REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
OUTSIDE SPORT LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
OUTSIDE SPORT LIMITED |
OUTSIDE SPORT LIMITED (REGISTERED NUMBER: 06288923) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
OUTSIDE SPORT LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
OUTSIDE SPORT LIMITED (REGISTERED NUMBER: 06288923) |
STATEMENT OF FINANCIAL POSITION |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
OUTSIDE SPORT LIMITED (REGISTERED NUMBER: 06288923) |
STATEMENT OF FINANCIAL POSITION - continued |
31 December 2023 |
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 director and authorised for issue on |
OUTSIDE SPORT LIMITED (REGISTERED NUMBER: 06288923) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Outside Sport Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. the financial statements have been prepared under the historical cost convention. |
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 principal accounting policies adopted in the preparation of the financial statements are set out below. |
Turnover |
Turnover is recognised at the fair value of the consideration receivable for services provided and is shown net of VAT. |
Turnover is recognised in accordance with the period that the customer has subscribed for. |
Tangible fixed assets |
Tangible fixed assets are stated cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery etc. - 33.3% on cost and 15% reducing balance. |
Financial instruments |
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments. |
The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, trade creditors and accruals. |
Financial instruments that are payable or receivable within one year, typically bank accounts, trade debtors trade creditors and accruals, are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received. |
Financial instruments repayable in more than one year are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
OUTSIDE SPORT LIMITED (REGISTERED NUMBER: 06288923) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The amounts advanced are unsecured, no interest has been charged and have been repaid to the company within nine months of the reporting date. |
OUTSIDE SPORT LIMITED (REGISTERED NUMBER: 06288923) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
8. | RELATED PARTY DISCLOSURES |
Healthworks (North West) Limited |
A company registered in England and Wales under common control |
During the year the company charged Healthworks (North West) Limited £9,250 (2022: £7,976) in respect of management fees. |
During the year the company paid Healthworks (North West) Limited £3,850 (2022: £1,200) in respect of management fees. |
Included in debtors is £7,748 (2022: £5,873) due from Healthworks (North West) Limited. |
Included in creditors is £4,620 (2022: £NIL) owed to Healthworks (North West) Limited. |
9. | POST BALANCE SHEET EVENTS |
Since the reporting date dividends of £102,145 have been declared. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is A C Clarke. |