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Abbreviated Accounts |
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for the Year Ended 31 May 2016 |
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for |
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Lincoln City Football Club |
Company Limited |
REGISTERED NUMBER:
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Abbreviated Accounts |
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for the Year Ended 31 May 2016 |
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for |
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Lincoln City Football Club |
Company Limited |
Lincoln City Football Club |
Company Limited (Registered number: 00045611) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 May 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Lincoln City Football Club |
Company Limited |
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Company Information |
for the Year Ended 31 May 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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Lincoln City Football Club |
Company Limited (Registered number: 00045611) |
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Abbreviated Balance Sheet |
31 May 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Revaluation reserve |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS |
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Lincoln City Football Club |
Company Limited (Registered number: 00045611) |
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Abbreviated Balance Sheet - continued |
31 May 2016 |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of
the Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Lincoln City Football Club |
Company Limited (Registered number: 00045611) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 May 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by |
the revaluation of certain assets and in accordance with the Financial Reporting Standard for |
Smaller Entities (effective January 2015). |
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Preparation of consolidated financial statements |
The financial statements contain information about Lincoln City Football Club Company Limited as |
an individual company and do not contain consolidated financial information as the parent of a |
group. The company has taken the option under Section 398 of the Companies Act 2006 not to |
prepare consolidated financial statements. |
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Turnover |
Turnover represents gate monies, league levy and cup pool, advertising and sponsorship income, |
bar and catering, retail shop and all weather pitch income, excluding Value Added Tax. |
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Tangible fixed assets |
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Freehold property | - |
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Equipment | - |
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All weather pitch | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the |
balance sheet date, the company has entered into a binding agreement to sell the assets and |
recognised the gains and losses expected to arise on sale or where assets have been sold and it |
is expected that the taxable gain will be rolled over into a replacement asset. |
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Hire purchase and leasing commitments |
Assets obtained under hire contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held |
under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the |
relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line |
basis over the period of the lease. |
Lincoln City Football Club |
Company Limited (Registered number: 00045611) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 May 2016 |
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1. | ACCOUNTING POLICIES - continued |
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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 profit and loss account in the period to which they |
relate. |
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Pensions are paid to some employees' personal pension plans. These costs are charged to the |
profit and loss account as they occur. |
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Government grants |
Government grants received are treated as deferred creditors and credited to the profit and loss |
account over the estimated useful life of the relevant fixed assets. |
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Deferred income |
Deferred income comprises amounts received from sponsorship, season tickets and other income |
which is released to the profit and loss on a straight line basis over the period to which it relates. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
Additions |
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At 31 May 2016 |
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AMORTISATION |
Amortisation for year |
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At 31 May 2016 |
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NET BOOK VALUE |
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At 31 May 2016 |
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Lincoln City Football Club |
Company Limited (Registered number: 00045611) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 May 2016 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 June 2015 |
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Additions |
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Disposals | ( |
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At 31 May 2016 |
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DEPRECIATION |
At 1 June 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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4. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST |
At 1 June 2015 |
and 31 May 2016 | 1 |
NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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The company's investments at the Balance Sheet date in the share capital of companies include |
the following: |
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Nature of business:
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Class of shares: | holding |
Ordinary | 100.00 |
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£ | £ |
Aggregate capital and reserves | 1 | 1 |
Lincoln City Football Club |
Company Limited (Registered number: 00045611) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 May 2016 |
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5. | CREDITORS |
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Creditors include an amount of £
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They also include the following debts falling due in more than five years: |
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2016 | 2015 |
£ | £ |
Repayable by instalments | - | 11,562 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | 50p |
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7. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Lincoln City Holdings Limited. |
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8. | GOING CONCERN |
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The company continues to be supported by it's parent company and underlying investors. "On |
pitch" performance in the current year has also resulted in profits in excess of budgets being |
created and cash being generated. |