Sport & Play Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05689254 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

SPORT & PLAY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

M Cullingford

M Wood

J Westbrook

SECRETARY:

M Cullingford

REGISTERED OFFICE:

Stone Cross Barn

Lewes Road

Laughton

Lewes

East Sussex

BN8 6BN

REGISTERED NUMBER:

05689254 (England and Wales)

ACCOUNTANTS:

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

FIXED ASSETS

Tangible assets

4

7,487

9,762

Investments

5

11,050

11,050

18,537

20,812

CURRENT ASSETS

Stocks

9,000

3,700

Debtors

6

248,364

235,563

Cash at bank

70,053

23,232

327,417

262,495

CREDITORS

Amounts falling due within one year

7

212,595

193,392

NET CURRENT ASSETS

114,822

69,103

TOTAL ASSETS LESS CURRENT LIABILITIES

133,359

89,915

CREDITORS

Amounts falling due after more than one year

8

-

4,463

NET ASSETS

133,359

85,452

CAPITAL AND RESERVES

Called up share capital

1,250

1,250

Retained earnings

10

132,109

84,202

SHAREHOLDERS' FUNDS

133,359

85,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 20 December 2017 and were signed on its behalf by:

M Cullingford - Director

1.	STATUTORY INFORMATION

Sport & Play Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of goods and provision of services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

16,845

37,918

10,000

64,763

Additions

1,414

1,428

-

2,842

Disposals

(6,000

)

(223

)

(10,000

)

(16,223

)

At 31 March 2017

12,259

39,123

-

51,382

DEPRECIATION

At 1 April 2016

14,970

30,031

10,000

55,001

Charge for year

978

4,139

-

5,117

Eliminated on disposal

(6,000

)

(223

)

(10,000

)

(16,223

)

At 31 March 2017

9,948

33,947

-

43,895

NET BOOK VALUE

At 31 March 2017

2,311

5,176

-

7,487

At 31 March 2016

1,875

7,887

-

9,762

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

11,050

NET BOOK VALUE

At 31 March 2017

11,050

At 31 March 2016

11,050

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

159,097

159,497

Amounts owed by group undertakings

40,263

38,240

Other debtors

16,459

15,100

Prepayments & accrued income

32,545

22,726

248,364

235,563

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

4,463

10,318

Trade creditors

78,484

85,091

Amounts owed to group undertakings

16,843

1,475

Corporation tax

21,456

8,167

Social security and other taxes

8,484

3,743

VAT

43,231

36,360

Other creditors

18,150

4,128

Directors' current accounts

16,659

26,589

Accruals

4,825

17,521

212,595

193,392

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans - 1-2 years

-

4,463

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank loans

4,463

14,781

10.

RESERVES

Retained

earnings

£

At 1 April 2016

84,202

Profit for the year

90,818

Dividends

(42,911

)

At 31 March 2017

132,109

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £36,166 (2016 - £22,029) were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is M Cullingford.

13.	FIRST YEAR ADOPTION

The policies adopted under the entity's previous accounting framework are not materially different to FRS 102

and there have been no transitional adjustments to the balance sheet or the profit and loss.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Sport & Play Limited for the year ended 31 March 2017 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sport & Play Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sport & Play Limited and state those matters that we have agreed to state to the Board of Directors of Sport & Play Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sport & Play Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sport & Play Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sport & Play Limited. You consider that Sport & Play Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sport & Play Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

20 December 2017