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Registration number: 03929181

Service Sports (Wetherby) Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 30 April 2024

 

Service Sports (Wetherby) Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Service Sports (Wetherby) Ltd

(Registration number: 03929181)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

164,980

 

181,228

Current assets

   

 

Stocks

294,872

 

370,661

 

Debtors

5

392,780

 

221,996

 

Cash at bank and in hand

 

179,777

 

147,656

 

 

867,429

 

740,313

 

Creditors: Amounts falling due within one year

6

(239,369)

 

(220,842)

 

Net current assets

   

628,060

 

519,471

Total assets less current liabilities

   

793,040

 

700,699

Creditors: Amounts falling due after more than one year

6

 

-

 

(37,878)

Provisions for liabilities

 

(10,161)

 

(12,420)

Net assets

   

782,879

 

650,401

Capital and reserves

   

 

Called up share capital

7

99

 

99

 

Profit and loss account

782,780

 

650,302

 

Total equity

   

782,879

 

650,401

 

Service Sports (Wetherby) Ltd

(Registration number: 03929181)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 October 2024
 

.........................................
Mr R.M. Kendall
Director

 

Service Sports (Wetherby) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 10 Home Farm Properties
Wighill Park
Featherbed Lane
Tadcaster
LS24 8BN

These financial statements were authorised for issue by the director on 21 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Service Sports (Wetherby) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% reducing balance

Motor vehicles

25% reducing balance

Website

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Service Sports (Wetherby) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 8).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

135,000

91,776

19,709

246,485

Additions

-

-

4,086

4,086

Disposals

-

(17,460)

-

(17,460)

At 30 April 2024

135,000

74,316

23,795

233,111

Depreciation

At 1 May 2023

8,100

39,420

17,737

65,257

Charge for the year

2,700

10,468

493

13,661

Eliminated on disposal

-

(10,787)

-

(10,787)

At 30 April 2024

10,800

39,101

18,230

68,131

Carrying amount

At 30 April 2024

124,200

35,215

5,565

164,980

At 30 April 2023

126,900

52,356

1,972

181,228

Included within the net book value of land and buildings above is £124,200 (2023 - £126,900) in respect of freehold land and buildings.
 

 

Service Sports (Wetherby) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

293,458

140,355

Prepayments

2,875

2,875

Other debtors

96,447

78,766

 

392,780

221,996

6

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

-

18,182

Trade creditors

127,852

109,540

Taxation and social security

82,778

37,843

Other creditors

28,739

55,277

239,369

220,842

Due after one year

Loans and borrowings

-

37,878

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

90

90

90

90

Ordinary C of £1 each

5

5

5

5

Ordinary B of £1 each

4

4

4

4

 

99

99

99

99