SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD. - Company Information

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SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Company Registration Number:
03088676 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Notes

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Balance sheet

As at 31 May 2023


Notes
2023
2022


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 0 260
Tangible assets: 4 1,479,998 1,494,808
Investments: 5 100 100
Total fixed assets: 1,480,098 1,495,168
Current assets
Stocks: 2,629 8,250
Debtors: 6 153,991 163,489
Cash at bank and in hand: 179,615 3,395
Total current assets: 336,235 175,134
Creditors: amounts falling due within one year: 7 (1,852,266) (1,913,254)
Net current assets (liabilities): (1,516,031) (1,738,120)
Total assets less current liabilities: (35,933) (242,952)
Creditors: amounts falling due after more than one year: 8 (218,055) (226,749)
Total net assets (liabilities): (253,988) (469,701)
Capital and reserves
Called up share capital: 1,255,000 700,000
Share premium account: 0 0
Revaluation reserve:91,000,0001,000,000
Profit and loss account: (2,508,988) (2,169,701)
Shareholders funds: (253,988) (469,701)

The notes form part of these financial statements

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Balance sheet statements

For the year ending 31 May 2023 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 February 2024
and signed on behalf of the board by:

Name: RICHARD TIMS
Status: Director

The notes form part of these financial statements

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

2. Employees

2023 2022
Average number of employees during the period 21 19

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Intangible Assets

Total
Cost £
At 01 June 2022 62,658
At 31 May 2023 62,658
Amortisation
At 01 June 2022 62,398
Charge for year 260
At 31 May 2023 62,658
Net book value
At 31 May 2023 0
At 31 May 2022 260

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Tangible Assets

Total
Cost £
At 01 June 2022 1,835,456
Additions 9,594
At 31 May 2023 1,845,050
Depreciation
At 01 June 2022 340,648
Charge for year 24,404
At 31 May 2023 365,052
Net book value
At 31 May 2023 1,479,998
At 31 May 2022 1,494,808

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

5. Fixed investments

The company owns the entire share capital of SFC Ladies Ltd.

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

6. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

7. Creditors: amounts falling due within one year note

Bank loans £8,695 (2022: £158,922)Other loans £1,734,022 (£1,561,175)Trade creditors £35,799 (£83,666)Social security and other taxes £17,123 (£24,685)Other creditors and accruals £56,628 (£84,806)Total £1,852,266 (£1,913,254)

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

8. Creditors: amounts falling due after more than one year note

Bank loan: instalments falling due within five years £18,054 (2022: £26,749) Other loans: payable other than by instalments due within 5 years £200,000 (£200,000)During the years ending 31 May 2020 and 2021 the company issued Secured Convertible Loan notes to the value of £410,000 with an expiry date in 2024. These loans carry interest at 5% per annum. At 31 May 2022 £410,000 had been subscribed. Loans amounting to £210,000 were repaid in full in September 2022.

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

9. Revaluation reserve

2023
£
Balance at 01 June 2022 1,000,000
Surplus or deficit after revaluation 0
Balance at 31 May 2023 1,000,000

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

10. Related party transactions

Name of the related party: Mr. J Harrison
Relationship:
Director
Description of the Transaction: Unsecured loans:At 31 May 2023 the company owed Mr. J Harrison £1,108,395 (2022: £1,305,395) in respect of unsecured loans.Secured Convertible Loan Notes 2024: At 31 May 2023 Mr. Harrison had subscribed a total of £200,000 (2022: £200,000)
£
Balance at 01 June 2022 1,505,395
Balance at 31 May 2023 1,308,395
Name of the related party: Mr. J. Levine
Relationship:
Director
Description of the Transaction: At 31 May 2023, the company owed £562,872 in respect of loans advanced by Evogo Limited, a company in which Mr Jeremy Levine, one of the directors has a material interest. This loan is secured by a legal mortgage over the Coach & Horses Inn, owned by the company.
£
Balance at 01 June 2022 0
Balance at 31 May 2023 562,872
Name of the related party:
Relationship:
Director
Description of the Transaction: An amount of £1,108,395 (2022: £1,305,395) was owed to Mr. J. Harrison, a director of the company, in respect of unsecured loans, at 31 May 2023. At 31 May 2023 Mr. Harrison had also subscribed to £200,000 in the company’s issue of Secured Convertible Loan Notes 2024.
£
Balance at 01 June 2022 1,505,395
Balance at 31 May 2023 1,308,395
Name of the related party:
Relationship:
Director
Description of the Transaction: At 31 May 2023, the company owed £562,872 in respect of loans advanced by Evogo Limited, a company in which Mr Jeremy Levine, one of the directors has a material interest. This loan is secured by a legal mortgage over the Coach & Horses Inn, owned by the company.
£
Balance at 01 June 2022 0
Balance at 31 May 2023 562,872

SHEFFIELD F.C. THE OLDEST FOOTBALL CLUB IN THE WORLD' EST 1857 LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2023

11. Post balance sheet events

Post year-end event: On 1 November 2023 a further 3,000,000 Ordinary shares of £0.10 each were issued at par.