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Registration number: 03686696

Apollo Leisure Sports Supplies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Apollo Leisure Sports Supplies Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Apollo Leisure Sports Supplies Limited

Company Information

Director

Mr J Holt

Company secretary

G Jones

Registered office

Unit 1 Forest Close
Ebblake Industrial Estate
Verwood
Dorset
BH31 6DE

Accountants

Grant Sellers Limited
Bank Court
Manor Road
Verwood
Dorset
BH31 6DY

 

Apollo Leisure Sports Supplies Limited

(Registration number: 03686696)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

8,004

5,773

Current assets

 

Stocks

280,785

217,217

Debtors

6

97,485

97,037

Cash at bank and in hand

 

4,767

11,158

 

383,037

325,412

Creditors: Amounts falling due within one year

7

(173,339)

(143,861)

Net current assets

 

209,698

181,551

Total assets less current liabilities

 

217,702

187,324

Creditors: Amounts falling due after more than one year

7

(32,407)

(42,110)

Provisions for liabilities

(1,889)

(227)

Net assets

 

183,406

144,987

Capital and reserves

 

Called up share capital

8

2

2

Profit and loss account

183,404

144,985

Shareholders' funds

 

183,406

144,987

For the financial year ending 31 March 2022 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.

 

Apollo Leisure Sports Supplies Limited

(Registration number: 03686696)
Balance Sheet as at 31 March 2022 (continued)

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 7 September 2022
 

.........................................

Mr J Holt
Director

 

Apollo Leisure Sports Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

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

The address of its registered office is:
Unit 1 Forest Close
Ebblake Industrial Estate
Verwood
Dorset
BH31 6DE

These financial statements were authorised for issue by the director on 7 September 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 - '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 except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are presented in pound sterling and rounded to the nearest £1.

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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

 

Apollo Leisure Sports Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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 balance sheet 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

Leasehold

Length of the lease

Fixtures & Fittings

20% reducing balance

Computer Equipment

20% reducing balance

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.

 

Apollo Leisure Sports Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2021 - 7).

 

Apollo Leisure Sports Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

52,500

52,500

At 31 March 2022

52,500

52,500

Amortisation

At 1 April 2021

52,500

52,500

At 31 March 2022

52,500

52,500

Carrying amount

At 31 March 2022

-

-

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2021

2,478

57,094

33,194

92,766

Additions

-

-

3,600

3,600

At 31 March 2022

2,478

57,094

36,794

96,366

Depreciation

At 1 April 2021

2,478

54,208

30,307

86,993

Charge for the year

-

577

792

1,369

At 31 March 2022

2,478

54,785

31,099

88,362

Carrying amount

At 31 March 2022

-

2,309

5,695

8,004

At 31 March 2021

-

2,886

2,887

5,773

6

Debtors

 

Apollo Leisure Sports Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022 (continued)

6

Debtors (continued)

2022
£

2021
£

Trade debtors

91,896

50,324

Prepayments

5,482

5,951

Other debtors

107

40,762

97,485

97,037

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

33,508

70,105

Trade creditors

 

108,073

23,086

Taxation and social security

 

16,438

23,343

Accruals and deferred income

 

7,050

7,050

Other creditors

 

8,270

20,277

 

173,339

143,861

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

32,407

42,110

 

Apollo Leisure Sports Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022 (continued)

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

32,407

42,110

2022
£

2021
£

Current loans and borrowings

Bank borrowings

9,703

7,891

Bank overdrafts

23,805

62,214

33,508

70,105