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REGISTERED NUMBER: 08567823 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

ADVANTAGE SPORT (LICENSES) LIMITED

ADVANTAGE SPORT (LICENSES) LIMITED (REGISTERED NUMBER: 08567823)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADVANTAGE SPORT (LICENSES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: D J Drew
B J Hatton





REGISTERED OFFICE: C/O Ground Floor
23 Park Square
Leeds
LS1 2ND





REGISTERED NUMBER: 08567823 (England and Wales)





ACCOUNTANTS: Sedulo Leeds Limited
St Paul's House
23 Park Square
Leeds
West Yorkshire
LS1 2ND

ADVANTAGE SPORT (LICENSES) LIMITED (REGISTERED NUMBER: 08567823)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 116 589

CURRENT ASSETS
Stocks 31,643 67,226
Debtors 5 38,899 111,662
Cash at bank 20,522 52,317
91,064 231,205
CREDITORS
Amounts falling due within one year 6 103,205 131,065
NET CURRENT (LIABILITIES)/ASSETS (12,141 ) 100,140
TOTAL ASSETS LESS CURRENT LIABILITIES (12,025 ) 100,729

PROVISIONS FOR LIABILITIES 29 112
NET (LIABILITIES)/ASSETS (12,054 ) 100,617

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (22,054 ) 90,617
SHAREHOLDERS' FUNDS (12,054 ) 100,617

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

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

ADVANTAGE SPORT (LICENSES) LIMITED (REGISTERED NUMBER: 08567823)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2023 and were signed on its behalf by:





B J Hatton - Director


ADVANTAGE SPORT (LICENSES) LIMITED (REGISTERED NUMBER: 08567823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Advantage Sport (Licenses) 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 principal activity of the company during the year under review was that of retail sale of clothing in specialised stores.

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 £.

At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, 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.

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.
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


ADVANTAGE SPORT (LICENSES) LIMITED (REGISTERED NUMBER: 08567823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2022
and 31 December 2022 1,420
DEPRECIATION
At 1 January 2022 831
Charge for year 473
At 31 December 2022 1,304
NET BOOK VALUE
At 31 December 2022 116
At 31 December 2021 589

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 34,195 85,695
Amounts owed by group undertakings 2,499 -
Other debtors 2,205 25,967
38,899 111,662

ADVANTAGE SPORT (LICENSES) LIMITED (REGISTERED NUMBER: 08567823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 79,485 82,013
Amounts owed to group undertakings 11,668 23,148
Taxation and social security 10,353 2,075
Other creditors 1,699 23,829
103,205 131,065

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.22 31.12.21
£    £   
D J Drew
Balance outstanding at start of year (195 ) -
Amounts advanced 36,656 40,805
Amounts repaid (36,650 ) (41,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (189 ) (195 )

B J Hatton
Balance outstanding at start of year - -
Amounts advanced 7,212 -
Amounts repaid (7,212 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -