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Registration number: 07902674

Childerley Sporting Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Childerley Sporting Ltd

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Childerley Sporting Ltd

Company Information

Director

Mr Paul Childerley

Registered office

The Shooting Lodge Beckerings Park
Lidlington
Bedford
Bedfordshire
MK43 0RA

 

Childerley Sporting Ltd

Director's Report for the Year Ended 29 February 2024

The director presents his report and the financial statements for the year ended 29 February 2024.

Director of the company

The director who held office during the year was as follows:

Mr Paul Childerley

Principal activity

The principal activity of the company is game shooting and deer stalking

Small companies provision statement

This report has 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.

Approved by the director on 14 July 2024 and signed on its behalf by:

.........................................
Mr Paul Childerley
Director

 

Childerley Sporting Ltd

(Registration number: 07902674)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,255

34,426

Current assets

 

Debtors

5

9,394

8,028

Cash at bank and in hand

 

57,700

44,121

 

67,094

52,149

Creditors: Amounts falling due within one year

6

(34,327)

(24,675)

Net current assets

 

32,767

27,474

Total assets less current liabilities

 

62,022

61,900

Provisions for liabilities

(5,558)

(6,541)

Net assets

 

56,464

55,359

Capital and reserves

 

Called up share capital

2

2

Retained earnings

56,462

55,357

Shareholders' funds

 

56,464

55,359

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 July 2024
 

.........................................
Mr Paul Childerley
Director

 

Childerley Sporting 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 United Kingdom.

The address of its registered office is:
The Shooting Lodge Beckerings Park
Lidlington
Bedford
Bedfordshire
MK43 0RA
England

These financial statements were authorised for issue by the director on 14 July 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises of the received or receivable for the 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.

 

Childerley Sporting Ltd

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

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

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 income 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

Motor Vehicles

20% Straight Line

Shooting Equipment

25% Straight Line

Fixtures and Fittings

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

 

Childerley Sporting Ltd

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

Trade creditors

Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Childerley Sporting Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

4,815

67,333

8,489

80,637

Additions

178

7,950

500

8,628

At 29 February 2024

4,993

75,283

8,989

89,265

Depreciation

At 1 March 2023

3,423

36,605

6,183

46,211

Charge for the year

327

12,373

1,099

13,799

At 29 February 2024

3,750

48,978

7,282

60,010

Carrying amount

At 29 February 2024

1,243

26,305

1,707

29,255

At 28 February 2023

1,392

30,728

2,306

34,426

5

Debtors

Current

2024
£

2023
£

Trade debtors

6,883

4,226

Prepayments

2,511

3,802

 

9,394

8,028

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

2,001

4,192

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

15,000

-

Taxation and social security

 

14,061

5,076

Accruals and deferred income

 

1,260

1,200

Other creditors

 

2,005

14,207

 

34,327

24,675

 

Childerley Sporting Ltd

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

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

8

Related party transactions

At the balance date the company owed £2,005 (2023:£14,207) to the sole dircetor and shareholder, P Childerley. There is no interest chrarged on this loan, and there are no terms relating to repayment of capital.

9

Parent and ultimate parent undertaking

The ultimate controlling party is Paul Childerley by virtue of his majority shareholding.