SIH ( Ice Hockey) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC691075 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 14 JULY 2023

FOR

SIH ( ICE HOCKEY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Campbell

J D H Colley

A D Strachan

E Young

REGISTERED OFFICE:

Viewforth House

189 Nicol Street

Kirkcaldy

Fife

KY1 1PF

REGISTERED NUMBER:

SC691075 (Scotland)

ACCOUNTANTS:

Haines Watts

Business Advisors and Accountants

Viewforth House

189 Nicol Street

Kirkcaldy

Fife

KY1 1PF

FIXED ASSETS

Intangible assets

4

9,829

-

Tangible assets

5

667

1,400

10,496

1,400

CURRENT ASSETS

Debtors

6

59,769

-

Cash at bank

133,690

143,195

193,459

143,195

CREDITORS

Amounts falling due within one year

7

58,130

17,860

NET CURRENT ASSETS

135,329

125,335

TOTAL ASSETS LESS CURRENT LIABILITIES

145,825

126,735

RESERVES

Income and expenditure account

145,825

126,735

145,825

126,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 14 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 14 July 2023 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2024 and were signed on its behalf by:

J D H Colley - Director

1.	STATUTORY INFORMATION

SIH ( Ice Hockey) Limited is a private company, limited by guarantee , registered in Scotland. 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.

The figures reported in the prior period cover a period of 16 months from date of incorporation to 14 July 2022.

TURNOVER

Turnover comprises the fair value of the consideration received during the year including registrations, affiliations, coaching and other miscellaneous sources of income. The company recognises revenue on the date of receipt, except for subscriptions and fees received in advance which are recognised in the period the subscription covers.

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 the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

33% per annum on cost

The carrying values of intangible assets are reviewed for impairment on an annual basis.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION

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

Current 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

11,220

At 14 July 2023

11,220

AMORTISATION

Amortisation for year

1,391

At 14 July 2023

1,391

NET BOOK VALUE

At 14 July 2023

9,829

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 15 July 2022

and 14 July 2023

2,222

DEPRECIATION

At 15 July 2022

822

Charge for year

733

At 14 July 2023

1,555

NET BOOK VALUE

At 14 July 2023

667

At 14 July 2022

1,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

59,769

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Deferred income

55,191

-

Accrued expenses

2,939

17,860

58,130

17,860