Aldershot Town Football Club Ltd - Abbreviated accounts

Aldershot Town Football Club Ltd - Abbreviated accounts

ALDERSHOT TOWN FOOTBALL CLUB LIMITED - Company Information

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Aldershot Town Football Club Ltd
Registered number: 08362929
Statement of Financial Position
as at 30 June 2017
Notes 2017 2016
£ £
Fixed assets
Intangible assets 3 600,745 614,906
Tangible assets 4 13,060 17,413
613,805 632,319
Current assets
Stocks 5,512 6,862
Debtors 5 51,243 69,035
Cash at bank and in hand 7,744 12,174
64,499 88,071
Creditors: amounts falling due within one year 6 (682,350) (615,113)
Net current liabilities (617,851) (527,042)
Total assets less current liabilities (4,046) 105,277
Creditors: amounts falling due after more than one year 7 - (50,000)
Net (liabilities)/assets (4,046) 55,277
Capital and reserves
Called up share capital 407,600 350,154
Profit and loss account (411,646) (294,877)
Shareholders' funds (4,046) 55,277
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Azeem
Director
Approved by the board on 25 January 2018
Aldershot Town Football Club Ltd
Notes to the Accounts
for the year ended 30 June 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in the notes below.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the directors of the company are funding the company in the form of directors' loans. The directors are planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from match day, sponsorship, commercial, the hire of stadium facilities, the sale of goods and from the provision of youth football services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Player fees
The costs associated with acquiring players’ registrations or extending their contracts, including agents’ fees, are capitalised and amortised, in equal instalments, over the period of the respective players’ contracts.

Profits or losses on the sale of players represent the transfer fee receivable, net of any transactions costs, less the unamortised cost of the applicable player’s registration.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 40 28
3 Intangible fixed assets Goodwill Player fees Total
£ £ £
Cost
At 1 July 2016 683,228 - 683,228
Additions - 30,000 30,000
At 30 June 2017 683,228 30,000 713,228
Amortisation
At 1 July 2016 68,322 - 68,322
Provided during the year 34,161 10,000 44,161
At 30 June 2017 102,483 10,000 112,483
Net book value
At 30 June 2017 580,745 20,000 600,745
At 30 June 2016 614,906 - 614,906
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2016 29,469
At 30 June 2017 29,469
Depreciation
At 1 July 2016 12,056
Charge for the year 4,353
At 30 June 2017 16,409
Net book value
At 30 June 2017 13,060
At 30 June 2016 17,413
5 Debtors 2017 2016
£ £
Trade debtors 9,279 58,911
Prepayments 29,034 10,124
Accrued income 12,560 -
Other debtors 370 -
51,243 69,035
6 Creditors: amounts falling due within one year 2017 2016
£ £
Non-equity preference shares 100,000 50,000
Bank loans and overdrafts 93,623 -
Trade creditors 62,913 202,637
Accruals and deferred income 188,986 184,176
Other taxes and social security costs 36,095 36,300
Other creditors 200,733 142,000
682,350 615,113
7 Creditors: amounts falling due after one year 2017 2016
£ £
Non-equity preference shares - 50,000
8 Related party transactions 2017 2016
£ £
Loans from directors
Included in other creditors are loans made to the company from directors
Amount due from (to) the related parties (125,000) (92,000)
Non-equity preference shares
Included in creditors are non-equity preference shares owned by a director of the company
Amount due from (to) the related party (100,000) (100,000)
9 Other information
Aldershot Town Football Club Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The EBB Stadium
High Street
Aldershot
Hampshire
GU11 1TW
10 Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.

No transitional adjustments were required in equity or profit or loss for the year.
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