Doncaster Rovers Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03739676 (England and Wales)

DONCASTER ROVERS LIMITED

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2023

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mr T G Bramall

Mr G Baldwin

Mr D Blunt

REGISTERED OFFICE:

Eco-Power Stadium

Stadium Way

Doncaster

South Yorkshire

DN4 5JW

REGISTERED NUMBER:

03739676 (England and Wales)

SENIOR STATUTORY AUDITOR:

Kelvin Fitton BA FCA

AUDITORS:

Xeinadin Audit Limited

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

The directors present their report with the financial statements of the company for the year ended 30 June 2023.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

Mr T G Bramall

Mr G Baldwin

Mr D Blunt

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr T G Bramall - Director

23 March 2024

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

711,461

871,953

711,461

871,953

CURRENT ASSETS

Debtors

6

1,712,381

1,782,644

Cash at bank and in hand

4,384

76,338

1,716,765

1,858,982

CREDITORS

Amounts falling due within one year

7

4,771,243

3,072,100

NET CURRENT LIABILITIES

(3,054,478

)

(1,213,118

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,343,017

)

(341,165

)

CREDITORS

Amounts falling due after more than one year

8

173

75,021

NET LIABILITIES

(2,343,190

)

(416,186

)

CAPITAL AND RESERVES

Called up share capital

11

33,163,608

33,163,608

Retained earnings

12

(35,506,798

)

(33,579,794

)

SHAREHOLDERS' FUNDS

(2,343,190

)

(416,186

)

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 23 March 2024 and were signed on its behalf by:

Mr T G Bramall - Director

1.	STATUTORY INFORMATION

Doncaster Rovers 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.

The financial statements are prepared in sterling rounded to the nearest £1, which is the functional currency of the entity.

Going Concern

The accounts have been prepared on the going concern basis.

The directors consider the basis of the preparation to be appropriate based on their continuing financial support of the Club Doncaster Limited and Mr T Bramall.

Key estimates have been made as follows:

Tangible fixed assets

The annual depreciation charge is sensitive to changes in estimated useful economic lives and residual values of the assets. These are reviewed regularly to ensure that appropriate charges are made for depreciation.

Debtors

The Company reviews all overdue trade debtors on an ongoing basis to assess whether any impairment is necessary. Judgement is required in determining whether conditions are present indicating a provision for impairment is necessary. Appropriate impairment is recognised when amounts are identified that require provision or write off.

Amounts owed by/to other group companies

The directors review the recoverability of amounts owed by other group companies with the directors of the relevant companies on a regular basis.

The following principal accounting policies have been applied consistently throughout the period:

Turnover

Turnover represents various income streams associated with operating a professional football club including gate receipts, transfer fees receivable and commercial income.

Transfer and signing on fees

The cost of players' registrations are capitalised and amortised over the period of the respective players' contracts.

Signing on fees are capitalised and amortised in full in the year that they are paid.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line or reducing balance method or, if held under a finance lease, over the lease term, whichever is shorter.

Training ground

-Straight line over the life of the lease

Long leasehold

-Straight line over the life of the lease

Plant and machinery

- 10 - 40% on reducing balance/ straight line

Motor vehicles

- 25% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Computer equipment

- 40% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjust prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 191 (2022 - 186 ) .

4.	INTANGIBLE FIXED ASSETS

Transfer

Fees

£

COST

At 1 July 2022

136,185

Disposals

136,185

At 30 June 2023

272,370

AMORTISATION

At 1 July 2022

136,185

Eliminated on disposal

136,185

At 30 June 2023

272,370

NET BOOK VALUE

At 30 June 2023

-

At 30 June 2022

-

5.	TANGIBLE FIXED ASSETS

Training

Long

Plant and

ground

leasehold

machinery

£

£

£

COST

At 1 July 2022

603,768

439,551

677,007

Additions

-

(1

)

43,700

Disposals

-

(1,270

)

(142,566

)

At 30 June 2023

603,768

438,280

578,141

DEPRECIATION

At 1 July 2022

266,956

156,443

469,524

Charge for year

7,826

91,993

56,486

Eliminated on disposal

-

(486

)

(141,744

)

Impairments

58,517

952

-

At 30 June 2023

333,299

248,902

384,266

NET BOOK VALUE

At 30 June 2023

270,469

189,378

193,875

At 30 June 2022

336,812

283,108

207,483

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2022

166,162

23,410

226,119

2,136,017

Additions

25,488

-

4,263

73,450

Disposals

(140,167

)

-

(204,366

)

(488,369

)

At 30 June 2023

51,483

23,410

26,016

1,721,098

DEPRECIATION

At 1 July 2022

152,688

5,853

212,600

1,264,064

Charge for year

5,096

4,389

5,421

171,211

Eliminated on disposal

(138,495

)

-

(204,382

)

(485,107

)

Impairments

-

-

-

59,469

At 30 June 2023

19,289

10,242

13,639

1,009,637

NET BOOK VALUE

At 30 June 2023

32,194

13,168

12,377

711,461

At 30 June 2022

13,474

17,557

13,519

871,953

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

Plant and

machinery

£

COST

At 1 July 2022

and 30 June 2023

25,776

DEPRECIATION

At 1 July 2022

and 30 June 2023

18,918

NET BOOK VALUE

At 30 June 2023

6,858

At 30 June 2022

6,858

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

649,195

767,328

Amounts owed by group undertakings

821,890

605,825

Other debtors

92,774

73,748

Prepayments & accrued income

148,522

335,743

1,712,381

1,782,644

Included in Trade Debtors is £Nil (2022: £400,000) which is receivable after more than one year.

