Active Sport & Entertainment Limited - Accounts to registrar (filleted) - small 18.2

Active Sport & Entertainment Limited - Accounts to registrar (filleted) - small 18.2

ACTIVE SPORT & ENTERTAINMENT LIMITED - Company Information

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REGISTERED NUMBER: 10225082 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

FOR

ACTIVE SPORT & ENTERTAINMENT LIMITED
ACTIVE SPORT & ENTERTAINMENT LIMITED (REGISTERED NUMBER: 10225082)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACTIVE SPORT & ENTERTAINMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTOR: R D R Relton





REGISTERED OFFICE: 495 Green Lanes
London
N13 4BS





REGISTERED NUMBER: 10225082 (England and Wales)





ACCOUNTANTS: Avraam Associates Limited
Chartered Accountants
495 Green Lanes
London
N13 4BS
Page 1
ACTIVE SPORT & ENTERTAINMENT LIMITED (REGISTERED NUMBER: 10225082)

BALANCE SHEET
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,635 5,344

CURRENT ASSETS
Debtors 5 1,390,742 200,442
Cash at bank 465,760 49,657
1,856,502 250,099
CREDITORS
Amounts falling due within one year 6 999,605 173,242
NET CURRENT ASSETS 856,897 76,857
TOTAL ASSETS LESS CURRENT LIABILITIES 860,532 82,201

CREDITORS
Amounts falling due after more than one
year
7
-
45,834
NET ASSETS 860,532 36,367

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 860,531 36,366
SHAREHOLDERS' FUNDS 860,532 36,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
ACTIVE SPORT & ENTERTAINMENT LIMITED (REGISTERED NUMBER: 10225082)

BALANCE SHEET - continued
31ST MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th July 2022 and were signed by:





R D R Relton - Director


The notes form part of these financial statements

Page 3
ACTIVE SPORT & ENTERTAINMENT LIMITED (REGISTERED NUMBER: 10225082)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

Active Sport & Entertainment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue is largely derived from participant entry fees and sponsorship fees subject to specific agreement

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 25% on cost

Government grants
Government grants relate to grants receivable under the Coronavirus Job Retention Scheme and are accounted for under the accruals model.

Grants relating to revenue are recognised in income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate.

Grants receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4 continued...
ACTIVE SPORT & ENTERTAINMENT LIMITED (REGISTERED NUMBER: 10225082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2021
and 31st March 2022 7,773
DEPRECIATION
At 1st April 2021 2,429
Charge for year 1,709
At 31st March 2022 4,138
NET BOOK VALUE
At 31st March 2022 3,635
At 31st March 2021 5,344

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 141,936 192,000
Other debtors 1,248,806 8,442
1,390,742 200,442

Page 5 continued...
ACTIVE SPORT & ENTERTAINMENT LIMITED (REGISTERED NUMBER: 10225082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 4,167
Trade creditors 364,262 36,006
Taxation and social security 34,559 41,846
Other creditors 600,784 91,223
999,605 173,242

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 45,834

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 23,611

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £0.01 1p 1 1

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Richard Relton.

Page 6