SPORTIVATER LIMITED

Company Registration Number:
08665470 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 01 September 2022

End date: 31 August 2023

SPORTIVATER LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Notes

SPORTIVATER LIMITED

Balance sheet

As at 31 August 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 5,333 35,044
Tangible assets: 4 15,981 7,982
Total fixed assets: 21,314 43,026
Current assets
Debtors:   660,393 358,130
Cash at bank and in hand: 457,893 762,536
Total current assets: 1,118,286 1,120,666
Creditors: amounts falling due within one year:   (761,099) (721,096)
Net current assets (liabilities): 357,187 399,570
Total assets less current liabilities: 378,501 442,596
Creditors: amounts falling due after more than one year:   (73,333) (113,333)
Provision for liabilities: (2,100) (1,500)
Total net assets (liabilities): 303,068 327,763
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 302,968 327,663
Shareholders funds: 303,068 327,763

The notes form part of these financial statements

SPORTIVATER LIMITED

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 01 November 2023
and signed on behalf of the board by:

Name: M D Ledzion
Status: Director

The notes form part of these financial statements

SPORTIVATER LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is derived from the principle activity of providing Sporting activity for schools.Turnover represents net invoiced sales of sporting activities, excluding value added tax.In line with Financial Reporting Standard 102, Revenue Recognition income has been recognised when the company obtains the right to consideration in exchange for it's performance.

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Intangible fixed assets and amortisation policy

GoodwillGoodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.Intangible assetsIntangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.Computer software is being amortised evenly over its estimated useful life of three years.

Other accounting policies

Hire purchase and leasing commitmentsRentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.Pension costs and other post-retirement benefitsThe company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.Going concernThe director has considered the financial position of the company and believes it is well placed to manage its business risks successfully, therefore the director is satisfied to continue to adopt the going concern basis of preparation for the financial statements.

SPORTIVATER LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

2. Employees

2023 2022
Average number of employees during the period 12 10

SPORTIVATER LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Intangible Assets

Total
Cost £
At 01 September 2022 321,068
Additions 6,000
At 31 August 2023 327,068
Amortisation
At 01 September 2022 286,024
Charge for year 35,711
At 31 August 2023 321,735
Net book value
At 31 August 2023 5,333
At 31 August 2022 35,044

SPORTIVATER LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Tangible Assets

Total
Cost £
At 01 September 2022 23,868
Additions 10,949
Disposals (7,283)
At 31 August 2023 27,534
Depreciation
At 01 September 2022 15,886
Charge for year 2,950
On disposals (7,283)
At 31 August 2023 11,553
Net book value
At 31 August 2023 15,981
At 31 August 2022 7,982

SPORTIVATER LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Loans to directors

Name of director receiving advance or credit: M D Ledzion
Description of the loan: Loan
£
Balance at 01 September 2022 0
Advances or credits made: 385,871
Balance at 31 August 2023 385,871

Interest of £2,061 has been charged, to 31 August 2023, on the loan to the director.

SPORTIVATER LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

6. Related party transactions

The controlling party is M D Ledzion.