WILD4SPORT LTD 06025989 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is that of agents for the sale of golf wear and equipment. Digita Accounts Production Advanced 6.30.9574.0 true 06025989 2021-01-01 2021-12-31 06025989 2021-12-31 06025989 bus:OrdinaryShareClass1 2021-12-31 06025989 core:CurrentFinancialInstruments 2021-12-31 06025989 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 06025989 bus:SmallEntities 2021-01-01 2021-12-31 06025989 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 06025989 bus:FullAccounts 2021-01-01 2021-12-31 06025989 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 06025989 bus:RegisteredOffice 2021-01-01 2021-12-31 06025989 bus:CompanySecretary1 2021-01-01 2021-12-31 06025989 bus:Director1 2021-01-01 2021-12-31 06025989 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 06025989 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06025989 countries:EnglandWales 2021-01-01 2021-12-31 06025989 2020-01-01 2020-12-31 06025989 2020-12-31 06025989 bus:OrdinaryShareClass1 2020-12-31 06025989 core:CurrentFinancialInstruments 2020-12-31 06025989 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06025989

WILD4SPORT LTD

trading as Braid & MacKenzie

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

WILD4SPORT LTD

trading as Braid & MacKenzie

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

WILD4SPORT LTD

trading as Braid & MacKenzie

Company Information

Director

Mr David Robert Moseley Kinsey

Company secretary

Mrs Sally Elizabeth Kinsey

Registered office

c/o Kinsey Partnership Rear Office
1st Floor Strayside House
27 West Park
Harrogate
North Yorkshire
HG1 1BJ

 

WILD4SPORT LTD

trading as Braid & MacKenzie

(Registration number: 06025989)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Stocks

4

-

4,500

Debtors

5

16,859

-

Cash at bank and in hand

 

19,855

4,496

 

36,714

8,996

Creditors: Amounts falling due within one year

6

(30,241)

(33,419)

Net assets/(liabilities)

 

6,473

(24,423)

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

6,463

(24,433)

Shareholders' funds/(deficit)

 

6,473

(24,423)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Profit and Loss Account has been taken.

Approved and authorised by the director on 10 August 2022
 

.........................................
Mr David Robert Moseley Kinsey
Director

 

WILD4SPORT LTD

trading as Braid & MacKenzie

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Kinsey Partnership Rear Office
1st Floor Strayside House
27 West Park
Harrogate
North Yorkshire
HG1 1BJ

These financial statements were authorised for issue by the director on 10 August 2022.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

WILD4SPORT LTD

trading as Braid & MacKenzie

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

 

WILD4SPORT LTD

trading as Braid & MacKenzie

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Stocks

2021
£

2020
£

Other inventories

-

4,500

5

Debtors

Current

2021
£

2020
£

Trade debtors

16,859

-

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

22,066

30,065

Taxation and social security

 

5,223

245

Accruals and deferred income

 

500

500

Other creditors

 

2,452

2,609

 

30,241

33,419

 

WILD4SPORT LTD

trading as Braid & MacKenzie

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

         

8

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Other borrowings

22,066

30,065