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REGISTERED NUMBER: 07339702 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Aaasports Limited

Aaasports Limited (Registered number: 07339702)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Aaasports Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr A Revell





REGISTERED OFFICE: Aaasports
Shakespeare Street
Sunderland
SR5 2JF





REGISTERED NUMBER: 07339702 (England and Wales)





ACCOUNTANTS: S&W Partners (Newcastle) Limited
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Aaasports Limited (Registered number: 07339702)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 106,042 99,869

CURRENT ASSETS
Debtors 6 134,050 14,691
Cash at bank and in hand 65,552 163,261
199,602 177,952
CREDITORS
Amounts falling due within one year 7 (89,469 ) (76,181 )
NET CURRENT ASSETS 110,133 101,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,175

201,640

CREDITORS
Amounts falling due after more than one
year

8

(186,556

)

(197,628

)
NET ASSETS 29,619 4,012

CAPITAL AND RESERVES
Called up share capital 1 1
Profit and loss account 29,618 4,011
29,619 4,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 May 2025 and were signed by:





Mr A Revell - Director


Aaasports Limited (Registered number: 07339702)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Aaasports Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain assets measured at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from events management, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses with the exception of freehold property.

Freehold property is measured at revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation. Revaluations shall be made with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account along with the associated deferred tax.

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.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.


Aaasports Limited (Registered number: 07339702)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued
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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 130,322 66,530 196,852
Additions - 13,419 13,419
At 31 August 2024 130,322 79,949 210,271
DEPRECIATION
At 1 September 2023 61,342 35,641 96,983
Charge for year - 7,246 7,246
At 31 August 2024 61,342 42,887 104,229
NET BOOK VALUE
At 31 August 2024 68,980 37,062 106,042
At 31 August 2023 68,980 30,889 99,869


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,124 4,796
Other debtors 121,926 9,895
134,050 14,691

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46,685 34,879
Trade creditors 1 1
Taxation and social security 7,980 15,087
Other creditors 34,803 26,214
89,469 76,181

Aaasports Limited (Registered number: 07339702)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 186,556 197,628

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 217,812 232,507

The bank loans are secured by a fixed and floating charge over the assets of the company, and contains a negative pledge.