Sporting Designs Ltd - Accounts

SPORTING DESIGNS LTD - Company Information

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Registered Number: 05637546

England and Wales

SPORTING DESIGNS LTD

Unaudited Financial Statements

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

Sporting Designs Ltd
Contents Page
For the year ended 31 December 2022

Statement of financial position	1
Notes to the financial statements	2

Sporting Designs Ltd
Statement of Financial Position
As at 31 December 2022

	Notes	2022 £	2021 £
Fixed assets
Tangible fixed assets	3	936	0
		936	0
Current assets
Stocks	4	8,300	12,491
Debtors	5	5,695	769
Cash at bank and in hand		14,476	18,500
		28,471	31,760
Creditors: amount falling due within one year	6	(8,412)	(7,915)
Net current assets		20,059	23,845

Total assets less current liabilities		20,995	23,845
Net assets		20,995	23,845

Capital and reserves
Called up share capital	7	1,000	1,000
Profit and loss account		19,995	22,845
Shareholder's funds		20,995	23,845

For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question 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 accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 12 May 2023 and were signed by:

--------------------------------
Paul Girdham
Director

Sporting Designs Ltd
Notes to the Financial Statements
For the year ended 31 December 2022

General Information

Sporting Designs Ltd is a private company, limited by shares, registered in England and Wales, registration number 05637546, registration address One Barkers Field, Long Clawson, Leicestershire, LE14 4PL.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

5 Years Straight Line

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the year was 0 (2021 : 0).

Tangible fixed assets

Cost or valuation	Plant and Machinery	Total
	£	£
At 01 January 2022	11,204	11,204
Additions	1,123	1,123
Disposals	-	-
At 31 December 2022	12,327	12,327
Depreciation
At 01 January 2022	11,204	11,204
Charge for year	187	187
On disposals	-	-
At 31 December 2022	11,391	11,391
Net book values
Closing balance as at 31 December 2022	936	936
Opening balance as at 01 January 2022	-	-

Stocks

	2022 £		2021 £
Stocks	8,300		12,491
	8,300		12,491

Debtors: amounts falling due within one year

	2022 £	2021 £
Trade Debtors	5,693	586
Corporation Tax	2	0
VAT	0	183
	5,695	769

Creditors: amount falling due within one year

	2022 £	2021 £
Trade Creditors	956	0
Taxation and Social Security	2,171	691
Other Creditors	5,285	7,224
	8,412	7,915

Share Capital

Allotted, called up and fully paid	2022 £		2021 £
1,000 Class A shares of £1.00 each	1,000		1,000
	1,000		1,000