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REGISTERED NUMBER: 06059355 (England and Wales)















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024

for

DARTS CORNER LTD

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


DARTS CORNER LTD

Company Information
for the Year Ended 31 March 2024







Directors: A B Webb
J S Browning
C Heenighan





Secretary: A B Webb





Registered office: Harewood House
Union Road
Bolton
BL2 2HE





Registered number: 06059355 (England and Wales)





Auditors: Haines Watts
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Strategic Report
for the Year Ended 31 March 2024


The directors present their strategic report for the year ended 31 March 2024.

Principal activity
The principal activity of the company is the distribution and sale of darts and associated equipment.

Going concern
The accounts have been prepared on a going concern basis, based on the strength of the company's balance sheet and the ongoing support committed by the existing shareholders in the group.

Fair review of business
The company has continued to build its stable of global brands that are available across all of the channels it operates in. This company distributes a range of brands from the world of darts as well as continuing to grow its own brands, including Mission, Designa and Ruthless. This growth has ensured the company maintains its position as the leading distributor of darts products in the world today. The company has continued to invest in the development of innovative products to grow its own brands and support the continued growth and expansion into global markets.

The company's flagship brand Mission Darts continues to grow its sponsored player base, sponsoring up-and-coming amateur and professional players with ongoing success in regional, national and international competitions.

The company has continued to invest in its people and systems during the year across a range of areas. This investment has started to yield benefits across the business, with the company positioned for continued growth in 2024.

Principal risks and uncertainties
Credit Risk - the majority of the company's transactions are e-commerce based with limited credit exposure. Where exposures exist to wholesale customers who have been granted credit terms, initial assessment and regular monitoring of the party's creditworthiness is undertaken.

Foreign Exchange Risk - The company is truly global and trades with suppliers and customers across many continents - a natural hedge exists to some extent between the location and currencies of suppliers and end customers. Where the company is exposed to currency fluctuations, it uses a combination of financial instruments to minimise these fluctuations, including forward foreign exchange contracts.

Interest Rate Risk - The company is not exposed to significant interest rate risk.

Commodity Price Fluctuations - The company is exposed to fluctuations in commodity prices in relation to the raw materials contained in its products. The company elects not to hedge these exposures.

Market Risk - The company is exposed to the continued growth of the darts market globally. This growth is continuing unabated and is only enhanced by global television and competition sponsorship.

Analysis of key performance indicators
The company operates to the following key performance indicators:
- Turnover
- Gross Margin
- EBITDA

On behalf of the board:





C Heenighan - Director


31 July 2024

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Report of the Directors
for the Year Ended 31 March 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

Principal activity
The principal activity of the company in the year under review was that of online retailer for steel tip darts, soft tip darts and associated products.

Dividends
No dividends will be distributed for the year ended 31 March 2024.

Directors
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

A B Webb
J S Browning

Other changes in directors holding office are as follows:

W M Taylor - resigned 31 January 2024
C Heenighan - appointed 8 December 2023

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board:





C Heenighan - Director


31 July 2024

Report of the Independent Auditors to the Members of
Darts Corner Ltd


Opinion
We have audited the financial statements of Darts Corner Ltd (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Darts Corner Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the company engagement team included:

- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- identifying and testing journal entries, in particular any journal entries posted with unusual account combination;

- assessing management estimates by evaluating the significant assumptions and the choice of data used; and

- We have tested a sample of sales and ensured that they have been included correctly in the accounts as well as increasing the risk in our samples when testing trade debtors that we have tested by agreeing to underlying records and cash after date.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Darts Corner Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Antony Sassen (Senior Statutory Auditor)
for and on behalf of Haines Watts
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

1 August 2024

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Statement of Comprehensive
Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

Turnover 4 16,997,992 13,877,199

Cost of sales (12,795,563 ) (11,920,690 )
Gross profit 4,202,429 1,956,509

Administrative expenses (3,636,000 ) (2,978,917 )
Operating profit/(loss) 6 566,429 (1,022,408 )


Interest payable and similar expenses 7 39,054 (768 )
Profit/(loss) before taxation 605,483 (1,023,176 )

