BUSINESSPORT LIMITED

BUSINESSPORT LIMITED - Company Information

2023-03-012024-02-292024-02-29falseSC159924BUSINESSPORT 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Registered Number
SC159924
(Scotland)

Unaudited Financial Statements for the Year ended
29 February 2024

BUSINESSPORT LIMITED

Company Information
for the year from 1 March 2023 to 29 February 2024


Director	SHIELDS, Peter Berry


Company Secretary	SHIELDS, Peter Berry


Registered Address	46 Queens Road
	Aberdeen
	Aberdeenshire
	AB15 4YE


Registered Number	SC159924 (Scotland)

BUSINESSPORT LIMITED

Balance Sheet as at
29 February 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		2,258,246		2,062,341
Tangible assets	4		14,168		15,060
			2,272,414		2,077,401
Current assets
Stocks	5	124,867		-
Debtors		236,910		613,859
Cash at bank and on hand		62,679		40,144
		424,456		654,003
Creditors amounts falling due within one year	6	(352,293)		(397,257)
Net current assets (liabilities)			72,163		256,746
Total assets less current liabilities			2,344,577		2,334,147
Creditors amounts falling due after one year	7		(188,828)		(209,954)
Net assets			2,155,749		2,124,193
Capital and reserves
Called up share capital			210		210
Profit and loss account			2,155,539		2,123,983
Shareholders' funds			2,155,749		2,124,193

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 12 April 2024, and are signed on its behalf by:

SHIELDS, Peter Berry
Director
Registered Company No. SC159924

BUSINESSPORT LIMITED

Notes to the Financial Statements
for the year ended 29 February 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Intangible assets
	Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Development costs - over 10 years once they have become commercially viable

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	16		17

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 March 23	3,216,666	3,216,666
Additions	575,079	575,079
At 29 February 24	3,791,745	3,791,745
Amortisation and impairment
At 01 March 23	1,154,325	1,154,325
Charge for year	379,174	379,174
At 29 February 24	1,533,499	1,533,499
Net book value
At 29 February 24	2,258,246	2,258,246
At 28 February 23	2,062,341	2,062,341

4.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 March 23	54,430	124,166	178,596
Additions	-	5,897	5,897
At 29 February 24	54,430	130,063	184,493
Depreciation and impairment
At 01 March 23	54,430	109,106	163,536
Charge for year	-	6,789	6,789
At 29 February 24	54,430	115,895	170,325
Net book value
At 29 February 24	-	14,168	14,168
At 28 February 23	-	15,060	15,060

5.	Stocks

	2024	2023
	£	£
Work in progress	124,867	-
Total	124,867	-

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	21,327	4,278
Bank borrowings and overdrafts	35,634	47,397
Taxation and social security	72,280	112,370
Other creditors	2,569	-
Accrued liabilities and deferred income	220,483	233,212
Total	352,293	397,257


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	188,828	209,954
Total	188,828	209,954