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REGISTERED NUMBER: 09729991 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Y1 Sport Limited

Y1 Sport Limited (Registered number: 09729991)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Y1 Sport Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: Mr T R Carson
Mr C R Rea





REGISTERED OFFICE: 2nd Floor, Fairbank House
27 Ashley Road
Altrincham
Cheshire
WA142DP





REGISTERED NUMBER: 09729991 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
2nd Floor Fairbank House
27 Ashley Road
Altrincham
Cheshire
WA14 2DP

Y1 Sport Limited (Registered number: 09729991)

Balance Sheet
30 April 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 24,038 25,958

CURRENT ASSETS
Stocks 311,993 228,081
Debtors 5 314,652 268,399
Cash at bank 407,097 235,734
1,033,742 732,214
CREDITORS
Amounts falling due within one year 6 (417,496 ) (467,186 )
NET CURRENT ASSETS 616,246 265,028
TOTAL ASSETS LESS CURRENT LIABILITIES 640,284 290,986

CREDITORS
Amounts falling due after more than one year 7 (134,686 ) (139,938 )

PROVISIONS FOR LIABILITIES (6,010 ) (2,282 )
NET ASSETS 499,588 148,766

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 499,488 148,666
499,588 148,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 22 October 2024 and were signed on its behalf by:





Mr C R Rea - Director


Y1 Sport Limited (Registered number: 09729991)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Y1 Sport 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment - 5% straight line
Fixtures and fittings - 25% reducing balance
Computers - 25% straight line
Motor vehicles - 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Y1 Sport Limited (Registered number: 09729991)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 14 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 May 2023 15,500 1,500 14,995 11,219 43,214
Additions - - - 3,022 3,022
At 30 April 2024 15,500 1,500 14,995 14,241 46,236
DEPRECIATION
At 1 May 2023 1,550 656 8,311 6,739 17,256
Charge for year 775 211 1,671 2,285 4,942
At 30 April 2024 2,325 867 9,982 9,024 22,198
NET BOOK VALUE
At 30 April 2024 13,175 633 5,013 5,217 24,038
At 30 April 2023 13,950 844 6,684 4,480 25,958

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 215,563 116,487
Other debtors 99,089 151,912
314,652 268,399

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 5,556 5,556
Trade creditors 126,591 114,444
Taxation and social security 189,501 68,675
Other creditors 95,848 278,511
417,496 467,186

Included in bank loans and overdrafts is a unsecured loan amounting to £5,556 (2023; £5,556)

Included in other creditors are secured loans amounting to £nil (2023; £105,930) which are secured against the receivables of the company.

Y1 Sport Limited (Registered number: 09729991)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 29,329 34,581
Other creditors 105,357 105,357
134,686 139,938

Included in bank loans is an unsecured loan amounting to £29,329 (2023 - £34,581)

Included in other creditors is a loan from the parent company amounting to £105,357 (2023 - £105,357)

8. RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Amounts due to related Parties 2024 2023
£    £   

Directors 52,372 74,918
Y1 Group Limited 105,357 105,357
Other related parties 20,000 90,000

Y1 Group Limited is the parent company.

9. PARENT COMPANY

The company is controlled by Y1 Group Limited, a company registered in England and Wales. There registered office is 2nd Floor, Fairbank House, Altrincham, Cheshire, WA14 2DP.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Y1 Sport Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Y1 Sport Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Y1 Sport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Y1 Sport Limited and state those matters that we have agreed to state to the Board of Directors of Y1 Sport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Y1 Sport Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Y1 Sport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Y1 Sport Limited. You consider that Y1 Sport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Y1 Sport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks & Co Ltd
Chartered Accountants
2nd Floor Fairbank House
27 Ashley Road
Altrincham
Cheshire
WA14 2DP


22 October 2024