IRIS Accounts Production v24.2.0.383 10628253 director 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106282532023-02-28106282532024-02-29106282532023-03-012024-02-29106282532022-02-28106282532022-03-012023-02-28106282532023-02-2810628253ns15:EnglandWales2023-03-012024-02-2910628253ns14:PoundSterling2023-03-012024-02-2910628253ns10:Director12023-03-012024-02-2910628253ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2910628253ns10:SmallEntities2023-03-012024-02-2910628253ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2910628253ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2910628253ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2910628253ns10:FullAccounts2023-03-012024-02-2910628253ns10:OrdinaryShareClass12023-03-012024-02-2910628253ns10:RegisteredOffice2023-03-012024-02-2910628253ns5:CurrentFinancialInstruments2024-02-2910628253ns5:CurrentFinancialInstruments2023-02-2810628253ns5:Non-currentFinancialInstruments2024-02-2910628253ns5:Non-currentFinancialInstruments2023-02-2810628253ns5:ShareCapital2024-02-2910628253ns5:ShareCapital2023-02-2810628253ns5:RetainedEarningsAccumulatedLosses2024-02-2910628253ns5:RetainedEarningsAccumulatedLosses2023-02-2810628253ns5:LandBuildingsns5:ShortLeaseholdAssets2023-03-012024-02-2910628253ns5:FurnitureFittings2023-03-012024-02-2910628253ns5:MotorVehicles2023-03-012024-02-2910628253ns5:ComputerEquipment2023-03-012024-02-2910628253ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-2810628253ns5:FurnitureFittings2023-02-2810628253ns5:MotorVehicles2023-02-2810628253ns5:ComputerEquipment2023-02-2810628253ns5:LandBuildingsns5:ShortLeaseholdAssets2024-02-2910628253ns5:FurnitureFittings2024-02-2910628253ns5:MotorVehicles2024-02-2910628253ns5:ComputerEquipment2024-02-2910628253ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-2810628253ns5:FurnitureFittings2023-02-2810628253ns5:MotorVehicles2023-02-2810628253ns5:ComputerEquipment2023-02-2810628253ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2910628253ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2810628253ns10:OrdinaryShareClass12024-02-2910628253ns5:RetainedEarningsAccumulatedLosses2023-02-2810628253ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29
REGISTERED NUMBER: 10628253 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SZAMPION LIMITED

SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


SZAMPION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: A Ucur





REGISTERED OFFICE: 266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA





REGISTERED NUMBER: 10628253 (England and Wales)





ACCOUNTANTS: UCS Accountants
266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA

SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,391 108,146

CURRENT ASSETS
Stocks 5 184,240 188,620
Debtors 6 1,222,877 1,095,717
Cash at bank and in hand 4,113 29,348
1,411,230 1,313,685
CREDITORS
Amounts falling due within one year 7 245,541 228,802
NET CURRENT ASSETS 1,165,689 1,084,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,254,080

1,193,029

CREDITORS
Amounts falling due after more than one
year

8

-

5,541
NET ASSETS 1,254,080 1,187,488

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 1,254,078 1,187,486
SHAREHOLDERS' FUNDS 1,254,080 1,187,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





A Ucur - Director


SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Szampion Limited is a private company, limited by shares , registered in England and Wales. The company's registered number 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.

The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in pounds sterling, which is the functional currency of the company.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgement and estimates have been made include:

a - Critical judgements in applying accounting policies
There are no critical judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

b - Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no key estimates and assumptions that have significant potential impact upon the carrying values of assets and liabilities.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received.

However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

CASH AND CASH EQUIVALENTS.
Cash and cash equivalents include cash in hand and at bank. Bank overdrafts are shown within borrowings in current liabilities.

SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 35 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 16,212 217,277 30,995 6,257 270,741
Additions - 1,076 - - 1,076
At 29 February 2024 16,212 218,353 30,995 6,257 271,817
DEPRECIATION
At 1 March 2023 6,079 145,204 7,439 3,873 162,595
Charge for year 1,013 14,630 4,711 477 20,831
At 29 February 2024 7,092 159,834 12,150 4,350 183,426
NET BOOK VALUE
At 29 February 2024 9,120 58,519 18,845 1,907 88,391
At 28 February 2023 10,133 72,073 23,556 2,384 108,146

5. STOCKS
29.2.24 28.2.23
£    £   
Stocks 184,240 188,620

6. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Ziarenka Limited 70,000 70,000
Ucur Properties Limited 706,495 430,000
Oilex Limited 281,510 175,000
Directors' current accounts 43,260 292,315
Tax 91,612 95,108
VAT - 3,294
1,192,877 1,065,717

Amounts falling due after more than one year:
Rent deposits 30,000 30,000

Aggregate amounts 1,222,877 1,095,717

SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 9) 73,018 -
Hire purchase contracts 5,542 7,390
Trade creditors 118,736 184,888
Tax 29,476 10,858
Social security and other taxes 7,414 8,758
VAT 2,403 -
Pension fund 3,902 11,958
Accrued expenses 5,050 4,950
245,541 228,802

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts - 5,541

9. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 73,018 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
2 Ordinary £1.00 2 2

11. RESERVES
Retained
earnings
£   

At 1 March 2023 1,187,486
Profit for the year 78,815
Dividends (12,223 )
At 29 February 2024 1,254,078

SZAMPION LIMITED (REGISTERED NUMBER: 10628253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has borrowings from the company by way of a current account shown in current assets. Interest is receivable on the loan at the rate of 3% pa. Balance outstanding at end of year 28 February 2024 was £43,260 (2023:£292,315). Interest received during the year was £1,260 (2023: £8,514).

13. RELATED PARTY DISCLOSURES

Included in debtors £70,000 (2023: £70,000) represents loans made to Ziarenka Limited in which Mr A Ucur is also a director and 50% shareholder. This is an interest free and unsecured loan having no fixed date of repayment.

Included in debtors £706,495 (2023: £430,000) represents loans made to Ucur Properties Limited in which Mr A Ucur is also a director and 50% shareholder. This is an interest free and unsecured loan having no fixed date of repayment.

Included in debtors £281,510 (2023: £175,000) represents loans made to Oilex Limited in which Mr A Ucur is also a director and 50% shareholder. This is an interest free and unsecured loan having no fixed date of repayment.

14. ULTIMATE CONTROLLING PARTY

The controlling party is A Ucur.