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Registered number: 07216492
FOOTBALL AND CRICKET STORE LIMITED
Unaudited Financial Statements
For The Year Ended 30 November 2023
Esteem Financial Solutions Ltd
Unit 5
111 The Greenway
Colindale
London
NW9 5AR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07216492
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 8,534 8,534
Debtors 5 8,067 8,067
Cash at bank and in hand 1,567 2,938
18,168 19,539
Creditors: Amounts Falling Due Within One Year 6 (187 ) (1,026 )
NET CURRENT ASSETS (LIABILITIES) 17,981 18,513
TOTAL ASSETS LESS CURRENT LIABILITIES 17,981 18,513
Creditors: Amounts Falling Due After More Than One Year 7 (11,250 ) (15,751 )
NET ASSETS 6,731 2,762
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 6,729 2,760
SHAREHOLDERS' FUNDS 6,731 2,762
Page 1
Page 2
For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Duncan Sharpe
Director
05/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
FOOTBALL AND CRICKET STORE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07216492 . The registered office is 212 Maybank Road, Woodford, London, E18 1ET.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Sales, marketing and distribution 1 1
1 1
4. Stocks
2023 2022
£ £
Finished goods 8,534 8,534
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 8,067 8,067
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1,170 ) -
Accruals and deferred income 1,357 1,026
187 1,026
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Government grants after one year 11,250 15,751
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4