Acorah Software Products - Accounts Production 16.2.850 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 04114467 Mr Steven Adkins Mr Christopher Woolley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04114467 2023-07-31 04114467 2024-07-31 04114467 2023-08-01 2024-07-31 04114467 frs-core:CurrentFinancialInstruments 2024-07-31 04114467 frs-core:Non-currentFinancialInstruments 2024-07-31 04114467 frs-core:ComputerEquipment 2024-07-31 04114467 frs-core:ComputerEquipment 2023-08-01 2024-07-31 04114467 frs-core:ComputerEquipment 2023-07-31 04114467 frs-core:FurnitureFittings 2024-07-31 04114467 frs-core:FurnitureFittings 2023-08-01 2024-07-31 04114467 frs-core:FurnitureFittings 2023-07-31 04114467 frs-core:PlantMachinery 2024-07-31 04114467 frs-core:PlantMachinery 2023-08-01 2024-07-31 04114467 frs-core:PlantMachinery 2023-07-31 04114467 frs-core:RevaluationReserve 2023-07-31 04114467 frs-core:RevaluationReserve 2024-07-31 04114467 frs-core:SharePremium 2024-07-31 04114467 frs-core:ShareCapital 2024-07-31 04114467 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 04114467 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04114467 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 04114467 frs-bus:SmallEntities 2023-08-01 2024-07-31 04114467 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04114467 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04114467 frs-bus:Director1 2023-08-01 2024-07-31 04114467 frs-bus:Director2 2023-08-01 2024-07-31 04114467 frs-countries:EnglandWales 2023-08-01 2024-07-31 04114467 2022-07-31 04114467 2023-07-31 04114467 2022-08-01 2023-07-31 04114467 frs-core:CurrentFinancialInstruments 2023-07-31 04114467 frs-core:Non-currentFinancialInstruments 2023-07-31 04114467 frs-core:RevaluationReserve 2023-07-31 04114467 frs-core:SharePremium 2023-07-31 04114467 frs-core:ShareCapital 2023-07-31 04114467 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 04114467
TOOTING & MITCHAM SPORTS & LEISURE LIMITED
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04114467
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 75,991 107,275
Investment Properties 5 1,864,607 1,864,607
1,940,598 1,971,882
CURRENT ASSETS
Debtors 6 59,684 62,933
Cash at bank and in hand 3,674 42,331
63,358 105,264
Creditors: Amounts Falling Due Within One Year 7 (1,438,552 ) (1,358,181 )
NET CURRENT ASSETS (LIABILITIES) (1,375,194 ) (1,252,917 )
TOTAL ASSETS LESS CURRENT LIABILITIES 565,404 718,965
Creditors: Amounts Falling Due After More Than One Year 8 (31,551 ) (92,647 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (193,789 ) (239,417 )
NET ASSETS 340,064 386,901
CAPITAL AND RESERVES
Called up share capital 9 1,150 1,150
Share premium account 1,879,082 1,879,082
Revaluation reserve 10 1,033,818 1,033,818
Profit and Loss Account (2,573,986 ) (2,527,149 )
SHAREHOLDERS' FUNDS 340,064 386,901
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 28 April 2025 and were signed on its behalf by:
Mr Steven Adkins
Director
28/04/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TOOTING & MITCHAM SPORTS & LEISURE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 04114467 . The registered office is Unit 7, Vulcan House, Restmor Way, Hackbridge, Surrey, SM6 7AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting 
Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies 
Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of 
section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true 
and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary 
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the 
revaluation of investment properties and certain financial instruments at fair value. The principal accounting 
policies adopted are set out below.
2.2. Going Concern Disclosure
As at 31 July 2023, excluding the revaluation of investment property, the company has net liabilities of 
£670,046 (2022 - £503,332). The Directors believe the company continues to be a going concern with the 
support from related party loans. Thus the directors continue to adopt the going concern basis of accounting 
in preparing the financial statements.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for football goods and 
services as well as donations received during the normal course of business, and is shown net of VAT and 
other sales related taxes.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of 
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their 
useful lives on the following bases:
Plant & Machinery 20% per annum straight line
Fixtures & Fittings 10% per annum straight line
Refurbishment 10% per annum straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale 
proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.5. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially 
recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently 
it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. 
2.6. Leasing and Hire Purchase Contracts
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. 
Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount 
of the leased asset and recognised on a straight line basis over the lease term.
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2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to 
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 
there is a legally enforceable right to set off the recognised amounts and there is an intention 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 initially measured at 
transaction price including transaction costs and are subsequently carried at amortised cost using the 
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is 
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets 
classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference 
shares that are classified as debt, are initially recognised at transaction price unless the arrangement 
constitutes a financing transaction, where the debt instrument is measured at the present value of the future 
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are 
not amortised.
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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at 
transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. 
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion 
of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in 
profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are 
attributable to the hedged risk.
2.8. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as 
reported in the profit and loss account because it excludes items of income or expense that are taxable or 
deductible in other years and it further excludes items that are never taxable or deductible. The company’s 
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the 
reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 
recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax 
liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference 
arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects 
neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent 
that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be 
recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability 
is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except 
when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with 
in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to 
offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the 
same tax authority.
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2.9. Government Grant
Government grants are recognised at the fair value of the asset received or receivable when there is 
reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are 
met.  Where a grant does not specify performance conditions it is recognised in income when the proceeds 
are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a 
liability.
2.10. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to 
determine whether there is any indication that those assets have suffered an impairment loss. If any such 
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the 
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, 
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2.11. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs 
are required to be recognised as part of the cost of stock or fixed assets.  
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are 
received.
Termination benefits are recognised immediately as an expense when the company is demonstrably 
committed to terminate the employment of an employee or to provide termination benefits.
2.12. Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 8)
1 8
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Refurbishment Total
£ £ £ £
Cost
As at 1 August 2023 11,149 1,785,282 310,045 2,106,476
As at 31 July 2024 11,149 1,785,282 310,045 2,106,476
Depreciation
As at 1 August 2023 10,053 1,785,282 203,866 1,999,201
Provided during the period 280 - 31,004 31,284
As at 31 July 2024 10,333 1,785,282 234,870 2,030,485
Net Book Value
As at 31 July 2024 816 - 75,175 75,991
As at 1 August 2023 1,096 - 106,179 107,275
5. Investment Property
2024
£
Fair Value
As at 1 August 2023 and 31 July 2024 1,864,607
Investment property comprises leasehold land. The fair value of the investment property has been arrived at
on the basis of a valuation carried out on 31 July 2024 by S Adkins, the director. The valuation was made on
an open market value basis by reference to market evidence of transaction prices for similar properties.
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,300 575
Other debtors 57,384 62,358
59,684 62,933
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,628 1,703
Bank loans and overdrafts 61,966 61,966
Other creditors 1,370,958 1,294,512
1,438,552 1,358,181
The bank loan is secured by a fixed and floating charge over the assets of the company.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 31,551 92,647
The bank loan is secured by a fixed and floating charge over the assets of the company.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,150 1,150
10. Reserves
Revaluation Reserve
£
As at 1 August 2023 1,033,818
As at 31 July 2024 1,033,818
11. Financial commitments, guarantees and contingent liabilities
The directors consider it appropriate to disclose a contingent liability for the maximum of £2,228,742. This 
relates to grant income received from Sport England, the Football Foundation and the Big Lottery Fund, 
whereby an appropriate proportion should be repaid if the investment property is sold.
As it is not probable that the property will be sold in the next calendar year, no liability has been recognised in 
the financial statements.
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