Registered number
00345981
Spires Sports Limited
Filleted Accounts
31 December 2024
Spires Sports Limited
Registered number: 00345981
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 950,567 610,740
Current assets
Debtors 4 570 7,339
Cash at bank and in hand 25,070 16,237
25,640 23,576
Creditors: amounts falling due within one year 5 (45,824) (33,644)
Net current liabilities (20,184) (10,068)
Total assets less current liabilities 930,383 600,672
Creditors: amounts falling due after more than one year 6 8,533 4,947
Provisions for liabilities (121,942) -
Net assets 816,974 605,619
Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 7 487,769 147,575
Profit and loss account 319,205 448,044
Shareholders' funds 816,974 605,619
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 members have 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.
Sandra A Spires
Director
Approved by the board on 10 June 2025
Spires Sports Limited
Notes to the Accounts
for the year ended 31 December 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).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 January 2024 609,806 158,864 768,670
Surplus on revaluation 340,194 - 340,194
At 31 December 2024 950,000 158,864 1,108,864
Depreciation
At 1 January 2024 - 157,930 157,930
Charge for the year - 367 367
At 31 December 2024 - 158,297 158,297
Net book value
At 31 December 2024 950,000 567 950,567
At 31 December 2023 609,806 934 610,740
4 Debtors 2024 2023
£ £
Trade debtors - 4,501
Other debtors 570 2,838
570 7,339
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,882 3,657
Trade creditors - 900
Amounts owed to group undertakings and undertakings in which the company has a participating interest 15,383 14,966
Taxation and social security costs 13,092 11,691
Other creditors 15,467 2,430
45,824 33,644
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,146 9,318
Other creditors (15,679) (14,265)
(8,533) (4,947)
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 147,575 147,575
Gain on revaluation of land and buildings 340,194 -
At 31 December 2024 487,769 147,575
8 Other information
Spires Sports Limited is a private company limited by shares and incorporated in England. Its registered office is:
Maple Lodge,
21 Bramble Rise,
Cobham,
Surrey,
KT11 2HP
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