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SPORT FOR BEDFORD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST AUGUST 2023






SPORT FOR BEDFORD LIMITED (REGISTERED NUMBER: 02816600)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

SPORT FOR BEDFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: M B McNulty
A Brookes
D Farooqui
M Riley





SECRETARY: A Brookes





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road,
Woburn Road Industrial Estate, Kempston
Bedford
MK42 7PN





REGISTERED NUMBER: 02816600 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

SPORT FOR BEDFORD LIMITED (REGISTERED NUMBER: 02816600)

BALANCE SHEET
31ST AUGUST 2023

31/8/23 31/8/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 185 269

CURRENT ASSETS
Stocks 5 1,494 1,401
Debtors 6 795 885
Cash at bank and in hand 76,572 62,707
78,861 64,993
CREDITORS
Amounts falling due within one year 7 38,830 30,426
NET CURRENT ASSETS 40,031 34,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,216

34,836

CREDITORS
Amounts falling due after more than one
year

8

40,000

40,000
NET ASSETS/(LIABILITIES) 216 (5,164 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 214 (5,166 )
SHAREHOLDERS' FUNDS 216 (5,164 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPORT FOR BEDFORD LIMITED (REGISTERED NUMBER: 02816600)

BALANCE SHEET - continued
31ST AUGUST 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th April 2024 and were signed on its behalf by:





M Riley - Director


SPORT FOR BEDFORD LIMITED (REGISTERED NUMBER: 02816600)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Sport For Bedford Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company relies on the continued support of the parent company and directors.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents hire of hockey pitches and sales of goods, excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Hire purchase and leasing commitments
Rentals 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 benefits
The 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 concern
The accounts have been prepared on the going concern basis as the company have the continuing support of the parent company Bedford Sports Foundation and its trustees have stated their intention to continue to support the working capital requirements of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

SPORT FOR BEDFORD LIMITED (REGISTERED NUMBER: 02816600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1st September 2022
and 31st August 2023 15,105 833 15,938
DEPRECIATION
At 1st September 2022 14,941 728 15,669
Charge for year 52 32 84
At 31st August 2023 14,993 760 15,753
NET BOOK VALUE
At 31st August 2023 112 73 185
At 31st August 2022 164 105 269

5. STOCKS
31/8/23 31/8/22
£    £   
Stocks 1,494 1,401

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Trade debtors 330 -
VAT - 885
Prepayments and accrued income 465 -
795 885

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Trade creditors 1,505 140
Corporation tax 405 -
Social security and other taxes 754 640
VAT 394 -
Other creditors 473 264
Owed to parent undertaking 33,999 28,122
Accrual and deferred income 1,300 1,260
38,830 30,426

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/23 31/8/22
£    £   
Loan from parent undertaking 40,000 40,000

SPORT FOR BEDFORD LIMITED (REGISTERED NUMBER: 02816600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The above represents a long term investment loan from the parent charity, Bedford Sports Foundation Limited. This loan carries annual interest of 5%, and is repayable in full on 31st December 2032.

9. DISCLOSURE OF CONTROL

The company was controlled by the trustees of Bedford Sports Foundation.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPORT FOR BEDFORD LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sport For Bedford Limited for the year ended 31st August 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sport For Bedford Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sport For Bedford Limited and state those matters that we have agreed to state to the Board of Directors of Sport For Bedford Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sport For Bedford Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sport For Bedford Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sport For Bedford Limited. You consider that Sport For Bedford Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sport For Bedford Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


8th April 2024