MAURICE ANDREWS Chartered Accountants Global House 1 Ashley Avenue Epsom Surrey KT18 5FL

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1 Registered Number DIRECTORS' REPORT AND FINANCIAL STATEMENTS MAURICE ANDREWS Chartered Accountants Global House 1 Ashley Avenue Epsom Surrey KT18 5FL

2 DIRECTORS A.J. Barry M.J. Bidmead B.G. Elliott D.J. Farebrother A.E. Holland P.L. Letts D.C. Mathers G.F.R. Starns L.G. Wallis B.B. Williams SECRETARY A.P. Dolbear REGISTERED OFFICE The Borough Sports Ground Gander Green Lane Sutton Surrey SM1 2EY REGISTERED NUMBER CONTENTS Pages 1 Directors' Report 2 Profit and Loss Account 3 Balance Sheet 4-7 Notes to the Financial Statements

3 Page 1 DIRECTORS' REPORT The directors submit their report with the unaudited financial statements of the company for the year ended 31 st May PRINCIPAL ACTIVITY The company is principally engaged in the promotion of Sutton United Football Club. DIRECTORS AND THEIR INTERESTS The directors during the year and their beneficial interests (including family interests) in the issued share capital were as follows:- Ordinary Shares of 50 each A.J. Barry 2 2 M.J. Bidmead B G Elliott D.J. Farebrother A.E. Holland P.L. Letts D.C. Mathers S.L. Moore (resigned ) - - G.F.R. Starns L.G. Wallis B.B. Williams SMALL COMPANY PROVISIONS This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. APPROVAL The directors' report was approved by the Board on 7 th January 2016 and signed on its behalf by: A P DOLBEAR SECRETARY

4 Page 2 PROFIT AND LOSS ACCOUNT Notes TURNOVER 662, ,867 Direct costs, administrative and overhead expenses etc. (702,866) (684,064) OPERATING LOSS 2 ( 40,129) ( 20,197) Interest receivable LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION ( 40,099) ( 19,974) Taxation LOSS FOR THE FINANCIAL YEAR 11 ( 40,099) ( 19,974) The notes on pages 4 to 7 form part of the financial statements.

5 Page 3 BALANCE SHEET 31 st MAY 2015 FIXED ASSETS Notes Tangible assets 4 485,585 2,165 CURRENT ASSETS Stocks 5 19,740 17,147 Debtors 6 83,118 10,718 Cash at bank and in hand 126,349 52, ,207 80,375 CREDITORS: amounts falling due within one year 7 (184,751) (59,949) NET CURRENT ASSETS 44,456 20,426 TOTAL ASSETS LESS CURRENT LIABILITIES 530,041 22,591 CREDITORS: amounts falling due after more than one year 8 (540,612) ( 16,713) NET (LIABILITIES) ASSETS ( 10,571) 5,878 CAPITAL AND RESERVES Called up share capital , ,400 Profit and loss account (deficit) 11 (257,621) (217,522) SHAREHOLDERS' FUNDS (deficit) ( 10,571) 5,878 For the year ended 31 st May 2015 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; and 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 with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements were approved by the Board of Directors on 7 th January 2016 and signed on its behalf by:- D J Farebrother - Director The notes on pages 4 to 7 form part of the financial statements.

6 Page 4 NOTES TO THE FINANCIAL STATEMENTS 1. ACCOUNTING POLICIES Basis of accounting The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on the reducing balance basis at the following annual rates, in order to write off each asset over its estimated useful life: Ground improvements 2% Fixtures, fittings and equipment 15% 3G Pitch 2% to 10% The 3G Pitch was under construction at 31 st May Depreciation will be charged from completion in July Stocks Stocks are stated at the lower of cost and net realisable value. Turnover Turnover represents income (excluding Value Added Tax) from gate receipts, transfer fees, subscriptions, donations, lotteries, bar and from other club functions and activities. Hire purchase and leasing commitments Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives. The interest element of such contracts is charged to profit and loss account over the period of the contracts and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under leases are charged to income as incurred. Deferred taxation Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

7 Page 5 NOTES TO THE FINANCIAL STATEMENTS (continued) 2. OPERATING LOSS This is stated after charging: Directors' remuneration - - Depreciation of tangible fixed assets 2, ==== ==== 3. TAXATION No liability to corporation tax arises for the year. At 31 st May 2015, there were unrelieved losses of approximately 878,000 ( ,000) available for offset against future trading profits. A deferred tax asset is not provided in respect of the accumulated tax losses as there is insufficient evidence to show that those losses will be utilised. 4. TANGIBLE FIXED ASSETS Fixtures, Ground Fittings & Improvements 3G Pitch Equipment TOTAL Cost At ,383-65, ,957 Additions 113, , ,851 At , ,464 65, ,808 Depreciation At ,146-64, ,792 Charge for year 2, ,431 At ,438-64, ,223 Net book values At , , ,585 ===== ====== At , ,165 ===== ======

8 Page 6 NOTES TO THE FINANCIAL STATEMENTS (continued) 5. STOCKS Playing kits, equipment and sundries 3,800 3,800 Bar stocks 15,940 13,347 19,740 17,147 ===== ===== 6. DEBTORS VAT recoverable 63,514 - Sundry debtors 8,956 5,634 Prepayments and accrued income 10,648 5,084 83,118 10,718 ===== ===== 7. CREDITORS: amounts falling due within one year: Heineken UK loan 5,000 5,000 Trade creditors 9,028 12,462 Other taxation and social security costs 2,098 7,906 Other creditors and accruals 168,625 34, ,751 59,949 ====== ===== The Heineken UK Loan is secured by a fixed and floating charge over the assets of the company. 8. CREDITORS: amounts falling due after more than one year: Heineken UK Loan 12,612 16,713 Other Loan 528, ,612 16,713 ====== =====

