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REGISTERED NUMBER: SC037039 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Sportoys (Glasgow) Limited

Sportoys (Glasgow) Limited (Registered number: SC037039)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sportoys (Glasgow) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Dr. S G McMeekin
C E McMeekin
Mrs C M F McMeekin





SECRETARY: Mrs C M F McMeekin





REGISTERED OFFICE: 2 Stewart Street
Milngavie
Glasgow
G62 6BW





REGISTERED NUMBER: SC037039 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

Sportoys (Glasgow) Limited (Registered number: SC037039)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 538 652
Investments 5 774 1,268
Investment property 6 530,000 400,000
531,312 401,920

CURRENT ASSETS
Cash at bank 39,374 45,422

CREDITORS
Amounts falling due within one year 7 9,633 7,009
NET CURRENT ASSETS 29,741 38,413
TOTAL ASSETS LESS CURRENT
LIABILITIES

561,053

440,333

PROVISIONS FOR LIABILITIES 42,338 17,660
NET ASSETS 518,715 422,673

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Capital redemption reserve 3,000 3,000
Other reserves 15,542 15,542
Fair value reserve 480,863 375,563
Retained earnings 13,310 22,568
SHAREHOLDERS' FUNDS 518,715 422,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Sportoys (Glasgow) Limited (Registered number: SC037039)

Balance Sheet - continued
31 January 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by:





Dr. S G McMeekin - Director


Sportoys (Glasgow) Limited (Registered number: SC037039)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Sportoys (Glasgow) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The company's turnover is derived wholly from its principal activity of property letting. All rent is recognised when receivable.

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 - 10% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
All financial assets and liabilities of the company are basic financial instruments, and are recognised initially at transaction value and subsequently at settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Fixed asset investments
Investments in shares are recognised at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Sportoys (Glasgow) Limited (Registered number: SC037039)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 February 2022
and 31 January 2023 5,923 2,239 1,574 9,736
DEPRECIATION
At 1 February 2022 5,483 2,239 1,362 9,084
Charge for year 44 - 70 114
At 31 January 2023 5,527 2,239 1,432 9,198
NET BOOK VALUE
At 31 January 2023 396 - 142 538
At 31 January 2022 440 - 212 652

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2022 1,268
Impairments (494 )
At 31 January 2023 774
NET BOOK VALUE
At 31 January 2023 774
At 31 January 2022 1,268

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 400,000
Revaluations 130,000
At 31 January 2023 530,000
NET BOOK VALUE
At 31 January 2023 530,000
At 31 January 2022 400,000

Sportoys (Glasgow) Limited (Registered number: SC037039)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2023 130,000
Valuation in 2018 (90,000 )
Valuation in 2016 90,000
Valuation in 2015 5,000
Valuation in 2003 145,000
Valuation in 2002 225,570
Cost 24,430
530,000

If investment property had not been revalued it would have been included at the following historical cost:

31.1.23 31.1.22
£    £   
Cost 24,430 24,430

Investment property was valued on an open market value basis on 4 May 2023 by DM Hall, Chartered Surveyors .

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Taxation and social security 7,102 5,043
Other creditors 2,531 1,966
9,633 7,009