REPORT OF THE DIRECTORS AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
FOR
BISHOPS STORTFORD COMMUNITY FOOTBALL
CLUB
BISHOPS STORTFORD COMMUNITY FOOTBALL
CLUB
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
|
Page |
Company Information |
1 |
Report of the Directors |
2 |
Profit and Loss Account and Retained Earnings |
3 |
Balance Sheet |
4 |
Notes to the Financial Statements |
5 |
Chartered Accountants' Report |
7 |
Detailed Profit and Loss Account |
8 |
BISHOPS STORTFORD COMMUNITY FOOTBALL
CLUB
COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2021
DIRECTORS:A T Hazell
G K Hegley
M Laforce
M D Warwick
REGISTERED OFFICE:38 Raynham Road
Bishops Stortford
Hertfordshire
CM23 5PE
REGISTERED NUMBER:10155123 (England and Wales)
ACCOUNTANTS:Barrow LLP
Rae House
Dane Street
Bishops Stortford
Herts
CM23 3BT
Page 1
BISHOPS STORTFORD COMMUNITY FOOTBALL
CLUB
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 JULY 2021
The directors present their report with the financial statements of the company for the year ended 31 July 2021.
DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2020 to the date of this report.
A T Hazell
G K Hegley
M Laforce
M D Warwick
STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directorsare responsiblefor preparingthe Reportof the Directorsand the financialstatementsin accordancewith applicable law
and regulations.
Companylaw requiresthe directorsto preparefinancialstatementsfor each financialyear.Under that law the directorshave elected
topreparethefinancialstatementsinaccordancewithUnitedKingdomGenerallyAcceptedAccountingPractice(United Kingdom
AccountingStandardsandapplicablelaw).Undercompanylawthedirectorsmustnotapprovethefinancialstatementsunless they
are satisfiedthattheygivea trueand fairviewof the stateof affairsof the companyand of the profitor lossof the companyfor that
period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Thedirectorsareresponsibleforkeepingadequateaccountingrecordsthataresufficienttoshowandexplainthe company's
transactionsand disclosewith reasonableaccuracyat any time the financialpositionof the companyand enablethem to ensure that
the financialstatementscomplywith the CompaniesAct 2006. They are also responsiblefor safeguardingthe assetsof the company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
G K Hegley - Director
28 April 2022
Page 2
BISHOPS STORTFORD COMMUNITY FOOTBALL CLUB
PROFIT AND LOSS ACCOUNT AND RETAINED EARNINGS FOR THE YEAR ENDED 31 JULY 2021
TURNOVER
Administrative expenses
OPERATING (LOSS)/PROFIT
Interest receivable and similar income
(LOSS)/PROFIT BEFORE TAXATION
Tax on (loss)/profit
(LOSS)/PROFIT FOR THE FINANCIAL YEAR
Retained earnings at beginning of year
RETAINED EARNINGS AT END OF YEAR |
31.7.21
£
165,648
(224,577)
(58,929)
100
(58,829)
-
(58,829)
15,110
(43,719) |
31.7.20
£
146,084
(128,070)
18,014
156
18,170
-
18,170
(3,060)
15,110 |
|
|
|
The notes form part of these financial statements
Page 3
BISHOPS STORTFORD COMMUNITY FOOTBALL CLUB (REGISTERED NUMBER: 10155123)
BALANCE SHEET 31 JULY 2021
Notes
CURRENT ASSETS
Debtors
5
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
6
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
RESERVES
Other reserves
Retained earnings |
31.7.21
£
2,988
102,347
105,335
(64,325)
41,010
41,010
84,729
(43,719)
41,010 |
31.7.20
£
977
123,439
124,416
(24,577)
99,839
99,839
84,729
15,110
99,839 |
|
|
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyearended31July2021 in
accordance with Section 476 of the Companies Act 2006.
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.
Thefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocompaniessubjecttothe small
companies regime.
Thefinancialstatementswereapprovedby theBoardof Directorsandauthorisedforissueon 28 April2022andweresignedon its
behalf by:
A T Hazell - Director
G K Hegley - Director
M Laforce - Director
M D Warwick - Director
The notes form part of these financial statements
Page 4
BISHOPS STORTFORD COMMUNITY FOOTBALL
CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1. STATUTORY INFORMATION
BishopsStortfordCommunityFootballClubisaprivatecompany,registeredinEnglandandWales.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. STATEMENT OF COMPLIANCE
ThesefinancialstatementshavebeenpreparedinaccordancewithFinancialReportingStandard102"The Financial
ReportingStandardapplicablein the UK and Republicof Ireland"includingthe provisionsof Section1A "SmallEntities" and
the Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.
Turnover
Turnoveris measuredat the fair value of the considerationreceivedor receivable,excludingdiscounts,rebates,value added
tax and other sales taxes.
Financial instruments
A financialasset or a financialliabilityis recognisedonly when the entitybecomesa party to the contractualprovisionsof the
instruments.
