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REGISTERED NUMBER: 08987829 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Goode Sport Ltd

Goode Sport Ltd (Registered number: 08987829)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Goode Sport Ltd

Company Information
for the Year Ended 31 March 2023







Directors: N W Goode
A B Goode
P G Smith





Registered office: 25 Brownfields
Welwyn Garden City
Hertfordshire
AL7 1AN





Registered number: 08987829 (England and Wales)





Accountants: Jordan Thomas Lane
135 High Street
Great Abington
Cambridgeshire
CB21 6AE

Goode Sport Ltd (Registered number: 08987829)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 20,000 35,000
Tangible assets 5 3,041 4,055
23,041 39,055

Current assets
Stocks 427,040 268,624
Debtors 6 156,915 138,511
Cash at bank 14,657 124,823
598,612 531,958
Creditors
Amounts falling due within one year 7 246,232 191,261
Net current assets 352,380 340,697
Total assets less current liabilities 375,421 379,752

Creditors
Amounts falling due after more than one
year

8

(266,918

)

(293,836

)

Provisions for liabilities (439 ) (601 )
Net assets 108,064 85,315

Capital and reserves
Called up share capital 102 102
Retained earnings 107,962 85,213
108,064 85,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Goode Sport Ltd (Registered number: 08987829)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 22 November 2023 and were signed on its behalf by:





P G Smith - Director


Goode Sport Ltd (Registered number: 08987829)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Goode Sport Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Goode Sport Ltd (Registered number: 08987829)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 150,000
AMORTISATION
At 1 April 2022 115,000
Charge for year 15,000
At 31 March 2023 130,000
NET BOOK VALUE
At 31 March 2023 20,000
At 31 March 2022 35,000

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022
and 31 March 2023 15,936
DEPRECIATION
At 1 April 2022 11,881
Charge for year 1,014
At 31 March 2023 12,895
NET BOOK VALUE
At 31 March 2023 3,041
At 31 March 2022 4,055

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 154,745 136,569
Prepayments 2,170 1,942
156,915 138,511

Goode Sport Ltd (Registered number: 08987829)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 10,000 10,000
Trade creditors 211,091 132,369
Tax 5,663 20,667
VAT 1,216 5,573
Directors' loan accounts 17,582 21,972
Accrued expenses 680 680
246,232 191,261

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans 222,968 236,277
Directors' loan accounts 43,950 57,559
266,918 293,836