REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019 |
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SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019 |
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FOR |
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SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED |
SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED (REGISTERED NUMBER: 08729214) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2019 |
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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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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
Jamesons House |
Compton Way |
Witney |
OX28 3AB |
SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED (REGISTERED NUMBER: 08729214) |
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BALANCE SHEET |
31 JULY 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 | ( |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED (REGISTERED NUMBER: 08729214) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2019 |
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1. | STATUTORY INFORMATION |
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Sunderland Association Football Club Ladies Limited is a
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England and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover comprises gate receipts, grants, sponsorship and invoiced sales, exclusive of value added tax. Gate |
receipt income is taken to the profit and loss account when the matches are played. Sponsorship and grant |
income is recognised over the life of the relevant agreements. |
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Accrued income |
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Income from match day activities, media and commercial contracts, which is invoiced after the period to which |
it relates, is treated as accrued income. |
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Deferred income |
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Income from match day activities, media and commercial contracts which have been invoiced prior to the |
period end in respect of future football seasons, is treated as deferred income. |
SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED (REGISTERED NUMBER: 08729214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
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Basic financial assets, including other receivables and cash and bank balances, are initially recognised at |
transaction price, unless the arrangement constitutes a financing transaction which is measured at the present |
value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at |
amortised cost. |
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At the end of each reporting period financial assets measured at amortised cost are assessed for objective |
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying |
amount and the present value of the estimated cash flows discounted at the assets' original effective interest |
rate. The impairment loss is recognised in the statement of comprehensive income. |
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Other financial assets, including investments in equity instruments which are not subsidiaries, associates or |
joint ventures, are initially measured at fair value, which is normally the transaction price. |
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Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, |
except that investments in equity instruments that are not publicly traded and whose fair values cannot be |
measured reliably are measured at cost less impairment. |
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Financial assets are derecognised when (i) the contractual rights to the cash flows from the asset expire or are |
settled, or (ii) substantially all the risks and rewards of the ownership of the asset are transferred to another |
party, or (iii) control of the asset has been transferred to another party who has the practical ability to |
unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other payables and loans from fellow group undertakings, are |
initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the |
debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost. |
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Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent |
that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the |
draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be |
drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the |
facility to which it relates. |
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Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year |
or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at |
transaction price and subsequently measured at amortised cost using the effective interest method. |
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Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial |
instruments. |
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Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are |
subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or |
loss in finance costs or finance income as appropriate, unless they are included in a hedging arrangement. |
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SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED (REGISTERED NUMBER: 08729214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2019 |
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2. | ACCOUNTING POLICIES - continued |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation |
is discharged, cancelled or expires. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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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. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Going concern |
The immediate controlling party and the ultimate controlling party has indicated their willingness to continue |
to support the operations of the Company for the foreseeable future, which is at least, but is not limited to, |
twelve months from the date of these financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 August 2018 |
and 31 July 2019 |
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DEPRECIATION |
At 1 August 2018 |
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Charge for year |
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At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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SUNDERLAND ASSOCIATION FOOTBALL CLUB |
LADIES LIMITED (REGISTERED NUMBER: 08729214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors | ( |
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( |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | 1 | 1 | 1 |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | ULTIMATE PARENT COMPANY |
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SJD Leisure Holdings Limited is regarded by the directors as being the ultimate parent company. The registered |
office address is Jamesons House, 6 Compton Way, Witney, Oxon, OX28 3AB. |