SMALL HEATH BOXING CLUB LTD
Registered number: 07866032
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets - -
Tangible assets 3 472 556
Investments - -
472 556
Current assets
Stocks - -
Debtors 4 9,405 -
Investments held as current assets - -
Cash at bank and in hand 134,929 50,885
144,334 50,885
Creditors: amounts falling due within one year 5 (95,527) (15,697)
Net Current Assets 48,807 35,188
Total assets less current liabilities 49,279 35,744
Creditors: amounts falling due after more than one year 6 (11,319) (21,351)
Provisions for liabilities - -
Net Assets 37,960 14,393
Capital and reserves
Called up share capital - -
Share premium - -
Revaluation reserve - -
Profit and loss account 37,960 14,393
Shareholder's funds 37,960 14,393
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J O NEILL
Director
Approved by the board on 31 July 2025
SMALL HEATH BOXING CLUB LTD
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
At the time of approving the financial statements the Directors have a reasonable expectation that the organisation has adequate resoources to continue in operational existence for the foreseeaable future. Thus the trustees continue to adopt the going conern basis if accounting in preparing the financial statements..
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery Reducing value - 20%
Fixtures, fittings, tools and equipment Reducing value - 20%
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 or 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant & Machinery Fixture and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 - 1,086 - 1,086
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 30 November 2024 - 1,086 - 1,086
Depreciation
At 1 December 2023 - 530 - 530
Charge for the year - 84 - 84
Surplus on revaluation - - - -
On disposals - - - -
At 30 November 2024 - 614 - 614
Net book value
At 30 November 2024 - 472 - 472
At 30 November 2023 - 556 - 556
4 Debtors 2024 2023
£ £
Trade debtors 9,405 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other debtors - -
9,405 -
Amounts due after more than one year included above - -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts 9,508 9,508
Obligations under finance lease and hire purchase contracts - -
Trade creditors (41) 6,189
Amounts owed to group undertakings and undertakings in which the company has a participating interest 80,984 -
Taxation and social security costs 5,076 -
Other creditors - -
95,527 15,697
6 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 11,319 21,351
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
11,319 21,351
Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years - -
Instalments falling due for payment after more than five years - -
- -
Bank loans - -
The bank loans are unsecured and bear interest at a fixed rate Of 2.5% per annum.
The loan is deferred for 12 months before becoming repayable over equal annual instalments over 5 years
7 Related party transactions
During the year Small Heatig Boxing Club Limited received £36,000 in rent from Pat Benson Community Sports
Foundation Limited ,a company connected by common directors/trustees and members.
At 30 November 2024, the amount owing by Small Heath Boxing Club Ltd to the Trust
amounted to £80,984 (2023 -Nil )
Other than these transactions there were no other related party transactions during the year (2023 - none).
8 Other information
SMALL HEATH BOXING CLUB LTD is a private company limited by guarantee and incorporated in England. Its registered office is:
UNIT 2
50 ADDERLEY STREET
DIGBETH
BIRMINGHAM
B9 4ED
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