Amounts owed by group undertakings are interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other loans

63,023

128,598

Fixed sum loan

-

80,047

Hire purchase contracts (see note 9)

2,348

3,655

Trade creditors

1,969,485

1,366,326

Amounts owed to group undertakings

1,544,171

177,400

Social security and other taxes

139,047

483,809

Other creditors

167,394

60,558

Accruals & deferred income

885,775

771,707

4,771,243

3,072,100

Amounts owed by group undertakings are interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

173

2,521

Trade creditors

-

72,500

173

75,021

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

2,348

3,655

Between one and five years

173

2,521

2,521

6,176

Non-cancellable

operating leases

2023

2022

£

£

Within one year

129,232

137,307

Between one and five years

510,952

540,570

In more than five years

8,316,667

8,197,994

8,956,851

8,875,871

Lessor

At the year, the Company had contracted with tenants, under non-cancellable operating leases, for the following future minimum lease payments.

2023

2022

Amounts due:

£

£

Within one year

114,312

117,145

Between two and five years

435,741

457,248

After five years

-

92,805

550,053

667,198

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

2,521

6,176

Hire purchase borrowings are secured by way of charges over the relevant assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

33,163,608

Ordinary

1

33,163,608

33,163,608

12.

RESERVES

Retained

earnings

£

At 1 July 2022

(33,579,794

)

Deficit for the year

(1,927,004

)

At 30 June 2023

(35,506,798

)

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kelvin Fitton BA FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

14.	CONTINGENT LIABILITIES

There is a charge outstanding against the artificial football pitch on which the club received capital grant funding totalling £276,802 from the Football Foundation. If the pitch is not used for qualifying purposes as described in the grant award, the total award would become repayable.

15.	CAPITAL COMMITMENTS

During the year the Company paid a 50% deposit for a new LED score board, the outstanding balance due on delivery is £7,248.

16.	RELATED PARTY DISCLOSURES

Club Doncaster Limited

Club Doncaster Limited is the immediate parent undertaking of Doncaster Rovers Limited by virtue of owning 98.02% of the Company's ordinary share capital.

Club Doncaster Limited advances loans to the Company in order to meet its obligations as and when they fall due. Included in Creditors amounts falling due within one year is £1,312,675 (2022: (£70,475)). The loans are interest free with no formal repayment terms.

Club Doncaster Community Sports and Education Foundation

Club Doncaster Community Sports and Education Foundation is a Charity Limited by Guarantee in which G Baldwin is a director.

During the year the Company made sales and recharged costs of £343,690 (2022: £354,246) to Club Doncaster Community Sports Foundation.

The Company also made purchases and incurred recharges of expenses from Club Doncaster Community & Sports Foundation totalling £17,985 (2022: £12,087).

Included in Creditors amounts falling due within one year are amounts due to Club Doncaster Sports and Education Foundation totalling £231,496 (2022:177,400).

Doncaster Rugby League Club Limited

Doncaster Rugby League Club Limited is a fellow subsidiary of Club Doncaster Limited.

The Company trades with Doncaster Rugby League Club Limited, during the year made The Company made sales and recharged costs to Doncaster Rugby League Club Limited of £23,031 (2022: £14,016).

The Company also made purchases and incurred recharges of expenses from Doncaster Rugby League Club Limited totalling £360,476 (2022: £28,676).

At the year end included in Other Debtors is £650,414 (2022: £420,487) due from from Doncaster Rugby League Club Limited.

The balances are interest free with no formal repayment terms.

Doncaster Rovers Belles Ladies Football Club Limited

Doncaster Rovers Belles Ladies Football Club Limited is a fellow subsidiary of Club Doncaster Limited.

During the year the Company made sales and recharged expenses to Doncaster Rovers Belles Ladies Football Club totalling £43,154 (2022: £38,299).

The Company also made purchases and incurred recharges of expenses from Doncaster Rovers Belles Ladies Football Club Limited totalling £16,837 (2021: £16,162).

Included in Other Debtors is £171,476 (2022: £114,863) due from from Doncaster Rovers Belles Ladies Football Club Limited.

The balances are interest free with no formal repayment terms.

17.	POST BALANCE SHEET EVENTS

Since the year end date, certain clauses have been met in contracts where playing registrations of certain footballers that were either disposed of in the period under review or prior periods, additional sales proceeds of £20,000 will be realised in the 30 June 2024 accounting period. The associated net book value is £Nil.

Further sell on clauses were triggered in relation to the disposal of certain playing registrations in prior years, whereby further consideration of £49,000 will be recognised in the 30 June 2024 accounting period.

18.	ULTIMATE CONTROLLING PARTY

The controlling party is Club Doncaster Limited.

The directors consider there to be no individual controlling party by virtue of each of the Directors holding 33.3%of the ordinary share capital in the immediate parent undertaking Club Doncaster Limited.