London Football Association Limited - Accounts to registrar (filleted) - small 17.3

Financial Statements

for the Year Ended 30 June 2017

for

London Football Association Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G R Dorling

I L Wallis

D R Harris

Sir S H W Hughes

Mrs G Shirley

P H Mortimer

Ms L Dorling

Ms K L Furber

A Morgan

REGISTERED OFFICE:

11 Hurlingham Business Park

Sulivan Road

Fulham

London

SW6 3DU

REGISTERED NUMBER:

04102875 (England and Wales)

AUDITORS:

Williams & Co

Statutory Auditors

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

890,136

897,299

Investments

5

989,812

815,273

1,879,948

1,712,572

CURRENT ASSETS

Stocks

-

1,929

Debtors

6

28,219

54,302

Cash at bank

395,951

369,697

424,170

425,928

CREDITORS

Amounts falling due within one year

7

159,704

144,429

NET CURRENT ASSETS

264,466

281,499

TOTAL ASSETS LESS CURRENT LIABILITIES

2,144,414

1,994,071

PROVISIONS FOR LIABILITIES

8

121,821

103,595

NET ASSETS

2,022,593

1,890,476

RESERVES

Fair value reserve

9

765,918

693,013

Income and expenditure account

9

1,256,675

1,197,463

2,022,593

1,890,476

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 13 December 2017 and were signed on its behalf by:

G R Dorling - Director

1.	STATUTORY INFORMATION

London 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is generated from a number of sources across the footballing community.

Subscriptions and affiliation fees are generated from member clubs and referees, and turnover is

derived from fines and costs where individuals of member teams are subject to disciplinary action for

on field offences (red & yellow cards etc).

The Association run various cup competitions for member clubs which generate turnover in the form of

cup entry fees, external sponsorship and gate receipts from spectators.

The Association run a number of coaching and development courses across a wide range of age and

skill classes, across a number of different social groups.

Fines and costs are accounted for on a receipts basis, which is considered by the Directors to show no

material difference than if it were accounted for under the accruals convention.

All other turnover is accounted for in respect of the period to which it relates.

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Plant and machinery

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the

period of the lease.

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 profit or loss in the period to which they relate.

Grants received from the football association

Grants received have been included within 'Football Association Grants' in the profit and loss account

and are accounted for in full at the time of receipt.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST OR VALUATION

At 1 July 2016

905,000

112,579

1,017,579

Additions

-

2,651

2,651

At 30 June 2017

905,000

115,230

1,020,230

DEPRECIATION

At 1 July 2016

9,050

111,230

120,280

Charge for year

9,051

763

9,814

At 30 June 2017

18,101

111,993

130,094

NET BOOK VALUE

At 30 June 2017

886,899

3,237

890,136

At 30 June 2016

895,950

1,349

897,299

Cost or valuation at 30 June 2017 is represented by:

Freehold

Plant and

property

machinery

Totals

£

£

£

Valuation in 2015

357,702

-

357,702

Cost

547,298

115,230

662,528

905,000

115,230

1,020,230

The freehold property was revalued in January 2015 by Milestone & Collis Limited, a firm of Chartered

Surveyors, who determined the value to be £905,000.

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 July 2016

815,273

Additions

107,087

Disposals

(23,679

)

Revaluations

91,131

At 30 June 2017

989,812

NET BOOK VALUE

At 30 June 2017

989,812

At 30 June 2016

815,273

Cost or valuation at 30 June 2017 is represented by:

Listed

investments

£

Valuation in 2016

338,473

Valuation in 2017

91,131

Cost

560,208

989,812

Market value of listed investments at 30 June 2017 - £ 989,812 (2016 - £ 815,273 ).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

11,235

42,018

Other debtors & prepayments

16,984

12,284

28,219

54,302

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

5,921

1,255

Other creditors

18,500

26,498

Accruals and deferred income

135,283

116,676

159,704

144,429

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

121,821

103,595

Deferred

tax

£

Balance at 1 July 2016

Prior year adjustment

103,595

As restated

103,595

Provided during year

18,226

Balance at 30 June 2017

121,821

Deferred tax has been provided for in the event that either the property or investment portfolios are

sold. Indexation allowance has been taken into account in calculating deferred tax on the property, but

rollover relief which may be available on sale has not been factored in. Indexation allowance has not

been factored into the deferred tax calculation on the investment portfolio due to the nature and

fluctuation of the assets contained in the portfolio.

9.

RESERVES

Income

and

Fair

expenditure

value

account

reserve

Totals

£

£

£

At 1 July 2016

1,197,463

693,013

1,890,476

Surplus for the year

132,117

132,117

Fair value transfer

(72,905

)

72,905

-

At 30 June 2017

1,256,675

765,918

2,022,593

Revaluation of the company's fixed assets has taken place in the year in accordance with FRS 102.

Full provision has been made on the corporation tax that would be payable in the event that the assets

were sold at these value and this has been reflected in the reserves of the company.

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

The Report of the Auditors was unqualified.

Paul Smith BSc FCA (Senior Statutory Auditor)

for and on behalf of Williams & Co

11.	ULTIMATE CONTROLLING PARTY

The Directors consider there to be no ultimate controlling party.