Company registration number 04242442 (England and Wales)
SPORTSLAND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
SPORTSLAND LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SPORTSLAND LIMITED
BALANCE SHEET
AS AT
28 APRIL 2024
28 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
53,686
68,295
Current assets
Stocks
240,899
258,163
Debtors
4
26,030
28,130
Cash at bank and in hand
39,413
18,267
306,342
304,560
Creditors: amounts falling due within one year
5
(117,527)
(118,964)
Net current assets
188,815
185,596
Total assets less current liabilities
242,501
253,891
Creditors: amounts falling due after more than one year
6
(68,459)
(86,813)
Provisions for liabilities
(13,422)
(17,074)
Net assets
160,620
150,004
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
160,520
149,904
Total equity
160,620
150,004
SPORTSLAND LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 APRIL 2024
28 April 2024
- 2 -

For the financial year ended 28 April 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 February 2025
Mr D J Moulton
Director
Company registration number 04242442 (England and Wales)
SPORTSLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024
- 3 -
1
Accounting policies
Company information

Sportsland Limited is a private company limited by shares incorporated in England and Wales. The registered office is 41 Weston Road, Meir, Stoke On Trent, Staffordshire, ST3 6AB.

1.1
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.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

1.3
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 land and buildings
20% on cost
Fixtures and fittings
15% on reducing balance
Office and shop equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks

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

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SPORTSLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
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.

1.7
Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

 

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

 

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
10
SPORTSLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 5 -
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Office and shop equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 29 April 2023 and 28 April 2024
15,808
28,773
96,747
74,608
215,936
Depreciation and impairment
At 29 April 2023
15,808
26,689
74,179
30,965
147,641
Depreciation charged in the year
-
0
313
3,385
10,911
14,609
At 28 April 2024
15,808
27,002
77,564
41,876
162,250
Carrying amount
At 28 April 2024
-
0
1,771
19,183
32,732
53,686
At 28 April 2023
-
0
2,084
22,567
43,644
68,295
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,723
12,934
Other debtors
11,307
15,196
26,030
28,130
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
11,874
12,003
Trade creditors
63,094
72,909
Taxation and social security
4,794
1,146
Other creditors
37,765
32,906
117,527
118,964

The bank overdraft and loan are secured by way of an unscheduled mortgage debenture dated 24 July 2021 incorporating a fixed and floating charge over all current and future assets of the company.

The Hire Purchase Liability is secured against the items to which it relates.

SPORTSLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
54,459
65,813
Other creditors
14,000
21,000
68,459
86,813
7
Secured debt

Included in creditors are bank loans and overdrafts totalling £5,721 (2023 - £6,001) due within one year and £2,001 (2023 - £8,001) due in more than one year, which are secured by a fixed and floating charge.

 

Included in creditors is an amount of £7,000 (2023 - £7,000) due within one year and £14,000 (2023 - £21,000) due in more than one year which are secured against the assets to which they relate.

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