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REGISTERED NUMBER: 06498586 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Rising Stars Multi-Sports Limited

Rising Stars Multi-Sports Limited (Registered number: 06498586)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Rising Stars Multi-Sports Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: N Webb
R L Webb
J Nicholson





SECRETARY: N Webb





REGISTERED OFFICE: Unit 7 Weston Barns
Hitchin Road
Weston
Hertfordshire
SG4 7AX





REGISTERED NUMBER: 06498586 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

Rising Stars Multi-Sports Limited (Registered number: 06498586)

Statement of Financial Position
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,955 6,649

CURRENT ASSETS
Debtors 6 109,023 102,089
Cash at bank 427 3,872
109,450 105,961
CREDITORS
Amounts falling due within one year 7 85,061 87,809
NET CURRENT ASSETS 24,389 18,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,344

24,801

CREDITORS
Amounts falling due after more than one
year

8

(28,390

)

(37,481

)

PROVISIONS FOR LIABILITIES - (1,263 )
NET LIABILITIES (46 ) (13,943 )

CAPITAL AND RESERVES
Allotted, called up and
fully paid share capital 100 100
Retained earnings (146 ) (14,043 )
SHAREHOLDERS' FUNDS (46 ) (13,943 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Rising Stars Multi-Sports Limited (Registered number: 06498586)

Statement of Financial Position - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:





R L Webb - Director


Rising Stars Multi-Sports Limited (Registered number: 06498586)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Rising Stars Multi-Sports Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 23 ) .

Rising Stars Multi-Sports Limited (Registered number: 06498586)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2021 37,766 76,759 114,525
Additions 2,247 - 2,247
Disposals - (16,994 ) (16,994 )
At 31 March 2022 40,013 59,765 99,778
DEPRECIATION
At 1 April 2021 36,616 71,260 107,876
Charge for year 1,255 1,812 3,067
Eliminated on disposal - (15,120 ) (15,120 )
At 31 March 2022 37,871 57,952 95,823
NET BOOK VALUE
At 31 March 2022 2,142 1,813 3,955
At 31 March 2021 1,150 5,499 6,649

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 17,476 17,328
Tax 12,458 11,542
Other debtors 16,598 4,475
Directors' current accounts 61,918 65,253
Prepayments and accrued income 573 3,491
109,023 102,089

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 20,976 8,731
Trade creditors 1,964 5,310
Amounts owed to associates 13,006 10,000
Tax 5,433 1,933
Social security and other taxes 4,590 3,965
VAT 17,135 29,831
Other creditors 19,066 24,500
Directors' current accounts 376 376
Accrued expenses 2,515 3,163
85,061 87,809

Rising Stars Multi-Sports Limited (Registered number: 06498586)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 1-2 years 8,731 8,731
Bank loans - 2-5 years 19,659 28,750
28,390 37,481

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank loans 37,121 46,212

Mr N Webb and Mr R Webb have provided a personal guarantees to the bank in respect of the bank loans.

Obligations under hire purchase contracts and finance leases are secured on the assets concerned.

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £6,582 (2021 - £15870)

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
N Webb
Balance outstanding at start of year 51,251 45,779
Amounts advanced 157 5,472
Amounts repaid (6,309 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,099 51,251

R L Webb
Balance outstanding at start of year 14,002 11,872
Amounts advanced 4,613 2,130
Amounts repaid (1,796 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,819 14,002

Interest was charged at the rate of 2.00% (2021 - 2.00%) in respect of the loans in the year.