Registered number |
Company Information |
Directors |
Auditors |
Matthew Edwards & Co |
2nd Floor |
Queen Victoria House |
Victoria Street |
IM1 2LF |
Registered office |
Unit 5 Drakes Courtyard |
291 Kilburn High Road |
London |
NW6 7JR |
Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 6 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 7 | ( |
( |
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Net current liabilities | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholder's funds | ( |
( |
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R Simpson | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Intangible fixed assets | ||||||||
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Software- Straight Line over 2 years Patents - Straight Line over 2 years Development Costs - Straight Line over 2 years |
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Tangible fixed assets | ||||||||
Fixtures, fitting and equipments | Straight line over 1 year | |||||||
Computer equipment | Straight line over 2 years | |||||||
Stocks | ||||||||
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
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Cash and cash equivalents | ||||||||
Financial Instruments | ||||||||
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounls and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets: Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities: Financial Iiabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities: Basic financial liabilities, including creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Equity Instruments | ||||||||
Foreign Exchange | ||||||||
Judgements and key sources of estimation uncertainty | ||||||||
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
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2 | Audit information | |||||||
Senior statutory auditor: | ||||||||
Firm: | ||||||||
Date of audit report: | ||||||||
3 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Intangible fixed assets | £ | ||||||
Patents: | ||||||||
Cost | ||||||||
At 1 January 2022 | ||||||||
At 31 December 2022 | ||||||||
Amortisation | ||||||||
At 1 January 2022 | ||||||||
At 31 December 2022 | ||||||||
Net book value | ||||||||
At 31 December 2022 | - | |||||||
5 | Tangible fixed assets | |||||||
Equipment & furniture | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 January 2022 | ||||||||
At 31 December 2022 | ||||||||
Depreciation | ||||||||
At 1 January 2022 | ||||||||
At 31 December 2022 | ||||||||
Net book value | ||||||||
At 31 December 2022 | - | |||||||
6 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
7 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Shareholder loan | ||||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
8 | Events after the reporting date | |||||||
9 | Audit Report Information | |||||||
10 | Controlling party | |||||||
11 | Other information | |||||||
ARMIS SPORT LIMITED is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Unit 5 Drakes Courtyard | ||||||||
291 Kilburn High Road | ||||||||
London | ||||||||
NW6 7JR |