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REGISTERED NUMBER: 06215457 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

TT SPORTS AND PRESTIGE LIMITED

TT SPORTS AND PRESTIGE LIMITED (REGISTERED NUMBER: 06215457)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TT SPORTS AND PRESTIGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







Directors: R Szabo
L Read





Secretary: Ms V A Szabo





Registered office: 10 Stadium Business Court, Millennium Way
Pride Park
Derby
DE24 8HP





Registered number: 06215457 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

TT SPORTS AND PRESTIGE LIMITED (REGISTERED NUMBER: 06215457)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 66,480 88,018

Current assets
Stocks 898,024 1,397,349
Debtors 5 489,027 477,456
Cash at bank 610,062 211,833
1,997,113 2,086,638
Creditors
Amounts falling due within one year 6 (572,497 ) (693,245 )
Net current assets 1,424,616 1,393,393
Total assets less current liabilities 1,491,096 1,481,411

Provisions for liabilities (2,642 ) (786 )
Net assets 1,488,454 1,480,625

Capital and reserves
Called up share capital 100 100
Retained earnings 1,488,354 1,480,525
Shareholders' funds 1,488,454 1,480,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





R Szabo - Director


TT SPORTS AND PRESTIGE LIMITED (REGISTERED NUMBER: 06215457)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Tt Sports And Prestige Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Fixtures and fittings - 25% on reducing balance
Equipment - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 year 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.

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.

Government grants
Income is recognised so as to match with the related expenses. Where grants are received in advance of the related expenses, they are recognised in accruals and deferred income on the balance sheet. Grants are recognised in the profit and loss account on recognition of certain milestones being achieved.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

TT SPORTS AND PRESTIGE LIMITED (REGISTERED NUMBER: 06215457)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings Equipment Totals
£ £ £ £ £
Cost
At 1 March 2023 197,447 3,808 67,581 17,183 286,019
Additions - - - 1,728 1,728
At 29 February 2024 197,447 3,808 67,581 18,911 287,747
Depreciation
At 1 March 2023 121,790 1,411 62,147 12,653 198,001
Charge for year 19,745 599 1,358 1,564 23,266
At 29 February 2024 141,535 2,010 63,505 14,217 221,267
Net book value
At 29 February 2024 55,912 1,798 4,076 4,694 66,480
At 28 February 2023 75,657 2,397 5,434 4,530 88,018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 25,498 57,750
Other debtors 82,285 82,886
Directors' loan account 373,925 328,489
Prepayments and accrued income 7,319 8,331
489,027 477,456

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 27,890 41,203
Tax 37,664 61,765
Social security and other taxes 5,483 8,849
VAT 15,873 25,712
Other creditors 483,137 553,266
Accruals and deferred income 2,450 2,450
572,497 693,245

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£ £
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 89,378 81,245
Amounts advanced 121,734 114,208
Amounts repaid (99,096 ) (106,075 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 112,016 89,378

TT SPORTS AND PRESTIGE LIMITED (REGISTERED NUMBER: 06215457)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

**UNKNOWN DIRECTOR 2**
Balance outstanding at start of year 239,361 (256 )
Amounts advanced 22,548 239,617
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 261,909 239,361

The overdrawn Director Loan for Mr R Szabo was repaid in full within nine months of the period end. Interest was charged at the official rate on the overdrawn balances.

8. RELATED PARTY DISCLOSURES

A company under the control of one of the directors has provided a loan for working capital. The total amount outstanding at the year end was £482,194 (2023 £474,121).