Abbreviated Company Accounts - PORT VALE FOOTBALL CLUB LIMITED

Abbreviated Company Accounts - PORT VALE FOOTBALL CLUB LIMITED

PORT VALE FOOTBALL CLUB LIMITED - Company Information

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Registered Number 08876768

PORT VALE FOOTBALL CLUB LIMITED

Abbreviated Accounts

30 June 2016

PORT VALE FOOTBALL CLUB LIMITED Registered Number 08876768

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 1,483,445 1,668,875
Tangible assets 3 98,888 4,312
1,582,333 1,673,187
Current assets
Stocks 135,938 8,315
Debtors 132,998 114,830
Cash at bank and in hand 187,492 121,457
456,428 244,602
Creditors: amounts falling due within one year (4,143,695) (3,220,581)
Net current assets (liabilities) (3,687,267) (2,975,979)
Total assets less current liabilities (2,104,934) (1,302,792)
Total net assets (liabilities) (2,104,934) (1,302,792)
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,105,034) (1,302,892)
Shareholders' funds (2,104,934) (1,302,792)
  • For the year ending 30 June 2016 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 30 March 2017

And signed on their behalf by:
N Smurthwaite, Director

PORT VALE FOOTBALL CLUB LIMITED Registered Number 08876768

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
Although the Company Balance Sheet discloses net liabilities of £2,104,934 as at 30th June 2016, the director considers it appropriate that the financial statements are prepared on a going concern basis. Within creditors is an amount of £3,088,087 owed to Mr Smurthwaite, on directors loan account. The company continues to pay it's debts as and when they fall due. The company continues to receive the support of it's director by way of him not withdrawing monies owed to him and the introduction of funds as and when necessary.

2Intangible fixed assets
£
Cost
At 1 July 2015 1,854,305
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2016 1,854,305
Amortisation
At 1 July 2015 185,430
Charge for the year 185,430
On disposals -
At 30 June 2016 370,860
Net book values
At 30 June 2016 1,483,445
At 30 June 2015 1,668,875
3Tangible fixed assets
£
Cost
At 1 July 2015 6,389
Additions 101,777
Disposals -
Revaluations -
Transfers -
At 30 June 2016 108,166
Depreciation
At 1 July 2015 2,077
Charge for the year 7,201
On disposals -
At 30 June 2016 9,278
Net book values
At 30 June 2016 98,888
At 30 June 2015 4,312