Mansfield Town Football Club Ltd - Abbreviated accounts 16.3
Mansfield Town Football Club Ltd - Abbreviated accounts 16.3
REGISTERED NUMBER: |
Abbreviated Unaudited Accounts for the Year Ended 30 June 2016 |
for |
Mansfield Town Football Club Limited |
Mansfield Town Football Club Limited (Registered number: 00181839) |
Contents of the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
Mansfield Town Football Club Limited |
Company Information |
for the Year Ended 30 June 2016 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Mansfield Town Football Club Limited (Registered number: 00181839) |
Abbreviated Balance Sheet |
30 June 2016 |
30.6.16 | 30.6.15 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 2 |
Share premium |
Special reserve |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 profit or loss 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 were approved by the Board of Directors on |
Mansfield Town Football Club Limited (Registered number: 00181839) |
Notes to the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
1. | ACCOUNTING POLICIES |
Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Tangible fixed assets |
2. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.16 | 30.6.15 |
value: | £ | £ |
Ordinary | 50p |
"A" Ordinary | 50p |
Community | 50p |
278,405 | 278,405 |
3. | RELATED PARTY TRANSACTIONS |
One Call Insurance Services Limited and other companies controlled by Mr. J.L Radford, director, advanced |
sums to the company, which at the year end amounted to £3,973,179 (2015 - £3,934,042). The loans are interest |
free and repayable on no specific terms. |
Balances due from John Radford MTFC Stadium Limited, a company controlled by Mr. J.L. Radford, incurred |
in the normal course of business, amounted to £68,513 (2015 - £8,841). |
Mr S.L. Middleton, director, has advanced sums to the company, which at the year end amounted to £177,061 |
(2015 - £177,061).The loans are interest free and repayable on no specific terms. |
Mr S.P. Hymas, director, has advanced sums to the company, which at the year end amounted to £452,276 (2015 |
- £452,276). The loans are interest free and repayable on no specific terms. |
At 30 June 2016, loans made to the company by former directors amounted to £709,354 (2015 - £709,354). |
Repayment of loans amounting to £709,354 (2015 - £709,354) have been deferred subject to the profitability of |
the company. |
Certain past directors have jointly and severally provided personal guarantees in support of borrowings from |
Green King Breweries Limited which at the year end amounted to £26,739 (2015 - £26,739). |
4. | ULTIMATE CONTROLLING PARTY |
The company is regarded as being controlled by Mr. J.L. Radford |
5. | GOING CONCERN |
The company has significant net liabilities and continues to trade at a loss. The ability to continue as a going |
concern is dependant on the continued support of the company's majority shareholder, and other creditors. |