Company registration number: 6364892
Bradford City FC Community Foundation Company limited by guarantee
Unaudited financial statements
30 June 2024
Bradford City FC Community Foundation Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Statement of comprehensive income | 3 |
| Statement of financial position | 4 - 5 |
| Statement of changes in equity | 6 |
| Notes to the financial statements | 7 - 11 |
Bradford City FC Community Foundation Company limited by guarantee
Directors and other information
| Directors | Alan Biggin |
|---|---|
| Jean Calvert | |
| Roger Owen | |
| David Ward | |
| Paul Mitchell | |
| Humayun Islam | |
| Secretary | Jean Calvert |
| Company number | 6364892 |
| Registered office | University of Bradford Stadium |
| Valley Parade | |
| Bradford | |
| BD8 7DY | |
| Business address | Valley Parade |
| Bradford | |
| BD8 7DY | |
| Bankers | HSBC |
| 47 Market Street | |
| Bradford | |
| BD1 1LW |
Bradford City FC Community Foundation Company limited by guarantee
Directors report Year ended 30 June 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2024.
Directors
The directors who served the company during the year were as follows:
Alan Biggin Jean Calvert Roger Owen David Ward Paul Mitchell Humayun Islam
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 October 2024 and signed on behalf of the board by:
Jean Calvert Director
Bradford City FC Community Foundation Company limited by guarantee
Statement of comprehensive income Year ended 30 June 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | 976,458 | 993,368 | |
| Cost of sales | - | - | |
| Administrative expenses | ) (910,122 |
) (998,792 |
|
| Operating profit/(loss) | 66,336 | ) (5,424 |
|
| Other interest receivable and similar income | 6,827 | - | |
| Profit/(loss) before taxation | 6 | 73,163 | ) (5,424 |
| Tax on profit/(loss) | - | - | |
| Profit/(loss) for the financial year and total | |||
| comprehensive income | 73,163 | ) (5,424 |
All the activities of the company are from continuing operations.
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of financial position 30 June 2024
| Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets Capital and reserves Revaluation reserve Profit and loss account Members funds |
2024 £ £ 27,174 27,174 35,563 471,105 506,668 ) (1,620 505,048 532,222 532,222 115,631 416,591 532,222 |
2023 £ £ 12,913 12,913 123,571 323,725 447,296 ) (1,150 446,146 459,059 459,059 115,631 343,428 459,059 |
2023 £ £ 12,913 12,913 123,571 323,725 447,296 ) (1,150 446,146 459,059 459,059 115,631 343,428 459,059 |
|---|---|---|---|
| 459,059 | |||
| 459,059 | |||
| 115,631 343,428 |
|||
| 459,059 |
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of financial position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024, and are signed on behalf of the board by:
Jean Calvert Director
Company registration number: 6364892
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of changes in equity Year ended 30 June 2024
| Revaluation reserve Profit and loss account £ £ At 1 July 2022 115,631 348,852 Profit/(loss) for the year ) (5,424 Total comprehensive income for the year - ) (5,424 At 30 June 2023 and 1 July 2023 115,631 343,428 Profit/(loss) for the year 73,163 Total comprehensive income for the year - 73,163 At 30 June 2024 115,631 416,591 |
Total £ 464,483 ) (5,424 ) (5,424 459,059 73,163 73,163 532,222 |
|---|---|
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements Year ended 30 June 2024
1. General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is Bradford City FC Community Foundation, University of Bradford Stadium, Valley Parade, Bradford, BD8 7DY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Limited by guarantee
The Company is limited by guarantee.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2023: 26).
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
6. Profit/loss before taxation
Profit/loss before taxation is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible assets | 9,059 | 4,305 |
7. Tangible assets
| Fixtures, fittings and equipment £ Cost or valuation At 1 July 2023 48,386 Additions - Disposals - Revaluation ) (12 At 30 June 2024 48,374 Depreciation At 1 July 2023 41,976 Charge for the year 1,600 Disposals - At 30 June 2024 43,576 Carrying amount At 30 June 2024 4,798 At 30 June 2023 6,410 8. Debtors Trade debtors Other debtors |
Motor vehicles £ 57,386 24,199 ) (6,500 - 75,085 50,883 7,459 ) (5,633 52,709 22,376 6,503 2024 £ 15,063 20,500 35,563 |
Total £ 105,772 24,199 ) (6,500 ) (12 123,459 92,859 9,059 ) (5,633 96,285 27,174 12,913 2023 £ 112,321 11,250 123,571 |
|---|---|---|
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
9. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,620 | 1,150 |
Bradford City FC Community Foundation Company limited by guarantee
The following pages do not form part of the statutory accounts.
