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

REGISTERED NUMBER: SC179485 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 May 2021

for

Deveronvale Football Club Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J H Mair

Mr F C Beaton

Mr P Bruce

REGISTERED OFFICE:

Princess Royal Park

56 Airlie Gardens

Banff

Aberdeenshire

AB45 1AZ

REGISTERED NUMBER:

SC179485 (Scotland)

ACCOUNTANTS:

SBP

Accountants

9 Carmelite Street

Banff

Aberdeenshire

AB45 1AF

FIXED ASSETS

Intangible assets

4

802

3,344

Tangible assets

5

1,200

1,650

2,002

4,994

CURRENT ASSETS

Stocks

300

300

Debtors

6

13,990

4,510

Investments

7

10,000

20,000

Cash at bank and in hand

79,700

13,848

103,990

38,658

CREDITORS

Amounts falling due within one year

8

5,363

11,649

NET CURRENT ASSETS

98,627

27,009

TOTAL ASSETS LESS CURRENT LIABILITIES

100,629

32,003

CAPITAL AND RESERVES

Called up share capital

208,512

208,512

Retained earnings

(107,883

)

(176,509

)

SHAREHOLDERS' FUNDS

100,629

32,003

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 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 February 2022 and were signed on its behalf by:

Mr J H Mair - Director

1.	STATUTORY INFORMATION

Deveronvale Football Club Limited is a private company, limited by shares , registered in Scotland. 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.

Players contracts

Players contracts are amortised over the length of the contract.

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

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2020 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Players

contracts

£

COST

At 1 June 2020

13,200

Disposals

(4,450

)

At 31 May 2021

8,750

AMORTISATION

At 1 June 2020

9,856

Amortisation for year

2,542

Eliminated on disposal

(4,450

)

At 31 May 2021

7,948

NET BOOK VALUE

At 31 May 2021

802

At 31 May 2020

3,344

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 June 2020

and 31 May 2021

2,271

7,000

9,271

DEPRECIATION

At 1 June 2020

2,271

5,350

7,621

Charge for year

-

450

450

At 31 May 2021

2,271

5,800

8,071

NET BOOK VALUE

At 31 May 2021

-

1,200

1,200

At 31 May 2020

-

1,650

1,650

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

12,000

360

Other debtors

1,990

4,150

13,990

4,510

7.	CURRENT ASSET INVESTMENTS

31.5.21

31.5.20

£

£

Other

10,000

20,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade creditors

-

449

Taxation and social security

740

109

Other creditors

4,623

11,091

5,363

11,649