SPORT FOR BEDFORD LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST AUGUST 2023 |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Office equipment | - |
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 |
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 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
5. | STOCKS |
31/8/23 | 31/8/22 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 394 | - |
Other creditors |
Owed to parent undertaking | 33,999 | 28,122 |
Accrual and deferred income |
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. |
Trading as Haines Watts |
First Floor, Woburn Court |
2 Railton Road |
Woburn Rd Ind Est |
Kempston |
Bedfordshire |
MK42 7PN |