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REGISTERED NUMBER: SC260637 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RJM SPORTS LTD.

RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)






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


RJM SPORTS LTD.

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mrs J Marshall
R A Marshall





SECRETARY: Mrs J Marshall





REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS





REGISTERED NUMBER: SC260637 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)

BALANCE SHEET
31 December 2023

31.12.22 31.12.23
£ £ Notes £ £
FIXED ASSETS
13,933 Intangible assets 5 8,467
38,030 Tangible assets 6 26,040
51,963 34,507

CURRENT ASSETS
305,000 Stocks 285,000
64,385 Debtors 7 119,968
97,008 Cash at bank and in hand 133,664
466,393 538,632
CREDITORS
239,478 Amounts falling due within one year 8 278,369
226,915 NET CURRENT ASSETS 260,263
278,878 TOTAL ASSETS LESS CURRENT
LIABILITIES

294,770

CREDITORS
(117,491 ) Amounts falling due after more than one
year

9

(81,385

)

(3,969 ) PROVISIONS FOR LIABILITIES (3,969 )
157,418 NET ASSETS 209,416

CAPITAL AND RESERVES
1,000 Called up share capital 1,000
156,418 Retained earnings 208,416
157,418 SHAREHOLDERS' FUNDS 209,416

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.

RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





R A Marshall - Director


RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

RJM Sports Ltd. is a private company, limited by shares , registered in Scotland. 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. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover on ordinary activities of the company represents the amounts due for goods sold, measured at fair value, net of discounts and value added tax.
Sale of goods are recognised when the goods are delivered.

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 5 years, though no charge was applied in the year of purchase.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance
Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of any impairment loss.

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 cost of purchase.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its anticipated selling price less costs to complete and sell.


RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilties are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown withing borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Other
intangible
Totals Goodwill assets
£ £ £
COST
At 1 January 2023 30,902 10,002 20,900
Additions 2,250 - 2,250
At 31 December 2023 33,152 10,002 23,150
AMORTISATION
At 1 January 2023 16,969 10,002 6,967
Charge for year 7,716 - 7,716
At 31 December 2023 24,685 10,002 14,683
NET BOOK VALUE
At 31 December 2023 8,467 - 8,467
At 31 December 2022 13,933 - 13,933

6. TANGIBLE FIXED ASSETS
Improvements Motor Computer
Totals to property Equipment vehicles equipment
£ £ £ £ £
COST
At 1 January 2023 89,615 449 53,721 20,250 15,195
Additions 175 - 175 - -
At 31 December 2023 89,790 449 53,896 20,250 15,195
DEPRECIATION
At 1 January 2023 51,585 112 37,223 8,859 5,391
Charge for year 12,165 84 4,169 2,848 5,064
At 31 December 2023 63,750 196 41,392 11,707 10,455
NET BOOK VALUE
At 31 December 2023 26,040 253 12,504 8,543 4,740
At 31 December 2022 38,030 337 16,498 11,391 9,804

RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 January 2023
and 31 December 2023 20,250
DEPRECIATION
At 1 January 2023 8,859
Charge for year 2,848
At 31 December 2023 11,707
NET BOOK VALUE
At 31 December 2023 8,543
At 31 December 2022 11,391

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 80,545 31,916
Amounts owed by associates 24,098 23,943
VAT - 3,031
Prepayments and accrued income 15,325 5,495
119,968 64,385

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Hire purchase contracts 2,926 2,926
Trade creditors 163,462 120,982
Taxation and social security 34,640 16,215
Other creditors 77,341 99,355
278,369 239,478

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£ £
Bank loans 77,240 110,420
Hire purchase contracts 4,145 7,071
81,385 117,491

RJM SPORTS LTD. (REGISTERED NUMBER: SC260637)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£ £
Hire purchase contracts 7,071 -

Atom Plc holds a bond and floating charge over the assets of the company.

11. RELATED PARTY DISCLOSURES

At the year end there was an amount of £28,772 (2022 £45,455) due to the directors. This amount has no fixed repayment term.

Total dividends of £12,000 (2022 £10,000) were paid to Grant Marshall, son of the directors. At the year end, £237 (2022 £237) was due to him. This amount is interest free and has no fixed repayment term.

At the year end there was an balance of £24,098 (2022 £23,943) due from a company in which the directors are shareholders. This amount was interest free and and had no fixed repayment term.

12. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.