABILITIES

(1,361,187

)

(584,411

)

TOTAL ASSETS LESS CURRENT LIABILITIES

331,439

(448,767

)

CREDITORS

Amounts falling due after more than one year

8

3,415,637

-

NET LIABILITIES

(3,084,198

)

(448,767

)

CAPITAL AND RESERVES

Called up share capital

427,427

427,427

Share premium

958,106

958,106

Revaluation reserve

9

150,000

150,000

Retained earnings

(4,619,731

)

(1,984,300

)

SHAREHOLDERS' FUNDS

(3,084,198

)

(448,767

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 31 March 2022 and were signed on its behalf by:

J J Vaughan - Director

1.	STATUTORY INFORMATION

Stockport County 2010 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 as modified by the revaluation of certain assets.

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 £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over their estimated useful life of five years.

Player registrations are being amortised evenly over the initial contract length of the player.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

25% on reducing balance

Fixtures and fittings

-

25% on cost and 20% on cost

Motor vehicles

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes 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 present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised.

Classification of financial liabilities

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

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 and 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 rate method.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

In common with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 91 (2020 - 89 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2020

16,950

Additions

292,997

At 30 June 2021

309,947

AMORTISATION

At 1 July 2020

8,919

Charge for year

72,550

At 30 June 2021

81,469

NET BOOK VALUE

At 30 June 2021

228,478

At 30 June 2020

8,031

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 July 2020

-

253,301

55,572

20,928

329,801

Additions

1,322,836

131,763

143,205

-

1,597,804

At 30 June 2021

1,322,836

385,064

198,777

20,928

1,927,605

DEPRECIATION

At 1 July 2020

-

172,184

9,076

20,928

202,188

Charge for year

181,997

41,631

37,641

-

261,269

At 30 June 2021

181,997

213,815

46,717

20,928

463,457

NET BOOK VALUE

At 30 June 2021

1,140,839

171,249

152,060

-

1,464,148

At 30 June 2020

-

81,117

46,496

-

127,613

Cost or valuation at 30 June 2021 is represented by:

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2017

-

150,000

-

-

150,000

Cost

1,322,836

235,064

198,777

20,928

1,777,605

1,322,836

385,064

198,777

20,928

1,927,605

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1 July 2020

and 30 June 2021

20,928

DEPRECIATION

At 1 July 2020

and 30 June 2021

20,928

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

71,240

62,761

Amounts owed by group undertakings

112

-

Other debtors

114,423

77,090

185,775

139,851

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

8,333

-

Trade creditors

995,782

350,884

Taxation and social security

103,035

139,283

Other creditors

662,715

403,462

1,769,865

893,629

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

41,667

-

Other creditors

3,373,970

-

3,415,637

-

9.

RESERVES

Revaluation

reserve

£

At 1 July 2020

and 30 June 2021

150,000

10.	RELATED PARTY DISCLOSURES

During the year, loans were introduced from a company under common ownership, of £2,647,000 (2020: £nil). These loans are interest free.