Registered number
06587398
LSR Sports Limited
Filleted Accounts
30 June 2023
LSR Sports Limited
Registered number: 06587398
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets - 66,426
Tangible assets 3 3
3 66,429
Current assets
Debtors 3 195,373 203,007
Cash at bank and in hand 23,569 13,789
218,942 216,796
Creditors: amounts falling due within one year 4 (152,796) (200,156)
Net current assets 66,146 16,640
Total assets less current liabilities 66,149 83,069
Creditors: amounts falling due after more than one year 5 (18,132) (31,506)
Net assets 48,017 51,563
Capital and reserves
Called up share capital 29,000 29,000
Profit and loss account 19,017 22,563
Shareholders' funds 48,017 51,563
Average number of employees 4 4
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L.S.Rogers
Director
Approved by the board on 26 February 2024
LSR Sports Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment over 4 years
Fixtures, fittings, tools and equipment over 4 years
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Debtors 2023 2022
£ £
Trade debtors 163,603 146,768
VAT recoverable 144 3,811
Other debtors 31,626 52,428
195,373 203,007
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 12,000 12,000
Trade creditors 22,460 87,509
Loan accounts 104,434 94,509
Taxation and social security costs (343) 6,138
152,796 200,156
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,132 31,506
6 Other information
LSR Sports Limited is a private company limited by shares and incorporated in England. Its registered office is:
167-169 Great Portland Street
5th Floor
London
W1W 5PF
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