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Company Registration No. 10868534 (England and Wales)
Sovereign Sports Ltd Unaudited accounts for the year ended 31 July 2023
Sovereign Sports Ltd Unaudited accounts Contents
Page
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Sovereign Sports Ltd Company Information for the year ended 31 July 2023
Directors
S Kennard I Kennard
Company Number
10868534 (England and Wales)
Registered Office
1 Christchurch House Sir Thomas Longley Road Rochester Kent ME2 4FX
Accountants
AK Tax & Accountancy Ltd Suite 1 Christchurch House Sir Thomas Longley Road Rochester Kent ME24FX
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Sovereign Sports Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
136,558 
152,184 
Current assets
Inventories
354,000 
377,000 
Debtors
528,768 
225,813 
Cash at bank and in hand
6,148 
13,328 
888,916 
616,141 
Creditors: amounts falling due within one year
(999,592)
(756,950)
Net current liabilities
(110,676)
(140,809)
Net assets
25,882 
11,375 
Capital and reserves
Called up share capital
125 
125 
Profit and loss account
25,757 
11,250 
Shareholders' funds
25,882 
11,375 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by
S Kennard Director Company Registration No. 10868534
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Sovereign Sports Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Sovereign Sports Ltd is a private company, limited by shares, registered in England and Wales, registration number 10868534. The registered office is 1 Christchurch House, Sir Thomas Longley Road, Rochester, Kent, ME2 4FX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 % on reducing balance basis
Motor vehicles
25% on reducing balance basis
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
147,289 
126,277 
374 
273,940 
Additions
3,898 
25,995 
- 
29,893 
At 31 July 2023
151,187 
152,272 
374 
303,833 
Depreciation
At 1 August 2022
81,579 
39,921 
256 
121,756 
Charge for the year
17,403 
28,087 
29 
45,519 
At 31 July 2023
98,982 
68,008 
285 
167,275 
Net book value
At 31 July 2023
52,205 
84,264 
89 
136,558 
At 31 July 2022
65,710 
86,356 
118 
152,184 
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Sovereign Sports Ltd Notes to the Accounts for the year ended 31 July 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
514,613 
212,540 
Accrued income and prepayments
7,555 
3,569 
Other debtors
6,600 
9,704 
528,768 
225,813 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
93,268 
41,733 
Obligations under finance leases and hire purchase contracts
3,024 
45,733 
Trade creditors
191,973 
227,760 
Taxes and social security
182,023 
57,993 
Other creditors
331,543 
237,792 
Loans from directors
195,695 
143,873 
Accruals
2,066 
2,066 
999,592 
756,950 
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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