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Registration number: 11166505

Amos Sport Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Amos Sport Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Amos Sport Ltd

(Registration number: 11166505)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,866

17,708

Current assets

 

Stocks

5

1,521,726

972,983

Debtors

6

75,142

187,794

Cash at bank and in hand

 

772

8,654

 

1,597,640

1,169,431

Creditors: Amounts falling due within one year

7

(4,552,426)

(3,133,902)

Net current liabilities

 

(2,954,786)

(1,964,471)

Net liabilities

 

(2,948,920)

(1,946,763)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(2,949,020)

(1,946,863)

Shareholders' deficit

 

(2,948,920)

(1,946,763)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
J M Sponer
Director

 

Amos Sport Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ascot Stud Farm
Coach Road
Ascot
SL5 8RY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At 31 December 2023 the company had net liabilities of £2,948,920 and net current liabilities of £2,954,786. Substantially all of the company's financial requirements have been met by J M Sponer a director of the company, who was owed £4,530,182 at 31 December 2023. J M Sponer has confirmed that she will continue to provide such financial support as is necessary to enable the company to meet its liabilities as they fall due and these accounts have therefore been prepared on the going concern basis, which assumes that this will be the case.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Amos Sport Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% straight line

Office equipment

20% straight line

Plant and machinery

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Amos Sport Ltd

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

6,086

2,211

62,410

70,707

Additions

1,100

1,048

-

2,148

At 31 December 2023

7,186

3,259

62,410

72,855

Depreciation

At 1 January 2023

1,556

1,515

49,928

52,999

Charge for the year

1,236

272

12,482

13,990

At 31 December 2023

2,792

1,787

62,410

66,989

Carrying amount

At 31 December 2023

4,394

1,472

-

5,866

At 31 December 2022

4,530

696

12,482

17,708

 

Amos Sport Ltd

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

5

Stocks

2023
£

2022
£

Bloodstock

1,518,561

969,818

Deadstock

3,165

3,165

1,521,726

972,983

6

Debtors

2023
£

2022
£

Other debtors

73,520

61,237

Prepayments

1,622

126,557

75,142

187,794

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

19,502

8,665

Taxation and social security

-

601

Other creditors

4,532,924

3,124,636

4,552,426

3,133,902

 

Amos Sport Ltd

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

8

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances from director
£

At 31 December 2023
£

J M Sponer

(3,120,749)

(1,409,433)

(4,530,182)

2022

At 1 January 2022
£

Advances from director
£

At 31 December 2022
£

J M Sponer

(2,661,367)

(459,382)

(3,120,749)