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Company registration number: 02473971
Sportsturf (Maintenance) Limited
Unaudited filleted financial statements
31 March 2024
Sportsturf (Maintenance) Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Sportsturf (Maintenance) Limited
Directors and other information
Director Mr R Moore
Company number 02473971
Registered office 103 Hayling Rise
Worthing
West Sussex
BN13 3AQ
Business address 103 Hayling Rise
Worthing
BN13 3AQ
Accountants Keith Bellenie & Co Ltd
3 Cecilian Court
Cecilian Avenue
Worthing
West Sussex
BN14 8AP
Bankers Nat West
Sportsturf (Maintenance) Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 121,918 60,129
_______ _______
121,918 60,129
Current assets
Debtors 6 57,655 86,238
Cash at bank and in hand 23,783 12,786
_______ _______
81,438 99,024
Creditors: amounts falling due
within one year 7 ( 53,959) ( 74,438)
_______ _______
Net current assets 27,479 24,586
_______ _______
Total assets less current liabilities 149,397 84,715
Creditors: amounts falling due
after more than one year 8 ( 55,665) ( 20,690)
Provisions for liabilities ( 8,062) ( 2,239)
Accruals and deferred income ( 4,136) ( 4,200)
_______ _______
Net assets 81,534 57,586
_______ _______
Capital and reserves
Called up share capital 100 100
Capital redemption reserve 36,611 36,611
Profit and loss account 44,823 20,875
_______ _______
Shareholders funds 81,534 57,586
_______ _______
For the year ending 31 March 2024 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 September 2024 , and are signed on behalf of the board by:
Mr R Moore
Director
Company registration number: 02473971
Sportsturf (Maintenance) Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 103 Hayling Rise, Worthing, West Sussex, BN13 3AQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery - 25 % reducing balance
Office equipment - 20 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 8 ).
5. Tangible assets
Plant and machinery Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 95,805 932 67,794 164,531
Additions 50,599 - 37,038 87,637
Disposals - - ( 950) ( 950)
_______ _______ _______ _______
At 31 March 2024 146,404 932 103,882 251,218
_______ _______ _______ _______
Depreciation
At 1 April 2023 58,548 186 45,668 104,402
Charge for the year 10,791 150 14,551 25,492
Disposals - - ( 594) ( 594)
_______ _______ _______ _______
At 31 March 2024 69,339 336 59,625 129,300
_______ _______ _______ _______
Carrying amount
At 31 March 2024 77,065 596 44,257 121,918
_______ _______ _______ _______
At 31 March 2023 37,257 746 22,126 60,129
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 50,938 77,088
Other debtors 6,717 9,150
_______ _______
57,655 86,238
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Loans 24,581 15,354
Trade creditors 5,547 21,019
Social security and other taxes 19,210 31,224
Other creditors 4,621 6,841
_______ _______
53,959 74,438
_______ _______
The National Westminster Bank Plc has a mortgage debenture on all monies due to it. The security is a fixed and floating charge over the assets of the company.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 55,665 20,690
_______ _______