Company registration number 07434057 (England and Wales)
Complete Sports Solutions Transport Limited
Unaudited financial statements
For the year ended 31 October 2023
Complete Sports Solutions Transport Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Complete Sports Solutions Transport Limited
Statement of financial position
As at 31 October 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
0
92
Current assets
Debtors
3
88,112
111,392
Cash at bank and in hand
-
0
272
88,112
111,664
Creditors: amounts falling due within one year
4
(23,737)
(54,593)
Net current assets
64,375
57,071
Total assets less current liabilities
64,375
57,163
Creditors: amounts falling due after more than one year
5
(48,416)
(37,222)
Net assets
15,959
19,941
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
15,958
19,940
Total equity
15,959
19,941

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Complete Sports Solutions Transport Limited
Statement of financial position (continued)
As at 31 October 2023
31 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 July 2024 and are signed on its behalf by:
Mr J Digwood
Mrs H Digwood
Director
Director
Company registration number 07434057 (England and Wales)
Complete Sports Solutions Transport Limited
Notes to the financial statements
For the year ended 31 October 2023
- 3 -
1
Accounting policies
Company information

Complete Sports Solutions Transport Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Glades, Festival Way, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Complete Sports Solutions Transport Limited
Notes to the financial statements (continued)
For the year ended 31 October 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Complete Sports Solutions Transport Limited
Notes to the financial statements (continued)
For the year ended 31 October 2023
- 5 -
2
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 November 2022
2,639
4,182
6,821
Disposals
(2,639)
(4,182)
(6,821)
At 31 October 2023
-
0
-
0
-
0
Depreciation and impairment
At 1 November 2022
2,639
4,090
6,729
Eliminated in respect of disposals
(2,639)
(4,090)
(6,729)
At 31 October 2023
-
0
-
0
-
0
Carrying amount
At 31 October 2023
-
0
-
0
-
0
At 31 October 2022
-
0
92
92
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
88,112
111,392
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
-
0
10,000
Trade creditors
5,345
5,345
Taxation and social security
4,892
25,798
Other creditors
13,500
13,450
23,737
54,593
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
48,416
37,222
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