Company registration number 02589606 (England and Wales)
SPRINT GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SPRINT GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SPRINT GROUP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investments
4
1,194,750
1,194,750
Current assets
-
-
Creditors: amounts falling due within one year
5
(500)
(500)
Net current liabilities
(500)
(500)
Net assets
1,194,250
1,194,250
Capital and reserves
Called up share capital
200,000
200,000
Capital redemption reserve
150,000
150,000
Profit and loss reserves
844,250
844,250
Total equity
1,194,250
1,194,250
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 September 2025 and are signed on its behalf by:
Mr J A Crewe
Director
Company registration number 02589606 (England and Wales)
SPRINT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Sprint Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Avocado Court Commerce Way, Trafford Park, Manchester, United Kingdom, M17 1HW.
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.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
The financial statements of the company are consolidated in the financial statements of Continental Textiles (Group) Limited. These consolidated financial statements are available from its registered office.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
1.2
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.
1.3
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. Bank overdrafts are shown within borrowings in current liabilities.
SPRINT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
0
0
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,194,750
1,194,750
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
500
500
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
SPRINT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Audit report information
(Continued)
- 4 -
Senior Statutory Auditor:
Daniel Rubinstein FCA
Statutory Auditor:
Lopian Gross Barnett & Co
Date of audit report:
29 September 2025
7
Events after the reporting date
There were no events after the reporting period end date which require disclosure at the balance sheet date.
8
Related party transactions
There were no related party transactions which require disclosure under FRS 102 1A.
9
Parent company
The company is a wholly owned subsidiary of Continental Textiles (Holdings) Limited, which in turn is a wholly owned subsidiary of Continental Textiles (Group) Limited, the ultimate controlling party. Both entities are registered in England & Wales and the registered address is 3 Avocado Court, Commerce Way, Trafford Park, Manchester, M17 1HW.
The company's results are consolidated into the results of that of its ultimate parent, Continental Textiles (Group) Limited, registered number 08603972. The is the smallest and largest group within which consolidated financial statements are prepared.
10
Prior period adjustment
Reconciliation of changes in equity
1 January
31 December
2023
2023
£
£
Adjustments to prior year
Revaluation reserve reclassified
-
(3,805,250)
Equity as previously reported
-
4,999,500
Equity as adjusted
-
1,194,250
Analysis of the effect upon equity
Revaluation reserve
-
(3,805,250)
Reconciliation of changes in profit for the previous financial period
2023
£
Total adjustments
-
Profit as previously reported
600,000
Profit as adjusted
600,000
Notes to reconciliation
SPRINT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Prior period adjustment
(Continued)
- 5 -
The adjustment is to reflect the reclassification of the revaluation reserve.