Pro Soccer Centres Limited 30/06/2023 iXBRL

PRO SOCCER CENTRES LIMITED - Company Information

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Pro Soccer Centres Limited

Unaudited filleted financial statements

30 June 2023

Company registration number 13433777

Pro Soccer Centres Limited

Contents

Statement of financial position

Notes to the financial statements

Pro Soccer Centres Limited

Statement of financial position

30 June 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Tangible assets	5	686,980		745,777
		_______		_______
			686,980		745,777

Current assets
Stocks		7,801		-
Debtors	6	10,900		37,137
Cash at bank and in hand		7,595		26,480
		_______		_______
		26,296		63,617
Creditors: amounts falling due
within one year	7	( 530,207)		( 654,629)
		_______		_______
Net current liabilities			( 503,911)		( 591,012)
			_______		_______
Total assets less current liabilities			183,069		154,765


Provisions for liabilities			( 25,781)		( 24,472)

			_______		_______
Net assets			157,288		130,293
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			157,188		130,193
			_______		_______
Shareholders funds			157,288		130,293
			_______		_______

For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 05 April 2024 , and are signed on behalf of the board by:

B J Martin

Director

Company registration number: 13433777

Pro Soccer Centres Limited

Notes to the financial statements

Year ended 30 June 2023

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Room 5, Fountain House, Crossways Business Park, Anchor Boulevard, Kent, DA2 6QH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

These financial statements have been prepared on the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Short leasehold property	-	5 %	straight line
Plant and machinery	-	10 %	straight line
Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£	£
Cost
At 1 July 2022 and 30 June 2023	631,963	60,902	110,298	803,163
	_______	_______	_______	_______
Depreciation
At 1 July 2022	27,223	4,302	25,861	57,386
Charge for the year	31,598	6,090	21,109	58,797
	_______	_______	_______	_______
At 30 June 2023	58,821	10,392	46,970	116,183
	_______	_______	_______	_______
Carrying amount
At 30 June 2023	573,142	50,510	63,328	686,980
	_______	_______	_______	_______
At 30 June 2022	604,740	56,600	84,437	745,777
	_______	_______	_______	_______

6. Debtors

	2023	2022
	£	£
Trade debtors	10,900	200
Other debtors	-	36,937
	_______	_______
	10,900	37,137
	_______	_______

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	42,549	-
Trade creditors	14,090	32,381
Social security and other taxes	17,504	1,357
Other creditors	456,064	620,891
	_______	_______
	530,207	654,629
	_______	_______

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2023	2022	2023	2022
	£	£	£	£
Loan from a related party	53,600	( 275,043)	( 221,443)	( 275,043)
Transactions with a related party	109,574	( 240,000)	( 130,426)	( 240,000)
	_______	_______	_______	_______

The balances above are owing to a related party in which two of the company directors are also directors and PSC's. These balances are interest free and no repayment dates have been specified.