MFC SPORTS LIMITED 30/04/2021 iXBRL
MFC SPORTS LIMITED 30/04/2021 iXBRL
Company registration number:
NI638142
Trading as
MFC Sports Limited
EF McCambridge & Co
Chartered Accountants, Chartered Tax Advisors
&
Registered Auditors
6 Bayview Terrace
Derry
BT48 7EE
Statement of financial position
30 April 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
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Tangible assets | 6 |
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Investments | 7 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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- | |||||||
Debtors | 8 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 9 |
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_______ | _______ | ||||||||
Net current assets/(liabilities) |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 10 |
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
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.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
06 January 2022
, and are signed on behalf of the board by:
Director
Director
Company registration number:
NI638142
Notes to the financial statements
Year ended 30 April 2021
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 31 Glendermott Road, Derry, BT47 6 BG.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Intangible assets
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Combined other intangible assets | - |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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:
Motor vehicles | - |
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Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
Stocks
Government grants
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2020:
13
).
5.
Intangible assets
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 1 May 2020 and 30 April 2021 |
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_______ | _______ | ||
Amortisation | |||
At 1 May 2020 |
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Charge for the year |
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_______ | _______ | ||
At 30 April 2021 |
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_______ | _______ | ||
Carrying amount | |||
At 30 April 2021 |
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_______ | _______ | ||
At 30 April 2020 |
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_______ | _______ | ||
6.
Tangible assets
Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 May 2020 |
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Additions |
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- |
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_______ | _______ | _______ | ||
At 30 April 2021 |
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_______ | _______ | _______ | ||
Depreciation | ||||
At 1 May 2020 |
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Charge for the year |
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_______ | _______ | _______ | ||
At 30 April 2021 |
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_______ | _______ | _______ | ||
Carrying amount | ||||
At 30 April 2021 |
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_______ | _______ | _______ | ||
At 30 April 2020 |
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_______ | _______ | _______ | ||
7.
Investments
Shares in group undertakings and participating interests | Total | ||
£ | £ | ||
Cost | |||
At 1 May 2020 and 30 April 2021 |
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_______ | _______ | ||
Impairment | |||
At 1 May 2020 and 30 April 2021 | - | - | |
_______ | _______ | ||
Carrying amount | |||
At 30 April 2021 |
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_______ | _______ | ||
At 30 April 2020 |
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_______ | _______ | ||
8.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
9.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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- | ||
Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
10.
Creditors: amounts falling due after more than one year
2021 | 2020 | |||
£ | £ | |||
Other creditors |
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_______ | _______ | |||