Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10859979 Mr K Mccabe Mr G Redman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10859979 2023-07-31 10859979 2024-07-31 10859979 2023-08-01 2024-07-31 10859979 frs-core:CurrentFinancialInstruments 2024-07-31 10859979 frs-core:Non-currentFinancialInstruments 2024-07-31 10859979 frs-core:BetweenOneFiveYears 2024-07-31 10859979 frs-core:ComputerEquipment 2023-08-01 2024-07-31 10859979 frs-core:NetGoodwill 2024-07-31 10859979 frs-core:NetGoodwill 2023-08-01 2024-07-31 10859979 frs-core:NetGoodwill 2023-07-31 10859979 frs-core:PlantMachinery 2024-07-31 10859979 frs-core:PlantMachinery 2023-08-01 2024-07-31 10859979 frs-core:PlantMachinery 2023-07-31 10859979 frs-core:WithinOneYear 2024-07-31 10859979 frs-core:ShareCapital 2024-07-31 10859979 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10859979 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10859979 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10859979 frs-bus:SmallEntities 2023-08-01 2024-07-31 10859979 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10859979 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10859979 frs-bus:Director1 2023-08-01 2024-07-31 10859979 frs-bus:Director2 2023-08-01 2024-07-31 10859979 frs-countries:EnglandWales 2023-08-01 2024-07-31 10859979 2022-07-31 10859979 2023-07-31 10859979 2022-08-01 2023-07-31 10859979 frs-core:CurrentFinancialInstruments 2023-07-31 10859979 frs-core:Non-currentFinancialInstruments 2023-07-31 10859979 frs-core:BetweenOneFiveYears 2023-07-31 10859979 frs-core:WithinOneYear 2023-07-31 10859979 frs-core:ShareCapital 2023-07-31 10859979 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 10859979
TS3 Sports Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10859979
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 27,182 26,694
27,182 26,694
CURRENT ASSETS
Stocks 6 4,000 1,500
Debtors 7 21,125 23,404
Cash at bank and in hand 67,569 74,554
92,694 99,458
Creditors: Amounts Falling Due Within One Year 8 (91,339 ) (95,493 )
NET CURRENT ASSETS (LIABILITIES) 1,355 3,965
TOTAL ASSETS LESS CURRENT LIABILITIES 28,537 30,659
Creditors: Amounts Falling Due After More Than One Year 9 (27,748 ) (29,250 )
NET ASSETS 789 1,409
CAPITAL AND RESERVES
Called up share capital 11 2 2
Income Statement 787 1,407
SHAREHOLDERS' FUNDS 789 1,409
Page 1
Page 2
For the year ending 31 July 2024 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 Income Statement.
The financial statements were approved by the board of directors on 3 September 2024 and were signed on its behalf by:
Mr K Mccabe
Director
Mr G Redman
Director
3 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TS3 Sports Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10859979 . The registered office is Unit 23, Whitestone Business Park, Middlesbrough, TS4 2EB.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Computer Equipment 20% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. 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.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 10,000
As at 31 July 2024 10,000
Amortisation
As at 1 August 2023 10,000
As at 31 July 2024 10,000
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 August 2023 50,990
Additions 8,416
As at 31 July 2024 59,406
Depreciation
As at 1 August 2023 24,296
Provided during the period 7,928
As at 31 July 2024 32,224
Net Book Value
As at 31 July 2024 27,182
As at 1 August 2023 26,694
6. Stocks
2024 2023
£ £
Stocks 4,000 1,500
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,188 17,726
Other debtors 4,937 5,678
21,125 23,404
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,334 9,786
Trade creditors 10,316 22,026
Bank loans and overdrafts 3,732 3,656
Other creditors 51,535 48,000
Taxation and social security 21,422 12,025
91,339 95,493
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,323 2,125
Bank loans 23,425 27,125
27,748 29,250
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,334 9,786
Later than one year and not later than five years 4,323 2,125
8,657 11,911
8,657 11,911
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
12. Related Party Transactions
At the period end, TS3 Sports Limited was owed £4,937 (2023: £3,900) by NE Workwear Limited, a company related by key management personnel. This amount is interest free and repayable on demand.
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