CB Sports Performance Ltd 08850670 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is improving sports people's performances Digita Accounts Production Advanced 6.30.9574.0 true 08850670 2023-04-01 2024-03-31 08850670 2024-03-31 08850670 bus:OrdinaryShareClass1 2024-03-31 08850670 bus:OrdinaryShareClass2 2024-03-31 08850670 core:CurrentFinancialInstruments 2024-03-31 08850670 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08850670 core:FurnitureFittingsToolsEquipment 2024-03-31 08850670 bus:SmallEntities 2023-04-01 2024-03-31 08850670 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08850670 bus:AbridgedAccounts 2023-04-01 2024-03-31 08850670 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08850670 bus:RegisteredOffice 2023-04-01 2024-03-31 08850670 bus:Director1 2023-04-01 2024-03-31 08850670 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08850670 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 08850670 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08850670 core:Goodwill 2023-04-01 2024-03-31 08850670 core:FurnitureFittings 2023-04-01 2024-03-31 08850670 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08850670 countries:AllCountries 2023-04-01 2024-03-31 08850670 2023-03-31 08850670 core:FurnitureFittingsToolsEquipment 2023-03-31 08850670 2022-04-01 2023-03-31 08850670 2023-03-31 08850670 bus:OrdinaryShareClass1 2023-03-31 08850670 bus:OrdinaryShareClass2 2023-03-31 08850670 core:CurrentFinancialInstruments 2023-03-31 08850670 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08850670 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08850670

CB Sports Performance Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

CB Sports Performance Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

CB Sports Performance Ltd

Company Information

Director

Mr Christopher Alan Barnes

Registered office

St Helens
Uttoxeter Road
Abbots Bromley
Rugeley
Staffs
WS15 3EG

Accountants

David Evans & Co Limited
Stowegate House
Lombard Street
Lichfield
Staffs
WS13 6DP

 

CB Sports Performance Ltd

(Registration number: 08850670)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1,000

Tangible assets

5

212

440

 

213

1,440

Current assets

 

Debtors

6

3,120

18,617

Cash at bank and in hand

 

35,203

56,146

 

38,323

74,763

Prepayments and accrued income

 

706

305

Creditors: Amounts falling due within one year

(14,838)

(20,975)

Net current assets

 

24,191

54,093

Total assets less current liabilities

 

24,404

55,533

Provisions for liabilities

(40)

(84)

Accruals and deferred income

 

(1,465)

(1,634)

Net assets

 

22,899

53,815

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

22,799

53,715

Shareholders' funds

 

22,899

53,815

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

CB Sports Performance Ltd

(Registration number: 08850670)
Abridged Balance Sheet as at 31 March 2024

Approved and authorised by the director on 7 June 2024
 

.........................................
Mr Christopher Alan Barnes
Director

 

CB Sports Performance Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Engkand and Wales.

The address of its registered office is:
St Helens
Uttoxeter Road
Abbots Bromley
Rugeley
Staffs
WS15 3EG

These financial statements were authorised for issue by the director on 7 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

CB Sports Performance Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% per annum calculated on the reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% per annum

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

CB Sports Performance Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

CB Sports Performance Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

10,000

At 31 March 2024

10,000

Amortisation

At 1 April 2023

9,000

Amortisation charge

999

At 31 March 2024

9,999

Carrying amount

At 31 March 2024

1

At 31 March 2023

1,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

3,605

3,605

At 31 March 2024

3,605

3,605

Depreciation

At 1 April 2023

3,165

3,165

Charge for the year

228

228

At 31 March 2024

3,393

3,393

Carrying amount

At 31 March 2024

212

212

At 31 March 2023

440

440

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

CB Sports Performance Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each

90

90

90

90

Ordinary B shares of £1 each

10

10

10

10

 

100

100

100

100