Sportsground and Landscape Services Limited - Period Ending 2021-08-31
Sportsground and Landscape Services Limited - Period Ending 2021-08-31
Registration number:
Sportsground and Landscape Services Limited
Filleted
for the Year Ended 31 August 2021
Sportsground and Landscape Services Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Sportsground and Landscape Services Limited
Company Information
Director |
D. M. I. Emmerson |
Registered office |
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Solicitors |
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Accountants |
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Sportsground and Landscape Services Limited
(Registration number: 02622254)
Statement of Financial Position as at 31 August 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the Income Statement has been taken.
Approved and authorised by the
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Sportsground and Landscape Services Limited
Notes to the Financial Statements for the Year Ended 31 August 2021
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.
These financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The company meets its day to day working capital requirements through cash generated from operations and shareholder funding. The director has assessed the potential impact of the COVID-19 virus and the financial impact on the company and has developed and implemented a business continuity plan.
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Sportsground and Landscape Services Limited
Notes to the Financial Statements for the Year Ended 31 August 2021 (continued)
2 |
Accounting policies (continued) |
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
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Plant and machinery |
15% reducing balance |
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Office furniture |
15% reducing balance |
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Motor vehicles |
25% reducing balance |
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Computer equipment |
25% reducing balance |
Trade debtors
Trade debtors are amounts due from customers for 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.
Sportsground and Landscape Services Limited
Notes to the Financial Statements for the Year Ended 31 August 2021 (continued)
2 |
Accounting policies (continued) |
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. If there is an unconditional right to defer settlement 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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Office furniture |
Plant and machinery |
Computer equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 September 2020 |
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Additions |
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- |
- |
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Disposals |
- |
( |
- |
- |
( |
At 31 August 2021 |
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Depreciation |
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At 1 September 2020 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
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- |
( |
At 31 August 2021 |
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Carrying amount |
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At 31 August 2021 |
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At 31 August 2020 |
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Sportsground and Landscape Services Limited
Notes to the Financial Statements for the Year Ended 31 August 2021 (continued)
Debtors |
2021 |
2020 |
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Trade debtors |
- |
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Prepayments |
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Other debtors |
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Corporation tax asset |
- |
1,505 |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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- |
Corporation tax liability |
543 |
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Director's loan account |
20,840 |
21,400 |
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Related party transactions |
Transactions with directors |
2021 |
At 1 September 2020 |
Advances to directors |
At 31 August 2021 |
D. M. I. Emmerson |
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Director's loan account |
(21,400) |
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( |
2020 |
At 1 September 2019 |
Advances to directors |
At 31 August 2020 |
D. M. I. Emmerson |
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Director's loan account |
(21,840) |
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( |