Teamsport Holdings Limited - Period Ending 2022-06-30
Teamsport Holdings Limited - Period Ending 2022-06-30
Registration number:
Teamsport Holdings Limited
for the
Year Ended 30 June 2022
Teamsport Holdings Limited
Profit and Loss Account for the Year Ended 30 June 2022
The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
Teamsport Holdings Limited
(Registration number: 08334291)
Balance Sheet as at 30 June 2022
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2022 |
2021 |
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Fixed assets |
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Investments |
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Creditors: Amounts falling due within one year |
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( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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For the financial year ending 30 June 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
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The directors acknowledge 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.
Approved and authorised by the
Director
Teamsport Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Name of parent of group
These financial statements are consolidated in the financial statements of Luigi Topco Limited.
The financial statements of Luigi Topco Limited may be obtained from Companies House..
Group accounts not prepared
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
Teamsport Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was as follows:
2022 |
2021 |
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Directors |
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Investments |
2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost and carrying amount |
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At 1 July 2021 and at 30 June 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2022 |
2021 |
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Subsidiary undertakings |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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Teamsport Investments Limited is held directly by the company, all other subsidiaries are indirect holdings.
Principal activity
The following companies principal activity is that of an intermediate parent company; Teamsport Investments Limited and Teamsport Racing Limited.
With the exception of Go Karting for Fun (Crawley) Limited, Teamsport Indoor Karting (London) which are both dormant and Linfix Limited which ceased trading on 1 March 2021 when their trade and assets were transferred to Go Karting For Fun Limited, the remaining subsidiaries’ principal activity is the operation of indoor go karting tracks.
Creditors |
2022 |
2021 |
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Due within one year |
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Amounts due to group undertakings |
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Teamsport Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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173,000 |
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173,000 |
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123,112 |
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123,112 |
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9,375 |
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9,375 |
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Rights, preferences and restrictions
The different classes of share referred to above carry seperate rights to dividends but, in all other significant respects, rank pari passu. |
Contingent liabilities |
The company is party to a cross guarantee arrangement with other group companies totalling £82,596,301 (2020 - £76,825,899).
Related party transactions |
The company has taken advantage of the exemption from disclosing transactions with other members of the group.
Parent and ultimate parent undertaking |
The immediate parent and controlling party is
The ultimate parent entity is