Woodford Town Football Club Ltd Company Accounts

Woodford Town Football Club Ltd Company Accounts

WOODFORD TOWN FOOTBALL CLUB LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09459031
Woodford Town Football Club Ltd
Filleted Unaudited Financial Statements
28 February 2018
Woodford Town Football Club Ltd
Financial Statements
Year ended 28 February 2018
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Woodford Town Football Club Ltd
Statement of Financial Position
28 February 2018
2018
2017
Note
£
£
£
Current assets
Stocks
3,600
3,600
Debtors
4
3,333
790
Cash at bank and in hand
126
1,692
-------
-------
7,059
6,082
Creditors: amounts falling due within one year
5
19,146
15,929
--------
--------
Net current liabilities
12,087
9,847
--------
-------
Total assets less current liabilities
( 12,087)
( 9,847)
--------
-------
Net liabilities
( 12,087)
( 9,847)
--------
-------
Capital and reserves
Called up share capital
150
150
Profit and loss account
( 12,237)
( 9,997)
--------
-------
Shareholders deficit
( 12,087)
( 9,847)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 December 2018 , and are signed on behalf of the board by:
Mr J Brissett
Director
Company registration number: 09459031
Woodford Town Football Club Ltd
Notes to the Financial Statements
Year ended 28 February 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooks House, 1 Albion Place, Maidstone, Kent, ME14 5DY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Debtors
2018
2017
£
£
Other debtors
3,333
790
-------
----
5. Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
19,146
15,929
--------
--------