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Registered number: 12142906
Sykes Sports Coaching Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Augustus & Co
Chartered Certified Accountants
374 Ley Street
Ilford
Essex
IG1 4AE
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12142906
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 1,188
Tangible Assets 5 10,375 12,222
10,375 13,410
CURRENT ASSETS
Debtors 6 2,481 30,535
Cash at bank and in hand 13,444 21,839
15,925 52,374
Creditors: Amounts Falling Due Within One Year 7 (18,250 ) (26,200 )
NET CURRENT ASSETS (LIABILITIES) (2,325 ) 26,174
TOTAL ASSETS LESS CURRENT LIABILITIES 8,050 39,584
Creditors: Amounts Falling Due After More Than One Year 8 (5,458 ) (11,786 )
NET ASSETS 2,592 27,798
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 2,492 27,698
SHAREHOLDERS' FUNDS 2,592 27,798
For the year ending 31 August 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.
On behalf of the board
Mr Steven James Sykes
Director
12 May 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Sykes Sports Coaching Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12142906 . The registered office is 374 Ley Street, Ilford, Essex, IG1 4AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property asset is the cost of franchise. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 10% straight line
Fixtures & Fittings 20% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 September 2023 5,940
As at 31 August 2024 5,940
Amortisation
As at 1 September 2023 4,752
Provided during the period 1,188
As at 31 August 2024 5,940
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 1,188
Page 2
Page 3
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 16,699 889 17,588
As at 31 August 2024 16,699 889 17,588
Depreciation
As at 1 September 2023 5,010 356 5,366
Provided during the period 1,670 177 1,847
As at 31 August 2024 6,680 533 7,213
Net Book Value
As at 31 August 2024 10,019 356 10,375
As at 1 September 2023 11,689 533 12,222
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,481 30,535
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,134 2,801
Bank loans and overdrafts 6,725 6,889
Corporation tax - 5,144
Other taxes and social security 2,796 8,014
Accruals and deferred income 3,000 1,850
Directors' loan accounts 1,595 1,502
18,250 26,200
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,458 11,786
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 3