Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr R J Karkeek 04/10/2019 Mr S J Karkeek 23/07/2020 18 February 2026 The principal activity of the company is that of running combined sports facilities and a licensed bar and restaurant. 12244981 2024-12-31 12244981 bus:Director1 2024-12-31 12244981 bus:Director2 2024-12-31 12244981 2023-12-31 12244981 core:CurrentFinancialInstruments 2024-12-31 12244981 core:CurrentFinancialInstruments 2023-12-31 12244981 core:Non-currentFinancialInstruments 2024-12-31 12244981 core:Non-currentFinancialInstruments 2023-12-31 12244981 core:ShareCapital 2024-12-31 12244981 core:ShareCapital 2023-12-31 12244981 core:RetainedEarningsAccumulatedLosses 2024-12-31 12244981 core:RetainedEarningsAccumulatedLosses 2023-12-31 12244981 core:PlantMachinery 2023-12-31 12244981 core:FurnitureFittings 2023-12-31 12244981 core:PlantMachinery 2024-12-31 12244981 core:FurnitureFittings 2024-12-31 12244981 bus:OrdinaryShareClass1 2024-12-31 12244981 2024-01-01 2024-12-31 12244981 bus:FilletedAccounts 2024-01-01 2024-12-31 12244981 bus:SmallEntities 2024-01-01 2024-12-31 12244981 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12244981 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12244981 bus:Director1 2024-01-01 2024-12-31 12244981 bus:Director2 2024-01-01 2024-12-31 12244981 core:PlantMachinery core:BottomRangeValue 2024-01-01 2024-12-31 12244981 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 12244981 core:FurnitureFittings 2024-01-01 2024-12-31 12244981 2023-01-01 2023-12-31 12244981 core:PlantMachinery 2024-01-01 2024-12-31 12244981 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 12244981 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 12244981 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 12244981 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12244981 (England and Wales)

# NQY SPORTS LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

NQY SPORTS LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

NQY SPORTS LTD

## BALANCE SHEET

As at 31 December 2024
NQY SPORTS LTD

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 97,954 |  | 142,209
|  | 97,954 |  | 142,209
Current assets |  |  |  |
Stocks | 4 | 1,171 |  | 846
Debtors | 5 | 320,502 |  | 115,083
Cash at bank and in hand |  | 19,551 |  | 400
|  | 341,224 |  | 116,329
Creditors: amounts falling due within one year | 6 | ( 241,462) |  | ( 168,659)
Net current assets/(liabilities) |  | 99,762 |  | (52,330)
Total assets less current liabilities |  | 197,716 |  | 89,879
Creditors: amounts falling due after more than one year | 7 | ( 123,422) |  | ( 26,667)
Provision for liabilities |  | ( 6,975) |  | ( 4,107)
Net assets |  | 67,319 |  | 59,105
Capital and reserves |  |  |  |
Called-up share capital | 8 | 1 |  | 1
Profit and loss account |  | 67,318 |  | 59,104
Total shareholder's funds |  | 67,319 |  | 59,105

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of NQY Sports Ltd (registered number: 12244981) were approved and authorised for issue by the Board of Directors on 18 February 2026. They were signed on its behalf by:

Mr R J Karkeek Director |

NQY SPORTS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
NQY SPORTS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

NQY Sports Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is Newquay Sports Centre, Tretherras Road, Yeoman Way, Newquay, Cornwall, TR7 2SL.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;

##### Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and machinery | 3 - 5 years straight line
Fixtures and fittings | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

##### 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.

##### 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.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 12 |  | 11

#### 3. Tangible assets

| Plant and machinery |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2024 | 189,024 |  | 67,838 |  | 256,862
Additions | 4,596 |  | 4,670 |  | 9,266
At 31 December 2024 | 193,620 |  | 72,508 |  | 266,128
Accumulated depreciation |  |  |  |  |
At 01 January 2024 | 87,384 |  | 27,269 |  | 114,653
Charge for the financial year | 44,709 |  | 8,812 |  | 53,521
At 31 December 2024 | 132,093 |  | 36,081 |  | 168,174
Net book value |  |  |  |  |
At 31 December 2024 | 61,527 |  | 36,427 |  | 97,954
At 31 December 2023 | 101,640 |  | 40,569 |  | 142,209

#### 4. Stocks

| 2024 |  | 2023
| £ |  | £
Stocks | 1,171 |  | 846

#### 5. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 5,161 |  | 19,740
Other debtors | 315,341 |  | 95,343
| 320,502 |  | 115,083

#### 6. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank overdrafts | 0 |  | 14,065
Trade creditors | 93,569 |  | 67,221
Other taxation and social security | 72,236 |  | 47,835
Obligations under finance leases and hire purchase contracts (secured) | 19,155 |  | 31,040
Other creditors | 56,502 |  | 8,498
| 241,462 |  | 168,659

Finance lease and hire purchase liabilities are secured on the assets to which they relate.

#### 7. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Obligations under finance leases and hire purchase contracts (secured) | 7,511 |  | 26,667
Other creditors | 115,911 |  | 0
| 123,422 |  | 26,667

Finance lease and hire purchase liabilities are secured on the assets to which they relate.

#### 8. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1