Abbreviated Company Accounts - HITCHIN TOWN COMMUNITY FOOTBALL CLUB LTD

Abbreviated Company Accounts - HITCHIN TOWN COMMUNITY FOOTBALL CLUB LTD

HITCHIN TOWN COMMUNITY FOOTBALL CLUB LTD - Company Information

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Registered Number 06032225

HITCHIN TOWN COMMUNITY FOOTBALL CLUB LTD

Abbreviated Accounts

31 December 2013

HITCHIN TOWN COMMUNITY FOOTBALL CLUB LTD Registered Number 06032225

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 3 461,865 542,411
461,865 542,411
Current assets
Debtors 35,623 15,554
Cash at bank and in hand 5,643 3,305
41,266 18,859
Creditors: amounts falling due within one year (157,076) (115,882)
Net current assets (liabilities) (115,810) (97,023)
Total assets less current liabilities 346,055 445,388
Creditors: amounts falling due after more than one year (695,023) (743,099)
Total net assets (liabilities) (348,968) (297,711)
Reserves
Income and expenditure account (348,968) (297,711)
Members' funds (348,968) (297,711)
  • For the year ending 31 December 2013 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.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 October 2014

And signed on their behalf by:
A J Melvin, Director

HITCHIN TOWN COMMUNITY FOOTBALL CLUB LTD Registered Number 06032225

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Clubhouse - 5% on cost
Artificial pitch - 10% on cost
Fixtures & fittings - 20% on cost
Car park - 10% on cost
Grass pitch - 10% on cost

Other accounting policies
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account in the year to which they relate.

Going Concern
The financial statements have been prepared on a going concern basis. The balance sheet is in deficit and the main reason for this is that capital grants of £543,141 are being written off over the expected life span of the related fixed assets.

Capital Grants
Capital grants are being written off over the expected life span of the related fixed assets.

Creditors
Creditors include the following debts falling due after more than five years, £115,462 (2012: £113,476).

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets
£
Cost
At 1 January 2013 1,025,597
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2013 1,025,597
Depreciation
At 1 January 2013 483,186
Charge for the year 80,546
On disposals -
At 31 December 2013 563,732
Net book values
At 31 December 2013 461,865
At 31 December 2012 542,411