Tax on profit/(loss) 8 (187,948 ) 294,105
Profit/(loss) for the financial year 417,535 (729,071 )

Other comprehensive income - -
Total comprehensive income for the year 417,535 (729,071 )

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 9 287,008 390,773
Tangible assets 10 295,236 262,376
582,244 653,149

Current assets
Stocks 11 3,722,606 3,606,795
Debtors 12 1,366,130 1,156,760
Cash at bank 2,141,957 1,041,555
7,230,693 5,805,110
Creditors
Amounts falling due within one year 13 3,600,560 2,663,417
Net current assets 3,630,133 3,141,693
Total assets less current liabilities 4,212,377 3,794,842

Capital and reserves
Called up share capital 17 100 100
Retained earnings 18 4,212,277 3,794,742
Shareholders' funds 4,212,377 3,794,842

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





C Heenighan - Director


DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 4,523,813 4,523,913

Changes in equity
Total comprehensive income - (729,071 ) (729,071 )
Balance at 31 March 2023 100 3,794,742 3,794,842

Changes in equity
Total comprehensive income - 417,535 417,535
Balance at 31 March 2024 100 4,212,277 4,212,377

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Darts Corner 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. Statement of compliance

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" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions on stock. The stock provision is calculated based on the age of the stock and the expected selling price required for the goods to sell. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any critical judgements in applying the company's accounting policies. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will by definition, seldom equal the actual results.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of darts, related product and associated delivery costs. Turnover is shown net of sales / value added tax , returns and discounts. The entity recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the group's activities. Turnover is recognised upon dispatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, 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.

Development costs are being amortised evenly over their estimated useful life of ten years. No amortisation is charged in the year of acquisition.

Computer software is being amortised evenly over its estimated life of 2 and 4 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 - No charge
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, including trade and other debtors and cash and bank, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies 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 receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Dividends
Dividends and other distributions to the company's shareholder are recognised as a liability in the financial statements in the period in which the dividends and the other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

4. Turnover

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Sale of dart products 16,997,992 13,877,199
16,997,992 13,877,199

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 9,155,971 6,366,159
Europe 5,421,235 5,440,465
North America 1,820,903 1,271,233
Rest of the World 599,883 799,342
16,997,992 13,877,199

5. Employees and directors
2024 2023
£    £   
Wages and salaries 2,124,811 1,901,177
Social security costs 184,987 199,148
Other pension costs 38,078 38,382
2,347,876 2,138,707

The average number of employees during the year was as follows:
2024 2023

Warehouse 34 45
Administration 29 26
63 71

2024 2023
£    £   
Directors' remuneration 264,676 243,200

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. Employees and directors - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 -

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 103,689 103,200

6. Operating profit/(loss)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Other operating leases 5,283 5,542
Depreciation - owned assets 52,877 44,925
Goodwill amortisation 26,136 26,140
Development costs amortisation 3,985 3,985
Computer software amortisation 73,644 150,148
Auditors' remuneration 18,500 17,000

7. Interest payable and similar expenses
2024 2023
£    £   
Interest payable - 5,761
Foreign currency (gains)/ losses (39,054 ) (4,993 )
(39,054 ) 768

8. Taxation

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Deferred tax 187,948 (294,105 )
Tax on profit/(loss) 187,948 (294,105 )

UK corporation tax has been charged at 25% .

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. Taxation - continued

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit/(loss) before tax 605,483 (1,023,176 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

151,371

(194,403

)

Effects of:
Expenses not deductible for tax purposes 3,391 1,556
Capital allowances in excess of depreciation - (17,269 )
Depreciation in excess of capital allowances 21,257 -
Utilisation of tax losses (176,019 ) -
Losses carried forward - 210,116
Deferred tax 187,948 (294,105 )
Total tax charge/(credit) 187,948 (294,105 )

The entity has £521,123 (2023: £1,238,856) of losses available that will be relieved at the new corporate tax rate of 25%.

The forecasts for future taxable profits show sufficient profits will be made that the deferred tax asset will reverse against.

