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REGISTERED NUMBER: 08739355 (England and Wales)















Financial Statements for the Year Ended 31st July 2024

for

Sport and Thought, Football As Therapy

Sport and Thought, Football As Therapy (Registered number: 08739355)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sport and Thought, Football As Therapy

Company Information
for the Year Ended 31st July 2024







DIRECTOR: D Smyth





SECRETARY: Best4Business Limited (Corporate)





REGISTERED OFFICE: 9 Caxton House
Broad Street
Great Cambourne
Cambridge
CB23 6JN





REGISTERED NUMBER: 08739355 (England and Wales)





ACCOUNTANTS: Best4business Accountants & Company Ltd
45 Beaufort Court
Admirals Way
London
E14 9XL

Sport and Thought, Football As Therapy (Registered number: 08739355)

Balance Sheet
31st July 2024

2024 2023
Notes £ £
CURRENT ASSETS
Debtors 5 33,544 10,655
Cash at bank 10,468 52,435
44,012 63,090
CREDITORS
Amounts falling due within one year 6 (34,401 ) (42,095 )
NET CURRENT ASSETS 9,611 20,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,611

20,995

CREDITORS
Amounts falling due after more than one year 7 (8,500 ) (15,300 )
NET ASSETS 1,111 5,695

RESERVES
Income and expenditure account 1,111 5,695
1,111 5,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 surplus or deficit 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th November 2024 and were signed by:





D Smyth - Director


Sport and Thought, Football As Therapy (Registered number: 08739355)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Sport and Thought, Football As Therapy is a private company, limited by guarantee , 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.

The financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102. The date of transition is 1 January 2015.

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.
Plant and machinery etc - 25% on cost

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

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Current taxation
Corporation tax payable is provided on taxable profits at the current rate.

Government grants
Capital based government grants are included withing accruals and deferred income in the balance sheet and credited to trading profit over the estimated useful economics lives of the assets to which they relate.

Sport and Thought, Football As Therapy (Registered number: 08739355)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

2. ACCOUNTING POLICIES - continued

Leases
Where the Company enters into a lease which entails taking substantially all the risks and rewards of the ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such lease, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element which is charged to the Income and Expenditure account, and the capital element which reduces the outstanding obligation for future instalments.

All other leases are accounted for as 'operating leases' and the rental charges are charged to the Income and Expenditure account on a straight line basis over the life of the lease.

Rents receivable on any freehold investment property under the terms of an operating lease are included in the profit and loss account on a receivable basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1st August 2023
and 31st July 2024 904
DEPRECIATION
At 1st August 2023
and 31st July 2024 904
NET BOOK VALUE
At 31st July 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 33,544 10,655

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 7,439 6,804
Amounts owed to participating interests 4,849 19,465
Taxation and social security 21,437 11,053
Other creditors 676 4,773
34,401 42,095

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 8,500 15,300

Sport and Thought, Football As Therapy (Registered number: 08739355)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

8. RELATED PARTY DISCLOSURES

The company purchases, on normal commercial terms, management services from Sport=Thought Limited, a company registered in England number 8632385, of which D Smyth is a director and majority shareholder.

The value of such purchases during the financial period ended 31st July 2024 was £44,000 (2023: £54,000). The total balance due to Sport=Thought Limited at the end of the period was £4,849 (due to 2023: £19,465).

At the year end and included within other creditors is the amount owed to the director, D Smyth, amounting to £226 (2023: £4,325).

9. LIMITED BY GUARANTEE

The company is incorporated as a company limited by guarantee having no share capital. In accordance with the Memorandum of Association, the liability of D Smyth is limited to a sum not exceeding £10, being the amount that each member undertakes to contribute to the assets of the company on the event of it being wound up.