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Registered number: 07268873
Inside Out Tennis Ltd
Financial Statements
For The Year Ended 31 March 2024
Cound & Co LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07268873
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,680 3,574
2,680 3,574
CURRENT ASSETS
Debtors 5 3,646 146
Cash at bank and in hand 16,326 25,958
19,972 26,104
Creditors: Amounts Falling Due Within One Year 6 (15,014 ) (18,586 )
NET CURRENT ASSETS (LIABILITIES) 4,958 7,518
TOTAL ASSETS LESS CURRENT LIABILITIES 7,638 11,092
PROVISIONS FOR LIABILITIES
Deferred Taxation (510 ) (679 )
NET ASSETS 7,128 10,413
CAPITAL AND RESERVES
Called up share capital 7 125 125
Capital redemption reserve 125 125
Profit and Loss Account 6,878 10,163
SHAREHOLDERS' FUNDS 7,128 10,413
Page 1
Page 2
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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M P Whait
Director
31st December 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Inside Out Tennis Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07268873 . The registered office is 1 Princes Court, Royal Way, Loughborough, Leicestershire, LE11 5XR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% of net book value per annum
2.4. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered a net liability may crystallise.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 8)
5 8
Page 3
Page 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 5,061
As at 31 March 2024 5,061
Depreciation
As at 1 April 2023 1,487
Provided during the period 894
As at 31 March 2024 2,381
Net Book Value
As at 31 March 2024 2,680
As at 1 April 2023 3,574
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,500 -
Employee loan 146 146
3,646 146
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 8,016 10,617
Corporation tax - 20
Other taxes and social security 238 251
Accruals and deferred income 5,208 7,058
Directors' loan accounts 1,552 640
15,014 18,586
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 125 125
Page 4