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Company registration number: |
13369836
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STERRY SPORTS AND FITNESS LIMITED
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 March 2024 |
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STERRY SPORTS AND FITNESS LIMITED |
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BALANCE SHEET |
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AS AT 31 March 2024
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2024 |
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Notes |
£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Intangible assets | | | 3 | | | 19,200 | | | |
Tangible assets | | | 4 | | | 6,184 | |
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| | | | | | | 25,384 |
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CURRENT ASSETS |
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Debtors | | | | 20,085 |
Cash at bank and in hand | | | | 29,286 |
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| | | | | 49,371 |
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CREDITORS |
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Amounts falling due within one year |
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(68,402) |
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NET CURRENT ASSETS |
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(19,031) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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6,353 |
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NET ASSETS |
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6,353 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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100 |
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Profit and loss account |
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6,253 |
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SHAREHOLDERS FUNDS |
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6,353 |
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For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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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. Approved by the board of directors on 7 October 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
L Sterry |
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7 October 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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STERRY SPORTS AND FITNESS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2024 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Income is recognised from sports courses in the year in which it is receivable and is included net of any attributable value added tax. | |
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| Intangible Assets |
| Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over a period of five years, which is the maximum period over which the directors consider its useful life can be predicted. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: | |
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| Plant and Machinery - 20% per annum of cost | |
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| Motor Vehicles - 20% reducing balance | |
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| Deferred Taxation | | | | | | | | |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date. | |
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| Pension Scheme | | | | | | | | |
| The company operates a statutory contribution pension scheme. The pension charge is the amount payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 21. |
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3. | Intangible fixed assets | | | | | | | | | |
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| Cost | | | | | | | | | | |
| Additions | | | 24,000 |
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24,000 |
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| Amortisation | | | | | | | | | | |
| Provided during the period | | 4,800 |
| At end of period | | 4,800 |
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| Net Book Values | | | | | | | | | |
| At end of period | | 19,200 |
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4. | Tangible fixed assets | | | | | | | | | |
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Total |
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| Cost | | | | | | | | | | |
| Additions | | | 7,730 | |
| At end of period | | 7,730 | |
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| Depreciation | | | | | | | | | | |
| Provided during the period | | 1,546 | |
| At end of period | | 1,546 | |
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| Net Book Value | | | | | | | | | |
| At end of period | | 6,184 | |
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5. | Related Party Transactions | | | | | | | | |
| The directors have maintained a joint interest free loan to the company. The balance outstanding at the balance sheet date was £20,501. Dividends totalling £38,000 were paid to directors during the year. Non-director shareholder has maintained interest free loans to the company. The balance outstanding at the balance sheet date was £1,990. | |
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6. | Pension costs | | | | | | | | |
| The company operates a statutory contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. | |
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