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
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
Sovereign Sports Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
136,558
152,184
Inventories
354,000
377,000
Cash at bank and in hand
6,148
13,328
Creditors: amounts falling due within one year
(999,592)
(756,950)
Net current liabilities
(110,676)
(140,809)
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
Sovereign Sports Ltd
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
At 31 July 2023
52,205
84,264
89
136,558
At 31 July 2022
65,710
86,356
118
152,184
Sovereign Sports Ltd
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
Trade debtors
514,613
212,540
Accrued income and prepayments
7,555
3,569
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
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).