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Registered Number: 14389618
England and Wales

 

 

 

LG SPORTS MANAGEMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Director L Garratty
Registered Number 14389618
Registered Office 9 Corbets Tey
Upminister
Essex
RM14 2AP
Accountants Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 September 2024
Principal activities
The companys principal activity during the year was the other sports activities.
Director
The director who served the company throughout the year was as follows:
L Garratty
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
L Garratty
Director

Date approved: 13 February 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 September 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Versa Tax Solutions Ltd
30 September 2024



....................................................
Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
13 February 2025
3
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors 3 100    2,500 
Cash at bank and in hand 33,915    19,918 
34,015    22,418 
Creditors: amount falling due within one year 4 (16,836)   (8,141)
Net current assets 17,179    14,277 
 
Total assets less current liabilities 17,179    14,277 
Net assets 17,179    14,277 
 

Capital and reserves
     
Called up share capital 5 200    200 
Profit and loss account 16,979    14,077 
Shareholders' funds 17,179    14,277 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 13 February 2025 and were signed by:


-------------------------------
L Garratty
Director
4
General Information
LG SPORTS MANAGEMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 14389618, registration address 9 Corbets Tey, Upminister, Essex, RM14 2AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   2,400 
Other Debtors 100    100 
100    2,500 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 11,343    3,962 
PAYE & Social Security 375   
Accrued Expenses (1)  
Directors' Current Accounts 1,811    2,804 
VAT 3,308    1,375 
16,836    8,141 

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100 Class B shares of £1.00 each 100    100 
200    200 

5