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REGISTERED NUMBER: 07200545 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Sportec Embroidery & Printing Limited

Sportec Embroidery & Printing Limited (Registered number: 07200545)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sportec Embroidery & Printing Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S J Martin





REGISTERED OFFICE: 22 Harvard Jones Close
Neath
SA11 2HR





REGISTERED NUMBER: 07200545 (England and Wales)





ACCOUNTANTS: Cambrian & Co Ltd
13A Victoria Gardens
Neath
West Glamorgan
SA11 3AY

Sportec Embroidery & Printing Limited (Registered number: 07200545)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,725 34,357

CURRENT ASSETS
Stocks 29,500 30,753
Debtors 5 18,147 32,618
Cash at bank and in hand 260,956 195,535
308,603 258,906
CREDITORS
Amounts falling due within one year 6 109,945 86,304
NET CURRENT ASSETS 198,658 172,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

238,383

206,959

PROVISIONS FOR LIABILITIES 9,931 8,589
NET ASSETS 228,452 198,370

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7 228,451 198,369
228,452 198,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Sportec Embroidery & Printing Limited (Registered number: 07200545)

Balance Sheet - continued
31 March 2024


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 17 December 2024 and were signed by:





S J Martin - Director


Sportec Embroidery & Printing Limited (Registered number: 07200545)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Sportec Embroidery & Printing 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Sportec Embroidery & Printing Limited (Registered number: 07200545)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 127,869
Additions 18,202
At 31 March 2024 146,071
DEPRECIATION
At 1 April 2023 93,512
Charge for year 12,834
At 31 March 2024 106,346
NET BOOK VALUE
At 31 March 2024 39,725
At 31 March 2023 34,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 11,672 25,823
Other debtors 6,475 6,795
18,147 32,618

Sportec Embroidery & Printing Limited (Registered number: 07200545)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 16,218 -
Trade creditors 63,410 45,044
Tax 15,314 21,516
VAT 7,022 3,404
Other creditors 4,023 13,799
Directors' current accounts 1,658 241
Accrued expenses 2,300 2,300
109,945 86,304

7. RESERVES
Retained
earnings
£   

At 1 April 2023 198,369
Profit for the year 60,082
Dividends (30,000 )
At 31 March 2024 228,451

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan account with the company, the balance of which is separately disclosed in the notes to these accounts. No interest is charged on the loan, which is repayable on demand.Any amounts overdrawn are repaid within nine months of the year end.

9. ULTIMATE CONTROLLING PARTY

The controlling party is S J Martin.