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Registration number: 08249901

Tribal Sports Nutrition Limited

Filleted Unaudited Financial Statements

for the Period from 1 November 2022 to 30 September 2023

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Company Information

Directors

V Pataia

A L Brouhard

C J Martin

D C Beck

S W Whiteford

Registered office

Unit 20 Newcourt Barton
Clyst Road
Topsham, Exeter
Devon
EX3 0DG

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Balance Sheet as at 30 September 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Intangible assets

4

758

-

Current assets

 

Stocks

5

24,089

29,646

Debtors

6

-

36,859

Cash at bank and in hand

 

-

27

 

24,089

66,532

Creditors: Amounts falling due within one year

7

(33,806)

(36,096)

Net current (liabilities)/assets

 

(9,717)

30,436

Total assets less current liabilities

 

(8,959)

30,436

Creditors: Amounts falling due after more than one year

7

(1,438)

(2,084)

Net (liabilities)/assets

 

(10,397)

28,352

Capital and reserves

 

Called up share capital

203

203

Share premium reserve

647,722

647,722

Profit and loss account

(658,322)

(619,573)

Total equity

 

(10,397)

28,352

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Balance Sheet as at 30 September 2023

For the financial period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 Board on 31 October 2024 and signed on its behalf by:
 

.........................................
V Pataia
Director

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 September 2023

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 20 Newcourt Barton
Clyst Road
Topsham, Exeter
Devon
EX3 0DG

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.

Prior period errors

The balance of closing stock reported at the year-end 31 October 2022 was overstated by £10,743.
 

Going concern

The directors have acknowledged the negative reserves and have pledged to continue to support the company so it can meet its obligations as they arise. Therefore the accounts 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.

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 September 2023

Tax

The tax expense for the period comprises current 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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

10% Straightline

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 September 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1 (2022 - 1).

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 September 2023

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

842

842

At 30 September 2023

842

842

Amortisation

Amortisation charge

84

84

At 30 September 2023

84

84

Carrying amount

At 30 September 2023

758

758

5

Stocks

2023
£

(As restated)

2022
£

Other stocks

24,089

29,646

6

Debtors

2023
£

2022
£

Other debtors

-

36,859

Total current trade and other debtors

-

36,859

 

Tribal Sports Nutrition Limited
(Registration number: 08249901)

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 September 2023

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

4,299

11,518

Trade creditors

 

12,112

4,073

Taxation and social security

 

3,594

4,174

Other creditors

 

12,851

4,501

Accrued expenses

 

950

11,830

 

33,806

36,096

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,438

2,084

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

864

864

Bank overdrafts

3,435

10,654

4,299

11,518

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,438

2,084