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PETERBOROUGH & DISTRICT FOOTBALL LEAGUE CIC
(A PRIVATE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2015
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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
Straight line over 3 years
Fixtures, fittings & equipment
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