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Company No: 02990411 (England and Wales)

SPORTS HOUSE LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

SPORTS HOUSE LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

SPORTS HOUSE LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
SPORTS HOUSE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTOR A Raja
REGISTERED OFFICE Treviot House
186-192 High Road
Ilford
IG1 1LR
England
United Kingdom
COMPANY NUMBER 02990411 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford, Essex
IG1 1LR
United Kingdom
SPORTS HOUSE LIMITED

BALANCE SHEET

As at 31 October 2023
SPORTS HOUSE LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Investment property 4 1,010,000 1,010,000
1,010,000 1,010,000
Current assets
Debtors 5 0 4,833
Cash at bank and in hand 204,974 191,101
204,974 195,934
Creditors: amounts falling due within one year 6 ( 118,024) ( 122,573)
Net current assets 86,950 73,361
Total assets less current liabilities 1,096,950 1,083,361
Creditors: amounts falling due after more than one year 7 ( 150,582) ( 162,719)
Provision for liabilities ( 53,953) ( 53,953)
Net assets 892,415 866,689
Capital and reserves
Called-up share capital 1,000 1,000
Fair value reserve 422,904 422,904
Profit and loss account 468,511 442,785
Total shareholders' funds 892,415 866,689

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sports House Limited (registered number: 02990411) were approved and authorised for issue by the Director on 30 September 2024. They were signed on its behalf by:

A Raja
Director
SPORTS HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
SPORTS HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sports House Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Treviot House, 186-192 High Road, Ilford, IG1 1LR, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the total rental income receivable during the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2022 21,934 21,934
At 31 October 2023 21,934 21,934
Accumulated depreciation
At 01 November 2022 21,934 21,934
At 31 October 2023 21,934 21,934
Net book value
At 31 October 2023 0 0
At 31 October 2022 0 0

4. Investment property

Investment property
£
Valuation
As at 01 November 2022 1,010,000
As at 31 October 2023 1,010,000

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 533,143 533,143

The investment properties were valued at fair value at the year end by the director based on his knowledge of the comparable local properties.

5. Debtors

2023 2022
£ £
Other debtors 0 4,833

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 12,257 12,550
Trade creditors 424 560
Taxation and social security 7,563 18,216
Other creditors 97,780 91,247
118,024 122,573

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 25,582 37,719
Other creditors 125,000 125,000
150,582 162,719