9. Intangible fixed assets
Development Computer
Goodwill costs software Totals
£    £    £    £   
Cost
At 1 April 2023
and 31 March 2024 261,401 39,854 294,558 595,813
Amortisation
At 1 April 2023 110,791 3,985 90,264 205,040
Amortisation for year 26,136 3,985 73,644 103,765
At 31 March 2024 136,927 7,970 163,908 308,805
Net book value
At 31 March 2024 124,474 31,884 130,650 287,008
At 31 March 2023 150,610 35,869 204,294 390,773

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. Tangible fixed assets
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
Cost
At 1 April 2023 29,045 350,840 111,556 491,441
Additions - 81,605 4,132 85,737
At 31 March 2024 29,045 432,445 115,688 577,178
Depreciation
At 1 April 2023 - 169,580 59,485 229,065
Charge for year - 38,179 14,698 52,877
At 31 March 2024 - 207,759 74,183 281,942
Net book value
At 31 March 2024 29,045 224,686 41,505 295,236
At 31 March 2023 29,045 181,260 52,071 262,376

11. Stocks
2024 2023
£    £   
Finished goods 3,722,606 3,606,795

The finished goods include a stock provision of£211,537 (2023: £662,019).

12. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 705,920 433,471
Provision for bad debts (23,528 ) (25,000 )
Amounts owed by group undertakings 241,820 226,846
Other debtors 86,601 17,610
Tax - 53,131
Deferred tax asset 56,472 244,420
Prepayments 298,845 206,282
1,366,130 1,156,760

Deferred tax asset
2024 2023
£    £   
Accelerated capital allowances (73,809 ) (65,294 )
Tax losses carried forward 130,281 309,714
56,472 244,420

The entity has £521,123 (2023: £1,238,856) of losses available that will be relieved at the new corporate tax rate of 25%.

The forecasts for future taxable profits show sufficient profits will be made that the deferred tax asset will reverse against.

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


13. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 1,342,863 778,930
Trade creditors 1,446,238 1,101,761
Amounts owed to group undertakings 246,731 138,672
Social security and other taxes - 51,313
VAT 332,176 309,759
Other creditors 16,058 87,525
Directors' current accounts - 361
Accruals and deferred income 216,494 195,096
3,600,560 2,663,417

14. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 51,901 129,611
Bank loans 1,290,962 649,319
1,342,863 778,930

15. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 51,901 129,611
Bank loans 1,290,962 649,319
1,342,863 778,930

The loans are secured by; way of a first legal mortgage over the properties and all premises and fixtures and on each of the properties, by way of a first fixed charge over all assets of the group , by way of a floating charge over all assets and undertakings of the group, and by way of negative pledge.

16. Deferred tax
£   
Balance at 1 April 2023 (244,420 )
Provided during year 8,515
Utilised during year 179,433
Balance at 31 March 2024 (56,472 )

The entity has £521,123 (2023: £1,238,856) of losses available that will be relieved at the new corporate tax rate of 25%.

The forecasts for future taxable profits show sufficient profits will be made that the deferred tax asset will reverse against.

DARTS CORNER LTD (REGISTERED NUMBER: 06059355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


17. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

18. Reserves
Retained
earnings
£   

At 1 April 2023 3,794,742
Profit for the year 417,535
At 31 March 2024 4,212,277

19. Pension commitments

The company operates a defined contributions 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 amount to £38,077 (2023: £39,077). Contributions totalling £15,696 (2023: £7,418) were payable to the fund at the balance sheet date.

20. Contingent liabilities

The owners of the loan notes holds a cross guarantee between Darts Corner Holdings Limited, Darts Corner Limited and Perfect Darts Limited. The amount guaranteed was £16,942,237 (2023: £15,675,220).

21. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Management charges 67,847 67,072
Amount due to related party - 20,107

22. Ultimate controlling party

The ultimate parent undertaking is Key Capital Partners LLP. The smallest group to consolidate these financial statements is Darts Corner Holdings Limited. Consolidated financial statements can be obtained from Harewood House, Union Road, Bolton, England, BL2 2H.