ISPORTSA LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07963622 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

ISPORTSA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs I Sibierski

A Sibierski

REGISTERED OFFICE:

PO Box 895

Altrincham Conservative Club

24 Market Street

Altrincham

Cheshire

WA14 1PF

REGISTERED NUMBER:

07963622 (England and Wales)

ACCOUNTANTS:

DHF Accounting Ltd

20 Market Street

Altrincham

Cheshire

WA14 1PF

FIXED ASSETS

Intangible assets

4

5,684

8,249

Tangible assets

5

1,024

2,398

6,708

10,647

CURRENT ASSETS

Debtors

6

228,443

201,928

Cash at bank

3,376

66,373

231,819

268,301

CREDITORS

Amounts falling due within one year

7

188,570

277,524

NET CURRENT ASSETS/(LIABILITIES)

43,249

(9,223

)

TOTAL ASSETS LESS CURRENT LIABILITIES

49,957

1,424

CREDITORS

Amounts falling due after more than one year

8

(50,000

)

-

PROVISIONS FOR LIABILITIES

(195

)

(456

)

NET (LIABILITIES)/ASSETS

(238

)

968

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(338

)

868

SHAREHOLDERS' FUNDS

(238

)

968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Board of Directors and authorised for issue on 29 September 2021 and were signed on its behalf by:

A Sibierski - Director

1.	STATUTORY INFORMATION

ISPORTSA LTD 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Government grants

Government grants are accounted for using the accruals model.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2020

and 31 December 2020

12,826

AMORTISATION

At 1 January 2020

4,577

Amortisation for year

2,565

At 31 December 2020

7,142

NET BOOK VALUE

At 31 December 2020

5,684

At 31 December 2019

8,249

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2020

and 31 December 2020

8,806

DEPRECIATION

At 1 January 2020

6,408

Charge for year

1,374

At 31 December 2020

7,782

NET BOOK VALUE

At 31 December 2020

1,024

At 31 December 2019

2,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Other debtors

-

5,293

Directors' current accounts

171,367

147,726

Corporation tax repayable

55,694

48,011

VAT

1,121

898

Prepayments and accrued income

261

-

228,443

201,928

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

159,908

151,514

Tax

27,028

86,137

Other creditors

747

38,772

Directors' current accounts

-

81

Accrued expenses

887

1,020

188,570

277,524

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans - 1-2 years

50,000

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

38

Ordinary A

£1

38

38

37

Ordinary B

£1

37

37

24

Ordinary C

£1

24

24

1

Ordinary D

£1

1

1

100

100

On 1st April 2019 the 100 Ordinary shares in issue were re designated as 38 Ordinary A shares, 37 Ordinary B shares. 24 Ordinary C shares and 1 Ordinary D share.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20

31.12.19

£

£

A Sibierski

Balance outstanding at start of year

147,726

110,746

Amounts advanced

110,900

132,203

Amounts repaid

(87,259

)

(95,223

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

171,367

147,726

During the year a director withdrew £110,900 from the company and introduced £87,259. At the balance sheet date £171,367 was due to the company from the director. (2019 £147,726). The loan is interest free and has no fixed repayment terms.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is A Sibierski.