0
30/11/2021
2021-11-30
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
No description of principal activities is disclosed
2020-12-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
07454810
2020-12-01
2021-11-30
07454810
2021-11-30
07454810
2020-11-30
07454810
2019-12-01
2020-11-30
07454810
2020-11-30
07454810
2019-11-30
07454810
bus:RegisteredOffice
2020-12-01
2021-11-30
07454810
bus:OrdinaryShareClass1
2020-12-01
2021-11-30
07454810
bus:LeadAgentIfApplicable
2020-12-01
2021-11-30
07454810
bus:Director1
2020-12-01
2021-11-30
07454810
bus:Director2
2020-12-01
2021-11-30
07454810
bus:Director3
2020-12-01
2021-11-30
07454810
bus:Director4
2020-12-01
2021-11-30
07454810
core:IntangibleAssetsOtherThanGoodwill
2021-11-30
07454810
core:ShareCapital
2019-12-01
2020-11-30
07454810
core:SharePremium
2019-12-01
2020-11-30
07454810
core:RetainedEarningsAccumulatedLosses
2019-12-01
2020-11-30
07454810
core:ShareCapital
2020-12-01
2021-11-30
07454810
core:SharePremium
2020-12-01
2021-11-30
07454810
core:RetainedEarningsAccumulatedLosses
2020-12-01
2021-11-30
07454810
core:WithinOneYear
2021-11-30
07454810
core:WithinOneYear
2020-11-30
07454810
core:ShareCapital
2021-11-30
07454810
core:ShareCapital
2020-11-30
07454810
core:SharePremium
2021-11-30
07454810
core:SharePremium
2020-11-30
07454810
core:RetainedEarningsAccumulatedLosses
2021-11-30
07454810
core:RetainedEarningsAccumulatedLosses
2020-11-30
07454810
core:ShareCapital
2019-11-30
07454810
core:SharePremium
2019-11-30
07454810
core:RetainedEarningsAccumulatedLosses
2019-11-30
07454810
bus:OrdinaryShareClass1
core:ShareCapital
2021-11-30
07454810
bus:OrdinaryShareClass1
core:ShareCapital
2020-11-30
07454810
bus:OrdinaryShareClass1
2020-11-30
07454810
bus:OrdinaryShareClass1
2021-11-30
07454810
core:IntangibleAssetsOtherThanGoodwill
2020-11-30
07454810
core:IntangibleAssetsOtherThanGoodwill
2020-11-30
07454810
core:CostValuation
core:Non-currentFinancialInstruments
2021-11-30
07454810
core:Non-currentFinancialInstruments
2021-11-30
07454810
core:Non-currentFinancialInstruments
2020-11-30
07454810
bus:Director1
2020-11-30
07454810
bus:Director1
2021-11-30
07454810
bus:Director2
2020-11-30
07454810
bus:Director3
2020-11-30
07454810
bus:Director1
2019-11-30
07454810
bus:Director1
2020-11-30
07454810
bus:Director2
2019-11-30
07454810
bus:Director2
2020-11-30
07454810
bus:Director3
2020-11-30
07454810
bus:Director1
2019-12-01
2020-11-30
07454810
bus:Director3
2019-12-01
2020-11-30
07454810
bus:SmallEntities
2020-12-01
2021-11-30
07454810
bus:AuditExemptWithAccountantsReport
2020-12-01
2021-11-30
07454810
bus:FullAccounts
2020-12-01
2021-11-30
07454810
bus:SmallCompaniesRegimeForAccounts
2020-12-01
2021-11-30
07454810
bus:PrivateLimitedCompanyLtd
2020-12-01
2021-11-30
Company registration number:
07454810
Sports Design Concepts Limited
Unaudited filleted financial statements
30 November 2021
Sports Design Concepts Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Sports Design Concepts Limited
Directors and other information
|
|
|
|
|
Directors |
Mr R Hughes |
|
|
|
Mrs J Watts |
(Resigned 20 September 2021) |
|
|
Mr T Keenan |
|
|
|
Mr R Watts |
(Resigned 20 September 2021) |
|
|
|
|
|
|
|
|
|
Company number |
07454810 |
|
|
|
|
|
|
|
|
|
|
Registered office |
60C Empress Avenue |
|
|
|
Ilford |
|
|
|
Essex |
|
|
|
IG1 3DD |
|
|
|
|
|
|
|
|
|
|
Business address |
60C Empress Avenue |
|
|
|
Ilford |
|
|
|
Essex |
|
|
|
IG1 3DD |
|
|
|
|
|
|
|
|
|
|
Accountant |
Andrew Murphy Chartered Accountants |
|
|
|
Sovereign House |
|
|
|
82 West Street |
|
|
|
Rochford |
|
|
|
Essex |
|
|
|
SS4 1AS |
|
|
|
|
|
Sports Design Concepts Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of Sports Design Concepts Limited
Year ended 30 November 2021
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Sports Design Concepts Limited for the year ended 30 November 2021 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Sports Design Concepts Limited, as a body, in accordance with the terms of my engagement letter dated 5 April 2011. My work has been undertaken solely to prepare for your approval the financial statements of Sports Design Concepts Limited and state those matters that we have agreed to state to the board of directors of Sports Design Concepts Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Sports Design Concepts Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Sports Design Concepts 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 Sports Design Concepts Limited. You consider that Sports Design Concepts Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Sports Design Concepts Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Andrew Murphy Chartered Accountants
Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
10 June 2022
Sports Design Concepts Limited
Statement of financial position
30 November 2021
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
4 |
249,284 |
|
|
|
248,999 |
|
|
Investments |
|
5 |
1 |
|
|
|
1 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
249,285 |
|
|
|
249,000 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
37,100 |
|
|
|
37,704 |
|
|
Cash at bank and in hand |
|
|
117 |
|
|
|
614 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
37,217 |
|
|
|
38,318 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
312,066) |
|
|
|
(
307,629) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
274,849) |
|
|
|
(
269,311) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
25,564) |
