Hyde United Association Football Club Li - Accounts to registrar (filleted) - small 17.3
Hyde United Association Football Club Li - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 120-124 Towngate |
| Leyland |
| Lancashire |
| PR25 2LQ |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 | ( |
) | ( |
) |
| 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. |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| BALANCE SHEET - continued |
| 31 MAY 2017 |
| 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 on by: |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| Hyde United Association Football Club Limited is a |
| 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 |
| SIGNIFICANT JUDGEMENTS AND ESTIMATES |
| Significant judgements and estimates made by management in preparing these financial statements include: |
| - Discount rates used for finance leases |
| - Depreciation of tangible assets |
| TURNOVER |
| Turnover represents net invoiced sales of goods, donations and matchday income, excluding value added tax. |
| TANGIBLE FIXED ASSETS |
| Land and Buildings | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Office equipment | - |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| FINANCIAL INSTRUMENTS |
| The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and |
| directors' loans. |
| Trade debtors, trade creditors and directors' loans (being repayable on demand), are measured at the |
| undiscounted amount of the cash or consideration expected to be paid or received. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except |
| to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
| laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
| reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
| they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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. |
| GOING CONCERN |
| The company had net liabilities of £41,746 at 31 May 2017 (2016: £25,126). The company is dependent, in the |
| absence of other funding, on the continued financial support of its directors. The directors have confirmed their |
| commitment to provide the necessary support. |
| On this basis, the directors consider it appropriate to prepare the financial statements on a going concern |
| basis. The financial statements do not include any adjustments that might be necessary if the directors were |
| not to provide further support. |
| DEFERRED GRANTS |
| Deferred grants are released to the profit and loss account over the estimated useful life of the assets to which |
| they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Land and | Plant and | and |
| Buildings | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| Motor | Office |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under finance leases are as follows: |
| Land and |
| Buildings |
| £ |
| COST |
| Additions |
| At 31 May 2017 |
| DEPRECIATION |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Finance leases |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Finance leases |
| Directors' loan accounts | 21,386 | 23,136 |
| Deferred grant |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Finance leases | 24,424 | - |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary A | 50p | 50,000 | 50,000 |
| Ordinary B | 50p | 191,849 | 191,849 |
| 241,849 | 241,849 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 June 2016 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 May 2017 | ( |
) |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following interest free advances and credits to directors subsisted during the years ended 31 May 2017 |
| and 31 May 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| HYDE UNITED ASSOCIATION FOOTBALL CLUB |
| LIMITED (REGISTERED NUMBER: 00414978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | 2,000 | - |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Hyde United Community Association Football Club Limited. |