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COMPANY REGISTRATION NUMBER: 05161158
Cicada Sports Limited
Filleted Unaudited Financial Statements
30 November 2023
Cicada Sports Limited
Financial Statements
Year ended 30 November 2023
Contents
Pages
Officers and professional advisers
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3 to 4
Notes to the financial statements
5 to 6
Cicada Sports Limited
Officers and Professional Advisers
The Board of Directors
A Williams
P Oliver
Company Secretary
A Williams
Registered Office
37a Birmingham New Road
Wolverhampton
West Midlands
WV4 6BL
Accountants
Howell Davies Limited
Chartered accountants
Tudor House
37a Birmingham New Road
Wolverhampton
West Midlands
WV4 6BL
Cicada Sports Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Cicada Sports Limited
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cicada Sports Limited for the year ended 30 November 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
Howell Davies Limited Chartered accountants
Tudor House 37a Birmingham New Road Wolverhampton West Midlands WV4 6BL
20 November 2024
Cicada Sports Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed Assets
Tangible assets
5
342
404
Current Assets
Stocks
75,975
85,825
Debtors
6
12,391
12,880
Cash at bank and in hand
384
134
--------
--------
88,750
98,839
Creditors: amounts falling due within one year
7
78,477
98,388
--------
--------
Net Current Assets
10,273
451
--------
----
Total Assets Less Current Liabilities
10,615
855
Creditors: amounts falling due after more than one year
8
79,627
101,807
--------
---------
Net Liabilities
( 69,012)
( 100,952)
--------
---------
Capital and Reserves
Called up share capital
10,100
10,100
Profit and loss account
( 79,112)
( 111,052)
--------
---------
Shareholders Deficit
( 69,012)
( 100,952)
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cicada Sports Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
A Williams
Director
Company registration number: 05161158
Cicada Sports Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 37a Birmingham New Road, Wolverhampton, West Midlands, WV4 6BL.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible Assets
Tangible assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Tangible Assets
Fixtures and fittings
Total
£
£
Cost
At 1 December 2022 and 30 November 2023
6,284
6,284
-------
-------
Depreciation
At 1 December 2022
5,880
5,880
Charge for the year
62
62
-------
-------
At 30 November 2023
5,942
5,942
-------
-------
Carrying amount
At 30 November 2023
342
342
-------
-------
At 30 November 2022
404
404
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
12,391
12,880
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
21,183
22,060
Trade creditors
30,144
41,603
Other creditors
27,150
34,725
--------
--------
78,477
98,388
--------
--------
The bank overdraft is secured by personal guarantees given by the directors.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
29,792
35,208
Other creditors
49,835
66,599
--------
---------
79,627
101,807
--------
---------