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Company registration number: 9777686
Soccerdays Ltd
Unaudited filleted financial statements
31 August 2023
Soccerdays Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Soccerdays Ltd
Directors and other information
Directors
Sivan Sherabayani
Stephen John
Company number 9777686
Registered office Office 19 Sansom House
Arterial Road
Laindon
Basildon, Essex
SS15 6DR
Business address Office 19 Samson House
Arterial Road
Laindon
Basildon, Essex
SS15 6DR
Accountants Hill Allen (Wickford) Ltd
Office 1, Riverside Court
24 Lower Southend Road
Wickford
Essex
SS11 8AW
Bankers HSBC Bank Ltd
33 Town Square
Basildon
Essex
SS14 1BA
Soccerdays Ltd
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 686 849
Investments 6 700 600
_______ _______
1,386 1,449
Current assets
Stocks 8,848 8,290
Debtors 7 8,618 4,803
Cash at bank and in hand 15,522 27,272
_______ _______
32,988 40,365
Creditors: amounts falling due
within one year 8 ( 15,980) ( 16,179)
_______ _______
Net current assets 17,008 24,186
_______ _______
Total assets less current liabilities 18,394 25,635
Creditors: amounts falling due
after more than one year 9 ( 18,387) ( 28,255)
_______ _______
Net assets/(liabilities) 7 ( 2,620)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 93) ( 2,720)
_______ _______
Shareholders funds/(deficit) 7 ( 2,620)
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
Stephen John Sivan Sherabayani
Director Director
Company registration number: 9777686
Soccerdays Ltd
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Office 19 Sansom House, Arterial Road, Laindon, Basildon, Essex, SS15 6DR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 September 2022 and 31 August 2023 2,009 2,009
_______ _______
Depreciation
At 1 September 2022 1,160 1,160
Charge for the year 163 163
_______ _______
At 31 August 2023 1,323 1,323
_______ _______
Carrying amount
At 31 August 2023 686 686
_______ _______
At 31 August 2022 849 849
_______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 September 2022 600 600
Additions 100 100
_______ _______
At 31 August 2023 700 700
_______ _______
Impairment
At 1 September 2022 and 31 August 2023 - -
_______ _______
Carrying amount
At 31 August 2023 700 700
_______ _______
At 31 August 2022 600 600
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 3,352 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,904 3,024
Other debtors 2,362 1,779
_______ _______
8,618 4,803
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 558 822
Social security and other taxes - 786
Other creditors 4,774 3,923
_______ _______
15,980 16,179
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 18,387 28,255
_______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2023 2022 2023 2022
£ £ £ £
Soccerdays Epping District Ltd 11,617 12,451 922 922
Soccerdays Havering Ltd 11,042 9,772 936 936
Soccerdays Redbridge Ltd 11,262 11,482 300 300
Soccerdays Snaresbrook Ltd 11,050 10,157 593 593
Soccerdays Waltham Forest Ltd 11,788 10,577 273 273
Soccerdays Romford Ltd 11,836 9,699 ( 20) ( 100)
Soccerdays Woodford Ltd 9,006 - ( 100) -
_______ _______ _______ _______
The company receives management charges from, and sells sporting equipment to subsidiary companies.
11. Controlling party
The company is controlled by the director Stephen John by reason of their shareholding.