Company registration number SC745550 (Scotland)
CLUB CHAMPION SCOTLAND LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CLUB CHAMPION SCOTLAND LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CLUB CHAMPION SCOTLAND LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
55,311
Current assets
Debtors
4
21,887
Cash at bank and in hand
81,931
103,818
Creditors: amounts falling due within one year
5
(295,260)
Net current liabilities
(191,442)
Net liabilities
(136,131)
Capital and reserves
Called up share capital
1,000
Profit and loss reserves
(137,131)
Total equity
(136,131)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 February 2025 and are signed on its behalf by:
Mr J Reepmeyer
Director
Company Registration No. SC745550
CLUB CHAMPION SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Club Champion Scotland Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit 302, Hillington West 200, 14 Buccleuch Avenue, Hillington Park, Glasgow, Lanarkshire, United Kingdom, G52 4NR.
1.1
Reporting period
The financial statements that have been presented are for a period of 14 months and 3 days as this is the company's first accounting period.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
At the year end the company had net liabilities of £136,131. The director considers that the company has sufficient resources to meet all obligations as and when they fall due. The parent entity has confirmed that they will provide this support and also not call in any of the loans due from the company for a period of at least 12 months following the audit report date. These financial statements are therefore prepared on a going concern basis.true
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
10 years straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
CLUB CHAMPION SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
3
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 27 September 2022
Additions
21,403
29,183
19,708
1,492
71,786
At 31 December 2023
21,403
29,183
19,708
1,492
71,786
Depreciation and impairment
At 27 September 2022
Depreciation charged in the period
2,113
7,296
6,569
497
16,475
At 31 December 2023
2,113
7,296
6,569
497
16,475
Carrying amount
At 31 December 2023
19,290
21,887
13,139
995
55,311
4
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
69
Other debtors
21,818
21,887
CLUB CHAMPION SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
£
Taxation and social security
8,362
Other creditors
286,898
295,260
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
David Cary LLB FCA
Statutory Auditor:
Azets
7
Related party transactions
Related party transactions
At the balance sheet date, £252,218 was owed to companies under common ownership, this is included within other creditors.