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Registration number: 11827151

N41 Sport & Performance Psychology Services Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

N41 Sport & Performance Psychology Services Ltd

Contents

Profit and Loss Account and Statement of Retained Earnings

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

N41 Sport & Performance Psychology Services Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

 

84,438

66,441

Administrative expenses

 

(54,123)

(36,946)

Operating profit

 

30,315

29,495

Profit before tax

30,315

29,495

Taxation

 

(5,832)

(6,056)

Profit for the financial year

 

24,483

23,439

Retained earnings brought forward

 

1,071

1,632

Dividends paid

 

(24,500)

(24,000)

Retained earnings carried forward

 

1,054

1,071

 

N41 Sport & Performance Psychology Services Ltd

(Registration number: 11827151)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,671

6,621

Current assets

 

Debtors

5

1,298

2,502

Cash at bank and in hand

 

16,412

34,886

 

17,710

37,388

Creditors: Amounts falling due within one year

6

(23,931)

(41,199)

Net current liabilities

 

(6,221)

(3,811)

Total assets less current liabilities

 

3,450

2,810

Provisions for liabilities

(2,386)

(1,729)

Net assets

 

1,064

1,081

Capital and reserves

 

Called up share capital

10

10

Retained earnings

1,054

1,071

Shareholders' funds

 

1,064

1,081

For the financial year ending 29 February 2024 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 year 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

 

N41 Sport & Performance Psychology Services Ltd

(Registration number: 11827151)
Balance Sheet as at 29 February 2024

.........................................
Mr Jamie Benjamin Barker
Director

 

N41 Sport & Performance Psychology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Goodall Close
Stone
Staffordshire
ST15 0WF
England

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

 

N41 Sport & Performance Psychology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current and deferred 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 corporation 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures fittings & office equipment

10% reducing balance

Training equipment

10% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

N41 Sport & Performance Psychology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

7,754

1,653

9,407

Additions

5,072

-

5,072

At 29 February 2024

12,826

1,653

14,479

Depreciation

At 1 March 2023

2,476

310

2,786

Charge for the year

1,887

135

2,022

At 29 February 2024

4,363

445

4,808

Carrying amount

At 29 February 2024

8,463

1,208

9,671

At 28 February 2023

5,278

1,343

6,621

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,200

2,502

Prepayments

98

-

 

1,298

2,502

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,920

3,090

Taxation and social security

5,132

5,167

Other creditors

16,879

32,942

23,931

41,199