REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st July 2024 |
for |
Sport and Thought, Football As Therapy |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET ASSETS |
RESERVES |
Income and expenditure account |
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 were approved by the director and authorised for issue on |
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 |
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. |
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 |
Plant and machinery etc | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st August 2023 |
and 31st July 2024 |
DEPRECIATION |
At 1st August 2023 |
and 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to participating interests | 4,849 | 19,465 |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
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. |