Silverfin false 31/01/2023 01/02/2022 31/01/2023 Mr. Mark David Goodhead 21/02/2020 Mr. David Cooper Prime 21/02/2020 23 October 2023 The principal activity of the company during the years was B2B Software Development. 12477367 2023-01-31 12477367 bus:Director1 2023-01-31 12477367 bus:Director2 2023-01-31 12477367 2022-01-31 12477367 core:CurrentFinancialInstruments 2023-01-31 12477367 core:CurrentFinancialInstruments 2022-01-31 12477367 core:ShareCapital 2023-01-31 12477367 core:ShareCapital 2022-01-31 12477367 core:RetainedEarningsAccumulatedLosses 2023-01-31 12477367 core:RetainedEarningsAccumulatedLosses 2022-01-31 12477367 core:ShareCapital 2021-01-31 12477367 core:RetainedEarningsAccumulatedLosses 2021-01-31 12477367 2021-01-31 12477367 core:OtherResidualIntangibleAssets 2022-01-31 12477367 core:OtherResidualIntangibleAssets 2023-01-31 12477367 bus:OrdinaryShareClass1 2023-01-31 12477367 2022-02-01 2023-01-31 12477367 bus:AbridgedAccounts 2022-02-01 2023-01-31 12477367 bus:SmallEntities 2022-02-01 2023-01-31 12477367 bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 12477367 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12477367 bus:Director1 2022-02-01 2023-01-31 12477367 bus:Director2 2022-02-01 2023-01-31 12477367 core:ShareCapital 2021-02-01 2022-01-31 12477367 core:RetainedEarningsAccumulatedLosses 2021-02-01 2022-01-31 12477367 2021-02-01 2022-01-31 12477367 core:ShareCapital 2022-02-01 2023-01-31 12477367 core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 12477367 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-02-01 2023-01-31 12477367 1 2022-02-01 2023-01-31 12477367 1 2021-02-01 2022-01-31 12477367 core:OtherResidualIntangibleAssets 2022-02-01 2023-01-31 12477367 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 12477367 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12477367 (England and Wales)

THORNBURY SPORTS TRADING SERVICES LTD

Abridged Unaudited Financial Statements
For the financial year ended 31 January 2023

THORNBURY SPORTS TRADING SERVICES LTD

Abridged Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

THORNBURY SPORTS TRADING SERVICES LTD

COMPANY INFORMATION

For the financial year ended 31 January 2023
THORNBURY SPORTS TRADING SERVICES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2023
DIRECTORS Mr. Mark David Goodhead
Mr. David Cooper Prime
REGISTERED OFFICE 199 Chiltern Court
188 Baker Street
London
NW1 5SD
England
United Kingdom
COMPANY NUMBER 12477367 (England and Wales)
ACCOUNTANT OnTheGo Accountants Limited
330 Holborn Gate
High Holborn
London
WC1V 7QH
THORNBURY SPORTS TRADING SERVICES LTD

BALANCE SHEET

As at 31 January 2023
THORNBURY SPORTS TRADING SERVICES LTD

BALANCE SHEET (continued)

As at 31 January 2023
Note 31.01.2023 31.01.2022
£ £
Fixed assets
Intangible assets 4 127,200 212,000
127,200 212,000
Current assets
Debtors 3,850 630,505
Cash at bank and in hand 8,807 0
12,657 630,505
Creditors: amounts falling due within one year ( 3,675,686) ( 2,606,466)
Net current liabilities (3,663,029) (1,975,961)
Total assets less current liabilities (3,535,829) (1,763,961)
Net liabilities ( 3,535,829) ( 1,763,961)
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account ( 3,535,830 ) ( 1,763,962 )
Total shareholder's deficit ( 3,535,829) ( 1,763,961)

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 financial statements of Thornbury Sports Trading Services Ltd (registered number: 12477367) were approved and authorised for issue by the Board of Directors on 23 October 2023. They were signed on its behalf by:

Mr. Mark David Goodhead
Director
THORNBURY SPORTS TRADING SERVICES LTD

STATEMENT OF CHANGES IN EQUITY

For the financial year ended 31 January 2023
THORNBURY SPORTS TRADING SERVICES LTD

STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 31 January 2023
Called-up share capital Profit and loss account Total
£ £ £
At 01 February 2021 1 ( 1,052,293) ( 1,052,292)
Loss for the financial year 0 ( 711,669) ( 711,669)
Total comprehensive loss 0 ( 711,669) ( 711,669)
At 31 January 2022 1 ( 1,763,962) ( 1,763,961)
At 01 February 2022 1 ( 1,763,962) ( 1,763,961)
Loss for the financial year 0 ( 1,771,868) ( 1,771,868)
Total comprehensive loss 0 ( 1,771,868) ( 1,771,868)
At 31 January 2023 1 ( 3,535,830) ( 3,535,829)
THORNBURY SPORTS TRADING SERVICES LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
THORNBURY SPORTS TRADING SERVICES LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Thornbury Sports Trading Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 199 Chiltern Court, 188 Baker Street, London, NW1 5SD, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

In the prior year, the company did not amortise its intangible assets. Upon review, the director has determined that these assets have a useful life of 5 years. The company has adjusted for the missed amortisation from the prior year and has commenced amortisation over the remaining life of the assets. The total amortisation expense recognised in the current year includes both the adjustment for the prior year and the amortisation for the current year.

Other intangible assets 5 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

31.01.2023 31.01.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tax on loss

31.01.2023 31.01.2022
£ £
Current tax on loss
UK corporation tax 0 ( 266,471)
0 0
Total current tax 0 ( 266,471)
Total tax on loss 0 ( 266,471)

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 February 2022 212,000 212,000
At 31 January 2023 212,000 212,000
Accumulated amortisation
At 01 February 2022 0 0
Charge for the financial year 84,800 84,800
At 31 January 2023 84,800 84,800
Net book value
At 31 January 2023 127,200 127,200
At 31 January 2022 212,000 212,000

5. Called-up share capital

31.01.2023 31.01.2022
£ £
Allotted, called-up and fully-paid
1 Ordinary Shares share of £ 1.00 1 1

6. Related party transactions

Transactions with entities in which the entity itself has a participating interest

31.01.2023 31.01.2022
£ £
Amount owed from the company to Longshot Systems Ltd (715,194) (255,972)

During the period there were consultancy services provided to the company by fellow subsidiary Longshot Systems Ltd of £1,575,195 (2022 - £1,497,492).

Transactions with the entity's directors

31.01.2023 31.01.2022
£ £
Amount owed from the company to the directors (2,960,493) (2,350,494)

7. Ultimate controlling party

Parent Company:

Longshot Systems Holdings Limited
199 Chiltern Court, 188 Baker Street, London, England, NW1 5SD