Futebol de Salao UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03375317 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

FOR

FUTEBOL DE SALAO UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F J Lowe

R J G Lowe

SECRETARY:

M Bennett

REGISTERED OFFICE:

Cumnor Road

Wootton

Boars Hill

Oxfordshire

OX1 5JW

REGISTERED NUMBER:

03375317 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

269

765

269

765

CURRENT ASSETS

Stocks

9,953

12,372

Debtors

6

46,965

43,256

Cash at bank

71,898

49,299

128,816

104,927

CREDITORS

Amounts falling due within one year

7

265,048

259,551

NET CURRENT LIABILITIES

(136,232

)

(154,624

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(135,963

)

(153,859

)

CREDITORS

Amounts falling due after more than one year

8

29,166

-

NET LIABILITIES

(165,129

)

(153,859

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

9,985

9,985

Retained earnings

(176,114

)

(164,844

)

SHAREHOLDERS' FUNDS

(165,129

)

(153,859

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 28 October 2021 and were signed on its behalf by:

F J Lowe - Director

1.	STATUTORY INFORMATION

Futebol de Salao UK 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.

Turnover

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

Goodwill

The directors consider that the useful economic life of the acquired goodwill is now nil and as such the goodwill has been fully amortised.

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.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

Government grants

Government grants are in respect of Coronavirus grants awarded by the local council. Grant income is recognised when the company is legally entitled to it.

Stocks

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

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2020

and 31 May 2021

41,593

AMORTISATION

At 1 June 2020

and 31 May 2021

41,593

NET BOOK VALUE

At 31 May 2021

-

At 31 May 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

and 31 May 2021

2,730

DEPRECIATION

At 1 June 2020

1,965

Charge for year

496

At 31 May 2021

2,461

NET BOOK VALUE

At 31 May 2021

269

At 31 May 2020

765

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

28,490

34,924

Other debtors

18,475

8,332

46,965

43,256

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade creditors

3,037

4,293

Amounts owed to participating interests

26,936

26,700

Taxation and social security

3,759

3,218

Other creditors

231,316

225,340

265,048

259,551

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Other creditors

29,166

-