Registered number
07058912
Sixty Thirty Sports Limited
Filleted Accounts
30 June 2024
Sixty Thirty Sports Limited
Registered number: 07058912
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 62
Current assets
Stocks 715,423 811,918
Debtors 4 346,828 372,516
Cash at bank and in hand 59,091 26,136
1,121,342 1,210,570
Creditors: amounts falling due within one year 5 (427,018) (596,609)
Net current assets 694,324 613,961
Total assets less current liabilities 694,324 614,023
Provisions for liabilities - (12)
Net assets 694,324 614,011
Capital and reserves
Called up share capital 500 500
Redemption Reserve 500 500
Profit and loss account 693,324 613,011
Shareholders' funds 694,324 614,011
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B T Larkin
Director
Approved by the board on 1 March 2025
Sixty Thirty Sports Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Other Operating Income
Other Operating Income consists of amounts received by the Company under the Coronavirus Job Retention Scheme.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Deferred Tax is included in Provisions for Liabilities.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going Concern
The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. They have considered the impact of the Covid 19 pandemic on the operation of the business and do not believe that this will materially impact the ability of the Company to trade profitably in the future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 114,649
At 30 June 2024 114,649
Depreciation
At 1 July 2023 114,587
Charge for the year 62
At 30 June 2024 114,649
Net book value
At 30 June 2024 -
At 30 June 2023 62
4 Debtors 2024 2023
£ £
Trade debtors 345,472 371,007
Deferred tax asset - -
Other debtors 1,356 1,509
346,828 372,516
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 336,721 351,861
Taxation and social security costs 82,460 113,100
Other creditors 7,837 131,648
427,018 596,609
6 Other information
Sixty Thirty Sports Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit D21
Chelworth Industrial Estate
Chelworth Road
Cricklade
SN6 6HE
Sixty Thirty Sports Limited 07058912 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 B T Larkin No description of principal activity 07058912 2022-07-01 2023-06-30 07058912 core:WithinOneYear 2023-06-30 07058912 core:ShareCapital 2023-06-30 07058912 core:SharePremium 2023-06-30 07058912 core:RetainedEarningsAccumulatedLosses 2023-06-30 07058912 2023-07-01 2024-06-30 07058912 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07058912 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07058912 bus:Director40 2023-07-01 2024-06-30 07058912 1 2023-07-01 2024-06-30 07058912 2 2023-07-01 2024-06-30 07058912 core:PlantMachinery 2023-07-01 2024-06-30 07058912 countries:England 2023-07-01 2024-06-30 07058912 bus:FRS102 2023-07-01 2024-06-30 07058912 bus:FilletedAccounts 2023-07-01 2024-06-30 07058912 2024-06-30 07058912 core:WithinOneYear 2024-06-30 07058912 core:ShareCapital 2024-06-30 07058912 core:SharePremium 2024-06-30 07058912 core:RetainedEarningsAccumulatedLosses 2024-06-30 07058912 core:PlantMachinery 2024-06-30 07058912 2023-06-30 07058912 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure