Havant and Waterlooville Football Club Limited - Period Ending 2015-12-31

Registration number: 01967707

Havant and Waterlooville Football Club Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Havant and Waterlooville Football Club Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Havant and Waterlooville Football Club Limited
for the Year Ended 31 May 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Havant and Waterlooville Football Club Limited for the year ended 31 May 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Havant and Waterlooville Football Club Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Havant and Waterlooville Football Club Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Havant and Waterlooville Football Club Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Havant and Waterlooville Football Club Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Havant and Waterlooville Football Club Limited. You consider that Havant and Waterlooville Football Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Havant and Waterlooville Football Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

18 January 2016

Page 1

Havant and Waterlooville Football Club Limited
(Registration number: 01967707)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					473,746			440,737
Current assets
Stocks					6,750			6,750
Debtors					25,552			15,510
Cash at bank and in hand					2,244			2,250
					34,546			24,510
Creditors: Amounts falling due within one year					(925,972)			(820,345)
Net current liabilities					(891,426)			(795,835)
Total assets less current liabilities					(417,680)			(355,098)
Creditors: Amounts falling due after more than one year					(31,210)			(31,210)
Net liabilities					(448,890)			(386,308)
Capital and reserves
Called up share capital		4			1,271,175			1,271,175
Share premium account					113,470			113,470
Revaluation reserve					4,083			4,083
Profit and loss account					(1,837,618)			(1,775,036)
Shareholders' deficit					(448,890)			(386,308)

For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Havant and Waterlooville Football Club Limited
(Registration number: 01967707)
Abbreviated Balance Sheet at 31 May 2015
......... continued

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 15 January 2016 and signed on its behalf by:

.........................................
D A Pope
Chairman

.........................................
A N Aymes
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Havant and Waterlooville Football Club Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

Due to the ongoing support of the company directors and bankers these financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Long leasehold property	2% reducing balance
Plant and machinery	25% reducing balance
Fixtures and fittings	20% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Havant and Waterlooville Football Club Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		693,050			693,050
Additions		72,197			72,197
Disposals		(18,244)			(18,244)
At 31 May 2015		747,003			747,003
Depreciation
At 1 June 2014		252,313			252,313
Charge for the year		29,975			29,975
Eliminated on disposals		(9,031)			(9,031)
At 31 May 2015		273,257			273,257
Net book value
At 31 May 2015		473,746			473,746
At 31 May 2014		440,737			440,737

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		823,006			735,208

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		1,272,135			1,272,135			1,272,135			1,272,135
"A" Ordinary Shares of £1 each		40			40			40			40
		1,272,175			1,272,175			1,272,175			1,272,175

Page 5