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Registration number: 03370067

Sportsafe UK Ltd

Annual Report and Financial Statements

for the Year Ended 31 March 2024

 

Sportsafe UK Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Sportsafe UK Ltd

Company Information

Directors

A G Wilkins

O J B Esteves

J S Ferrier

Registered office

Unit 17-19 Smeaton Close
Severalls Industrial Park
Colchester
Essex
CO4 9QY

Auditors

Ballards LLP
Statutory Auditors, Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Sportsafe UK Ltd

(Registration number: 03370067)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

78,841

92,668

Tangible assets

5

273,450

292,637

 

352,291

385,305

Current assets

 

Stocks

391,588

617,734

Debtors

6

1,858,722

1,997,367

Cash at bank and in hand

 

6,399

54,891

 

2,256,709

2,669,992

Creditors: Amounts falling due within one year

7

(2,693,565)

(3,191,260)

Net current liabilities

 

(436,856)

(521,268)

Total assets less current liabilities

 

(84,565)

(135,963)

Provisions for liabilities

(12,541)

(29,500)

Net liabilities

 

(97,106)

(165,463)

Capital and reserves

 

Called up share capital

2,701

2,701

Capital redemption reserve

300

300

Retained earnings

(100,107)

(168,464)

Shareholders' deficit

 

(97,106)

(165,463)

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 30 September 2024 and signed on its behalf by:
 

.........................................
A G Wilkins
Director

   
 

Sportsafe UK Ltd

Notes to the Financial Statements for the Year Ended 31 March 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 17-19 Smeaton Close
Severalls Industrial Park
Colchester
Essex
CO4 9QY
England

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

These financial statements are prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseable future. The parent company and group have confirmed in writing they intend to support the company for a period of at least 12 months from the date of signing of these financial statements.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 September 2024 was Andy Bewick FCCA, who signed for and on behalf of Ballards LLP.

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.

The company 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 company's activities.

 

Sportsafe UK Ltd

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

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

Short leasehold

Straight line over the period of the lease

Plant and machinery

25% Straight line

Fixtures and fittings

25% Straight line

Motor vehicles

20% Straight line

Tools

20% Straight line

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

Customer relationships

10 years straight line

Computer software

4 years 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.

 

Sportsafe UK Ltd

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

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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 67 (2023 - 70).

 

Sportsafe UK Ltd

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

4

Intangible assets

Internally generated software development costs
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

143,498

84,557

228,055

Additions acquired separately

14,175

-

14,175

At 31 March 2024

157,673

84,557

242,230

Amortisation

At 1 April 2023

89,480

45,907

135,387

Amortisation charge

19,547

8,455

28,002

At 31 March 2024

109,027

54,362

163,389

Carrying amount

At 31 March 2024

48,646

30,195

78,841

At 31 March 2023

54,018

38,650

92,668

 

Sportsafe UK Ltd

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

242,430

55,511

27,889

272,392

598,222

Additions

2,325

3,987

-

41,471

47,783

At 31 March 2024

244,755

59,498

27,889

313,863

646,005

Depreciation

At 1 April 2023

19,690

38,445

5,963

241,487

305,585

Charge for the year

32,574

6,873

3,578

23,945

66,970

At 31 March 2024

52,264

45,318

9,541

265,432

372,555

Carrying amount

At 31 March 2024

192,491

14,180

18,348

48,431

273,450

At 31 March 2023

222,740

17,066

21,926

30,905

292,637

Included within the net book value of land and buildings above is £192,491 (2023 - £222,740) in respect of short leasehold land and buildings.
 

6

Debtors

2024
£

2023
£

Trade debtors

1,352,980

1,478,549

Amounts due on long term contracts

188,106

213,289

Prepayments

209,367

191,792

Other debtors

108,269

113,737

1,858,722

1,997,367

 

Sportsafe UK Ltd

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

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

705,149

841,282

Amounts owed to related parties

9

1,460,330

1,862,619

Taxation and social security

 

313,823

294,678

Other creditors

 

214,263

192,681

 

2,693,565

3,191,260

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,154,061 (2023 - £1,231,357). This relates to property, motor vehicle and office equipment leases.

9

Related party transactions

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

10

Parent and ultimate parent undertaking

The company's immediate parent is JFS B.V, incorporated in The Netherlands.

 The ultimate parent is Abeo S.A., incorporated in France.

 The most senior parent entity producing publicly available financial statements is Abeo S.A.. These financial statements are available upon request from Greffe du Tribunal de Commerce de Vesoul-Gray, 20, rue Didon - 70000 VESOUL - FRANCE