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REGISTERED NUMBER: 09283528 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

Canoe & Kayak Distribution Limited

Canoe & Kayak Distribution Limited (Registered number: 09283528)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Canoe & Kayak Distribution Limited

COMPANY INFORMATION
for the year ended 31 December 2023







Directors: Mr C B Dyer
Mr S D Longdon
Mrs J Dyer
Mrs H Longdon





Registered office: Unit 1 & 2 Richmond Place
Central Avenue
Lee Mill Industrial Estate
Ivybridge
Devon
PL21 9RL





Business address: Unit 18 Eddystone Road
South Hampshire Industrial Park
Totton
Southampton
Hampshire
SO40 3SA





Registered number: 09283528 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Canoe & Kayak Distribution Limited (Registered number: 09283528)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 6,523 11,330

Current assets
Stocks 143,673 268,513
Debtors 5 1,210,571 1,127,603
Cash at bank and in hand 171,342 149,529
1,525,586 1,545,645
Creditors
Amounts falling due within one year 6 1,457,649 1,452,168
Net current assets 67,937 93,477
Total assets less current liabilities 74,460 104,807

Provisions for liabilities 7 1,650 2,800
Net assets 72,810 102,007

Capital and reserves
Called up share capital 8 1 1
Retained earnings 72,809 102,006
Shareholders' funds 72,810 102,007

Canoe & Kayak Distribution Limited (Registered number: 09283528)

BALANCE SHEET - continued
31 December 2023


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.

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mr C B Dyer - Director


Canoe & Kayak Distribution Limited (Registered number: 09283528)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Canoe & Kayak Distribution Limited is a private company, limited by shares , registered in England and Wales. The company's registered number, business address 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 receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of goods have transferred to the buyer.

Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Fixtures and fittings- straight line over primary period of lease
Equipment- 15% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

Canoe & Kayak Distribution Limited (Registered number: 09283528)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

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.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Canoe & Kayak Distribution Limited (Registered number: 09283528)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
Cost
At 1 January 2023
and 31 December 2023 14,985
Depreciation
At 1 January 2023 3,655
Charge for year 4,807
At 31 December 2023 8,462
Net book value
At 31 December 2023 6,523
At 31 December 2022 11,330

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,210,571 1,127,603

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 42,725 15,339
Amounts owed to group undertakings 1,377,730 1,316,801
Taxation and social security 16,348 7,819
Other creditors 20,846 112,209
1,457,649 1,452,168

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,650 2,800

Deferred
tax
£   
Balance at 1 January 2023 2,800
Provided during year (1,150 )
Balance at 31 December 2023 1,650

Canoe & Kayak Distribution Limited (Registered number: 09283528)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary share £1 1 1

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is £60,000 (2022 - £256,500). This represents rent payable to 31st March 2025.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 were paid to the holding company.

11. ULTIMATE CONTROLLING PARTY

Canoe & Kayak Distribution Limited is a 100% subsidiary of Canoe Shops UK (2014) Limited, registered office Unit 1&2, Richmond Place, Central Avenue, Lee Mill Industrial Estate, Ivybridge, Devon, PL21 9RL.

The ultimate controlling party is C B Dyer, Mrs J Dyer, S D Longdon and Mrs H Longdon by virtue of their 100% shareholding in Canoe Shops UK (2014) Limited.