Bradford City FC Community Foundation Company limited by guarantee
Detailed income statement Year ended 30 June 2024
| 2024 2023 |
|
|---|---|
| £ £ |
|
| Turnover | |
| Income | 976,458 993,368 |
| 976,458 993,368 |
|
| Gross profit | 976,458 993,368 |
| Gross profit percentage | % 100.0 % 100.0 |
| Overheads | |
| Administrative expenses | ) (910,122 ) (998,792 |
| ) (910,122 ) (998,792 |
|
| Operating profit/(loss) | 66,336 ) (5,424 |
| Operating profit/(loss) percentage | % 6.8 % 0.5 |
| Other interest receivable and similar income | 6,827 - |
| Profit/(loss) before taxation | 73,163 ) (5,424 |
Bradford City FC Community Foundation Company limited by guarantee
Detailed income statement (continued) Year ended 30 June 2024
| 2024 2023 |
|
|---|---|
| £ £ |
|
| Overheads | |
| Administrative expenses | |
| Wages and salaries | ) (508,758 ) (584,634 |
| Safer Streets Social Action | ) (22,601 - |
| Staff pension costs - defined contribution | ) (21,695 ) (22,573 |
| Rent payable | ) (21,000 ) (21,000 |
| Rates | ) (333 ) (198 |
| Insurance | ) (2,042 ) (1,620 |
| Consumable equipment and replacements | ) (127,668 ) (116,407 |
| Light and heat | ) (7,907 ) (5,702 |
| Repairs and maintenance | ) (1,009 ) (57,854 |
| Office stationery & Computer costs | ) (13,774 ) (7,568 |
| Advertising | ) (845 ) (1,107 |
| Telephone | ) (6,913 ) (7,719 |
| Computer costs | ) (10,545 - |
| Venue Hire | ) (38,542 ) (69,126 |
| Motor expenses | ) (8,686 ) (9,115 |
| Travelling and entertainment costs | ) (26,896 ) (26,965 |
| Legal and professional | ) (8,000 ) (6,000 |
| Consultancy fees | ) (1,693 ) (34,534 |
| Accountancy fees | ) (3,634 ) (1,350 |
| Bank charges | ) (516 ) (745 |
| Cafe Costs | ) (17,732 - |
| General expenses | ) (55,490 ) (20,270 |
| Depreciation of tangible assets | ) (9,059 ) (4,305 |
| Gain/loss on disposal of tangible assets | 5,216 - |
| ) (910,122 ) (998,792 |
Company registration number: 6364892
Bradford City FC Community Foundation Company limited by guarantee
Unaudited financial statements
30 June 2024
Bradford City FC Community Foundation Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Statement of comprehensive income | 3 |
| Statement of financial position | 4 - 5 |
| Statement of changes in equity | 6 |
| Notes to the financial statements | 7 - 11 |
Bradford City FC Community Foundation Company limited by guarantee
Directors and other information
| Directors | Alan Biggin |
|---|---|
| Jean Calvert | |
| Roger Owen | |
| David Ward | |
| Paul Mitchell | |
| Humayun Islam | |
| Secretary | Jean Calvert |
| Company number | 6364892 |
| Registered office | University of Bradford Stadium |
| Valley Parade | |
| Bradford | |
| BD8 7DY | |
| Business address | Valley Parade |
| Bradford | |
| BD8 7DY | |
| Bankers | HSBC |
| 47 Market Street | |
| Bradford | |
| BD1 1LW |
Bradford City FC Community Foundation Company limited by guarantee
Directors report Year ended 30 June 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2024.
Directors
The directors who served the company during the year were as follows:
Alan Biggin Jean Calvert Roger Owen David Ward Paul Mitchell Humayun Islam
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 October 2024 and signed on behalf of the board by:
Jean Calvert Director
Bradford City FC Community Foundation Company limited by guarantee
Statement of comprehensive income Year ended 30 June 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | 976,458 | 993,368 | |
| Cost of sales | - | - | |
| Administrative expenses | ) (910,122 |
) (998,792 |
|
| Operating profit/(loss) | 66,336 | ) (5,424 |
|
| Other interest receivable and similar income | 6,827 | - | |
| Profit/(loss) before taxation | 6 | 73,163 | ) (5,424 |
| Tax on profit/(loss) | - | - | |
| Profit/(loss) for the financial year and total | |||
| comprehensive income | 73,163 | ) (5,424 |
All the activities of the company are from continuing operations.
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of financial position 30 June 2024
| Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets Capital and reserves Revaluation reserve Profit and loss account Members funds |
2024 £ £ 27,174 27,174 35,563 471,105 506,668 ) (1,620 505,048 532,222 532,222 115,631 416,591 532,222 |
2023 £ £ 12,913 12,913 123,571 323,725 447,296 ) (1,150 446,146 459,059 459,059 115,631 343,428 459,059 |
2023 £ £ 12,913 12,913 123,571 323,725 447,296 ) (1,150 446,146 459,059 459,059 115,631 343,428 459,059 |
|---|---|---|---|
| 459,059 | |||
| 459,059 | |||
| 115,631 343,428 |
|||
| 459,059 |
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of financial position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024, and are signed on behalf of the board by:
Jean Calvert Director
Company registration number: 6364892
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of changes in equity Year ended 30 June 2024
| Revaluation reserve Profit and loss account £ £ At 1 July 2022 115,631 348,852 Profit/(loss) for the year ) (5,424 Total comprehensive income for the year - ) (5,424 At 30 June 2023 and 1 July 2023 115,631 343,428 Profit/(loss) for the year 73,163 Total comprehensive income for the year - 73,163 At 30 June 2024 115,631 416,591 |
Total £ 464,483 ) (5,424 ) (5,424 459,059 73,163 73,163 532,222 |
|---|---|
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements Year ended 30 June 2024
1. General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is Bradford City FC Community Foundation, University of Bradford Stadium, Valley Parade, Bradford, BD8 7DY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Limited by guarantee
The Company is limited by guarantee.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2023: 26).
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
6. Profit/loss before taxation
Profit/loss before taxation is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible assets | 9,059 | 4,305 |
7. Tangible assets
| Fixtures, fittings and equipment £ Cost or valuation At 1 July 2023 48,386 Additions - Disposals - Revaluation ) (12 At 30 June 2024 48,374 Depreciation At 1 July 2023 41,976 Charge for the year 1,600 Disposals - At 30 June 2024 43,576 Carrying amount At 30 June 2024 4,798 At 30 June 2023 6,410 8. Debtors Trade debtors Other debtors |
Motor vehicles £ 57,386 24,199 ) (6,500 - 75,085 50,883 7,459 ) (5,633 52,709 22,376 6,503 2024 £ 15,063 20,500 35,563 |
Total £ 105,772 24,199 ) (6,500 ) (12 123,459 92,859 9,059 ) (5,633 96,285 27,174 12,913 2023 £ 112,321 11,250 123,571 |
|---|---|---|
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
9. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,620 | 1,150 |
Bradford City FC Community Foundation Company limited by guarantee
The following pages do not form part of the statutory accounts.
