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2021-06-01
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2021-06-01
2022-05-31
03031058
2022-05-31
03031058
2021-05-31
03031058
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2021-05-31
03031058
2021-05-31
03031058
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03031058
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03031058
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2022-05-31
|
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
|
All of the members of Alvechurch Football Club Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 May 2022 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
03031058
|
ALVECHURCH FOOTBALL CLUB LIMITED |
|
|
COMPANY LIMITED BY GUARANTEE |
|
|
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
|
|
ALVECHURCH FOOTBALL CLUB LIMITED |
|
|
COMPANY LIMITED BY GUARANTEE |
|
|
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
ALVECHURCH FOOTBALL CLUB LIMITED |
|
YEAR ENDED 31 MAY 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Alvechurch Football Club Limited for the year ended 31 May 2022, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED
Accountants and Registered Auditors
Lifford Hall
Lifford Lane
Kings Norton
Birmingham
B30 3JN
12 April 2023
|
ALVECHURCH FOOTBALL CLUB LIMITED |
|
|
COMPANY LIMITED BY GUARANTEE |
|
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
|
31 May 2022
Fixed assets
|
Tangible assets |
6 |
|
223,250 |
|
12,661 |
|
|
|
|
|
|
Current assets
|
Stocks |
7,850 |
|
– |
|
|
Cash at bank and in hand |
3,028 |
|
41,332 |
|
|
------------ |
|
------------ |
|
|
10,878 |
|
41,332 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
15,519 |
|
14,525 |
|
|
------------ |
|
------------ |
|
|
Net current (liabilities)/assets |
|
(
4,641) |
|
26,807 |
|
|
------------ |
|
------------ |
|
Total assets less current liabilities |
|
218,609 |
|
39,468 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
|
30,000 |
|
40,000 |
|
|
------------ |
|
------------ |
|
Net assets/(liabilities) |
|
188,609 |
|
(
532) |
|
|
------------ |
|
------------ |
|
|
|
|
|
Capital and reserves
|
Revaluation reserve |
|
187,339 |
|
– |
|
Profit and loss account |
|
1,270 |
|
(
532) |
|
|
------------ |
|
------------ |
|
Members funds/(deficit) |
|
188,609 |
|
(
532) |
|
|
------------ |
|
------------ |
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
|
ALVECHURCH FOOTBALL CLUB LIMITED |
|
|
COMPANY LIMITED BY GUARANTEE |
|
|
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
|
31 May 2022
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
12 April 2023
, and are signed on behalf of the board by:
Company registration number:
03031058
|
ALVECHURCH FOOTBALL CLUB LIMITED |
|
|
COMPANY LIMITED BY GUARANTEE |
|
|
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MAY 2022
1.
General Information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Lye Meadow, Redditch Road, Alvechurch, Birmingham, West Midlands, B48 7RS.
2.
Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Company Limited by Guarantee
The company is limited by guarantee and has no share capital.
5.
Employee Numbers
The average number of persons employed by the company during the year amounted to
2
(2021:
2
).
6.
Tangible Assets
|
£ |
|
Cost or valuation |
|
|
At 1 June 2021 |
12,661 |
|
Additions |
23,250 |
|
Revaluations |
187,339 |
|
------------ |
|
At 31 May 2022 |
223,250 |
|
------------ |
|
Depreciation |
|
|
At 1 June 2021 and 31 May 2022 |
– |
|
------------ |
|
Carrying amount |
|
|
At 31 May 2022 |
223,250 |
|
------------ |
|
At 31 May 2021 |
12,661 |
|
------------ |
|
|
