Thornbury Sports Trading Services Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 12477367

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		42,400		84,800

			42,400		84,800
CURRENT ASSETS
Debtors		138,916		3,852
Cash at bank and in hand		10,192		18,832

		149,108		22,684
Creditors: Amounts Falling Due Within One Year		(4,732,095 )		(4,561,481 )

NET CURRENT ASSETS (LIABILITIES)			(4,582,987 )		(4,538,797 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(4,540,587 )		(4,453,997 )

NET LIABILITIES			(4,540,587 )		(4,453,997 )

CAPITAL AND RESERVES
Called up share capital	5		1		1
Profit and Loss Account			(4,540,588 )		(4,453,998 )

SHAREHOLDERS' FUNDS			(4,540,587)		(4,453,997)

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Thornbury Sports Trading Services Ltd

Abridged Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 January 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Mark Goodhead

Director

10/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Thornbury Sports Trading Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12477367 . The registered office is 3rd Floor, 45 Leather Lane, London, EC1N 7TH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

In the prior year, the company did not amortise its intangible assets. Upon review, the director has determined that these assets have a useful life of 5 years. The company has adjusted for the missed amortisation from the prior year and has commenced amortisation over the remaining life of the assets.

The total amortisation expense recognised in the current year includes both the adjustment for the prior year and the amortisation for the current year.

Other intangible assets 5 years straight line

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Thornbury Sports Trading Services Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 January 2025

2.6. Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

2.7. Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

2.8. 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 creditors: amounts falling due within one year.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Intangible Assets

	Total
	£
Cost
As at 1 February 2024	212,000

As at 31 January 2025	212,000

Amortisation
As at 1 February 2024	127,200
Provided during the period	42,400

As at 31 January 2025	169,600

Net Book Value
As at 31 January 2025	42,400

As at 1 February 2024	84,800

5. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

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Thornbury Sports Trading Services Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 January 2025

6. Related Party Transactions

Transactions with entities in which the entity itself has a participating interest

Longshot Systems Ltd

Consultancy services provided to the company by fellow subsidiary

£170,614 (2024 - 1,040,794)

Transactions with the entity's directors

Amount owed from the company to the directors

£2,960,493 (2024 - £2,960,493)

Longshot Systems Ltd

Amount owed from the company to Longshot Systems Ltd

£1,600,987 (2024 - £1,600,987)

7. Ultimate Controlling Party

The company's ultimate controlling party is Longshot Systems Holdings Limited by virtue of his ownership of 100% of the issued share capital in the company.

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