Hertfordshire Football Association Ltd - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 03686948 (England and Wales)

HERTFORDSHIRE FOOTBALL ASSOCIATION

LIMITED

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023

Page

Company information

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

8

Directors:

P F Mallett

G Phillips

B M Curtis

G M Heaton

R Doshi

A Braithwaite

S Biddle

M Chandler

K L Pollard

Secretary:

R C Smith

Registered office:

County Ground

Baldock Road

Letchworth

Hertfordshire

SG6 2EN

Registered number:

03686948 (England and Wales)

Auditors:

Menzies LLP

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

FIXED ASSETS

Property, plant and equipment

5

1,242,371

1,341,680

CURRENT ASSETS

Inventories

308

577

Debtors

6

90,801

31,660

Cash at bank

577,832

492,966

668,941

525,203

CREDITORS

Amounts falling due within one year

7

(304,023

)

(250,347

)

NET CURRENT ASSETS

364,918

274,856

TOTAL ASSETS LESS CURRENT LIABILITIES

1,607,289

1,616,536

CREDITORS

Amounts falling due after more than one year

8

(500,991

)

(593,579

)

NET ASSETS

1,106,298

1,022,957

RESERVES

Capital and revaluation reserve

382,024

382,024

Income and expenditure account

724,274

640,933

1,106,298

1,022,957

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 16th November 2023 and were signed on its behalf by:

G Phillips - Director

P F Mallett - Director

1.	STATUTORY INFORMATION

Hertfordshire Football Association Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

Revenue

Turnover represents amounts received from various bodies by way of grant income. This income is recognised when the relevant expenditure is incurred.

Grants in relation to capital are deferred and released in line with depreciation.

Turnover includes subscriptions received from affiliated clubs which are recognised on an accruals basis.

Course income is recognised on an accruals basis when the course takes place.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold land & buildings - 2% on cost and 10% on cost

Fixtures, fittings and equipment - 10% on cost and 25% reducing balance

Land and buildings were professionally valued in the year to 31st December 2015 by Brown & Lee, Chartered Surveyors. The company previously adopted a policy of revaluing freehold land and buildings and they were stated at their revalued amount less any subsequent depreciation and accumulated impairment losses. The company has adopted the transition exemption under FRS 102 paragraph 35.10(d) and has elected to use the previous revaluation as deemed cost.

Where any permanent diminution of property value is incurred, a provision is made to the profit and loss account. The directors' estimate of residual value is based on prices prevailing at the time of acquisition or subsequent revaluation.

Inventories

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Tax

Tax 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 tax 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 22 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1st July 2022

and 30th June 2023

1,733,857

26,713

1,760,570

Depreciation

At 1st July 2022

394,544

24,346

418,890

Charge for year

97,699

1,610

99,309

At 30th June 2023

492,243

25,956

518,199

Net book value

At 30th June 2023

1,241,614

757

1,242,371

At 30th June 2022

1,339,313

2,367

1,341,680

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

35,647

4,516

Other debtors

55,154

27,144

90,801

31,660

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other loans

28,490

28,000

Trade creditors

16,064

58,497

Social security and other taxes

10,039

10,231

VAT

4,653

1,504

Other creditors

55,823

38,531

Accruals and deferred income

125,242

49,872

Deferred grants

63,712

63,712

304,023

250,347

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other loans - 1-2 years

25,658

28,490

Other loans - 2-5 years

32,082

51,364

Other loans more 5yrs instal

-

6,377

Deferred grants

443,251

507,348

500,991

593,579

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

-

6,377

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

4,235

4,235

Between one and five years

16,940

16,940

In more than five years

304,920

307,275

326,095

328,450

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Other loans

86,230

114,231

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

M R Hubbocks FCA (Senior Statutory Auditor)

for and on behalf of Menzies LLP

12.	COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.