Registered number
12029177
STRIKE BOWLING LTD
Unaudited Filleted Accounts
31 December 2023
STRIKE BOWLING LTD
Registered number: 12029177
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,311,919 1,392,823
Current assets
Stocks 5,924 5,400
Debtors 4 211,584 161,508
Cash at bank and in hand 411,643 61,440
629,151 228,348
Creditors: amounts falling due within one year 5 (2,700,788) (2,133,296)
Net current liabilities (2,071,637) (1,904,948)
Total assets less current liabilities (759,718) (512,125)
Creditors: amounts falling due after more than one year 6 (159,436) (227,346)
Net liabilities (919,154) (739,471)
Capital and reserves
Called up share capital 2 2
Profit and loss account (919,156) (739,473)
Shareholders' funds (919,154) (739,471)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Delfgou
Director
Approved by the board on 25 September 2024
STRIKE BOWLING LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Going concern
The accounts have been prepared on a going concern basis even though this basis may not be appropriate as the company made a loss in the period and had a net liabilities position at the year end. However the directors believe that the company will continue its operating existence in the foreseeable future as they have pledged to continue to provide working capital and support to the company in order to meet its obligations as they fall due and not call in their interest free loans advanced to the company until is in a position to pay.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term of 20 years
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Operating lease commitments
Operating lease commitments are recognised as an expense on a straight line basis over the lease term
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 25 27
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 1,478,388 81,870 1,560,258
Additions 4,300 5,978 10,278
At 31 December 2023 1,482,688 87,848 1,570,536
Depreciation
At 1 January 2023 144,135 23,300 167,435
Charge for the year 78,274 12,908 91,182
At 31 December 2023 222,409 36,208 258,617
Net book value
At 31 December 2023 1,260,279 51,640 1,311,919
At 31 December 2022 1,334,253 58,570 1,392,823
4 Debtors 2023 2022
£ £
Trade debtors 40,106 30,415
Other debtors 171,478 131,093
211,584 161,508
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 67,889 59,121
Trade creditors 129,162 97,804
Taxation and social security costs 60,350 71,213
Other creditors 2,443,387 1,905,158
2,700,788 2,133,296
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 159,436 227,346
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 9,676 16,275
Secured bank loans 186,377 239,707
The loans are secured by a fixed charge over certain assets of the company.
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 2,081,878 2,287,624
9 Controlling party
At the end of the year there was no single controlling party.
10 Other information
STRIKE BOWLING LTD is a private company limited by shares and incorporated in England. Its registered office is:
12 Pembroke Road
London
W8 6NT
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