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Registration number: 13151225

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

(Registration number: 13151225)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,085

358

Current assets

 

Debtors

5

100

100

Cash at bank and in hand

 

12,966

5,085

 

13,066

5,185

Creditors: Amounts falling due within one year

6

(5,869)

(3,852)

Net current assets

 

7,197

1,333

Total assets less current liabilities

 

8,282

1,691

Provisions for liabilities

(206)

-

Net assets

 

8,076

1,691

Capital and reserves

 

Called up share capital

100

100

Retained earnings

7,976

1,591

Shareholders' funds

 

8,076

1,691

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

 

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

(Registration number: 13151225)
Balance Sheet as at 31 January 2023

.........................................
Mr Kieran Shaun Turner
Director

.........................................
Mr Mathew Botten
Director

 

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Herts
SG4 0TW

These financial statements were authorised for issue by the Board on 29 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

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

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing Balance

 

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 2).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

477

477

Additions

1,089

1,089

At 31 January 2023

1,566

1,566

Depreciation

At 1 February 2022

119

119

Charge for the year

362

362

At 31 January 2023

481

481

Carrying amount

At 31 January 2023

1,085

1,085

At 31 January 2022

358

358

5

Debtors

Current

2023
£

2022
£

Other debtors

100

100

 

M1 Goalkeeping Ltd

trading as M1 Goalkeeping

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,309

255

Accruals and deferred income

720

1,060

Other creditors

3,840

2,537

5,869

3,852

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Share Capital of £1 each

100

100

100

100

         

8

Parent and ultimate parent undertaking

The ultimate controlling party is Mathew Botten and Kieran Turner as Directors and ultimate Shareholders, acting in concert.