Company Registration No. 10868534 (England and Wales)
Sovereign Sports Ltd
Unaudited accounts
for the year ended 31 July 2021
Sovereign Sports Ltd
Unaudited accounts
Contents
Sovereign Sports Ltd
Company Information
for the year ended 31 July 2021
Directors
S Kennard
I Kennard
Company Number
10868534 (England and Wales)
Registered Office
1 Christchurch House
Sir Thomas Longley Road
Rochester
Kent
ME2 4FX
Accountants
AK Tax & Accountancy Ltd
Suite 1 Christchurch House
Sir Thomas Longley Road
Rochester
Kent
ME24FX
Sovereign Sports Ltd
Statement of financial position
as at
31 July 2021
Tangible assets
180,769
191,740
Inventories
337,000
159,400
Cash at bank and in hand
27,614
(26,405)
Creditors: amounts falling due within one year
(330,959)
(259,890)
Net current assets
147,716
2,143
Total assets less current liabilities
328,485
193,883
Creditors: amounts falling due after more than one year
(254,757)
(108,007)
Called up share capital
125
125
Profit and loss account
73,603
85,751
Shareholders' funds
73,728
85,876
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2021 and were signed on its behalf by
I Kennard
Director
Company Registration No. 10868534
Sovereign Sports Ltd
Notes to the Accounts
for the year ended 31 July 2021
Sovereign Sports Ltd is a private company, limited by shares, registered in England and Wales, registration number 10868534. The registered office is 1 Christchurch House, Sir Thomas Longley Road, Rochester, Kent, ME2 4FX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 % on reducing balance basis
Motor vehicles
25% on reducing balance basis
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2020
133,073
113,450
374
246,897
Additions
14,216
10,435
-
24,651
At 31 July 2021
147,289
123,885
374
271,548
At 1 August 2020
30,001
24,992
164
55,157
Charge for the year
29,322
6,248
52
35,622
At 31 July 2021
59,323
31,240
216
90,779
At 31 July 2021
87,966
92,645
158
180,769
At 31 July 2020
103,072
88,458
210
191,740
Sovereign Sports Ltd
Notes to the Accounts
for the year ended 31 July 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
109,961
128,588
Accrued income and prepayments
-
450
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
17,774
5,416
Obligations under finance leases and hire purchase contracts
94,973
40,032
Trade creditors
195,145
218,024
Taxes and social security
(1,974)
(5,352)
Loans from directors
23,436
2
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
-
108,007
Taxes and social security
29,757
-
8
Average number of employees
During the year the average number of employees was 3 (2020: 2).