Registered number
12782397
Samantha Lloyd-Smith Athletics Ltd
Unaudited Filleted Accounts
31 July 2024
Samantha Lloyd-Smith Athletics Ltd
Registered number: 12782397
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,720 6,240
Tangible assets 4 94 126
5,814 6,366
Current assets
Debtors 5 648 891
Cash at bank and in hand 4,259 3,812
4,907 4,703
Creditors: amounts falling due within one year 6 (15,768) (14,870)
Net current liabilities (10,861) (10,167)
Net liabilities (5,047) (3,801)
Capital and reserves
Called up share capital 10 10
Profit and loss account (5,057) (3,811)
Shareholder's funds (5,047) (3,801)
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
S. Lloyd-Smith
Director
Approved by the board on 28 April 2025
Samantha Lloyd-Smith Athletics Ltd
Notes to the Accounts
for the year ended 31 July 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.
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 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 2 2
3 Intangible fixed assets £
Franchise costs:
Cost
At 1 August 2023 7,800
At 31 July 2024 7,800
Amortisation
At 1 August 2023 1,560
Provided during the year 520
At 31 July 2024 2,080
Net book value
At 31 July 2024 5,720
At 31 July 2023 6,240
Franchise costs are being written off over the expected life of 15 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 299
At 31 July 2024 299
Depreciation
At 1 August 2023 173
Charge for the year 32
At 31 July 2024 205
Net book value
At 31 July 2024 94
At 31 July 2023 126
5 Debtors 2024 2023
£ £
Deferred tax asset 597 891
Other debtors 51 -
648 891
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 293
Other creditors 15,768 14,577
15,768 14,870
7 Related party transactions
The company operates under a franchise run by Mini Athletics limited and makes purchases of goods and services through them.
8 Controlling party
The company is under the control of Ms S. Lloyd-Smith, the sole director and shareholder.
9 Other information
Samantha Lloyd-Smith Athletics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
131 Holtye Road
East Grinstead
West Sussex
RH19 3ED
Samantha Lloyd-Smith Athletics Ltd 12782397 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts April 2025 S. Lloyd-Smith No description of principal activity 12782397 2022-08-01 2023-07-31 12782397 core:WithinOneYear 2023-07-31 12782397 core:ShareCapital 2023-07-31 12782397 core:RetainedEarningsAccumulatedLosses 2023-07-31 12782397 2023-08-01 2024-07-31 12782397 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12782397 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12782397 bus:Director40 2023-08-01 2024-07-31 12782397 1 2023-08-01 2024-07-31 12782397 2 2023-08-01 2024-07-31 12782397 core:Goodwill 2023-08-01 2024-07-31 12782397 core:PlantMachinery 2023-08-01 2024-07-31 12782397 countries:England 2023-08-01 2024-07-31 12782397 bus:FRS102 2023-08-01 2024-07-31 12782397 bus:FilletedAccounts 2023-08-01 2024-07-31 12782397 2024-07-31 12782397 core:WithinOneYear 2024-07-31 12782397 core:ShareCapital 2024-07-31 12782397 core:RetainedEarningsAccumulatedLosses 2024-07-31 12782397 core:Goodwill 2024-07-31 12782397 core:PlantMachinery 2024-07-31 12782397 2023-07-31 12782397 core:Goodwill 2023-07-31 12782397 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure