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REGISTERED NUMBER: 03476404 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

JLS Sport Ltd

JLS Sport Ltd (Registered number: 03476404)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JLS Sport Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S J Bunn
J G Bunn
Mrs J L Dyer
Mrs L J Hebden





REGISTERED OFFICE: 21 Ridgeway Avenue
Littleover
Derby
DE23 1GD





REGISTERED NUMBER: 03476404 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

JLS Sport Ltd (Registered number: 03476404)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,890 23,566
Investment property 6 400,000 400,000
434,890 423,566

CURRENT ASSETS
Stocks 21,000 22,000
Debtors 7 160,804 6,914
Cash at bank and in hand 86,418 214,879
268,222 243,793
CREDITORS
Amounts falling due within one year 8 189,504 216,611
NET CURRENT ASSETS 78,718 27,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

513,608

450,748

PROVISIONS FOR LIABILITIES 31,578 29,426
NET ASSETS 482,030 421,322

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 190,000 190,000
Retained earnings 291,930 231,222
SHAREHOLDERS' FUNDS 482,030 421,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

JLS Sport Ltd (Registered number: 03476404)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





J G Bunn - Director


JLS Sport Ltd (Registered number: 03476404)

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

1. STATUTORY INFORMATION

JLS Sport Ltd 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.


JLS Sport Ltd (Registered number: 03476404)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023
and 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

JLS Sport Ltd (Registered number: 03476404)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 5,386 19,563 16,000 3,801 44,750
Additions - 18,200 - - 18,200
At 31 March 2024 5,386 37,763 16,000 3,801 62,950
DEPRECIATION
At 1 April 2023 4,385 7,924 7,000 1,875 21,184
Charge for year 200 4,041 2,250 385 6,876
At 31 March 2024 4,585 11,965 9,250 2,260 28,060
NET BOOK VALUE
At 31 March 2024 801 25,798 6,750 1,541 34,890
At 31 March 2023 1,001 11,639 9,000 1,926 23,566

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 400,000
NET BOOK VALUE
At 31 March 2024 400,000
At 31 March 2023 400,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 190,000
Cost 210,000
400,000

The investment properties were valued on an open market basis on 31st March 2023 by the directors.

JLS Sport Ltd (Registered number: 03476404)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 24 -
Amounts owed by group undertakings 155,238 -
Other debtors 5,542 6,914
160,804 6,914

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 127,637 154,100
Taxation and social security 15,990 16,996
Other creditors 45,877 45,515
189,504 216,611

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year - 14,732

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 190,000