|
|
|
(
20,311) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
25,564) |
|
|
|
(
20,311) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
8 |
|
|
2,272 |
|
|
|
2,267 |
Share premium account |
|
|
|
|
182,095 |
|
|
|
179,101 |
Profit and loss account |
|
|
|
|
(
209,931) |
|
|
|
(
201,679) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
25,564) |
|
|
|
(
20,311) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 November 2021 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;
-
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 June 2022
, and are signed on behalf of the board by:
Mr R Hughes
Director
Company registration number:
07454810
Sports Design Concepts Limited
Statement of changes in equity
Year ended 30 November 2021
|
|
Called up share capital |
Share premium account |
|
Profit and loss account |
Total |
|
|
|
|
|
|
£ |
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 December 2019 |
|
2,263 |
177,004 |
|
(
193,505) |
(
14,238) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the year |
|
|
|
|
(
8,174) |
(
8,174) |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total comprehensive income for the year |
|
- |
- |
|
(
8,174) |
(
8,174) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
4 |
2,097 |
|
|
2,101 |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total investments by and distributions to owners |
|
4 |
2,097 |
|
- |
2,101 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
At 30 November 2020 and 1 December 2020 |
|
2,267 |
179,100
|
|
(
201,679) |
(20,312) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the year |
|
|
|
|
(
8,252) |
(
8,252) |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total comprehensive income for the year |
|
- |
- |
|
(
8,252) |
(
8,252) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
5 |
2,995 |
|
|
3,000 |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
Total investments by and distributions to owners |
|
5 |
2,995 |
|
- |
3,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
At 30 November 2021 |
|
2,272 |
182,095 |
|
(
209,931) |
(
25,564) |
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sports Design Concepts Limited
Notes to the financial statements
Year ended 30 November 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 60C Empress Avenue, 60C Empress Avenue, Ilford, Essex, IG1 3DD.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 December 2020 |
248,999 |
248,999 |
|
|
|
|
|
Additions |
285 |
285 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 November 2021 |
249,284 |
249,284 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 December 2020 and 30 November 2021 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 November 2021 |
249,284 |
249,284 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 November 2020 |
248,999 |
248,999 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
Development costs will be written off over 5 years once the product is in production.
5.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 December 2020 and 30 November 2021 |
1 |
1 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 December 2020 and 30 November 2021 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 November 2021 |
1 |
1 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 November 2020 |
1 |
1 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
Sports Design Concepts Limited
owns 100% of the shares in Armourflex Sports Limited.
6.
Debtors
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Other debtors |
|
37,100 |
37,704 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Trade creditors |
|
38,250 |
34,330 |
|
Other creditors |
|
273,816 |
273,299 |
|
|
|
_______ |
_______ |
|
|
|
312,066 |
307,629 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
0.01 each |
|
227,172 |
|
2,272 |
|
226,672 |
|
2,267 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
Share movements
|
|
|
No |
£ |
|
Ordinary : |
|
|
|
|
At 1 December 2020 |
|
226,672 |
2,267 |
|
Issue of shares |
|
500 |
5 |
|
|
|
_______ |
_______ |
|
At 30 November 2021 |
|
227,172 |
2,272 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr R Hughes |
(
211,109) |
(
3,962) |
70 |
(
215,001) |
|
|
|
Mrs J Watts |
(
42,830) |
- |
42,830 |
- |
|
|
|
Mr T Keenan |
(
3,000) |
- |
3,000 |
- |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
256,939) |
(
3,962) |
45,900 |
(
215,001) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2020 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr R Hughes |
(
206,670) |
(
4,439) |
- |
(
211,109) |
|
|
|
Mrs J Watts |
(
42,830) |
- |
- |
(
42,830) |
|
|
|
Mr T Keenan |
- |
(
3,000) |
- |
(
3,000) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
249,500) |
(
7,439) |
- |
(
256,939) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2021 |
2020 |
2021 |
2020 |
|
|
£ |
£ |
£ |
£ |
|
Focus on Kids TV Limited |
- |
- |
- |
(
13,210) |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
The company owes £56,040 to Focus on Kids TV Limited in which
Mr R Watts
and Mrs J Watts
are both directors and shareholders.
11.
Controlling party
Mr R Hughes
controls the company.
12.
Going concern
The funding of the company has been met by the continued support of Robert Hughes, who is a director and shareholder. The director has made a commitment not to seek repayment of the loan until cash flow permits.
13.
Group accounts
Sports Design Concepts Limited
(the parent company) is exempt from preparing group accounts as it is a small group.