Company registration number 09750618 (England and Wales)
WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WINGROVE SPORTS CREATIONS LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wingrove Sports Creations Limited for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Wingrove Sports Creations Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wingrove Sports Creations Limited and state those matters that we have agreed to state to the board of directors of Wingrove Sports Creations Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wingrove Sports Creations Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Wingrove Sports Creations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wingrove Sports Creations Limited. You consider that Wingrove Sports Creations Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wingrove Sports Creations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
20 May 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,486
6,007
Investments
4
1,900
2,002,200
5,386
2,008,207
Current assets
Debtors
5
460,863
861,352
Cash at bank and in hand
254,485
230,170
715,348
1,091,522
Creditors: amounts falling due within one year
6
(114,945)
(410,115)
Net current assets
600,403
681,407
Total assets less current liabilities
605,789
2,689,614
Provisions for liabilities
(1,500)
(1,500)
Net assets
604,289
2,688,114
Capital and reserves
Called up share capital
7
110
100
Share premium account
-
0
1,000,000
Profit and loss reserves
604,179
1,688,014
Total equity
604,289
2,688,114

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
Mr W J Wingrove
Director
Company Registration No. 09750618
WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information

Wingrove Sports Creations Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

1.1
Accounting convention

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. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

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:

Fixtures and fittings
33% per annum on a straight line basis
Computer equipment
25% per annum on a straight line basis
Motor vehicles
25% per annum on a straight line basis

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.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
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.

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.

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.

1.8
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.

1.9
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.

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.

1.10
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.

2
Employees

The average monthly number of persons employed by the company during the year was 3 (2023 - 2).

WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023 and 31 August 2024
1,582
11,154
23,169
35,905
Depreciation and impairment
At 1 September 2023
853
5,876
23,169
29,898
Depreciation charged in the year
423
2,098
-
0
2,521
At 31 August 2024
1,276
7,974
23,169
32,419
Carrying amount
At 31 August 2024
306
3,180
-
0
3,486
At 31 August 2023
729
5,278
-
0
6,007
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
2,000,300
Other investments other than loans
1,900
1,900
1,900
2,002,200
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 September 2023
2,000,300
1,900
2,002,200
Disposals
(2,000,300)
-
(2,000,300)
At 31 August 2024
-
0
1,900
1,900
Carrying amount
At 31 August 2024
-
0
1,900
1,900
At 31 August 2023
2,000,300
1,900
2,002,200
WINGROVE SPORTS CREATIONS LIMITED
(FORMERLY BILLY WINGROVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
325,863
627,648
Other debtors
135,000
233,704
460,863
861,352
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
624
-
0
Amounts owed to group undertakings
80,886
148,284
Taxation and social security
30,438
39,023
Other creditors
2,997
222,808
114,945
410,115
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
11,001
10,000
110
100

During the year 1001 ordinary 1p shares were issued as part of a group reorganisation which included a share for share exchange and transfer of the Share Premium to distributable reserves.

8
Parent company

The ultimate controlling party is WX Group Limited whose registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR.

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