Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 07240926 Mr Terry Franklin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07240926 2023-01-31 07240926 2024-01-31 07240926 2023-02-01 2024-01-31 07240926 frs-core:CurrentFinancialInstruments 2024-01-31 07240926 frs-core:Non-currentFinancialInstruments 2024-01-31 07240926 frs-core:ComputerEquipment 2024-01-31 07240926 frs-core:ComputerEquipment 2023-02-01 2024-01-31 07240926 frs-core:ComputerEquipment 2023-01-31 07240926 frs-core:FurnitureFittings 2024-01-31 07240926 frs-core:FurnitureFittings 2023-02-01 2024-01-31 07240926 frs-core:FurnitureFittings 2023-01-31 07240926 frs-core:PlantMachinery 2024-01-31 07240926 frs-core:PlantMachinery 2023-02-01 2024-01-31 07240926 frs-core:PlantMachinery 2023-01-31 07240926 frs-core:ShareCapital 2024-01-31 07240926 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 07240926 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07240926 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 07240926 frs-bus:SmallEntities 2023-02-01 2024-01-31 07240926 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07240926 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07240926 frs-bus:Director1 2023-02-01 2024-01-31 07240926 frs-countries:EnglandWales 2023-02-01 2024-01-31 07240926 2022-01-31 07240926 2023-01-31 07240926 2022-02-01 2023-01-31 07240926 frs-core:CurrentFinancialInstruments 2023-01-31 07240926 frs-core:Non-currentFinancialInstruments 2023-01-31 07240926 frs-core:ShareCapital 2023-01-31 07240926 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 07240926
STC Sports Club Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07240926
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,541 2,049
2,541 2,049
CURRENT ASSETS
Stocks 5 4,810 4,485
Debtors 6 34,654 56,040
Cash at bank and in hand 6,966 11,769
46,430 72,294
Creditors: Amounts Falling Due Within One Year 7 (33,551 ) (41,420 )
NET CURRENT ASSETS (LIABILITIES) 12,879 30,874
TOTAL ASSETS LESS CURRENT LIABILITIES 15,420 32,923
Creditors: Amounts Falling Due After More Than One Year 8 (35,185 ) (40,741 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (483 ) (389 )
NET LIABILITIES (20,248 ) (8,207 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (20,249 ) (8,208 )
SHAREHOLDERS' FUNDS (20,248) (8,207)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Terry Franklin
Director
12/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
STC Sports Club Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07240926 . The registered office is The Old Barn Off Wood Street, Swanley Village, Swanley, Kent, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 5,076 472 167 5,715
Additions 1,595 - - 1,595
As at 31 January 2024 6,671 472 167 7,310
Depreciation
As at 1 February 2023 3,570 71 25 3,666
Provided during the period 1,022 60 21 1,103
As at 31 January 2024 4,592 131 46 4,769
Net Book Value
As at 31 January 2024 2,079 341 121 2,541
As at 1 February 2023 1,506 401 142 2,049
5. Stocks
2024 2023
£ £
Stock 4,810 4,485
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 645 -
Other debtors 2,206 2,200
Director's loan account 31,803 53,840
34,654 56,040
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,683 14,053
Corporation tax - 1,492
Other taxes and social security 6,642 4,795
VAT 8,451 17,396
Other creditors 3,775 3,684
33,551 41,420
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 35,185 40,741
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
Included in other debtors is an amount of £31,803 (£53,840 Debtor in 2023), owed by the company director Mr T Franklin. This loan is interest free and no repayment terms have been agreed.
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