Cricket Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10546730 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2022

for

CRICKET PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J G Benson

Ms S L Broadway

R D P Charkin

A Cooney

P G Curran

P V Fuller

T S McDowell

M T Thacker

REGISTERED OFFICE:

Box 33 4th Floor

Bedser Stand, The Kia Oval

Kennington

London

SE11 5SS

REGISTERED NUMBER:

10546730 (England and Wales)

ACCOUNTANTS:

Elsby & Co

Thistledown Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Intangible assets

4

383,711

442,073

Tangible assets

5

1,819

3,069

385,530

445,142

CURRENT ASSETS

Stocks

27,684

-

Debtors

6

78,515

62,346

Cash at bank

82,447

172,136

188,646

234,482

CREDITORS

Amounts falling due within one year

7

144,131

125,301

NET CURRENT ASSETS

44,515

109,181

TOTAL ASSETS LESS CURRENT LIABILITIES

430,045

554,323

CREDITORS

Amounts falling due after more than one year

8

66,364

85,417

NET ASSETS

363,681

468,906

CAPITAL AND RESERVES

Called up share capital

10

27,649

27,649

Share premium

964,478

964,478

Retained earnings

(628,446

)

(523,221

)

SHAREHOLDERS' FUNDS

363,681

468,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 26 October 2022 and were signed on its behalf by:

P G Curran - Director

1.	STATUTORY INFORMATION

Cricket Properties 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 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 etc

-

33% on cost

Stocks

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

After reviewing the company's forecasts and projections, the directors are confident that the company has adequate resources to continue in operation for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Government grants

Government and local authority grants received as a result of the help given to business because of the impact of the Coronavirus pandemic are accounted for when received. It is recognised when the company becomes entitled to the funds after having fulfilled any requirements attached to the grants. The company received support for the furloughing of staff under the Job Retention Scheme.

3.

EMPLOYEES

The average number of employees during the year was 13 (2021 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 February 2021

586,675

Additions

340

At 31 January 2022

587,015

AMORTISATION

At 1 February 2021

144,602

Amortisation for year

58,702

At 31 January 2022

203,304

NET BOOK VALUE

At 31 January 2022

383,711

At 31 January 2021

442,073

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2021

3,571

5,334

8,905

Additions

-

566

566

At 31 January 2022

3,571

5,900

9,471

DEPRECIATION

At 1 February 2021

1,706

4,130

5,836

Charge for year

892

924

1,816

At 31 January 2022

2,598

5,054

7,652

NET BOOK VALUE

At 31 January 2022

973

846

1,819

At 31 January 2021

1,865

1,204

3,069

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

59,709

24,556

Other debtors

18,806

37,790

78,515

62,346

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

19,902

14,583

Trade creditors

94,632

74,904

Taxation and social security

11,638

5,887

Other creditors

17,959

29,927

144,131

125,301

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

66,364

85,417

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

86,266

100,000

Bank loan is denominated in Sterling with a nominal interest rate of 4.49%, and the final instalment is due on 9 June 2025. The carrying amount at year end is £86,266 (2021 - £100,000).

The company's bankers hold a fixed and floating charge over all the assets and undertakings of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

27,649

Ordinary

1

27,649

27,649

11.	RELATED PARTY TRANSACTIONS

TriNorth Limited, of which Mr J G Benson and Mr M Thacker are directors, made sales to the company of £17,204 (2021 - £104,625) and purchased £18,000 (2021 - £16,273) of services from the company during the year. At 31st January 2022 the company owed TriNorth Limited £8,115 (2021 - £7,821). Ellipse Data Limited, of which Mr A Cooney is a director, made sales to the company of £Nil (2021 - £28,500) and purchased £30,000 (2021 - £Nil) during the year.