Bradford City FC Community Foundation Company limited by guarantee
Detailed income statement Year ended 30 June 2024
| 2024 2023 |
|
|---|---|
| £ £ |
|
| Turnover | |
| Income | 976,458 993,368 |
| 976,458 993,368 |
|
| Gross profit | 976,458 993,368 |
| Gross profit percentage | % 100.0 % 100.0 |
| Overheads | |
| Administrative expenses | ) (910,122 ) (998,792 |
| ) (910,122 ) (998,792 |
|
| Operating profit/(loss) | 66,336 ) (5,424 |
| Operating profit/(loss) percentage | % 6.8 % 0.5 |
| Other interest receivable and similar income | 6,827 - |
| Profit/(loss) before taxation | 73,163 ) (5,424 |
Bradford City FC Community Foundation Company limited by guarantee
Detailed income statement (continued) Year ended 30 June 2024
| 2024 2023 |
|
|---|---|
| £ £ |
|
| Overheads | |
| Administrative expenses | |
| Wages and salaries | ) (508,758 ) (584,634 |
| Safer Streets Social Action | ) (22,601 - |
| Staff pension costs - defined contribution | ) (21,695 ) (22,573 |
| Rent payable | ) (21,000 ) (21,000 |
| Rates | ) (333 ) (198 |
| Insurance | ) (2,042 ) (1,620 |
| Consumable equipment and replacements | ) (127,668 ) (116,407 |
| Light and heat | ) (7,907 ) (5,702 |
| Repairs and maintenance | ) (1,009 ) (57,854 |
| Office stationery & Computer costs | ) (13,774 ) (7,568 |
| Advertising | ) (845 ) (1,107 |
| Telephone | ) (6,913 ) (7,719 |
| Computer costs | ) (10,545 - |
| Venue Hire | ) (38,542 ) (69,126 |
| Motor expenses | ) (8,686 ) (9,115 |
| Travelling and entertainment costs | ) (26,896 ) (26,965 |
| Legal and professional | ) (8,000 ) (6,000 |
| Consultancy fees | ) (1,693 ) (34,534 |
| Accountancy fees | ) (3,634 ) (1,350 |
| Bank charges | ) (516 ) (745 |
| Cafe Costs | ) (17,732 - |
| General expenses | ) (55,490 ) (20,270 |
| Depreciation of tangible assets | ) (9,059 ) (4,305 |
| Gain/loss on disposal of tangible assets | 5,216 - |
| ) (910,122 ) (998,792 |
Company registration number: 6364892
Bradford City FC Community Foundation Company limited by guarantee
Unaudited financial statements
30 June 2024
Bradford City FC Community Foundation Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Statement of comprehensive income | 3 |
| Statement of financial position | 4 - 5 |
| Statement of changes in equity | 6 |
| Notes to the financial statements | 7 - 11 |
Bradford City FC Community Foundation Company limited by guarantee
Directors and other information
| Directors | Alan Biggin |
|---|---|
| Jean Calvert | |
| Roger Owen | |
| David Ward | |
| Paul Mitchell | |
| Humayun Islam | |
| Secretary | Jean Calvert |
| Company number | 6364892 |
| Registered office | University of Bradford Stadium |
| Valley Parade | |
| Bradford | |
| BD8 7DY | |
| Business address | Valley Parade |
| Bradford | |
| BD8 7DY | |
| Bankers | HSBC |
| 47 Market Street | |
| Bradford | |
| BD1 1LW |
Bradford City FC Community Foundation Company limited by guarantee
Directors report Year ended 30 June 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2024.
Directors
The directors who served the company during the year were as follows:
Alan Biggin Jean Calvert Roger Owen David Ward Paul Mitchell Humayun Islam
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 October 2024 and signed on behalf of the board by:
Jean Calvert Director
Bradford City FC Community Foundation Company limited by guarantee
Statement of comprehensive income Year ended 30 June 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | 976,458 | 993,368 | |
| Cost of sales | - | - | |
| Administrative expenses | ) (910,122 |
) (998,792 |
|
| Operating profit/(loss) | 66,336 | ) (5,424 |
|
| Other interest receivable and similar income | 6,827 | - | |
| Profit/(loss) before taxation | 6 | 73,163 | ) (5,424 |
| Tax on profit/(loss) | - | - | |
| Profit/(loss) for the financial year and total | |||
| comprehensive income | 73,163 | ) (5,424 |
All the activities of the company are from continuing operations.
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of financial position 30 June 2024
| Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets Capital and reserves Revaluation reserve Profit and loss account Members funds |
2024 £ £ 27,174 27,174 35,563 471,105 506,668 ) (1,620 505,048 532,222 532,222 115,631 416,591 532,222 |
2023 £ £ 12,913 12,913 123,571 323,725 447,296 ) (1,150 446,146 459,059 459,059 115,631 343,428 459,059 |
2023 £ £ 12,913 12,913 123,571 323,725 447,296 ) (1,150 446,146 459,059 459,059 115,631 343,428 459,059 |
|---|---|---|---|
| 459,059 | |||
| 459,059 | |||
| 115,631 343,428 |
|||
| 459,059 |
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of financial position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024, and are signed on behalf of the board by:
Jean Calvert Director
Company registration number: 6364892
The notes on pages 7 to 11 form part of these financial statements.
