Llandudno FC - Accounts to registrar (filleted) - small 23.2.5

Llandudno FC - Accounts to registrar (filleted) - small 23.2.5

LLANDUDNO FC - Company Information

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REGISTERED NUMBER: 07479733 (Wales)










Llandudno FC

Unaudited Financial Statements

for the Year Ended 31 December 2022





Llandudno FC (Registered number: 07479733)






Contents of the Financial Statements
for the year ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Llandudno FC

Company Information
for the year ended 31 December 2022







DIRECTORS: Mr David Matthew Guinn
Mr Jason Gareth Denham
Mr Grant Montgomery





REGISTERED OFFICE: Maesdu Park
Builders Street West
Llandudno
LL30 1HH





REGISTERED NUMBER: 07479733 (Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN
Page 1
Llandudno FC (Registered number: 07479733)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 96,146 110,929
96,146 110,929

CURRENT ASSETS
Stocks - 484
Debtors 6 62,905 34,681
Cash at bank and in hand 981 4,839
63,886 40,004
CREDITORS
Amounts falling due within one year 7 37,053 46,086
NET CURRENT ASSETS/(LIABILITIES) 26,833 (6,082 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
122,979
104,847

ACCRUALS AND DEFERRED INCOME 32,113 26,063
NET ASSETS 90,866 78,784

RESERVES
Capital reserve 37,418 37,418
Income and expenditure account 53,448 41,366
90,866 78,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 surplus or deficit 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 15 August 2023 and were signed on its behalf by:



Mr David Matthew Guinn - Director



Mr Jason Gareth Denham - Director


The notes form part of these financial statements

Page 2
Llandudno FC (Registered number: 07479733)

Notes to the Financial Statements
for the year ended 31 December 2022

1. STATUTORY INFORMATION

Llandudno FC is a private company, limited by guarantee , registered in 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.

Going concern
Within the financial year the World Health Organisation (WHO) declared Covid-19 as a worldwide pandemic. In relation to this the directors have reviewed the company's performance throughout the period and subsequent to the year end and, as a result believe that the preparation of the financial statements on the going concern basis is appropriate.

Turnover
Turnover represents income receivable from match day attendance, advertising, sponsorship, subsidies and prize money, exclusive of VAT as appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% on reducing balance, 10% on cost, 5% on cost and not provided

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 surplus or deficit on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 3 ) .

Page 3 continued...
Llandudno FC (Registered number: 07479733)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

4. INTANGIBLE FIXED ASSETS

As at 31 December 2022 and 31 December 2021, there were no investments held by the club.

As at 31 December 2022 and 31 December 2021, there were no intangible assets in respect of player contracts held by the club.

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 5,000 196,648 201,648
DEPRECIATION
At 1 January 2022 - 90,719 90,719
Charge for year - 14,783 14,783
At 31 December 2022 - 105,502 105,502
NET BOOK VALUE
At 31 December 2022 5,000 91,146 96,146
At 31 December 2021 5,000 105,929 110,929

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 2,526 614
Amounts owed by participating interests 56,194 33,394
Other debtors 4,185 673
62,905 34,681

As at 31 December 2022 and 31 December 2021, there were no amounts receivable in respect of player transfers.

As at 31 December 2022, there were amounts receivable of £54,157 (2021: £31,804) in respect of Llandudno FC in the Community and Llandudno Academy.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 2,068 3,701
Amounts owed to participating interests 2,037 1,590
Taxation and social security 11,682 5,739
Other creditors 21,266 35,056
37,053 46,086

Other creditors include deferred income received during the period, relating to future years, totalling £17,198 (2021: £29,339 ).

As at 31 December 2022 and 31 December 2021, there were no amounts payable in respect of player transfers.

As at 31 December 2022 and 31 December 2021, there were no amounts payable in respect of bank and other loans, taxation and provisions.

8. CONTINGENT LIABILITIES

As at 31 December 2022 and 31 December 2021, there were no contingent liabilities.

Page 4 continued...
Llandudno FC (Registered number: 07479733)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

9. ULTIMATE CONTROLLING PARTY

Llandudno FC is a company limited by guarantee (four), and is controlled by a committee appointed by members.

Page 5