1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,280 1,250 3,530 692 709 1,401 2,129 1,588 xbrli:pure xbrli:shares iso4217:GBP 12743313 2022-08-01 2023-07-31 12743313 2023-07-31 12743313 2022-07-31 12743313 2021-08-01 2022-07-31 12743313 2022-07-31 12743313 2021-07-31 12743313 bus:Director1 2022-08-01 2023-07-31 12743313 core:WithinOneYear 2023-07-31 12743313 core:WithinOneYear 2022-07-31 12743313 core:ShareCapital 2023-07-31 12743313 core:ShareCapital 2022-07-31 12743313 core:RetainedEarningsAccumulatedLosses 2023-07-31 12743313 core:RetainedEarningsAccumulatedLosses 2022-07-31 12743313 bus:SmallEntities 2022-08-01 2023-07-31 12743313 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12743313 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12743313 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12743313 bus:FullAccounts 2022-08-01 2023-07-31 12743313 core:ComputerEquipment 2022-08-01 2023-07-31 12743313 core:ComputerEquipment 2022-07-31 12743313 core:ComputerEquipment 2023-07-31
COMPANY REGISTRATION NUMBER: 12743313
FULL BOAR SPORTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
FULL BOAR SPORTS LTD
STATEMENT OF FINANCIAL POSITION
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,129
1,588
Current assets
Stocks
20,473
18,394
Debtors
6
1,254
Cash at bank and in hand
449
11,140
---------
---------
20,922
30,788
Creditors: amounts falling due within one year
7
86,922
59,823
---------
---------
Net current liabilities
66,000
29,035
---------
---------
Total assets less current liabilities
( 63,871)
( 27,447)
---------
---------
Net liabilities
( 63,871)
( 27,447)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 63,872)
( 27,448)
---------
---------
Shareholders deficit
( 63,871)
( 27,447)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FULL BOAR SPORTS LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 10 July 2024 , and are signed on behalf of the board by:
Mr R P Burton
Director
Company registration number: 12743313
FULL BOAR SPORTS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, BN3 2DL, East Sussex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going conern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's director and financiers.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The director believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 August 2022
2,280
Additions
1,250
-------
At 31 July 2023
3,530
-------
Depreciation
At 1 August 2022
692
Charge for the year
709
-------
At 31 July 2023
1,401
-------
Carrying amount
At 31 July 2023
2,129
-------
At 31 July 2022
1,588
-------
6. Debtors
2023
2022
£
£
Other debtors
1,254
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
35,321
30,064
Trade creditors
27,098
20,806
Social security and other taxes
15,169
Other creditors
9,334
8,953
---------
---------
86,922
59,823
---------
---------
8. Director's advances, credits and guarantees
Included within creditors falling due in less than one year are director's loans totalling £7,255 (2022: £7,353). These loans are interest free and repayable on demand.