IRIS Accounts Production v24.3.0.553 07467482 director 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074674822023-03-31074674822024-03-31074674822023-04-012024-03-31074674822021-12-31074674822022-01-012023-03-31074674822023-03-3107467482ns15:EnglandWales2023-04-012024-03-3107467482ns14:PoundSterling2023-04-012024-03-3107467482ns10:Director12023-04-012024-03-3107467482ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107467482ns10:SmallEntities2023-04-012024-03-3107467482ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107467482ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107467482ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107467482ns10:FullAccounts2023-04-012024-03-3107467482ns10:OrdinaryShareClass12023-04-012024-03-3107467482ns10:RegisteredOffice2023-04-012024-03-3107467482ns5:CurrentFinancialInstruments2024-03-3107467482ns5:CurrentFinancialInstruments2023-03-3107467482ns5:Non-currentFinancialInstruments2024-03-3107467482ns5:Non-currentFinancialInstruments2023-03-3107467482ns5:ShareCapital2024-03-3107467482ns5:ShareCapital2023-03-3107467482ns5:RetainedEarningsAccumulatedLosses2024-03-3107467482ns5:RetainedEarningsAccumulatedLosses2023-03-3107467482ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3107467482ns5:LeaseholdImprovements2023-04-012024-03-3107467482ns5:PlantMachinery2023-04-012024-03-3107467482ns5:FurnitureFittings2023-04-012024-03-3107467482ns5:MotorVehicles2023-04-012024-03-3107467482ns5:ComputerEquipment2023-04-012024-03-3107467482ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3107467482ns5:LeaseholdImprovements2023-03-3107467482ns5:PlantMachinery2023-03-3107467482ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-3107467482ns5:LeaseholdImprovements2024-03-3107467482ns5:PlantMachinery2024-03-3107467482ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3107467482ns5:LeaseholdImprovements2023-03-3107467482ns5:PlantMachinery2023-03-3107467482ns5:FurnitureFittings2023-03-3107467482ns5:MotorVehicles2023-03-3107467482ns5:ComputerEquipment2023-03-3107467482ns5:FurnitureFittings2024-03-3107467482ns5:MotorVehicles2024-03-3107467482ns5:ComputerEquipment2024-03-3107467482ns5:FurnitureFittings2023-03-3107467482ns5:MotorVehicles2023-03-3107467482ns5:ComputerEquipment2023-03-3107467482ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107467482ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107467482ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3107467482ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3107467482ns5:WithinOneYear2024-03-3107467482ns5:WithinOneYear2023-03-3107467482ns5:BetweenOneFiveYears2024-03-3107467482ns5:BetweenOneFiveYears2023-03-3107467482ns5:MoreThanFiveYears2024-03-3107467482ns5:MoreThanFiveYears2023-03-3107467482ns5:AllPeriods2024-03-3107467482ns5:AllPeriods2023-03-3107467482ns5:DeferredTaxation2023-03-3107467482ns5:DeferredTaxation2023-04-012024-03-3107467482ns5:DeferredTaxation2024-03-3107467482ns10:OrdinaryShareClass12024-03-3107467482ns5:RetainedEarningsAccumulatedLosses2023-03-3107467482ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 07467482 (England and Wales)


Paringdon Sports Club Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Paringdon Sports Club Limited (Registered number: 07467482)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Paringdon Sports Club Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: Mr O Aksu





REGISTERED OFFICE: 239-241 Kennington Lane
London
SE11 5QU





REGISTERED NUMBER: 07467482 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Paringdon Sports Club Limited (Registered number: 07467482)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 319,400 334,204

CURRENT ASSETS
Stocks 4,860 9,059
Debtors 5 72,627 92,077
Cash at bank and in hand 12,529 26,673
90,016 127,809
CREDITORS
Amounts falling due within one year 6 57,196 81,999
NET CURRENT ASSETS 32,820 45,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,220

380,014

CREDITORS
Amounts falling due after more than one
year

7

-

(22,556

)

PROVISIONS FOR LIABILITIES 9 (5,230 ) (6,671 )
NET ASSETS 346,990 350,787

Paringdon Sports Club Limited (Registered number: 07467482)

Statement of Financial Position - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 346,890 350,687
SHAREHOLDERS' FUNDS 346,990 350,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2024 and were signed by:





Mr O Aksu - Director


Paringdon Sports Club Limited (Registered number: 07467482)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Paringdon Sports Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the company obtains the right to consideration. Subscriptions are recognised for the period covered by the subscriptions and for all other services, on completion of the service. For the cafe, when customers take delivery of the order. The turnover is derived from the ordinary activities of the business.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost of stocks are valued using the first in first out stock valuation method. Net realisable value is the estimated selling price less cost to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Paringdon Sports Club Limited (Registered number: 07467482)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company is dependent on the financial support from the director of the company. The director expects that this support will continue. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 15 ) .

Paringdon Sports Club Limited (Registered number: 07467482)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023
and 31 March 2024 293,947 46,000 181,197
DEPRECIATION
At 1 April 2023 37,453 7,878 146,695
Charge for year 6,124 762 6,900
At 31 March 2024 43,577 8,640 153,595
NET BOOK VALUE
At 31 March 2024 250,370 37,360 27,602
At 31 March 2023 256,494 38,122 34,502

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 7,967 5,000 25,129 559,240
DEPRECIATION
At 1 April 2023 6,964 3,771 22,275 225,036
Charge for year 201 246 571 14,804
At 31 March 2024 7,165 4,017 22,846 239,840
NET BOOK VALUE
At 31 March 2024 802 983 2,283 319,400
At 31 March 2023 1,003 1,229 2,854 334,204

Paringdon Sports Club Limited (Registered number: 07467482)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,049 1,839
Amounts owed by group undertakings 20,382 49,882
Paringdon Comm. Leisure Ltd 24,201 39,107
Social Security and other taxes 2,207 -
Prepayments 6,788 1,249
72,627 92,077

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,556 38,667
Trade creditors 17,823 11,585
Tax 2,166 -
Social security and other taxes - 127
VAT 12,166 26,602
Accrued expenses 2,485 5,018
57,196 81,999

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 22,556

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 29,000 29,000
Between one and five years 116,000 116,000
In more than five years 1,044,000 1,073,000
1,189,000 1,218,000

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,230 6,671

Paringdon Sports Club Limited (Registered number: 07467482)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 6,671
Credit to Income Statement during year (1,441 )
Balance at 31 March 2024 5,230

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 350,687
Deficit for the year (3,797 )
At 31 March 2024 346,890