Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity32trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09503094 2023-04-01 2024-03-31 09503094 2022-04-01 2023-03-31 09503094 2024-03-31 09503094 2023-03-31 09503094 c:Director1 2023-04-01 2024-03-31 09503094 d:FurnitureFittings 2023-04-01 2024-03-31 09503094 d:FurnitureFittings 2024-03-31 09503094 d:FurnitureFittings 2023-03-31 09503094 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09503094 d:ComputerEquipment 2023-04-01 2024-03-31 09503094 d:ComputerEquipment 2024-03-31 09503094 d:ComputerEquipment 2023-03-31 09503094 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09503094 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09503094 d:CurrentFinancialInstruments 2024-03-31 09503094 d:CurrentFinancialInstruments 2023-03-31 09503094 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09503094 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09503094 d:ShareCapital 2024-03-31 09503094 d:ShareCapital 2023-03-31 09503094 d:RetainedEarningsAccumulatedLosses 2024-03-31 09503094 d:RetainedEarningsAccumulatedLosses 2023-03-31 09503094 c:FRS102 2023-04-01 2024-03-31 09503094 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09503094 c:FullAccounts 2023-04-01 2024-03-31 09503094 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09503094 2 2023-04-01 2024-03-31 09503094 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 09503094









THE SPORTS SCIENCE AGENCY LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
THE SPORTS SCIENCE AGENCY LTD
REGISTERED NUMBER: 09503094

BALANCE SHEET
AS AT 31 MARCH 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,352
2,670

  
5,352
2,670

Current assets
  

Stocks
  
10,000
-

Debtors: amounts falling due within one year
 5 
76,585
51,321

Cash at bank and in hand
  
29,941
28,965

  
116,526
80,286

Creditors: amounts falling due within one year
 6 
(79,594)
(50,017)

Net current assets
  
 
 
36,932
 
 
30,269

Total assets less current liabilities
  
42,284
32,939

Provisions for liabilities
  

Deferred tax
  
(1,338)
-

  
 
 
(1,338)
 
 
-

Net assets
  
40,946
32,939


Capital and reserves
  

Called up share capital 
  
102
102

Profit and loss account
  
40,844
32,837

  
40,946
32,939


Page 1

 
THE SPORTS SCIENCE AGENCY LTD
REGISTERED NUMBER: 09503094
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2024.




J M Mulcahy
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THE SPORTS SCIENCE AGENCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private limited company, which is incorporated and registered in England (registration number: 09503094). The address of the registered office is Cromwell House, 68 West Gate, Mansfield, Nottinghamshire, NG18 1RR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. Based on their assessment of known and anticipated economic changes, the directors believe that the company has sufficient resources to be able to continue to trade for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
THE SPORTS SCIENCE AGENCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
THE SPORTS SCIENCE AGENCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
THE SPORTS SCIENCE AGENCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis or using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
Reducing balance
Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Work-in-progress

Work-in-progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell, including labour and attributable overheads.

At each balance sheet date, work-in-progress is assessed for impairment and, if impaired, the carrying amount is reduced to selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).

Page 6

 
THE SPORTS SCIENCE AGENCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
1,377
10,459
11,836


Additions
-
4,568
4,568



At 31 March 2024

1,377
15,027
16,404



Depreciation


At 1 April 2023
225
8,941
9,166


Charge for the year on owned assets
173
1,713
1,886



At 31 March 2024

398
10,654
11,052



Net book value



At 31 March 2024
979
4,373
5,352



At 31 March 2023
1,152
1,518
2,670


5.


Debtors

2024
2023
£
£


Trade debtors
41,351
51,321

Other debtors
35,234
-

76,585
51,321


Page 7

 
THE SPORTS SCIENCE AGENCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,403
18,472

Other taxation and social security
5,539
30,842

Other creditors
64,662
703

Accruals and deferred income
4,990
-

79,594
50,017



7.


Prior year adjustment

Debtor and creditor balances previously netted off in 2023 have been grossed up. Comparatives have been restated accordingly.
There is no impact from these restatements on the results for the year ended 31 March 2023 nor to net assets at that date.


8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £110,533 (2023 - £13,000). Contributions totalling £168 (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


9.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 8