Basicfinancialinstrumentsareinitiallyrecognisedatthetransactionprice,unlessthearrangementconstitutes,ineffect, a
financingtransaction,whereitisrecognisedatthepresentvalueofthefuturepaymentsdiscountedatamarketrate of
interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Otherfinancialinstrumentsareinitiallyrecognisedatfairvalue,unlesspaymentforanassetisdeferredbeyond normal
businesstermsor financedat a rateof interestthatis not a marketrate,in whichcase the assetis measuredat the present
valueofthefuturepaymentsdiscountedata marketrateofinterestfora similardebtinstrument.Financialassetsthat are
measuredatcostoramortisedcostarereviewedforobjectiveevidenceofimpairmentattheendofeachreportingdate. If
there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Anyreversalsofimpairmentarerecognisedin profitorlossimmediately,totheextentthatthereversaldoesnotresultin a
carryingamountofthefinancialassetthatexceedswhatthecarryingamountwouldhavebeenhadtheimpairment not
previously been recognised
Taxation
Taxationfortheyearcomprisescurrentanddeferredtax.TaxisrecognisedintheProfitandLossAccountand Retained
Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Currenttax is recognisedat the amountof tax payableusingthe tax ratesand laws that have been enactedor substantively
enacted by the balance sheet date.
Page 5
BISHOPS STORTFORD COMMUNITY FOOTBALL
CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
3. ACCOUNTING POLICIES - continued
Deferred tax
Deferredtaxisrecognisedinrespectofalltimingdifferencesthathaveoriginatedbutnotreversedatthebalance sheet
date.
Timingdifferencesarisefromtheinclusionofincomeandexpensesintaxassessmentsinperiodsdifferentfromthose in
whichtheyarerecognisedinfinancialstatements.Deferredtaxismeasuredusingtaxratesandlawsthathave been
enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelievedtaxlossesandotherdeferredtaxassetsarerecognisedonlytotheextentthatitisprobablethattheywill be
recovered against the reversal of deferred tax liabilities or other future taxable profits.
4. EMPLOYEES AND DIRECTORS
The average number of employees during the year was NIL (2020 - NIL).
5.
6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
31.7.21 |
31.7.20 |
|
£ |
£ |
Other debtors |
2,988 |
977 |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
31.7.21 |
31.7.20 |
|
£ |
£ |
Trade creditors |
- |
23,791 |
Other creditors |
64,325 |
786 |
|
64,325 |
24,577 |
Page 6
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED FINANCIAL STATEMENTS OF BISHOPS STORTFORD COMMUNITY FOOTBALL CLUB
InordertoassistyoutofulfilyourdutiesundertheCompaniesAct2006,wehavepreparedforyourapprovalthe financial
statementsofBishopsStortfordCommunityFootballClubfortheyearended31July2021whichcomprisetheProfitand Loss
AccountandRetainedEarnings,BalanceSheetandtherelatednotesfromthecompany'saccountingrecordsandfrom information
and explanations you have given us.
Asa practisingmemberfirmoftheInstituteofCharteredAccountantsinEnglandandWales(ICAEW),wearesubjecttoits ethical
andotherprofessionalrequirementswhicharedetailedwithintheICAEW'sregulationsandguidance at
http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This reportis made solelyto the Board of Directorsof BishopsStortfordCommunityFootballClub, as a body, in accordancewith our
termsofengagement.Ourworkhasbeenundertakensolelytoprepareforyourapprovalthefinancialstatementsof Bishops
StortfordCommunityFootballClubandstatethosemattersthatwehaveagreedtostatetotheBoardofDirectorsof Bishops
StortfordCommunityFootballClub,as a body,in thisreportin accordancewithICAEWTechnicalRelease07/16AAF.To the fullest
extentpermittedby law, we do not acceptor assumeresponsibilityto anyoneotherthan BishopsStortfordCommunityFootball Club
and its Board of Directors, as a body, for our work or for this report.
ItisyourdutytoensurethatBishopsStortfordCommunityFootballClubhaskeptadequateaccountingrecordsandto prepare
statutoryfinancialstatementsthatgiveatrueandfairviewoftheassets,liabilities,financialpositionandlossofBishops Stortford
CommunityFootballClub.YouconsiderthatBishopsStortfordCommunityFootballClubisexemptfromthestatutory audit
requirement for the year.
WehavenotbeeninstructedtocarryoutanauditorareviewofthefinancialstatementsofBishopsStortfordCommunity Football
Club.Forthisreason,we havenot verifiedthe accuracyor completenessof the accountingrecordsor informationand explanations
you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Barrow LLP
Rae House
Dane Street
Bishops Stortford
Herts
CM23 3BT
28 April 2022
This page does not form part of the statutory financial statements
Page 7
BISHOPS STORTFORD COMMUNITY FOOTBALL CLUB
DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 JULY 2021
Turnover
Player Subscriptions
Clubhouse and Pitches Hire
Grants and Donations
Other income
Deposit account interest
Expenditure
General Pitch Cost
IT and Office Administration
Costs
Club House and Refurbishment Costs
General Coach Fees
Licences and insurance
Administrator Fees
DBS Checks
Training Courses
Kits, Footballs and Trophies
League Affiliations
Presentation & Tournament Exps
Fines
Accountancy
Professional Fees
Donations
NET (LOSS)/PROFIT |
31.7.21
£
150,668
1,792
13,188
54,501
3,023
7,337
9,910
960
2,955
590
1,095
139,934
1,989
-
-
924
1,359
- |
£
165,648
100
165,748
224,577
(58,829) |
31.7.20
£
124,720
4,679
16,685
60,459
1,274
-
12,145
1,165
4,845
430
776
37,820
5,234
684
258
996
1,944
40 |
£
146,084
156 |
|
|
|
|
146,240
128,070 |
|
|
|
|
18,170 |
This page does not form part of the statutory financial statements
Page 8