IRIS Accounts Production v23.2.0.158 07526155 director 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure075261552022-02-28075261552023-02-28075261552022-03-012023-02-28075261552021-02-28075261552021-03-012022-02-28075261552022-02-2807526155ns16:EnglandWales2022-03-012023-02-2807526155ns15:PoundSterling2022-03-012023-02-2807526155ns11:Director12022-03-012023-02-2807526155ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2807526155ns11:SmallEntities2022-03-012023-02-2807526155ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2807526155ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2807526155ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2807526155ns11:FullAccounts2022-03-012023-02-2807526155ns11:Director22022-03-012023-02-2807526155ns11:CompanySecretary12022-03-012023-02-2807526155ns11:RegisteredOffice2022-03-012023-02-2807526155ns6:CurrentFinancialInstruments2023-02-2807526155ns6:CurrentFinancialInstruments2022-02-2807526155ns6:ShareCapital2023-02-2807526155ns6:ShareCapital2022-02-2807526155ns6:RetainedEarningsAccumulatedLosses2023-02-2807526155ns6:RetainedEarningsAccumulatedLosses2022-02-2807526155ns6:FurnitureFittings2022-03-012023-02-2807526155ns6:ComputerEquipment2022-03-012023-02-2807526155ns6:FurnitureFittings2022-02-2807526155ns6:ComputerEquipment2022-02-2807526155ns6:FurnitureFittings2023-02-2807526155ns6:ComputerEquipment2023-02-2807526155ns6:FurnitureFittings2022-02-2807526155ns6:ComputerEquipment2022-02-2807526155ns6:CurrentFinancialInstruments2022-03-012023-02-28
REGISTERED NUMBER: 07526155 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

NUTMEG SPORTS MANAGEMENT LTD

NUTMEG SPORTS MANAGEMENT LTD (REGISTERED NUMBER: 07526155)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NUTMEG SPORTS MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr J Warnock





SECRETARY: Mrs S Warnock





REGISTERED OFFICE: 62-66 Deansgate
Manchester
M3 2EN





REGISTERED NUMBER: 07526155 (England and Wales)





ACCOUNTANTS: Sedulo Accountants Limited
Chartered Certified Accountants
62-66 Deansgate
Manchester
M3 2EN

NUTMEG SPORTS MANAGEMENT LTD (REGISTERED NUMBER: 07526155)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,819 1,888

CURRENT ASSETS
Cash at bank 218,382 222,694

CREDITORS
Amounts falling due within one year 5 45,851 57,601
NET CURRENT ASSETS 172,531 165,093
TOTAL ASSETS LESS CURRENT LIABILITIES 174,350 166,981

PROVISIONS FOR LIABILITIES 455 358
NET ASSETS 173,895 166,623

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 173,695 166,423
SHAREHOLDERS' FUNDS 173,895 166,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NUTMEG SPORTS MANAGEMENT LTD (REGISTERED NUMBER: 07526155)

BALANCE SHEET - continued
28 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





Mr J A N Warnock - Director


NUTMEG SPORTS MANAGEMENT LTD (REGISTERED NUMBER: 07526155)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Nutmeg Sports Management Ltd 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

NUTMEG SPORTS MANAGEMENT LTD (REGISTERED NUMBER: 07526155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


NUTMEG SPORTS MANAGEMENT LTD (REGISTERED NUMBER: 07526155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 2,701 2,130 4,831
Additions - 590 590
At 28 February 2023 2,701 2,720 5,421
DEPRECIATION
At 1 March 2022 1,440 1,503 2,943
Charge for year 252 407 659
At 28 February 2023 1,692 1,910 3,602
NET BOOK VALUE
At 28 February 2023 1,009 810 1,819
At 28 February 2022 1,261 627 1,888

NUTMEG SPORTS MANAGEMENT LTD (REGISTERED NUMBER: 07526155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 42,988 55,600
Other creditors 2,863 2,001
45,851 57,601

Included in other creditors is an amount owing to the directors of £476 (2022: £762) and is repayable on demand.