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REGISTERED NUMBER: 08632385 (England and Wales)















Financial Statements for the Year Ended 31st July 2024

for

Sport=Thought Limited

Sport=Thought Limited (Registered number: 08632385)






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=Thought Limited

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: 08632385 (England and Wales)





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

Sport=Thought Limited (Registered number: 08632385)

Balance Sheet
31st July 2024

2024 2023
Notes £ £
CURRENT ASSETS
Debtors 4 14,575 19,465
Cash at bank 181 204
14,756 19,669
CREDITORS
Amounts falling due within one year 5 (11,937 ) (15,509 )
NET CURRENT ASSETS 2,819 4,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,819

4,160

CREDITORS
Amounts falling due after more than one year 6 (2,500 ) (4,000 )
NET ASSETS 319 160

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 318 159
319 160

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 profit or loss 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=Thought Limited (Registered number: 08632385)

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

1. STATUTORY INFORMATION

Sport=Thought Limited is a private company, limited by shares , 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.

There are no transitional adjustments, accordingly the comparative figures have not been restated and no need to disclose a reconciliation of equity in these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Research expenditure is written off as incurred. Development expenditure is also written off, except where the company is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised over the period during which the group is expected to benefit.

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

Government grants
Capital based government grants are included within 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.

3. EMPLOYEES AND DIRECTORS

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

Sport=Thought Limited (Registered number: 08632385)

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by participating interests 4,849 19,465
Other debtors 9,726 -
14,575 19,465

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 1,500 1,500
Taxation and social security 10,349 13,921
Other creditors 88 88
11,937 15,509

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 2,500 4,000

7. RELATED PARTY DISCLOSURES

Sport and Thought, Football as Therapy

The company sells, on normal commercial terms, management services to Sport and Thought, Football as Therapy, a company registered in England number 8739355, of which D Smyth is a director.

The value of such sales during the financial period ended 31st July 2024 was £44,000 (2023: £54,000). The total balance due from Sport and Thought, Football as Therapy at the end of the period was £4,849 (due from 2023: £19,465).


D Smyth

An interim dividend of £34,000 (2023: £44,500) was paid during the year.

At the year end and included within other debtors is an amount from the director, D Smyth, amounting to £9,726 (2023: Nil).

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Smyth, who owns and controls 100% of the issued ordinary share capital of the company.