9 Page 7 NOTES TO THE FINANCIAL STATEMENTS (continued) 8. CREDITORS: amounts falling due after more than one year (continued) The Heineken UK Loan is secured by a fixed and floating charge over the assets of the company. Included within creditors falling due after more than one year is an amount of 345,600 ( Nil) in respect of liabilities which fall due for payment after more than five years from the balance sheet date 9. COMMITMENTS UNDER OPERATING LEASES At 31 st May 2015 the company had aggregate annual commitments under non-cancellable operating leases as set out below. Operating leases which expire: After more than 5 years 4,792 2,708 ==== ==== 10. SHARE CAPITAL Authorised Number Class Nominal Value 8,000 Ordinary , ,000 Allotted and fully paid Number Class Nominal Value 4,941 (2014-4,468) Ordinary , ,400 During the year a further 473 ordinary shares of 50 each were issued, at par, for cash. 11. PROFIT AND LOSS ACCOUNT Balance brought forward (deficit) (217,522) (197,548) Loss for the year ( 40,099) ( 19,974) Balance carried forward (deficit) (257,621) (217,522)

10 REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sutton United Football Club Limited for the year ended 31 st May 2015 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations. This report is made solely to the Board of Directors of Sutton United Football Club Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sutton United Football Club Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 02/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sutton United Football Club Limited and its Board of Directors, as a body, for our work or for this report. It is your duty to ensure that Sutton United Football Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sutton United Football Club Limited. You consider that Sutton United Football Club Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Sutton United Football Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. Global House 1 Ashley Avenue Epsom Surrey KT18 5FL MAURICE ANDREWS 7 th January 2016 CHARTERED ACCOUNTANTS

11 DETAILED PROFIT AND LOSS ACCOUNT INCOME Gate receipts Senior team league matches 34,447 51,169 Senior team cup matches 3,700 17,236 Senior team friendly matches 11,409 25,655 Subscriptions 49,556 94,060 Vice Presidents 1,608 1,541 Season tickets 11,066 11,329 12,674 12,870 Donations Vice Presidents 2,500 3,000 Lucky striker 2,340 2,280 Sponsored goals 906 1,303 Supporters' Club 3,380 6,300 Sportsmen's dinners 8,557 6,458 Sundry 83,932 43, ,615 62,711 League & Cup sponsorship awards 27,444 40,274 Income from Abbotts FC 29,234 24,853 Income from Strikers Are Key 12,250 11,700 Match sponsorship 1,800 3,625 Miscellaneous sponsorship 61,650 91,904 Sponsors' Club 9,300 9,000 Income from catering 3,198 3,854 Footballs donated 1,950 2,350 Transfer fees received 29,250 - Surplus from bar (Stadium Club) - per account annexed 53,293 37,477 Surplus Reserve and Youth Team Matches Surplus from programme advertising and sales 847 2,672 Surplus from hire of ground and car park 15,318 15,443 Surplus from sale of lottery tickets 3,262 2,607 Sundry receipts 17,180 4,993 carried forward 430, ,393

12 DETAILED PROFIT AND LOSS ACCOUNT (continued) EXPENDITURE brought forward 430, ,393 Rent 2,707 1,677 General Rates 9,804 9,618 Water Rates 6,056 7,517 Ground requisites and maintenance 43,211 34,593 Football requisites 11,438 8,360 Medical costs etc. 11,122 14,371 Motor, travelling expenses and subsistence 61,919 65,212 Transfer and Agents fees paid 6,060 11,000 Deficit - Reserve and Youth Team Matches Officials' fees and expenses 4,532 5,495 Wages - players and managers 268, ,967 Administration salaries 1,780 - Printing, postage, stationery and photocopying 2,133 3,537 Telephone 1,894 1,521 Insurance 6,866 6,614 Subscriptions and entrance fees 1,976 2,205 Entertaining visiting officials 1,984 2,101 Accountancy Light and heat 17,023 13,535 General expenses 7,713 4,658 Bank charges and interest 929 1,480 Depreciation 2, , ,590 OPERATING LOSS FOR THE YEAR ( 40,129) ( 20,197) Interest received bank deposit LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION ( 40,099) ( 19,974) Corporation tax - - LOSS FOR THE FINANCIAL YEAR ( 40,099) ( 19,974)

13 'STADIUM CLUB' DETAILED PROFIT AND LOSS ACCOUNT BAR - TAKINGS 236, ,682 Stock in hand ,347 11,894 Purchases 93, ,639 Wages and national insurance 59,751 62, , ,363 deduct: Stock in hand ,940 13, , ,016 GROSS PROFIT 86,147 90,666 Subscriptions received Income from hire of clubhouse facilities 19,670 10,669 Income from gaming machines 3,498 2,543 EXPENDITURE 109, ,937 Light and heat 5,780 6,952 Music promoter's costs 14,950 16,400 Repairs and renewals 11,429 20,342 Burglar alarm maintenance/renewal 940 1,079 Stock-taking fees 1,510 1,650 Cleaning and laundry 16,997 15,623 Bank and credit card charges 2,303 2,031 General expenses 2,135 2,383 56,044 66,460 SURPLUS FOR THE YEAR 53,293 37,477