Company No:
Contents
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 | 09948363 (England and Wales) |
ACCOUNTANT | OnTheGo Accountants Limited |
330 Holborn Gate | |
High Holborn | |
London | |
WC1V 7QH |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 5 |
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5,230 | 6,156 | |||
Current assets | ||||
Stocks | 6 |
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Debtors |
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Cash at bank and in hand |
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1,080,065 | 886,798 | |||
Creditors: amounts falling due within one year | (
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Net current assets | 1,020,667 | 838,752 | ||
Total assets less current liabilities | 1,025,897 | 844,908 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Share premium account |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Longshot Systems Ltd (registered number:
Mr Mark David Goodhead
Director |
Called-up share capital | Share premium account | Profit and loss account | Total | ||||
£ | £ | £ | £ | ||||
At 01 February 2021 |
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Profit for the financial year |
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Total comprehensive income |
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At 31 January 2022 |
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At 01 February 2022 |
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Profit for the financial year |
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Total comprehensive income |
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Issue of share capital |
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At 31 January 2023 |
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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.
Longshot Systems 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 £.
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Development costs |
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Office equipment |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2023 | 2022 | ||
£ | £ | ||
Current tax on profit | |||
UK corporation tax |
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Total current tax |
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Deferred tax | |||
Origination and reversal of timing differences | (
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Total deferred tax | (
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Total tax on profit | (
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Development costs | Total | ||
£ | £ | ||
Cost | |||
At 01 February 2022 |
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At 31 January 2023 |
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Accumulated amortisation | |||
At 01 February 2022 |
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At 31 January 2023 |
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Net book value | |||
At 31 January 2023 |
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At 31 January 2022 |
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Office equipment | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 February 2022 |
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Additions |
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At 31 January 2023 |
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Accumulated depreciation | |||||
At 01 February 2022 |
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Charge for the financial year |
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At 31 January 2023 |
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Net book value | |||||
At 31 January 2023 |
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At 31 January 2022 |
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2023 | 2022 | ||
£ | £ | ||
Work in progress |
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2023 | 2022 | ||
£ | £ | ||
At the beginning of financial year | (
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Credited to the Profit and Loss Account |
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At the end of financial year | (
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with entities in which the entity itself has a participating interest
2023 | 2022 | ||
£ | £ | ||
Amount owed to the company from Thornbury Sports Trading Services Ltd | 715,194 | 255,972 | |
Amount owed from the company to Longshot Systems Holding Ltd | (70,189) | 0 |
During the period there were sales to fellow subsidiary Thornbury Sports Trading Services Ltd to the value of £1,575,195 (2022 - £1,497,492).
Parent Company:
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199 Chiltern Court, 188 Baker Street, London, England, NW1 5SD |