REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 July 2023 to 30 September 2024 |
for |
Prescott Sporting Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 July 2023 to 30 September 2024 |
for |
Prescott Sporting Limited |
Prescott Sporting Limited (Registered number: 09872218) |
Contents of the Financial Statements |
for the Period 1 July 2023 to 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Prescott Sporting Limited |
Company Information |
for the Period 1 July 2023 to 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountant |
32 Leicester Street |
Melton Mowbray |
Leicestershire |
LE13 0PP |
Prescott Sporting Limited (Registered number: 09872218) |
Balance Sheet |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
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. |
Prescott Sporting Limited (Registered number: 09872218) |
Balance Sheet - continued |
30 September 2024 |
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 |
Prescott Sporting Limited (Registered number: 09872218) |
Notes to the Financial Statements |
for the Period 1 July 2023 to 30 September 2024 |
1. | STATUTORY INFORMATION |
Prescott Sporting Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes as applicable. It includes income from the sale of goods, hire of facilities, corporate events, competition fees and secondary sales from catering facilities. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life or, if held under a finance lease, over the lease term, whichever is the shorter. |
Land and buildings - 2% on cost |
Plant and machinery etc - 33% on cost, 33% on reducing balance, 25% on cost, 25% on reducing |
balance, 20% on cost and 10% on cost |
Plant and machinery etc under finance lease - 20% on cost and 10% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items. Stock includes goods kept for demonstration purposes which are available for resale at not less than cost. |
Taxation |
Taxation for the period 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. |
Prescott Sporting Limited (Registered number: 09872218) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 30 September 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 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 period 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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 September 2024 |
AMORTISATION |
At 1 July 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 June 2023 |
Prescott Sporting Limited (Registered number: 09872218) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 30 September 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 July 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 June 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2023 |
Disposals | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 July 2023 |
Eliminated on disposal | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 June 2023 |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Prescott Sporting Limited (Registered number: 09872218) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 30 September 2024 |
6. | DEBTORS - continued |
2024 | 2023 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by a fixed charge over the freehold land at the shooting ground. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the period the directors of the company received advances of £947,234. Repayments of £616,051 were made. The maximum balance outstanding is the period end balance of £460,585. |
The loans are not interest bearing and are repayable on demand. |
11. | POST BALANCE SHEET EVENTS |
Orston Shooting Ground was sold on 30 June 2024. The company having disposed of its trade has been settling its liabilities with a view to winding up after 30 September 2024. |