Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282false2022-03-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02395765 2022-03-01 2023-02-28 02395765 2021-03-01 2022-02-28 02395765 2023-02-28 02395765 2022-02-28 02395765 2021-03-01 02395765 5 2022-03-01 2023-02-28 02395765 5 2021-03-01 2022-02-28 02395765 10 2022-03-01 2023-02-28 02395765 10 2021-03-01 2022-02-28 02395765 d:Director1 2022-03-01 2023-02-28 02395765 e:Buildings 2022-03-01 2023-02-28 02395765 e:Buildings 2023-02-28 02395765 e:Buildings 2022-02-28 02395765 e:Buildings e:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02395765 e:Buildings e:LongLeaseholdAssets 2022-03-01 2023-02-28 02395765 e:PlantMachinery 2022-03-01 2023-02-28 02395765 e:MotorVehicles 2022-03-01 2023-02-28 02395765 e:FurnitureFittings 2022-03-01 2023-02-28 02395765 e:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 02395765 e:OtherPropertyPlantEquipment 2023-02-28 02395765 e:OtherPropertyPlantEquipment 2022-02-28 02395765 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02395765 e:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02395765 e:CurrentFinancialInstruments 2023-02-28 02395765 e:CurrentFinancialInstruments 2022-02-28 02395765 e:Non-currentFinancialInstruments 2023-02-28 02395765 e:Non-currentFinancialInstruments 2022-02-28 02395765 e:CurrentFinancialInstruments e:WithinOneYear 2023-02-28 02395765 e:CurrentFinancialInstruments e:WithinOneYear 2022-02-28 02395765 e:Non-currentFinancialInstruments e:AfterOneYear 2023-02-28 02395765 e:Non-currentFinancialInstruments e:AfterOneYear 2022-02-28 02395765 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-02-28 02395765 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2022-02-28 02395765 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-02-28 02395765 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2022-02-28 02395765 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-02-28 02395765 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-02-28 02395765 e:ShareCapital 2022-03-01 2023-02-28 02395765 e:ShareCapital 2023-02-28 02395765 e:ShareCapital 2021-03-01 2022-02-28 02395765 e:ShareCapital 2022-02-28 02395765 e:ShareCapital 2021-03-01 02395765 e:RevaluationReserve 2022-03-01 2023-02-28 02395765 e:RevaluationReserve 2023-02-28 02395765 e:RevaluationReserve 5 2022-03-01 2023-02-28 02395765 e:RevaluationReserve 2021-03-01 2022-02-28 02395765 e:RevaluationReserve 2022-02-28 02395765 e:RevaluationReserve 2021-03-01 02395765 e:RevaluationReserve 5 2021-03-01 2022-02-28 02395765 e:RevaluationReserve 10 2021-03-01 2022-02-28 02395765 e:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 02395765 e:RetainedEarningsAccumulatedLosses 2023-02-28 02395765 e:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 02395765 e:RetainedEarningsAccumulatedLosses 2022-02-28 02395765 e:RetainedEarningsAccumulatedLosses 2021-03-01 02395765 d:OrdinaryShareClass1 2022-03-01 2023-02-28 02395765 d:OrdinaryShareClass1 2023-02-28 02395765 d:FRS102 2022-03-01 2023-02-28 02395765 d:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 02395765 d:FullAccounts 2022-03-01 2023-02-28 02395765 d:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 02395765 e:HirePurchaseContracts e:WithinOneYear 2023-02-28 02395765 e:HirePurchaseContracts e:WithinOneYear 2022-02-28 02395765 e:HirePurchaseContracts e:BetweenOneFiveYears 2023-02-28 02395765 e:HirePurchaseContracts e:BetweenOneFiveYears 2022-02-28 02395765 5 2022-03-01 2023-02-28 02395765 e:AcceleratedTaxDepreciationDeferredTax 2023-02-28 02395765 e:AcceleratedTaxDepreciationDeferredTax 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02395765









REPLAY SPORTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
REPLAY SPORTS LIMITED
REGISTERED NUMBER: 02395765

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
891,647
897,687

  
891,647
897,687

Current assets
  

Stocks
 5 
223,335
205,486

Debtors: amounts falling due within one year
 6 
-
1,800

Cash at bank and in hand
 7 
1,712
46,813

  
225,047
254,099

Creditors: amounts falling due within one year
 8 
(348,877)
(343,356)

Net current liabilities
  
 
 
(123,830)
 
 
(89,257)

Total assets less current liabilities
  
767,817
808,430

Creditors: amounts falling due after more than one year
 9 
(202,712)
(217,660)

Provisions for liabilities
  

Deferred tax
 12 
(68,122)
(73,278)

