Company Registration No. 03338049 (England and Wales)
DAVID CAMPBELL SOCCER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
DAVID CAMPBELL SOCCER LIMITED
COMPANY INFORMATION
Directors
D Campbell
L Sass
Secretary
L Sass
Company number
03338049
Registered office
28 Kingsway
Waterloo
Liverpool
L22 4RQ
Accountants
M J Goldman (Chartered Accountants)
Hollinwood Business Centre
Albert Street
Oldham
Lancashire
OL8 3QL
DAVID CAMPBELL SOCCER LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DAVID CAMPBELL SOCCER LIMITED
BALANCE SHEET
AS AT
28 SEPTEMBER 2019
28 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,988
3,558
Current assets
Debtors
4
38,118
55,618
Cash at bank and in hand
22,929
33,947
61,047
89,565
Creditors: amounts falling due within one year
5
(104,094)
(127,607)
Net current liabilities
(43,047)
(38,042)
Total assets less current liabilities
(41,059)
(34,484)
Provisions for liabilities
(378)
-
Net liabilities
(41,437)
(34,484)
Reserves
Income and expenditure account
(41,437)
(34,484)
Members' funds
(41,437)
(34,484)
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.
true
For the financial year ended 28 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 September 2020 and are signed on its behalf by:
L Sass
Director
Company Registration No. 03338049
DAVID CAMPBELL SOCCER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information
David Campbell Soccer Limited is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
28 Kingsway, Waterloo, Liverpool, L22 4RQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, except for modification to a fair value basis where specified in the accounting policies below.
1.2
Going concern
These financial statements are prepared on a going concern basis. At the time of approving the financial statements, the directors have a responsible expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In particular, intercompany loans included within creditors will not need to be repaid until the company is in a position to do so. Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements.
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Revenue is recognised at the point where soccer school services have been provided.
Expenses include VAT where applicable as the company cannot reclaim it.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Straight Line
Fixtures and fittings
20% Straight Line
Computers
33% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to surplus or deficit
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
DAVID CAMPBELL SOCCER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets, which include debtors and cash, together with basic financial liabilities, including creditors, are initially recognised at transaction cost and not amortised as they are either receivable or payable within one year.
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 September 2018
42,522
Disposals
(35,716)
At 28 September 2019
6,806
Depreciation and impairment
At 29 September 2018
38,964
Depreciation charged in the year
1,570
Eliminated in respect of disposals
(35,716)
At 28 September 2019
4,818
Carrying amount
At 28 September 2019
1,988
At 28 September 2018
3,558
DAVID CAMPBELL SOCCER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2019
- 4 -
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
38,118
55,618
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
14,928
13,068
Other creditors
89,166
114,539
104,094
127,607
6
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.