ATBSHOP LTD 07918800 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is retail, including internet sales, of sports goods and accessories. Digita Accounts Production Advanced 6.30.9574.0 true 07918800 2023-02-01 2024-01-31 07918800 2024-01-31 07918800 core:RetainedEarningsAccumulatedLosses 2024-01-31 07918800 core:ShareCapital 2024-01-31 07918800 core:CurrentFinancialInstruments 2024-01-31 07918800 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 07918800 core:Non-currentFinancialInstruments 2024-01-31 07918800 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 07918800 core:Goodwill 2024-01-31 07918800 core:BetweenTwoFiveYears 2024-01-31 07918800 core:WithinOneYear 2024-01-31 07918800 core:FurnitureFittings 2024-01-31 07918800 bus:SmallEntities 2023-02-01 2024-01-31 07918800 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07918800 bus:FilletedAccounts 2023-02-01 2024-01-31 07918800 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07918800 bus:RegisteredOffice 2023-02-01 2024-01-31 07918800 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 07918800 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07918800 core:Goodwill 2023-02-01 2024-01-31 07918800 core:FurnitureFittings 2023-02-01 2024-01-31 07918800 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 07918800 countries:EnglandWales 2023-02-01 2024-01-31 07918800 2023-01-31 07918800 core:Goodwill 2023-01-31 07918800 core:FurnitureFittings 2023-01-31 07918800 2022-02-01 2023-01-31 07918800 2023-01-31 07918800 core:RetainedEarningsAccumulatedLosses 2023-01-31 07918800 core:ShareCapital 2023-01-31 07918800 core:CurrentFinancialInstruments 2023-01-31 07918800 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 07918800 core:Non-currentFinancialInstruments 2023-01-31 07918800 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 07918800 core:BetweenTwoFiveYears 2023-01-31 07918800 core:WithinOneYear 2023-01-31 07918800 core:FurnitureFittings 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 07918800

ATBSHOP LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

ATBSHOP LTD

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

ATBSHOP LTD

(Registration number: 07918800)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

9,412

6,533

Current assets

 

Stocks

6

195,344

250,325

Debtors

7

13,919

5,628

Cash at bank and in hand

 

7,814

29,161

 

217,077

285,114

Creditors: Amounts falling due within one year

8

(168,963)

(225,108)

Net current assets

 

48,114

60,006

Total assets less current liabilities

 

57,526

66,539

Creditors: Amounts falling due after more than one year

8

(16,667)

(26,667)

Provisions for liabilities

(1,788)

(1,633)

Net assets

 

39,071

38,239

Capital and reserves

 

Called up share capital

100

100

Retained earnings

38,971

38,139

Shareholders' funds

 

39,071

38,239

 

ATBSHOP LTD

(Registration number: 07918800)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 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 9 October 2024 and signed on its behalf by:
 

.........................................
Mr S J Kirk
Company secretary and director

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Unit 2 Glenmore Business Park
Southmead Close
Westmead
Swindon
Wiltshire
SN5 7FP

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.

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 value added tax, and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliabily, it is probable that the economic benefits associated with the trasaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliabily.

Government grants

Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.

Tax

The tax expense represents the sum of the tax currently payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

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

Fixtures, fittings and equipment

Straight line basis over 5 years.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line basis over 5 years.

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.

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

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.

Employee benefit

The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

140,000

140,000

At 31 January 2024

140,000

140,000

Amortisation

At 1 February 2023

140,000

140,000

At 31 January 2024

140,000

140,000

Carrying amount

At 31 January 2024

-

-

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2023

94,920

94,920

Additions

5,055

5,055

Disposals

(69,585)

(69,585)

At 31 January 2024

30,390

30,390

Depreciation

At 1 February 2023

88,389

88,389

Charge for the year

2,174

2,174

Eliminated on disposal

(69,585)

(69,585)

At 31 January 2024

20,978

20,978

Carrying amount

At 31 January 2024

9,412

9,412

At 31 January 2023

6,533

6,533

6

Stocks

2024
£

2023
£

Goods for resale

195,344

250,325

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,758

398

Prepayments

11,996

5,230

Other debtors

165

-

 

13,919

5,628

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

10,000

10,000

Trade creditors

 

30,633

39,308

Taxation and social security

 

1,774

23,820

Other creditors

 

126,556

151,980

 

168,963

225,108

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

16,667

26,667

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

16,500

-

Later than one year and not later than five years

64,258

-

80,758

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,742 (2023 - £Nil).

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

10,000

10,000

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

16,667

26,667

11

Related party transactions

Other transactions with directors

Rent of £28,500 (2023 £30,000) was payable to Mr S Kirk and Mrs D M Kirk for the use of premises at Unit 1 Newcombe Drive, Swindon, Wiltshire.

Amounts owed by the company to the directors at 31 January 2024 amounted to:
Mr S Kirk £58,337 (2023 £80,800)
Mrs D M Kirk £63,198 (2023 £95,040)