Acorah Software Products - Accounts Production 16.0.110 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 05901518 Mrs Tracy Minton Mr Joseph Branfoot iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05901518 2023-08-31 05901518 2024-08-31 05901518 2023-09-01 2024-08-31 05901518 frs-core:CurrentFinancialInstruments 2024-08-31 05901518 frs-core:Non-currentFinancialInstruments 2024-08-31 05901518 frs-core:ComputerEquipment 2024-08-31 05901518 frs-core:ComputerEquipment 2023-09-01 2024-08-31 05901518 frs-core:ComputerEquipment 2023-08-31 05901518 frs-core:FurnitureFittings 2024-08-31 05901518 frs-core:FurnitureFittings 2023-09-01 2024-08-31 05901518 frs-core:FurnitureFittings 2023-08-31 05901518 frs-core:MotorVehicles 2024-08-31 05901518 frs-core:MotorVehicles 2023-09-01 2024-08-31 05901518 frs-core:MotorVehicles 2023-08-31 05901518 frs-core:PlantMachinery 2024-08-31 05901518 frs-core:PlantMachinery 2023-09-01 2024-08-31 05901518 frs-core:PlantMachinery 2023-08-31 05901518 frs-core:ShareCapital 2024-08-31 05901518 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 05901518 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05901518 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 05901518 frs-bus:SmallEntities 2023-09-01 2024-08-31 05901518 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 05901518 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05901518 frs-bus:Director1 2023-09-01 2024-08-31 05901518 frs-bus:Director2 2023-09-01 2024-08-31 05901518 frs-countries:EnglandWales 2023-09-01 2024-08-31 05901518 2022-08-31 05901518 2023-08-31 05901518 2022-09-01 2023-08-31 05901518 frs-core:CurrentFinancialInstruments 2023-08-31 05901518 frs-core:Non-currentFinancialInstruments 2023-08-31 05901518 frs-core:ShareCapital 2023-08-31 05901518 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 05901518
LPT Sports Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05901518
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,663 1,111
18,663 1,111
CURRENT ASSETS
Stocks 5 119,139 148,928
Debtors 6 73,802 46,675
Cash at bank and in hand 45,519 29,851
238,460 225,454
Creditors: Amounts Falling Due Within One Year 7 (166,749 ) (123,790 )
NET CURRENT ASSETS (LIABILITIES) 71,711 101,664
TOTAL ASSETS LESS CURRENT LIABILITIES 90,374 102,775
Creditors: Amounts Falling Due After More Than One Year 8 (8,117 ) (17,500 )
NET ASSETS 82,257 85,275
CAPITAL AND RESERVES
Called up share capital 9 14 14
Profit and Loss Account 82,243 85,261
SHAREHOLDERS' FUNDS 82,257 85,275
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Tracy Minton
Director
8 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
LPT Sports Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05901518 . The registered office is Damer House, Meadow Way, Wickford, Essex, SS12 9HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes, and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.3% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 10% Straight line
Computer Equipment 33.3% Straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 8 (2023: 5)
8 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 10,395 - 44,109 7,290 61,794
Additions - 24,885 - - 24,885
As at 31 August 2024 10,395 24,885 44,109 7,290 86,679
Depreciation
As at 1 September 2023 9,284 - 44,109 7,290 60,683
Provided during the period 1,111 6,222 - - 7,333
As at 31 August 2024 10,395 6,222 44,109 7,290 68,016
Net Book Value
As at 31 August 2024 - 18,663 - - 18,663
As at 1 September 2023 1,111 - - - 1,111
5. Stocks
2024 2023
£ £
Stock 119,139 148,928
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 750 -
Other debtors 73,052 46,675
73,802 46,675
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 52,719 18,240
Bank loans and overdrafts 10,000 10,000
Other creditors 82,827 66,619
Taxation and social security 21,203 28,931
166,749 123,790
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,117 17,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 14 14
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