Cowdenbeath Football Club, Ltd. (The) - Period Ending 2018-05-28

Registration number: SC005809

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

Annual Report and Financial Statements

for the Year Ended 28 May 2018

In Practice Accountancy Ltd t/a Accountants Plus
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

Contents

Company Information	1
Directors' Report	2 to 3
Statement of Directors' Responsibilities	4
Statement of Financial Position	5 to 7
Notes to the Financial Statements	6

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

Company Information

Chairman

Mr Donald Russell Findlay

Directors

Mr David Andrew Allan Mr Alexander Henderson Anderson Mr John Duthie Cameron Mr Donald Russell Findlay Mr Alan David Reid Smart Mr Thomas Ewing Mr Neil Fentie Mr Alexander Ferguson Mr Malcom Slora Mrs Margaret Steven

Registered office

Central Park Cowdenbeath Fife KY4 9QQ

Bankers

Bank of Scotland Glenrothes 9 Falkland Gate Glenrothes Fife

Auditors

In Practice Accountancy Ltd t/a Accountants Plus Upper Floor, Unit 1 82 Muir Street Hamilton Lanarkshire ML3 6BJ

Page 1

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

Directors' Report for the Year Ended 28 May 2018

The directors present their report and the financial statements for the year ended 28 May 2018.

This report has been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

Directors of the company

The directors who held office during the year were as follows:

Mr David Andrew Allan

Mr Alexander Henderson Anderson

Mr John Duthie Cameron

Mr Donald Russell Findlay - Chairman

Mr Alan David Reid Smart

Mr Thomas Ewing

Mr Neil Fentie

Mr Alexander Ferguson

Mr Malcom Slora

Mrs Margaret Steven

Going concern

At the balance sheet date, the company's liabilities exceeded its assets by £205,010.
In order to meet its day to day working capital requirements, the company requires the continuing support of its
directors and supporters.
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values to their recoverable amounts and to provide for further liabilities that may arise.
The directors believe that it is appropriate for the financial statements to be prepared on a going concern basis.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of In Practice Accountancy Ltd t/a Accountants Plus as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Page 2

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

Directors' Report for the Year Ended 28 May 2018

Approved by the Board on 27 February 2019 and signed on its behalf by:

.........................................
Mr David Andrew Allan
Director

Page 3

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the report and financial statements in accordance with the Companies Act 2006, and all applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and are in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

(Registration number: SC005809)
Statement of Financial Position as at 28 May 2018

	2018 £	2017 £
Fixed assets	11,346	19,678
Current assets	43,483	42,695
Prepayments and accrued income	2,052	1,814
Creditors: Amounts falling due within one year	(17,164)	(18,312)
Net current assets	28,371	26,197
Total assets less current liabilities	39,717	45,875
Creditors: Amounts falling due after more than one year	(193,492)	(170,697)
Accruals and deferred income	(51,235)	(33,655)
	(205,010)	(158,477)
Capital and reserves	(205,010)	(158,477)

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 27 February 2019 and signed on its behalf by:
 

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

Mr David Andrew Allan
Director

Page 5

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

(Registration number: SC005809)
Statement of Financial Position as at 28 May 2018

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Central Park
Cowdenbeath
Fife
KY4 9QQ
Scotland

These financial statements were authorised for issue by the Board on 27 February 2019.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2017 - 31).

3	Related party transactions

Transactions with directors

2018	At 29 May 2017 £	Repayments by director £	At 28 May 2018 £
Mr Neil Fentie
Interest free loan with no repayment terms	76,250	17,000	93,250
Mr Donald Russell Findlay
Interest free loan with no repayment terms	26,303	-	26,303
Mr Alexander Henderson Anderson
Interest free loan with no repayment terms	2,500	-	2,500
Mr David Andrew Allan
Interest free loan with no repayment terms	21,748	-	21,748
Mr Thomas Ewing
Interest free loan with no repayment terms	6,000	-	6,000
Mr John Duthie Cameron
Interest free loan with no repayment terms	5,000	-	5,000

Page 6

Cowdenbeath Football Club, Ltd. (The)

trading as Cowdenbeath Football Club Ltd

(Registration number: SC005809)
Statement of Financial Position as at 28 May 2018

Mrs Margaret Steven
Interest free loan with no repayment terms	7,760	500	8,260
Mr Malcom Slora
Interest free loan with no repayment terms	8,000	5,295	13,295

2017	At 31 May 2016 £	Repayments by director £	At 28 May 2017 £
Mr Neil Fentie
Interest free loan with no repayment terms	57,250	19,000	76,250
Mr Donald Russell Findlay
Interest free loan with no repayment terms	26,303	-	26,303
Mr Alexander Henderson Anderson
Interest free loan with no repayment terms	2,500	-	2,500
Mr David Andrew Allan
Interest free loan with no repayment terms	21,748	-	21,748
Mr Thomas Ewing
Interest free loan with no repayment terms	6,000	-	6,000
Mr John Duthie Cameron
Interest free loan with no repayment terms	5,000	-	5,000
Mrs Margaret Steven
Interest free loan with no repayment terms	7,760	-	7,760
Mr Malcom Slora
Interest free loan with no repayment terms	8,000	-	8,000

Page 7