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Registered number: 13287669










WRT SPORTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WRT SPORTS LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 6


 
WRT SPORTS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WRT SPORTS LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WRT Sports Limited for the year ended 31 March 2024 which comprise  the Balance sheet 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 https://www.icaew.com/regulation.

This report is made solely to the director of WRT Sports Limited in accordance with the terms of our engagement letter dated 25 April 2022Our work has been undertaken solely to prepare for your approval the financial statements of WRT Sports Limited and state those matters that we have agreed to state to the director of WRT Sports Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WRT Sports Limited and its director for our work or for this report. 

It is your duty to ensure that WRT Sports Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WRT Sports Limited. You consider that WRT Sports Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of WRT Sports Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
26 November 2024
Page 1

 
WRT SPORTS LIMITED
REGISTERED NUMBER: 13287669

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
708

  
-
708

Current assets
  

Debtors: amounts falling due within one year
 5 
3,966
26,470

Cash at bank and in hand
  
561
24,585

  
4,527
51,055

Creditors: amounts falling due within one year
 6 
(2,227)
(44,832)

Net current assets
  
 
 
2,300
 
 
6,223

Total assets less current liabilities
  
2,300
6,931

  

Net assets
  
2,300
6,931


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
2,298
6,929

  
2,300
6,931


Page 2

 
WRT SPORTS LIMITED
REGISTERED NUMBER: 13287669
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 November 2024.




Hugh Downie
Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
WRT SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales. The address of its registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.
The Company's principle activity was that of Travel Agency Activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company ceased to trade on 31 March 2024.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of that of a travel agency activities. Turnover is measured as the fair value of the consideration received and recognised on an accruals basis. 
Interest income is recognised using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
WRT SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1). 


4.


Intangible assets




Website

£





At 1 April 2023
1,416


Disposals
(1,416)



At 31 March 2024

-





At 1 April 2023
708


On disposals
(708)



At 31 March 2024

-



Net book value



At 31 March 2024
-



At 31 March 2023
708



Page 5

 
WRT SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
22,725

Other Debtors
3,966
3,745

3,966
26,470



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
1,123
2,846

Accruals and deferred income
1,104
41,986

2,227
44,832



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 Ordinary Shares shares of £1.00 each
2
2



8.


Transactions with directors

The balance of the director's loan account at 1 April 2023 was £3,745 owing to the company from the director. 
During the year, the company advanced £9,811 to the director and the director introduced funds into the company of £9,590.
The balance on the director's loan account as at 31 March 2024 was £3,966 owing to the company from the director in note 5 above. No interest has been charged on overdrawn balances. 
 
Page 6