ACADEMY 1 SPORTS MANAGEMENT LTD

ACADEMY 1 SPORTS MANAGEMENT LTD - Company Information

2019-04-012020-03-312020-03-31false11260026ACADEMY 1 SPORTS MANAGEMENT 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Registered Number
11260026
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 March 2020

ACADEMY 1 SPORTS MANAGEMENT LTD

Company Information
for the year from 1 April 2019 to 31 March 2020


Directors	BECKHAM, Stacey John
	VAUGHAN, Paul Alan


Registered Address	The Old Granary
	Dunton Road
	Laindon
	SS15 4DB


Registered Number	11260026 (England and Wales)

ACADEMY 1 SPORTS MANAGEMENT LTD

Balance Sheet as at
31 March 2020

	Notes	2020 £	2019 £
Current assets
Debtors	5	105,207
Cash at bank and on hand		33,426	100
Creditors amounts falling due within one year	6	(67,975)
Net current assets (liabilities)		70,658	100
Total assets less current liabilities		70,658	100
Net assets		70,658	100
Capital and reserves
Called up share capital		100	100
Profit and loss account		70,558
Shareholders' funds		70,658	100

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 8 December 2020, and are signed on its behalf by:

VAUGHAN, Paul Alan
Director
Registered Company No. 11260026

ACADEMY 1 SPORTS MANAGEMENT LTD

Notes to the Financial Statements
for the year ended 31 March 2020

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

3.	EMPLOYEE INFORMATION

		2020		2019
	Average number of employees during the year	4		0

4.	DIVIDENDS PROPOSED AND PAYABLE

		2020 £		2019 £
	Dividends Paid	3,000
	Total	3,000		0

5.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2020 £	2019 £
Trade debtors / trade receivables	103,049
Amounts owed by group undertakings	2,158
Total	105,207	0

6.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2020 £	2019 £
Trade creditors / trade payables	14,763
Bank borrowings and overdrafts	14,000
Taxation and social security	24,014
Other creditors	15,198
Total	67,975	0