Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 03989689 Mr Luke Hurle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03989689 2023-05-31 03989689 2024-05-31 03989689 2023-06-01 2024-05-31 03989689 frs-core:CurrentFinancialInstruments 2024-05-31 03989689 frs-core:Non-currentFinancialInstruments 2024-05-31 03989689 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 03989689 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 03989689 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 03989689 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 03989689 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03989689 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 03989689 frs-core:MotorVehicles 2024-05-31 03989689 frs-core:MotorVehicles 2023-06-01 2024-05-31 03989689 frs-core:MotorVehicles 2023-05-31 03989689 frs-core:PlantMachinery 2024-05-31 03989689 frs-core:PlantMachinery 2023-06-01 2024-05-31 03989689 frs-core:PlantMachinery 2023-05-31 03989689 frs-core:ShareCapital 2024-05-31 03989689 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 03989689 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03989689 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 03989689 frs-bus:SmallEntities 2023-06-01 2024-05-31 03989689 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03989689 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03989689 frs-bus:Director1 2023-06-01 2024-05-31 03989689 frs-countries:EnglandWales 2023-06-01 2024-05-31 03989689 2022-05-31 03989689 2023-05-31 03989689 2022-06-01 2023-05-31 03989689 frs-core:CurrentFinancialInstruments 2023-05-31 03989689 frs-core:Non-currentFinancialInstruments 2023-05-31 03989689 frs-core:ShareCapital 2023-05-31 03989689 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 03989689
Sports Fever Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03989689
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 269,889 232,365
269,889 232,365
CURRENT ASSETS
Stocks 5 140,000 17,701
Debtors 6 62,348 171,347
Cash at bank and in hand 2,300 88,275
204,648 277,323
Creditors: Amounts Falling Due Within One Year 7 (197,710 ) (286,536 )
NET CURRENT ASSETS (LIABILITIES) 6,938 (9,213 )
TOTAL ASSETS LESS CURRENT LIABILITIES 276,827 223,152
Creditors: Amounts Falling Due After More Than One Year 8 (117,819 ) (80,119 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,011 ) (23,991 )
NET ASSETS 132,997 119,042
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account 132,797 118,842
SHAREHOLDERS' FUNDS 132,997 119,042
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Luke Hurle
Director
20 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sports Fever Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03989689 . The registered office is Units 9-11 Millfield Business Park, Banbury Lane, Pattishall, Northamptonshire, NN12 8FB.
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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any 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:
Freehold 2% on cost
Improvements to property 20% on reducing balance
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Land & Property
Freehold Improvements to property Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost or Valuation
As at 1 June 2023 170,500 72,770 126,770 54,640 424,680
Additions - - 279 94,142 94,421
Disposals - (1,040 ) - (31,750 ) (32,790 )
As at 31 May 2024 170,500 71,730 127,049 117,032 486,311
Depreciation
As at 1 June 2023 34,100 55,324 77,278 25,613 192,315
Provided during the period 3,410 3,985 16,811 12,010 36,216
Disposals - - - (11,410 ) (11,410 )
On revaluations - (699 ) - - (699 )
As at 31 May 2024 37,510 58,610 94,089 26,213 216,422
Net Book Value
As at 31 May 2024 132,990 13,120 32,960 90,819 269,889
As at 1 June 2023 136,400 17,446 49,492 29,027 232,365
5. Stocks
2024 2023
£ £
Materials 140,000 17,701
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 36,576 147,327
Other debtors 25,772 24,020
62,348 171,347
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 66,309 73,679
Bank loans and overdrafts 11,666 9,114
Other loans 8,002 2,073
Other creditors 72,064 76,388
Taxation and social security 39,669 125,282
197,710 286,536
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 65,013 80,119
Other loans 52,806 -
117,819 80,119
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 5