Acorah Software Products - Accounts Production 14.5.601 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 06670176 G Hall I Hall G Hall and I Hall false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06670176 2022-08-31 06670176 2023-08-31 06670176 2022-09-01 2023-08-31 06670176 frs-core:CurrentFinancialInstruments 2023-08-31 06670176 frs-core:Non-currentFinancialInstruments 2023-08-31 06670176 frs-core:ComputerEquipment 2023-08-31 06670176 frs-core:ComputerEquipment 2022-09-01 2023-08-31 06670176 frs-core:ComputerEquipment 2022-08-31 06670176 frs-core:FurnitureFittings 2023-08-31 06670176 frs-core:FurnitureFittings 2022-09-01 2023-08-31 06670176 frs-core:FurnitureFittings 2022-08-31 06670176 frs-core:MotorVehicles 2023-08-31 06670176 frs-core:MotorVehicles 2022-09-01 2023-08-31 06670176 frs-core:MotorVehicles 2022-08-31 06670176 frs-core:PlantMachinery 2023-08-31 06670176 frs-core:PlantMachinery 2022-09-01 2023-08-31 06670176 frs-core:PlantMachinery 2022-08-31 06670176 frs-core:ShareCapital 2023-08-31 06670176 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 06670176 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06670176 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 06670176 frs-bus:SmallEntities 2022-09-01 2023-08-31 06670176 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06670176 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 06670176 1 2022-09-01 2023-08-31 06670176 frs-bus:Director1 2022-09-01 2023-08-31 06670176 frs-bus:Director2 2022-09-01 2023-08-31 06670176 frs-countries:EnglandWales 2022-09-01 2023-08-31 06670176 2021-08-31 06670176 2022-08-31 06670176 2021-09-01 2022-08-31 06670176 frs-core:CurrentFinancialInstruments 2022-08-31 06670176 frs-core:Non-currentFinancialInstruments 2022-08-31 06670176 frs-core:ShareCapital 2022-08-31 06670176 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 06670176
Sport981 Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06670176
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,556 10,080
7,556 10,080
CURRENT ASSETS
Debtors 5 26,004 17,062
Cash at bank and in hand 40,285 84,698
66,289 101,760
Creditors: Amounts Falling Due Within One Year 6 (31,634 ) (54,139 )
NET CURRENT ASSETS (LIABILITIES) 34,655 47,621
TOTAL ASSETS LESS CURRENT LIABILITIES 42,211 57,701
Creditors: Amounts Falling Due After More Than One Year 7 (23,274 ) -
NET ASSETS 18,937 57,701
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 18,837 57,601
SHAREHOLDERS' FUNDS 18,937 57,701
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
G Hall
Director
2nd April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sport981 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06670176 . The registered office is 14 Spring Lane, Lambley, Nottingham, NG4 4PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2022 4,102 39,015 450 12,699 56,266
As at 31 August 2023 4,102 39,015 450 12,699 56,266
Depreciation
As at 1 September 2022 3,734 29,369 385 12,698 46,186
Provided during the period 102 2,412 10 - 2,524
As at 31 August 2023 3,836 31,781 395 12,698 48,710
Net Book Value
As at 31 August 2023 266 7,234 55 1 7,556
As at 1 September 2022 368 9,646 65 1 10,080
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,004 11,062
Other debtors 15,000 6,000
26,004 17,062
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 53
Bank loans and overdrafts 9,932 42,500
Corporation tax 206 5,917
Other taxes and social security 246 2,419
Other creditors 21,250 3,250
31,634 54,139
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 23,274 -
23,274 -
8. Related Party Transactions
Dividends of £37,118 (2022: £33,115) were paid to the directors.
The company made management charges to Mojo Athletic Limited, a company under common control, of £15,000 (2022: £nil). Included in other debtors is £15,000 (2022: £nil) owed from Mojo Athletic Limited.
9. Controlling Party
The company is controlled by G Hall and I Hall by virtue of their ownership of the issued share capital in the company.
Page 4