Lets Leap Sports Academy Ltd

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

1. General Information

Lets Leap Sports Academy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12055339 . The registered office is Tyttenhanger House , Coursers Road, St Albans, AL4 0PG.

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 financial statements have been prepared on a going concern basis. The directors have reviewed the company’s financial performance and position for the year ended 30 June 2025 and have considered its ability to meet liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements.

The company reported a profit for the year of £142,064 and has experienced continued growth in trading activity. Although the balance sheet includes significant creditor balances, including taxation liabilities, these are considered manageable in the context of the company’s profitability and ongoing trading performance.

The directors therefore believe that the company will continue in operational existence for the foreseeable future and that it is appropriate to prepare the financial statements on a going concern basis.

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% RB
Fixtures & Fittings	25% RB
Computer Equipment	33% SL

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.

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Lets Leap Sports Academy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.5. Taxation - continued

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.

2.6. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

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

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 July 2024	32,391	7,008	16,267	55,666
Additions	179,137	2,552	3,888	185,577

As at 30 June 2025	211,528	9,560	20,155	241,243

Depreciation
As at 1 July 2024	10,444	2,088	9,376	21,908
Provided during the period	50,271	1,868	5,460	57,599

As at 30 June 2025	60,715	3,956	14,836	79,507

Net Book Value
As at 30 June 2025	150,813	5,604	5,319	161,736

As at 1 July 2024	21,947	4,920	6,891	33,758

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	25,405	22,107
Other debtors	236,259	118,070

	261,664	140,177
Due after more than one year
Other debtors	74,885	35,554

	336,549	175,731

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Lets Leap Sports Academy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	62,076	25,991
Bank loans and overdrafts	64,850	-
Other loans	98,260	1,250
Other creditors	3,741	33,323
Taxation and social security	271,479	161,584

	500,406	222,148

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	2,663	-

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors: An interest charge applied on the balance owed by directors at year end in relation to loan account owing £14,533.70.

	As at 1 July 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 June 2025
	£	£	£	£	£
Mr Reece Elbourn	40,771	168,559	93,242	-	116,088
Mr Chris Kelly	40,771	166,059	90,742	-	116,088

The above loan was repaid on .

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		161,736		33,758

			161,736		33,758
CURRENT ASSETS
Debtors	5	336,549		175,731
Cash at bank and in hand		5,074		12,728

		341,623		188,459
Creditors: Amounts Falling Due Within One Year	6	(500,406 )		(222,148 )

NET CURRENT ASSETS (LIABILITIES)			(158,783 )		(33,689 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,953		69

Creditors: Amounts Falling Due After More Than One Year	7		(2,663 )		-

NET ASSETS			290		69

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			288		67

SHAREHOLDERS' FUNDS			290		69