| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Sports Labs Holdings Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Sports Labs Holdings Ltd |
| Sports Labs Holdings Ltd (Registered number: 09104562) |
| 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 |
| Sports Labs Holdings Ltd |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Management Accountants |
| Drumsheugh Toll |
| 2 Belford Road |
| Edinburgh |
| Midlothian |
| EH4 3BL |
| Sports Labs Holdings Ltd (Registered number: 09104562) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| Sports Labs Holdings Ltd (Registered number: 09104562) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Sports Labs Holdings Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| As at the balance sheet date, the company's liabilities exceed its assets by £103 (2023 - £103). The Company meets its day to day working capital from loans from Sports Labs Ltd, a 90% subsidiary. The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future.The Director believes that the financial statements should be prepared on a going concern basis and appropriate funding will be available if required. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Sports Labs Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - |
| 4. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Sports Labs Holdings Ltd (Registered number: 09104562) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: 1 Adam Square, Brucefield Industry Park, Livingston, West Lothian Scotland, EH54 9DE |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| Sports Labs Holdings Ltd doesn't own any of the Ordinary A or Ordinary B shares. |
| Registered office: 1 Adam Square, Brucefield Industry Park, Livingston, West Lothian Scotland, EH54 9DE |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves |
| (Loss)/profit for the year | ( |
) |
| Sports Labs Holdings Ltd doesn't own any of the Ordinary A or Ordinary B shares which are non voting shares. |
| Registered office: 1 Adam Square, Brucefield Industry Park, Livingston, West Lothian Scotland, EH54 9DE |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| The investments in subsidiaries are valued at cost less impairment. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Amounts owed to group undertakings |
| Sports Labs Holdings Ltd (Registered number: 09104562) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 6. | RELATED PARTY DISCLOSURES |
| From time to time the company enters into transactions with other Companies under common control or in which significant influence is held by the directors. Where these transactions have been made under normal market conditions specific details are not provided. |
| Balances owed to other Group Companies |
| 2024 | 2023 |
| Payable | Payable |
| £ | £ |
| Loan balances with other group companies | 535 | 535 |