IRIS Accounts Production v23.2.0.158 SC447176 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4471762022-03-31SC4471762023-03-31SC4471762022-04-012023-03-31SC4471762021-03-31SC4471762021-04-012022-03-31SC4471762022-03-31SC447176ns10:Originalns15:Scotland2022-04-012023-03-31SC447176ns14:PoundSterlingns10:Original2022-04-012023-03-31SC447176ns10:Originalns10:Director12022-04-012023-03-31SC447176ns10:Original2022-04-012023-03-31SC447176ns10:Originalns10:Director22022-04-012023-03-31SC447176ns10:Original2023-03-31SC447176ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-31SC447176ns10:Originalns10:SmallEntities2022-04-012023-03-31SC447176ns10:Originalns10:AuditExemptWithAccountantsReport2022-04-012023-03-31SC447176ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC447176ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31SC447176ns10:Originalns10:FullAccounts2022-04-012023-03-31SC447176ns10:Original2021-04-012022-03-31SC447176ns10:Originalns10:RegisteredOffice2022-04-012023-03-31SC447176ns10:Original2022-03-31SC447176ns10:Originalns5:CurrentFinancialInstruments2023-03-31SC447176ns10:Originalns5:CurrentFinancialInstruments2022-03-31SC447176ns10:Originalns5:Non-currentFinancialInstruments2023-03-31SC447176ns10:Originalns5:Non-currentFinancialInstruments2022-03-31SC447176ns5:ShareCapitalns10:Original2023-03-31SC447176ns5:ShareCapitalns10:Original2022-03-31SC447176ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-31SC447176ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-31SC447176ns10:Originalns5:PlantMachinery2022-04-012023-03-31SC447176ns10:Originalns5:PlantMachinery2022-03-31SC447176ns10:Originalns5:FurnitureFittings2022-03-31SC447176ns10:Original2022-03-31SC447176ns10:Originalns5:FurnitureFittings2022-04-012023-03-31SC447176ns10:Originalns5:PlantMachinery2023-03-31SC447176ns10:Originalns5:FurnitureFittings2023-03-31SC447176ns10:Originalns5:PlantMachinery2022-03-31SC447176ns10:Originalns5:FurnitureFittings2022-03-31SC447176ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC447176ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31















SPORTIF LIFESTYLE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






SPORTIF LIFESTYLE LTD (REGISTERED NUMBER: SC447176)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SPORTIF LIFESTYLE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: P A Gardiner
Mrs P Gardiner





REGISTERED OFFICE: 140 Galashiels Road
Stow
Galashiels
TD1 2RA





REGISTERED NUMBER: SC447176 (Scotland)





ACCOUNTANTS: JRW
Chartered Accountants
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT

SPORTIF LIFESTYLE LTD (REGISTERED NUMBER: SC447176)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,211 1,652

CURRENT ASSETS
Debtors 5 3,296 4,737
Cash at bank 4,078 7,422
7,374 12,159
CREDITORS
Amounts falling due within one year 6 5,624 6,214
NET CURRENT ASSETS 1,750 5,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,961

7,597

CREDITORS
Amounts falling due after more than one
year

7

6,956

9,919
NET LIABILITIES (3,995 ) (2,322 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,095 ) (2,422 )
SHAREHOLDERS' FUNDS (3,995 ) (2,322 )

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

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

SPORTIF LIFESTYLE LTD (REGISTERED NUMBER: SC447176)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 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 Board of Directors and authorised for issue on 28th September 2023 and were signed on its behalf by:




Mrs P Gardiner - Director



P A Gardiner - Director


SPORTIF LIFESTYLE LTD (REGISTERED NUMBER: SC447176)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Sportif Lifestyle Ltd 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.

The directors have considered the potential impact of ongoing worldwide events on the business and are satisfied that the Company has sufficient cash reserves to meet all financial obligations for the foreseeable future. The Accounts have therefore been prepared on the going concern basis.

Turnover
The turnover in the profit and loss account represents amounts receivable for goods and services during the year, exclusive of Value Added Tax.

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 - 20% on cost

Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income and Expenditure Account.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities is payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are decolonised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the statement of financial position date.

SPORTIF LIFESTYLE LTD (REGISTERED NUMBER: SC447176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 5,007 4,955 9,962
DEPRECIATION
At 1st April 2022 4,966 3,344 8,310
Charge for year 38 403 441
At 31st March 2023 5,004 3,747 8,751
NET BOOK VALUE
At 31st March 2023 3 1,208 1,211
At 31st March 2022 41 1,611 1,652

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,296 4,737

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,195 3,195
Trade creditors 984 1,466
Taxation and social security - 88
Other creditors 1,445 1,465
5,624 6,214

SPORTIF LIFESTYLE LTD (REGISTERED NUMBER: SC447176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 6,956 9,919

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end Preeti Gardiner (Director) is due £1,275 to the company (2022 £2,500 to the company) and Peter Gardiner (Director) is due £2,020 to the company (2022 £2,238 to the company).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPORTIF LIFESTYLE LTD (REGISTERED NUMBER: SC447176)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sportif Lifestyle Ltd for the year ended 31st March 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Sportif Lifestyle Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sportif Lifestyle Ltd and state those matters that we have agreed to state to the Board of Directors of Sportif Lifestyle Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sportif Lifestyle Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sportif Lifestyle Ltd. You consider that Sportif Lifestyle Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sportif Lifestyle Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JRW
Chartered Accountants
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT


28th September 2023