Silverfin false false 29/02/2024 01/03/2023 29/02/2024 David Anthony Mcallister 24/02/2017 27 February 2025 The principal activity of the Company during the financial year was the running of boxing events. SC558741 2024-02-29 SC558741 bus:Director1 2024-02-29 SC558741 core:CurrentFinancialInstruments 2024-02-29 SC558741 core:CurrentFinancialInstruments 2023-02-28 SC558741 2023-02-28 SC558741 core:ShareCapital 2024-02-29 SC558741 core:ShareCapital 2023-02-28 SC558741 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC558741 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC558741 bus:OrdinaryShareClass1 2024-02-29 SC558741 2023-03-01 2024-02-29 SC558741 bus:FilletedAccounts 2023-03-01 2024-02-29 SC558741 bus:SmallEntities 2023-03-01 2024-02-29 SC558741 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC558741 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC558741 bus:Director1 2023-03-01 2024-02-29 SC558741 2022-03-01 2023-02-28 SC558741 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 SC558741 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC558741 (Scotland)

NORTHERN SPORTING CLUB LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

NORTHERN SPORTING CLUB LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024

Contents

NORTHERN SPORTING CLUB LTD

BALANCE SHEET

AS AT 29 FEBRUARY 2024
NORTHERN SPORTING CLUB LTD

BALANCE SHEET (continued)

AS AT 29 FEBRUARY 2024
Note 2024 2023
£ £
Current assets
Debtors 3 7,298 8,918
Cash at bank and in hand 554 0
7,852 8,918
Creditors: amounts falling due within one year 4 ( 10,115) ( 4,289)
Net current (liabilities)/assets (2,263) 4,629
Total assets less current liabilities (2,263) 4,629
Net (liabilities)/assets ( 2,263) 4,629
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 2,363 ) 4,529
Total shareholder's (deficit)/funds ( 2,263) 4,629

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Northern Sporting Club Ltd (registered number: SC558741) were approved and authorised for issue by the Director on 27 February 2025. They were signed on its behalf by:

David Anthony Mcallister
Director
NORTHERN SPORTING CLUB LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
NORTHERN SPORTING CLUB LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Northern Sporting Club Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 117 Hilton Street, Aberdeen, AB24 4QR, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less,

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2024 2023
£ £
Other debtors 7,298 8,918

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,200 1,080
Taxation and social security 0 675
Other creditors 8,915 2,534
10,115 4,289

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts Owed to Directors 7,630 1,344

This loan is interest free and has no set repayment terms.

Other related party transactions

2024 2023
£ £
Amounts owed by connected companies 7,297 8,918