Sportoffer Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02996265

Sportoffer Limited

Filleted Unaudited Financial Statements

31 March 2025

Sportoffer Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Investments	5		330,000	330,000

Current assets

Debtors	6	455,983	426,338
Cash at bank and in hand		13	2
		---------	---------
		455,996	426,340

Creditors: amounts falling due within one year	7	1,521,469		1,470,720
		------------		------------
Net current liabilities			1,065,473	1,044,380
			------------	------------
Total assets less current liabilities			( 735,473)	( 714,380)
			---------	---------
Net liabilities			( 735,473)	( 714,380)
			---------	---------

Capital and reserves

Called up share capital	80,000	80,000
Profit and loss account	( 815,473)	( 794,380)
	---------	---------
Shareholders deficit	( 735,473)	( 714,380)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Sportoffer Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 17 November 2025 , and are signed on behalf of the board by:

Mr R Hayden

Director

Company registration number: 02996265

Sportoffer Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Manor Club, Manners Road, Ilkeston, Derbyshire, DE7 8AT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Going concern

In the opinion of the directors, the company continues to remain a going concern due to the continuing support from the directors and related parties and the accounts have been prepared on that basis. Should this cease to be the case, the assets and liabilities would need to be restated to their recoverable amounts.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	10% straight line
Fixtures & fittings	-	10% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	101,120	164,045	265,165
	---------	---------	---------
Depreciation
At 1 April 2024 and 31 March 2025	101,120	164,045	265,165
	---------	---------	---------
Carrying amount
At 31 March 2025	–	–	–
	---------	---------	---------
At 31 March 2024	–	–	–
	---------	---------	---------

5. Investments

	Investment property
	£
Cost
At 1 April 2024 and 31 March 2025	330,000
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	330,000
	---------
At 31 March 2024	330,000
	---------

6. Debtors

	2025	2024
	£	£
Other debtors	455,983	426,338
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,124	1,625
Amounts owed to connected companies	1,438,249	1,388,999
Other creditors	80,096	80,096
	------------	------------
	1,521,469	1,470,720
	------------	------------

8. Directors' advances, credits and guarantees

At the balance sheet date the company owed a director £78,346 (2024-£78,346). The loan is interest free and repayable on demand.