|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 30 JUNE 2018 |
|
FOR |
|
BARNET FOOTBALL CLUB ACADEMY LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 30 JUNE 2018 |
|
FOR |
|
BARNET FOOTBALL CLUB ACADEMY LIMITED |
BARNET FOOTBALL CLUB ACADEMY LIMITED (REGISTERED NUMBER: 08164819) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 |
|
BARNET FOOTBALL CLUB ACADEMY LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2018 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
INDEPENDENT AUDITORS : |
|
Chartered Accountants & Statutory Auditors |
1 Kings Avenue |
London |
N21 3NA |
BARNET FOOTBALL CLUB ACADEMY LIMITED (REGISTERED NUMBER: 08164819) |
|
STATEMENT OF FINANCIAL POSITION |
30 JUNE 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
RESERVES |
Retained earnings | ( |
) | ( |
) |
MEMBERS' FUNDS | ( |
) | ( |
) |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
BARNET FOOTBALL CLUB ACADEMY LIMITED (REGISTERED NUMBER: 08164819) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2018 |
|
1. | GENERAL INFORMATION |
|
Barnet Football Club Academy Limited is a
|
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Significant judgements and estimates |
In preparing the financial statements, management is required to make estimates and assumptions which affect |
reported income, expenses, assets and liabilities. Use of available information and application of judgement are |
inherent in formation of estimates, together with past experience and expectations of future events which are |
believed to be reasonable under the circumstances. |
|
There are no key judgements that management have made in the process of applying the Company's |
accounting policies and that have the most significant effect on the amounts recognised in the financial |
statements. |
|
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and |
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or |
receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Revenue of the company is recognised as follows:- |
|
- in respect of services and activities as an academy |
- in respect of grants; over the period of the grant on a systematic basis |
- in respect of sponsorship; over the period of the sponsorship |
|
Property, plant and equipment |
Property, plant and equipment under the cost model are stated at historical cost less accumulated depreciation |
and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to |
bringing the asset to the location and condition necessary for it to be capable of operating in the manner |
intended by management. |
|
Depreciation is provided on the following basis: |
Fixtures and fittings - 25% on cost |
Office equipment - 25% on cost |
|
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
appropriate, or if there is an indication of a significant change since the last reporting date. |
|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount |
and are recognised in profit or loss. |
BARNET FOOTBALL CLUB ACADEMY LIMITED (REGISTERED NUMBER: 08164819) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2018 |
|
2. | ACCOUNTING POLICIES - continued |
|
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors and loans to related parties. |
|
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method, less any impairment. |
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice |
of not more than 24 hours. |
|
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair |
value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest |
method. |
|
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other |
accounts receivable and payable, are initially measured at present value of the future cash flows and |
subsequently at amortised cost using the effective interest method. Debt instruments that are payable or |
receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the |
undiscounted amount of the cash or other consideration expected to be paid or received. |
|
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
|
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original |
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any |
impairment loss is the current effective interest rate determined under the contract. |
|
For financial assets measured at cost less impairment, the impairment loss is measured as the difference |
between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of |
the amount that the Company would receive for the asset if it were to be sold at the reporting date. |
|
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when |
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis |
or to realise the asset and settle the liability simultaneously. |
|
Current and deferred taxation |
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss, except that a |
charge attributable to an item of income and expense recognised as other comprehensive income or to an item |
recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
|
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or |
substantively enacted by the reporting date in the countries where the Company operates and generates |
income. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
|
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. |
|
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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
BARNET FOOTBALL CLUB ACADEMY LIMITED (REGISTERED NUMBER: 08164819) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2018 |
|
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2017 |
and 30 June 2018 |
|
|
|
DEPRECIATION |
At 1 July 2017 |
|
|
|
Charge for year |
|
|
|
At 30 June 2018 |
|
|
|
NET BOOK VALUE |
At 30 June 2018 |
|
|
|
At 30 June 2017 |
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Other creditors |
|
|
|
|
|
7. | DEFERRED TAX |
£ |
Balance at 1 July 2017 | ( |
) |
Provided during year |
|
Balance at 30 June 2018 |
|
|
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
9. | RELATED PARTY DISCLOSURES |
|
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. |
|
Amounts owed to related undertakings are non-interest bearing and repayable on demand. |
BARNET FOOTBALL CLUB ACADEMY LIMITED (REGISTERED NUMBER: 08164819) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2018 |
|
10. | CONTROLLING PARTY |
|
The ultimate controlling party is
|
|
The immediate parent company is Barnet Football Club Holdings Limited. The ultimate parent company is |
Double A group Limited. |
|
11. | LIMITED BY GUARANTEE |
|
The Company is a private company limited by guarantee and consequently does not have share capital. Each of |
the members is liable to contribute an amount not exceeding £10 towards the assets of the Company in the |
event of liquidation. |