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COMPANY REGISTRATION NUMBER: 11998679
GUSTO SPORTS MANAGEMENT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2023
GUSTO SPORTS MANAGEMENT LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
Contents
Pages
Officers and professional advisers 1
Balance sheet 2
Notes to the financial statements 3 to 4
GUSTO SPORTS MANAGEMENT LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
P A Storer
Registered office
7 Spring Gardens
Upperthong
Holmfirth
HD9 3RT
Accountants
Wheawill & Sudworth Limited
Chartered Accountants
35 Westgate
Huddersfield
HD1 1PA
Bankers
Santander UK plc
Bridle Road
Bootle
Merseyside
L30 4GB
GUSTO SPORTS MANAGEMENT LIMITED
BALANCE SHEET
31 May 2023
2023
2022
Note
£
£
Current assets
Debtors
4
250
250
Cash at bank and in hand
10,361
3,436
------------
------------
10,611
3,686
Creditors: amounts falling due within one year
5
( 12,673)
( 9,907)
------------
------------
Net current liabilities
( 2,062)
( 6,221)
------------
------------
Total assets less current liabilities
( 2,062)
( 6,221)
------------
------------
Net liabilities
( 2,062)
( 6,221)
------------
------------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
( 2,162)
( 6,321)
------------
------------
Shareholders deficit
( 2,062)
( 6,221)
------------
------------
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 profit and loss account has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 February 2024 , and are signed on behalf of the board by:
P A Storer Director
Company registration number: 11998679
GUSTO SPORTS MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Spring Gardens, Upperthong, Holmfirth, HD9 3RT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2023
2022
£
£
Prepayments and accrued income
250
250
------------
------------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
600
600
Director's loan account
12,073
9,307
------------
------------
12,673
9,907
------------
------------
6. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
7. Related party transactions
The director's loan account of £12,073 (2022: £9,307) set out above is unsecured, repayable on demand and currently interest free. Control of the company The company is controlled by the director.
8. Going concern
The director is providing ongoing working capital for the company. Consequently, the accounts have been prepared on a going concern basis.