Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31Tennis, recreational and management servicesfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-11-01true22 3287080 2023-11-01 2024-10-31 3287080 2022-11-01 2023-10-31 3287080 2024-10-31 3287080 2023-10-31 3287080 c:Director1 2023-11-01 2024-10-31 3287080 c:Director2 2023-11-01 2024-10-31 3287080 d:CurrentFinancialInstruments 2024-10-31 3287080 d:CurrentFinancialInstruments 2023-10-31 3287080 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 3287080 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 3287080 d:ShareCapital 2024-10-31 3287080 d:ShareCapital 2023-10-31 3287080 d:RetainedEarningsAccumulatedLosses 2024-10-31 3287080 d:RetainedEarningsAccumulatedLosses 2023-10-31 3287080 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-10-31 3287080 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-10-31 3287080 c:FRS102 2023-11-01 2024-10-31 3287080 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 3287080 c:AbridgedAccounts 2023-11-01 2024-10-31 3287080 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 3287080 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 3287080









SERVICE LINE MANAGEMENT LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024


 
SERVICE LINE MANAGEMENT LIMITED
REGISTERED NUMBER:3287080

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

  

Current assets
  

Cash at bank and in hand
 4 
2,502
1,584

  
2,502
1,584

Creditors: amounts falling due within one year
 5 
(132,310)
(98,191)

Net current liabilities
  
 
 
(129,808)
 
 
(96,607)

Total assets less current liabilities
  
(129,808)
(96,607)

Net liabilities
  
(129,808)
(96,607)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(129,908)
(96,707)

Shareholders' funds
  
(129,808)
(96,607)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.




Mr R C G North
Mrs K E North
Director
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


 
SERVICE LINE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.  
The Company’s principal activity continues to be that of tennis, recreational and management services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and rebates. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2


 
SERVICE LINE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The
Page 3


 
SERVICE LINE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).


4.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,502
1,584

2,502
1,584


Page 4


 
SERVICE LINE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
130,206
96,198

Accruals and deferred income
2,104
1,993

132,310
98,191



6.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
2,502
1,584




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


7.


Transactions with directors

Included in other creditors due within one year is a loan from the directors, Mr R C G North and Mrs K E North amounting to £(130,206) [2023 - £(96,198)]. 


8.


Controlling party

The Company was controlled throughout the current and previous period by its directors, Mr R C G North and Mrs K E North, by virtue of the fact that between them they own all of the company's ordinary issued share capital. 

 
Page 5