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Company registration number: 08503241
Pitch Doctor LTD
Trading as Pitch Doctor LTD
Unaudited abridged financial statements
30 April 2024
Pitch Doctor LTD
Contents
Director's report
Abridged statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Pitch Doctor LTD
Director's report
Year ended 30 April 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2024.
Director
The director who served the company during the year was as follows:
Mr Henry Playfoot
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 January 2025 and signed on behalf of the board by:
Mr Henry Playfoot
Director
Pitch Doctor LTD
Abridged statement of comprehensive income
Year ended 30 April 2024
2024 2023
Note £ £
Gross profit 517,693 403,311
Administrative expenses ( 383,467) ( 361,117)
_______ _______
Operating profit 134,226 42,194
_______ _______
Profit before taxation 5 134,226 42,194
Tax on profit ( 35,477) ( 8,634)
_______ _______
Profit for the financial year and total comprehensive income 98,749 33,560
_______ _______
All the activities of the company are from continuing operations.
Company registration number: 08503241
Pitch Doctor LTD
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 18,085 6,552
_______ _______
18,085 6,552
Current assets
Debtors 7 69,928 59,666
Cash at bank and in hand 156,140 61,755
_______ _______
226,068 121,421
Creditors: amounts falling due
within one year 8 ( 72,899) ( 27,768)
_______ _______
Net current assets 153,169 93,653
_______ _______
Total assets less current liabilities 171,254 100,205
_______ _______
Net assets 171,254 100,205
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 171,253 100,204
_______ _______
Shareholders funds 171,254 100,205
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
All of the members have consented to the preparation of the abridged statement of comprehensive income for the current year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
Mr Henry Playfoot
Director
Pitch Doctor LTD
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2022 1 80,986 80,987
Profit for the year 33,560 33,560
_______ _______ _______
Total comprehensive income for the year - 33,560 33,560
Dividends paid and payable ( 14,342) ( 14,342)
_______ _______ _______
Total investments by and distributions to owners - ( 14,342) ( 14,342)
_______ _______ _______
At 30 April 2023 and 1 May 2023 1 100,204 100,205
Profit for the year 98,749 98,749
_______ _______ _______
Total comprehensive income for the year - 98,749 98,749
Dividends paid and payable ( 27,700) ( 27,700)
_______ _______ _______
Total investments by and distributions to owners - ( 27,700) ( 27,700)
_______ _______ _______
At 30 April 2024 1 171,253 171,254
_______ _______ _______
Pitch Doctor LTD
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 8 Berwick Street, London, W1F 0PH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 4,178 1,186
_______ _______
6. Tangible assets
Long leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 May 2023 - 12,260 12,260
Additions 14,645 1,067 15,712
_______ _______ _______
At 30 April 2024 14,645 13,327 27,972
_______ _______ _______
Depreciation
At 1 May 2023 - 5,709 5,709
Charge for the year - 4,178 4,178
_______ _______ _______
At 30 April 2024 - 9,887 9,887
_______ _______ _______
Carrying amount
At 30 April 2024 14,645 3,440 18,085
_______ _______ _______
At 30 April 2023 - 6,551 6,551
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 60,000 59,666
Other debtors 9,928 -
_______ _______
69,928 59,666
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 4,345 3,251
Corporation tax 35,477 8,634
Social security and other taxes 32,802 14,828
Other creditors 275 1,055
_______ _______
72,899 27,768
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Henry Playfoot - 9,928 9,928
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Henry Playfoot - - -
_______ _______ _______
During the financial year, Pitch Doctor Ltd provided a loan to the director, Henry Playfoot, amounting to £9,928.21. The loan accrues interest at a rate of 2.25% per annum, in line with HMRC’s official rate of interest. The loan remains outstanding as of the reporting date and is subject to the usual terms and conditions applicable to director loans.