Net assets
  
496,983
517,492


Capital and reserves
  

Called up share capital 
 13 
100
100

Revaluation reserve
  
486,347
499,019

Profit and loss account
  
10,536
18,373

  
496,983
517,492

Page 1

 
REPLAY SPORTS LIMITED
REGISTERED NUMBER: 02395765
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




G B Errington
Director


The notes on pages 4 to 13 form part of these financial statements.
Page 2

 
REPLAY SPORTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 March 2022
100
499,019
18,373
517,492


Comprehensive income for the year

Loss for the year
-
-
(20,509)
(20,509)

Deferred tax on revaluation
-
-
(5,156)
(5,156)

Excess depreciation on revaluation
-
-
17,828
17,828

Transfer to Profit and loss account
-
(12,672)
-
(12,672)
Total comprehensive income for the year
-
(12,672)
(7,837)
(20,509)


At 28 February 2023
100
486,347
10,536
496,983



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2022


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 March 2021
100
530,515
(44,006)
486,609


Comprehensive income for the year

Profit for the year
-
-
30,883
30,883

Deferred tax on revaluation
-
-
13,668
13,668

Excess depreciation on revaluation
-
-
17,828
17,828

Transfer to Profit and loss account
-
(31,496)
-
(31,496)
Total comprehensive income for the year
-
(31,496)
62,379
30,883


At 28 February 2022
100
499,019
18,373
517,492


The notes on pages 4 to 13 form part of these financial statements.
Page 3

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Replay Sports Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 8 Buckland Gate, Wexham, Slough, Berkshire, SL3 6LS.
The company specialises in retailing sports goods.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at 28 February 2023, the company had net current liabilities of £123,830 (2022 - £89,257) which includes a loan of £230,958 (2022 - £215,817) due to the director. The director has confirmed that he will not require repayment of the loan due to him until the company has sufficient funds to do so without jeopardising the company's ability to continue to trade.
The director notes that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the Statement of financial position date. As such, the director believes that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 5

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold buildings
-
2% straight line
Short term leasehold
-
Over the term of the lease
Plant & equipment
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures & fittings
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Page 6

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the Statement of comprehensive income.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 March 2022
1,236,130
99,090
1,335,220


Additions
-
16,370
16,370



At 28 February 2023

1,236,130
115,460
1,351,590



Depreciation


At 1 March 2022
339,285
98,248
437,533


Charge for the year
20,625
1,785
22,410



At 28 February 2023

359,910
100,033
459,943



Net book value



At 28 February 2023
876,220
15,427
891,647



At 28 February 2022
896,845
842
897,687

Included within the net book value of land and buildings is £876,220 (2022 - £896,845) relating to freehold land and buildings.  Included in land and buildings is freehold land at deemed cost of £180,000 (2022 - £180,000) which is not depreciated.

Page 8

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
Cost or valuation at 28 February 2023 is as follows:

Land and buildings
£


At cost
344,748
At valuation:

Revaluation during years ended 28 February 2006 and 28 February 2007 
891,382



1,236,130

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
344,748
344,748

Accumulated depreciation
(125,675)
(118,780)

Net book value
219,073
225,968


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
223,335
205,486

223,335
205,486



6.


Debtors

2023
2022
£
£


Other debtors
-
1,800

-
1,800


Page 9

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,712
46,813

1,712
46,813



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
32,111
32,109

Trade creditors
11,455
26,997

Corporation tax
1,424
1,289

Other taxation and social security
1,218
504

Obligations under finance lease and hire purchase contracts
3,339
-

Other creditors
293,430
278,289

Accruals and deferred income
5,900
4,168

348,877
343,356


Bank loans are secured against the assets of the company.
Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
191,713
217,660

Net obligations under finance leases and hire purchase contracts
10,999
-

202,712
217,660


Bank loans are secured against the assets of the company.
Obligations under finance lease and hire purchase contracts are secured against the assets to which they
relate.

Page 10

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
32,111
32,109

Amounts falling due 1-2 years

Bank loans
32,111
32,111

Amounts falling due 2-5 years

Bank loans
79,545
89,233

Amounts falling due after more than 5 years

Bank loans
80,057
96,316

223,824
249,769



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
3,339
-

Between 1-5 years
10,999
-

14,338
-

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.

Page 11

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

12.


Deferred taxation




2023
2022


£

£






At beginning of year
73,278
59,610


(Credited)/charged to the Statement of comprehensive income
(5,156)
13,668



At end of year
68,122
73,278

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of fixed assets
68,122
73,278

68,122
73,278


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



14.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company, in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £791 (2022 - £791).


15.Director's personal guarantees

The director has personally guaranteed the liabilities of the company to the sum of £360,000 (2022 -  £360,000).


16.


Related party transactions

Included within other creditors are amounts owed to the director of £230,958 (2022 - £215,817).

Page 12

 
REPLAY SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

17.


Controlling party

The company is controlled by the director, by virtue of his majority shareholding.
 
Page 13