2015 PDFL AGM WEB

PETERBOROUGH & DISTRICT FOOTBALL LEAGUE CIC (A PRIVATE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MAY 2015

1 Accounting policies

1.1 Accounting convention The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). 1.2 Compliance with accounting standards The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3 Turnover Turnover represents amounts receivable for services provided to its member clubs.

1.4 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold Fixtures, fittings & equipment

Straight line over 3 years Straight line over 2 or 3 years

1.5 Stock Stock is valued at the lower of cost and net realisable value.

2 Operating profit

2015

2014

£

£

Operating profit is stated after charging: Depreciation of tangible assets

2,962

2,502

Directors' remuneration

27,420

19,498

Directors remuneration includes Mrs Newey's remuneration of £27,420 (2014: £19,293) for her role as Secretary. An element of the secretarial remuneration has been recharged to the United Counties Football League and is included in the UCL management charge income figure.

3 Investment income

2015

2014

£

£

Bank interest

13

15

13

15

14

- 6 -