Sportform Limited - Accounts to registrar (filleted) - small 18.2

Sportform Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 03596416 (England and Wales)















Financial Statements for the Year Ended 31 July 2021

for

Sportform Limited

Sportform Limited (Registered number: 03596416)






Contents of the Financial Statements
for the Year Ended 31 July 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Sportform Limited

Company Information
for the Year Ended 31 July 2021







DIRECTOR: G Nutting





SECRETARY: H E Armitage





REGISTERED OFFICE: Foresters Hall
25/27 Westow Street
London
SE19 3RY





REGISTERED NUMBER: 03596416 (England and Wales)





ACCOUNTANTS: Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY

Sportform Limited (Registered number: 03596416)

Abridged Balance Sheet
31 July 2021

31/7/21 31/7/20
Notes £ £
FIXED ASSETS
Tangible assets 4 618 824

CURRENT ASSETS
Debtors 17,030 11,643
Cash at bank - 193
17,030 11,836
CREDITORS
Amounts falling due within one year (9,538 ) (3,292 )
NET CURRENT ASSETS 7,492 8,544
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,110

9,368

CREDITORS
Amounts falling due after more than one
year

(7,229

)

(9,000

)
NET ASSETS 881 368

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 880 367
SHAREHOLDERS' FUNDS 881 368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Sportform Limited (Registered number: 03596416)

Abridged Balance Sheet - continued
31 July 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2022 and were signed by:





G Nutting - Director


Sportform Limited (Registered number: 03596416)

Notes to the Financial Statements
for the Year Ended 31 July 2021

1. STATUTORY INFORMATION

Sportform 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Government grants
A government grant is assistance provided by government in the form of a transfer of resources to an entity in return for past or future compliance with specified conditions relating to the operating activities of the entity. A grant that becomes receivable as compensation for expenses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Coronavirus Job Retention Scheme (CJRS) grant income received in the year has been recognised in the profit and loss account in the period that the expense was incurred and the grant becomes receivable.

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.


Sportform Limited (Registered number: 03596416)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2021

2. ACCOUNTING POLICIES - continued
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.

Bounce back loan scheme
The British Business Bank together with lenders provided a range of financial options including the Bounce Back Loan Scheme (BBLS). These loans are backed by a government guarantee and the government will make a Business Interruption payment to cover the first twelve months of interest payments.

A loan of £9,000 had been secured from the company's bankers at a rate of 2.5% per annum. The repayment terms are six years with no repayments for the first twelve months. Any difference between the amount of cash received and the discounted present value has been recognised as other finance income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 August 2020
and 31 July 2021 8,652
DEPRECIATION
At 1 August 2020 7,828
Charge for year 206
At 31 July 2021 8,034
NET BOOK VALUE
At 31 July 2021 618
At 31 July 2020 824

Sportform Limited (Registered number: 03596416)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2021

5. POST BALANCE SHEET EVENTS

The director has considered the possible effect on the company of the impact of the worldwide pandemic (COVID-19). Taking into account a period exceeding twelve months from the date of approval of these financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its financial statements.

6. ULTIMATE CONTROLLING PARTY

The controlling party is G Nutting.