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5.
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Sheffield Wednesday
Football Club plc
2.
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Notes on Accounts
Year ended 31st May, 1985
Accounting poficies
(a} Transfer fees paid or received ~e written off to revenue account in the year in which the tTansfer is
completed.
(b) Donations from the development funds are credited to revenue account P-s and when recehra~le.
(c) Leasehold properties, f~’tures, fittings and motor vehicles are being written off over t~eir estimated useru!
life at rates varying from 7.5% tO 25%. No depreciation is being written off the freehold stadium. The
rates of depreciation have been increased to reflect a reduction in the anticipated useful l’wes of the
assets purchased in recent years.
(d} Repairs ~md ground maintenance costs a~e charged against income ~s they are incurred.
(e) Stocks on hand, being the stocks held by the Owls Shop, are v~ued at the lower of COSt and net
re~lisable value on a flint in first out basis. Provision is made where necessary for obsolescent, slow
moving and defect~e stock_
¯ (0 Grants
"The. sports council grant on Middlewood Road training ground is being credited to revenue account over
the =~u’ne period as depreciation is provided on the a.5~eL
Grants towards c~pital expenditure received from the Football Ground Improvement Trust axe c~ed~ted to
the P..ppropdate asset accounts.
(g} A finance leased asset is financed by a lea..~e agreement which confers rights approximating to
ownership. This asset is trezted as if it had been purchased outrighL The corresponding lease
commitment is shown as en obligation under a finance ]ease.
The depreciation on the asset is charged to the revenue account following the company’s normal rates.
Lease payments are treated as consisting of capital and Tnterest elements. The Lqte,oest is charged to the
revenue account.
Turnover
=-’he total turnover for the ye~. being aH relative to the sole ~cthrity of the comparnl {n the U.K_ exclusive
of VAT, amounted to ~,015,727 (1984 £’1.853.370).
3. Miscellaneous Income
Renz and hire of facilities
Publicity
Commercial activities
Transfer from spoors council grant (See Note 175
4. S~ff Costs
Wages and salaries
Social security costs
Other pension costs
Average number employed in the year
Number of employees whose emolments fell
whhin the following range.s:-
£30,001 - £35,OO0
£35,001. £40,00O
Income from Fixed Asset Investments
Interest on deb(mture fund listed investments
Bank interest
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