Bradford City FC Community Foundation Company limited by guarantee
Statement of changes in equity Year ended 30 June 2024
| Revaluation reserve Profit and loss account £ £ At 1 July 2022 115,631 348,852 Profit/(loss) for the year ) (5,424 Total comprehensive income for the year - ) (5,424 At 30 June 2023 and 1 July 2023 115,631 343,428 Profit/(loss) for the year 73,163 Total comprehensive income for the year - 73,163 At 30 June 2024 115,631 416,591 |
Total £ 464,483 ) (5,424 ) (5,424 459,059 73,163 73,163 532,222 |
|---|---|
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements Year ended 30 June 2024
1. General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is Bradford City FC Community Foundation, University of Bradford Stadium, Valley Parade, Bradford, BD8 7DY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Limited by guarantee
The Company is limited by guarantee.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2023: 26).
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
6. Profit/loss before taxation
Profit/loss before taxation is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible assets | 9,059 | 4,305 |
7. Tangible assets
| Fixtures, fittings and equipment £ Cost or valuation At 1 July 2023 48,386 Additions - Disposals - Revaluation ) (12 At 30 June 2024 48,374 Depreciation At 1 July 2023 41,976 Charge for the year 1,600 Disposals - At 30 June 2024 43,576 Carrying amount At 30 June 2024 4,798 At 30 June 2023 6,410 8. Debtors Trade debtors Other debtors |
Motor vehicles £ 57,386 24,199 ) (6,500 - 75,085 50,883 7,459 ) (5,633 52,709 22,376 6,503 2024 £ 15,063 20,500 35,563 |
Total £ 105,772 24,199 ) (6,500 ) (12 123,459 92,859 9,059 ) (5,633 96,285 27,174 12,913 2023 £ 112,321 11,250 123,571 |
|---|---|---|
Bradford City FC Community Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2024
9. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,620 | 1,150 |
Bradford City FC Community Foundation Company limited by guarantee
The following pages do not form part of the statutory accounts.
Bradford City FC Community Foundation Company limited by guarantee
Detailed income statement Year ended 30 June 2024
| 2024 2023 |
|
|---|---|
| £ £ |
|
| Turnover | |
| Income | 976,458 993,368 |
| 976,458 993,368 |
|
| Gross profit | 976,458 993,368 |
| Gross profit percentage | % 100.0 % 100.0 |
| Overheads | |
| Administrative expenses | ) (910,122 ) (998,792 |
| ) (910,122 ) (998,792 |
|
| Operating profit/(loss) | 66,336 ) (5,424 |
| Operating profit/(loss) percentage | % 6.8 % 0.5 |
| Other interest receivable and similar income | 6,827 - |
| Profit/(loss) before taxation | 73,163 ) (5,424 |
Bradford City FC Community Foundation Company limited by guarantee
Detailed income statement (continued) Year ended 30 June 2024
| 2024 2023 |
|
|---|---|
| £ £ |
|
| Overheads | |
| Administrative expenses | |
| Wages and salaries | ) (508,758 ) (584,634 |
| Safer Streets Social Action | ) (22,601 - |
| Staff pension costs - defined contribution | ) (21,695 ) (22,573 |
| Rent payable | ) (21,000 ) (21,000 |
| Rates | ) (333 ) (198 |
| Insurance | ) (2,042 ) (1,620 |
| Consumable equipment and replacements | ) (127,668 ) (116,407 |
| Light and heat | ) (7,907 ) (5,702 |
| Repairs and maintenance | ) (1,009 ) (57,854 |
| Office stationery & Computer costs | ) (13,774 ) (7,568 |
| Advertising | ) (845 ) (1,107 |
| Telephone | ) (6,913 ) (7,719 |
| Computer costs | ) (10,545 - |
| Venue Hire | ) (38,542 ) (69,126 |
| Motor expenses | ) (8,686 ) (9,115 |
| Travelling and entertainment costs | ) (26,896 ) (26,965 |
| Legal and professional | ) (8,000 ) (6,000 |
| Consultancy fees | ) (1,693 ) (34,534 |
| Accountancy fees | ) (3,634 ) (1,350 |
| Bank charges | ) (516 ) (745 |
| Cafe Costs | ) (17,732 - |
| General expenses | ) (55,490 ) (20,270 |
| Depreciation of tangible assets | ) (9,059 ) (4,305 |
| Gain/loss on disposal of tangible assets | 5,216 - |
| ) (910,122 ) (998,792 |