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REGISTERED NUMBER: SC485362 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Libero Sport & Education Limited

Libero Sport & Education Limited (Registered number: SC485362)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Libero Sport & Education Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: K A Moyes
Mrs C Moyes





REGISTERED OFFICE: 3 Park Gardens
Glasgow
G3 7YE





REGISTERED NUMBER: SC485362 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Libero Sport & Education Limited (Registered number: SC485362)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 58,087 1,789

CURRENT ASSETS
Debtors 5 320,244 312,157
Cash at bank and in hand 121,809 22,922
442,053 335,079
CREDITORS
Amounts falling due within one year 6 (255,114 ) (226,150 )
NET CURRENT ASSETS 186,939 108,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,026

110,718

CREDITORS
Amounts falling due after more than one
year

7

(97,652

)

(35,649

)

PROVISIONS FOR LIABILITIES (13,700 ) -
NET ASSETS 133,674 75,069

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 133,672 75,067
SHAREHOLDERS' FUNDS 133,674 75,069

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

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

The directors acknowledge their 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.

Libero Sport & Education Limited (Registered number: SC485362)

Balance Sheet - continued
31 January 2024


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 Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





K A Moyes - Director


Libero Sport & Education Limited (Registered number: SC485362)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Libero Sport & Education Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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 balance sheet date.

Deferred tax
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.

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.

Libero Sport & Education Limited (Registered number: SC485362)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Going concern
These accounts are prepared on a going concern basis, given the continued support of the director C Moyes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 58,256
Additions 57,054
At 31 January 2024 115,310
DEPRECIATION
At 1 February 2023 56,467
Charge for year 756
At 31 January 2024 57,223
NET BOOK VALUE
At 31 January 2024 58,087
At 31 January 2023 1,789

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 6,835 15,967
Other debtors 313,409 296,190
320,244 312,157

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 5,555 5,555
Hire purchase contracts (see note 8) 7,827 -
Trade creditors 14,051 41,093
Taxation and social security 21,722 28,051
Other creditors 205,959 151,451
255,114 226,150

Libero Sport & Education Limited (Registered number: SC485362)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 30,094 35,649
Hire purchase contracts (see note 8) 49,341 -
Amounts owed to associates 18,217 -
97,652 35,649

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 7,827 -
Between one and five years 49,341 -
57,168 -

9. RELATED PARTY DISCLOSURES

An amount of £19,292 (2023 : £21,492) was owed to the company by Albacove Limited, a company which is under the control of director C Moyes.

At the date of the financial statements C Moyes and K Moyes owed £193,820 (2023: £246,771) to the company. This loan is interest free and repayable on demand.

Included within other creditors is £18,217 (2023: £NIL) due to European Sport Funding Ltd, company which is under the control of director C Moyes.