Registered number
07040372
Action Indoor Sports Limited
Filleted Accounts
30 September 2024
Action Indoor Sports Limited
Registered number: 07040372
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 25,126 33,501
Tangible assets 4 12,473 253
37,599 33,754
Current assets
Debtors 5 21,327 149,501
Cash at bank and in hand 8,635 34,222
29,962 183,723
Creditors: amounts falling due within one year 6 (33,845) (861)
Net current (liabilities)/assets (3,883) 182,862
Net assets 33,716 216,616
Capital and reserves
Called up share capital 115 115
Share premium 213,888 233,888
Profit and loss account (180,287) (17,387)
Shareholders' funds 33,716 216,616
The director is 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 director acknowledges his 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.
The company has two outstanding charges with National Westminster Bank PLC as at 30 September 2024.
Duncan Peter Norris
Director
Approved by the board on 26 March 2025
Action Indoor Sports Limited
Notes to the Accounts
for the year ended 30 September 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 83,754
At 30 September 2024 83,754
Amortisation
At 1 October 2023 50,253
Provided during the year 8,375
At 30 September 2024 58,628
Net book value
At 30 September 2024 25,126
At 30 September 2023 33,501
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 316
Additions 15,338
At 30 September 2024 15,654
Depreciation
At 1 October 2023 63
Charge for the year 3,118
At 30 September 2024 3,181
Net book value
At 30 September 2024 12,473
At 30 September 2023 253
5 Debtors 2024 2023
£ £
Trade debtors 15,400 5,130
Other debtors 5,927 144,371
21,327 149,501
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,000 -
Taxation and social security costs - 861
Other creditors 27,845 -
33,845 861
7 Related party transactions 2023 2022
£ £
Action Indoor Sports Birmingham CIC
Related directors and shareholders
Amounts paid to related party shown as management fees - 144,012
8 Controlling party
The ultimate controlling party is Chandra Jha, who owns 45% of the company's shareholding.
9 Other information
Action Indoor Sports Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cherry Tree Cottage
Whittington Hurst
Lichfield
WS13 8QW
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