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SPEED IN SPORT LTD

Registered Number
12243881
(England and Wales)

Unaudited Financial Statements for the Period ended
30 October 2022

SPEED IN SPORT LTD
Company Information
for the period from 1 November 2021 to 30 October 2022

Director

LOGAN, Hugh Patrick

Registered Address

5c Oldknows Factory C/O Passive Tax
St. Anns Hill Road
Nottingham
NG3 4GN

Registered Number

12243881 (England and Wales)
SPEED IN SPORT LTD
Balance Sheet as at
30 October 2022

Notes

2022

2021

£

£

£

£

Current assets
Stocks6521,498
Debtors3,2361,022
Cash at bank and on hand1,1201,017
5,0083,537
Creditors amounts falling due within one year(14,607)(9,876)
Net current assets (liabilities)(9,599)(6,339)
Total assets less current liabilities(9,599)(6,339)
Net assets(9,599)(6,339)
Capital and reserves
Called up share capital11
Profit and loss account(9,600)(6,340)
Shareholders' funds(9,599)(6,339)
The financial statements were approved and authorised for issue by the Director on 19 October 2023, and are signed on its behalf by:
LOGAN, Hugh Patrick
Director
Registered Company No. 12243881
SPEED IN SPORT LTD
Notes to the Financial Statements
for the period ended 30 October 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20222021
Average number of employees during the year00