REGISTERED NUMBER: |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
REGISTERED NUMBER: |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Shorrock House |
1 Faraday Court |
Fulwood |
Preston |
Lancashire |
PR2 9NB |
BANKERS: |
292 Garstang Road |
Fulwood |
Preston |
Lancashire |
PR2 9RQ |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538) |
ABRIDGED BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Professional Sportsturf Design (North West) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 £. |
Turnover |
Turnover represents net invoiced value of services supplied, excluding value added tax. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of 5 years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Office equipment | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Long term contracts |
When the outcome of a contract can be assessed with reasonable certainty an appropriate proportion of total contract value is included in turnover. The costs incurred in reaching that stage of completion are matched with this turnover. Hence the profit recognised in the accounts is the profit on the proportion of the contract completed by the balance sheet date. Where the directors expect an overall loss on a contract this is recognised as soon as it is foreseen. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Amortisation for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 | 27,350 |
DEPRECIATION |
At 1 January 2023 | 2,735 |
Charge for year | 2,462 |
At 31 December 2023 | 5,197 |
NET BOOK VALUE |
At 31 December 2023 | 22,153 |
At 31 December 2022 | 24,615 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2023 | 7,715 |
Additions | 300,000 |
At 31 December 2023 | 307,715 |
PROVISIONS |
At 1 January 2023 |
and 31 December 2023 | 7,500 |
NET BOOK VALUE |
At 31 December 2023 | 300,215 |
At 31 December 2022 | 215 |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Shorrock House, 1 Faraday Court, Fulwood, Preston, Lancashire PR2 9NB |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 4 Doolittle Mill, Froghall Road, Ampthill, Bedford, Bedfordshire MK45 2ND |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Shorrock House, 1 Faraday Court, Fulwood, Preston, Lancashire PR2 9NB |
Nature of business: |
% |
Class of shares: | holding |
7. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Gross obligations repayable: |
Within one year |
Between one and five years |
Finance charges repayable: |
Within one year |
Between one and five years |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
PROFESSIONAL SPORTSTURF DESIGN |
(NORTH WEST) LIMITED (REGISTERED NUMBER: 01957538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
The company had the following related party transactions with non-wholly owned group companies: |
2023 | 2022 |
£ | £ |
Dividends paid | - | 150,000 |
Management charges paid | 112,334 | 109,185 |
Sales | 27,857 | 26,190 |
Debtors | 144,979 | 138,841 |
Purchases | 317,542 | 404,757 |
Creditors | 27,913 | 28,877 |
10. | ULTIMATE CONTROLLING PARTY |
The company was, at the end of the year, a wholly owned subsidiary of another company, incorporated in France. This parent company, SAS Labonext is a wholly owned subsidiary in its own right. The ultimate parent company prepares consolidated financial statements. In accordance with Section 401 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated financial statements. As a result, these financial statements present information about it as an individual, not its group. |
The directors consider the ultimate controlling party to be Greenpeak Fund II GmbH & Co. KG, a company incorporated in Germany. The correspondence address for Greenpeak Fund II GmbH & Co. KG is: Theatinerstraße 14, D – 80333 München, Germany. |
The financial statements for Greenpeak Fund II GmbH & Co. KG are publicly available from the following web address: https://www.unternehmensregister.de/ureg/index.html;jsessionid=027654FF4C22CFAC6B814A72D076A536.we b01-1. |