REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st July 2024 |
for |
Sport=Thought Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 were approved by the director and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
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. |