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REGISTERED NUMBER: 06238095 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Zunsport Limited

Zunsport Limited (Registered number: 06238095)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Zunsport Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S P Langston
M C Langston





SECRETARY: M C Langston





REGISTERED OFFICE: Unit 13 Bettys Lane
Norton Canes
Cannock
Staffordshire
WS11 9UU





REGISTERED NUMBER: 06238095 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Zunsport Limited (Registered number: 06238095)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 56,188 57,075
56,188 57,075

CURRENT ASSETS
Stocks 392,488 387,550
Debtors 6 347,044 318,411
Cash at bank and in hand 84,896 116,725
824,428 822,686
CREDITORS
Amounts falling due within one year 7 (248,213 ) (239,464 )
NET CURRENT ASSETS 576,215 583,222
TOTAL ASSETS LESS CURRENT
LIABILITIES

632,403

640,297

CREDITORS
Amounts falling due after more than one
year

8

(141,690

)

(203,675

)

PROVISIONS FOR LIABILITIES 11 (5,212 ) (3,324 )
NET ASSETS 485,501 433,298

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 485,401 433,198
SHAREHOLDERS' FUNDS 485,501 433,298

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Zunsport Limited (Registered number: 06238095)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





M C Langston - Director


Zunsport Limited (Registered number: 06238095)

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

1. STATUTORY INFORMATION

Zunsport Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Intangible assets
Website costs are being amortised evenly over an estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 20% on reducing balance and 10% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development
Expenditure on research and development is written off against profits in the year in which it is incurred.

Zunsport Limited (Registered number: 06238095)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4. WEBSITE COSTS
Website
costs
£   
COST
At 1 January 2023
and 31 December 2023 73,274
AMORTISATION
At 1 January 2023
and 31 December 2023 73,274
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 6,041 110,307 51,622 167,970
Additions - - 7,677 7,677
At 31 December 2023 6,041 110,307 59,299 175,647
DEPRECIATION
At 1 January 2023 6,041 70,456 34,398 110,895
Charge for year - 4,100 4,464 8,564
At 31 December 2023 6,041 74,556 38,862 119,459
NET BOOK VALUE
At 31 December 2023 - 35,751 20,437 56,188
At 31 December 2022 - 39,851 17,224 57,075

Zunsport Limited (Registered number: 06238095)

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

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
Valuation in 2013 - 93,140 - 93,140
Cost 6,041 17,167 59,299 82,507
6,041 110,307 59,299 175,647

If plant and machinery had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 17,167 17,167
Aggregate depreciation 13,885 13,397

Jigs and fixtures within plant were valued on an open market basis on 31 December 2013 by the directors .

The directors have chosen to treat the value of these assets as deemed cost and not revalue in future years.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,747 31,514
Amounts owed by group undertakings 285,967 249,844
Other debtors 36,330 37,053
347,044 318,411

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 101,902 85,775
Trade creditors 62,151 72,120
Taxation and social security 43,731 32,609
Other creditors 40,429 48,960
248,213 239,464

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 141,690 203,675

Zunsport Limited (Registered number: 06238095)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 6,000 18,000
Between one and five years - 6,000
6,000 24,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 203,675 263,179

The bank loan is secured by a debenture over the company assets and by the personal guarantee of the directors.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,212 3,324

Deferred
tax
£   
Balance at 1 January 2023 3,324
Provided during year 1,888
Balance at 31 December 2023 5,212

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary A £1 75 75
9 Ordinary B £1 9 5
9 Ordinary C £1 9 5
5 Ordinary D £1 5 5
1 Ordinary E £1 1 5
1 Ordinary F £1 1 5
100 100

All shares rank pari-passu in all respects except that each class of share shall be entitled to dividends on a discretionary basis as a separate class right.

Zunsport Limited (Registered number: 06238095)

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

13. RELATED PARTY DISCLOSURES

Total dividends paid to the directors amounted to £nil (2022 - £93,734).

Total dividends paid to the holding company S & M Group Holdings Limited amounted to £68,619 (2022 - £28,241).

Amount owed by S & M Group Holdings Limited at 31 December 2023 - £285,967 (2022 - £249,844).

The amount owed by S & M Group Holdings Limited at 31 December 2023 is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Zunsport Limited have given their assurances that the amount will not be demanded until such time as S & M Group Holdings Limited can afford to do so without financial detriment.

14. ULTIMATE CONTROLLING PARTY

The company recognises S & M Group Holdings Limited, a company incorporated in England and Wales, as its ultimate parent company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Zunsport Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Zunsport Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Zunsport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Zunsport Limited and state those matters that we have agreed to state to the Board of Directors of Zunsport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zunsport Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Zunsport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Zunsport Limited. You consider that Zunsport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Zunsport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


29 July 2024