Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Martin John Callan 27/02/2002 Susan Jane Callan 27/02/2002 Graeme Allan Smith 27/02/2002 Pauline Smith 27/02/2002 28 November 2024 The principal activity of the Company during the financial year was the provision of indoor soccer and padel facilities. SC223884 2024-03-31 SC223884 bus:Director1 2024-03-31 SC223884 bus:Director2 2024-03-31 SC223884 bus:Director3 2024-03-31 SC223884 bus:Director4 2024-03-31 SC223884 2023-03-31 SC223884 core:CurrentFinancialInstruments 2024-03-31 SC223884 core:CurrentFinancialInstruments 2023-03-31 SC223884 core:Non-currentFinancialInstruments 2024-03-31 SC223884 core:Non-currentFinancialInstruments 2023-03-31 SC223884 core:ShareCapital 2024-03-31 SC223884 core:ShareCapital 2023-03-31 SC223884 core:SharePremium 2024-03-31 SC223884 core:SharePremium 2023-03-31 SC223884 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC223884 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC223884 core:LandBuildings 2023-03-31 SC223884 core:PlantMachinery 2023-03-31 SC223884 core:LandBuildings 2024-03-31 SC223884 core:PlantMachinery 2024-03-31 SC223884 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-03-31 SC223884 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-03-31 SC223884 bus:OrdinaryShareClass1 2024-03-31 SC223884 2023-04-01 2024-03-31 SC223884 bus:FilletedAccounts 2023-04-01 2024-03-31 SC223884 bus:SmallEntities 2023-04-01 2024-03-31 SC223884 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC223884 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC223884 bus:Director1 2023-04-01 2024-03-31 SC223884 bus:Director2 2023-04-01 2024-03-31 SC223884 bus:Director3 2023-04-01 2024-03-31 SC223884 bus:Director4 2023-04-01 2024-03-31 SC223884 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 SC223884 core:PlantMachinery core:BottomRangeValue 2023-04-01 2024-03-31 SC223884 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 SC223884 2022-04-01 2023-03-31 SC223884 core:LandBuildings 2023-04-01 2024-03-31 SC223884 core:PlantMachinery 2023-04-01 2024-03-31 SC223884 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 SC223884 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 SC223884 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC223884 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC223884 (Scotland)

NORTH EAST INDOOR SOCCER LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

NORTH EAST INDOOR SOCCER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

NORTH EAST INDOOR SOCCER LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
NORTH EAST INDOOR SOCCER LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,219,161 1,183,310
1,219,161 1,183,310
Current assets
Stocks 250 250
Debtors 4 43,582 49,851
Cash at bank and in hand 56,924 104,714
100,756 154,815
Creditors: amounts falling due within one year 5 ( 787,059) ( 221,308)
Net current liabilities (686,303) (66,493)
Total assets less current liabilities 532,858 1,116,817
Creditors: amounts falling due after more than one year 6 ( 13,950) ( 624,112)
Net assets 518,908 492,705
Capital and reserves
Called-up share capital 7 4 4
Share premium account 49,996 49,996
Profit and loss account 468,908 442,705
Total shareholders' funds 518,908 492,705

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of North East Indoor Soccer Limited (registered number: SC223884) were approved and authorised for issue by the Board of Directors on 28 November 2024. They were signed on its behalf by:

Pauline Smith
Director
NORTH EAST INDOOR SOCCER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
NORTH EAST INDOOR SOCCER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

North East Indoor Soccer Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Amicable House, 252 Union Street, Aberdeen, AB10 1TN, United Kingdom. The principal place of business is 50 Broadfold Road, Bridge of Don, Aberdeen, AB23 8EE.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 5 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 April 2023 1,715,551 446,711 2,162,262
Additions 0 81,196 81,196
Disposals 0 ( 20,591) ( 20,591)
At 31 March 2024 1,715,551 507,316 2,222,867
Accumulated depreciation
At 01 April 2023 586,648 392,304 978,952
Charge for the financial year 29,311 16,034 45,345
Disposals 0 ( 20,591) ( 20,591)
At 31 March 2024 615,959 387,747 1,003,706
Net book value
At 31 March 2024 1,099,592 119,569 1,219,161
At 31 March 2023 1,128,903 54,407 1,183,310

4. Debtors

2024 2023
£ £
Trade debtors 28,786 20,574
Other debtors 14,796 29,277
43,582 49,851

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 610,162 9,910
Trade creditors 5,368 1,342
Amounts owed to related parties 130,000 160,000
Taxation and social security 15,477 22,136
Other creditors 26,052 27,920
787,059 221,308

The bank loan of £600,000 is secured by a floating charge over all of the assets of the company.

The balance of £10,162 is in relation to the Bounce Back Loan and security is provided by the government.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,950 624,112

In the current year, the total within bank loans is in relation to the Bounce Back Loan. Security is provided by the government.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
4 Ordinary shares of £ 1.00 each 4 4

8. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Tangible fixed assets 0 69,643

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to directors 130,000 160,000

This loan is interest free and has no fixed terms of repayment.