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Company Registration No. 7651584 (England and Wales)
Supplements for Sport Limited Unaudited accounts for the year ended 31 March 2024
Supplements for Sport Limited Unaudited accounts Contents
Page
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Supplements for Sport Limited Company Information for the year ended 31 March 2024
Director
Mr Timothy Johnstone
Company Number
7651584 (England and Wales)
Registered Office
Unit 2 Discovery Park Whisby Road Lincoln LN6 3AJ
Accountants
Kate Dodd Accounting Services 4 Warren Lane Witham St Hughs Lincoln LN6 9US
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Supplements for Sport Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
106,078 
55,713 
Current assets
Inventories
78,913 
30,333 
Debtors
4,733 
7,286 
Cash at bank and in hand
135,652 
14,926 
219,298 
52,545 
Creditors: amounts falling due within one year
(104,827)
(23,950)
Net current assets
114,471 
28,595 
Total assets less current liabilities
220,549 
84,308 
Creditors: amounts falling due after more than one year
(116,388)
(35,005)
Provisions for liabilities
Deferred tax
(20,155)
(10,586)
Net assets
84,006 
38,717 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
83,906 
38,617 
Shareholders' funds
84,006 
38,717 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 December 2024 and were signed on its behalf by
Mr Timothy Johnstone Director Company Registration No. 7651584
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Supplements for Sport Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Supplements for Sport Limited is a private company, limited by shares, registered in England and Wales, registration number 7651584. The registered office is Unit 2 Discovery Park, Whisby Road, Lincoln, LN6 3AJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
Straight line over 3 years
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Supplements for Sport Limited Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
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 accounts. 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
56,945 
31,790 
1,034 
89,769 
Additions
52,319 
51,553 
666 
104,538 
Disposals
- 
(18,509)
- 
(18,509)
At 31 March 2024
109,264 
64,834 
1,700 
175,798 
Depreciation
At 1 April 2023
25,763 
7,948 
345 
34,056 
Charge for the year
20,875 
14,222 
567 
35,664 
At 31 March 2024
46,638 
22,170 
912 
69,720 
Net book value
At 31 March 2024
62,626 
42,664 
788 
106,078 
At 31 March 2023
31,182 
23,842 
689 
55,713 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,636 
5,404 
Other debtors
3,097 
1,882 
4,733 
7,286 
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Supplements for Sport Limited Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
29,360 
9,960 
VAT
776 
2,000 
Obligations under finance leases and hire purchase contracts
13,710 
4,580 
Trade creditors
35,198 
- 
Taxes and social security
7,106 
5,254 
Other creditors
16,127 
248 
Loans from directors
- 
1,008 
Accruals
900 
900 
Deferred income
1,650 
- 
104,827 
23,950 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
93,560 
22,541 
Obligations under finance leases and hire purchase contracts
22,828 
12,464 
116,388 
35,005 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr Timothy Johnstone
Directors Loan
- 
1,215 
- 
1,215 
- 
1,215 
- 
1,215 
9
Average number of employees
During the year the average number of employees was 5 (2023: 3).
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