REGISTERED NUMBER: |
SHARK HELMETS UK LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
REGISTERED NUMBER: |
SHARK HELMETS UK LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
SHARK HELMETS UK LTD (REGISTERED NUMBER: 05571280) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SHARK HELMETS UK LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
Hillview Business Centre |
2 Leybourne Avenue |
Bournemouth |
Dorset |
BH10 6HF |
SHARK HELMETS UK LTD (REGISTERED NUMBER: 05571280) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SHARK HELMETS UK LTD (REGISTERED NUMBER: 05571280) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
Shark Helmets UK Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
SHARK HELMETS UK LTD (REGISTERED NUMBER: 05571280) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2022 |
Disposals | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
SHARK HELMETS UK LTD (REGISTERED NUMBER: 05571280) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
8. | RELATED PARTY DISCLOSURES |
Shark SA owns 7,000 ordinary shares in Shark Helmets UK Limited. |
The remaining 3,000 issued ordinary shares are owned by Nevis Marketing Limited. |
During the year Shark UK Limited sold £2,483,144 (2022 - £3,003,513 ) of goods to Nevis Marketing Limited on normal commercial terms. |
During the year Nevis Marketing Limited recharged £234,110 (2022 - £193,812) at cost for expenses to Shark UK Limited. |
Included in trade debtors as at 30 September 2023 is £3,211 (2022 - £139,511) owed by Nevis Marketing Limited. |
During the year Shark UK Limited purchased £1,928,031 (2022 - £3,385,014) of goods from Shark SA on normal commercial terms. |
Included in other creditors due in less than one year as at 30 September 2023 is £13,390 (2022 - £6,609) owed to Shark SA. |
Included in trade creditors as at 30 September 2023 is £392,935 (2022 - £852,717 ) owed to Shark SA |
Included in trade creditors as at 30 September 2023 is £62,961 (2022 - £34,329) owed to 2Ride Holding |
During the year Shark SA charged £9,126 (2022 - £9,271) in management fees to Shark UK. |
During the year 2Ride Holding charged £27,198 (2022 - £34,329) in management fees to Shark UK. |
9. | ULTIMATE CONTROLLING PARTY |
70% of the shares in Shark Helmets UK Limited are owned by Shark SA. |
100% of the shares of Shark SA are owned by 2 Ride Holding. |