Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01falseRetail of country clothing and sports equipment2628truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01437266 2023-02-01 2024-01-31 01437266 2022-02-01 2023-01-31 01437266 2024-01-31 01437266 2023-01-31 01437266 c:Director1 2023-02-01 2024-01-31 01437266 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 01437266 d:Buildings d:LongLeaseholdAssets 2024-01-31 01437266 d:Buildings d:LongLeaseholdAssets 2023-01-31 01437266 d:MotorVehicles 2023-02-01 2024-01-31 01437266 d:MotorVehicles 2024-01-31 01437266 d:MotorVehicles 2023-01-31 01437266 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01437266 d:FurnitureFittings 2023-02-01 2024-01-31 01437266 d:FurnitureFittings 2024-01-31 01437266 d:FurnitureFittings 2023-01-31 01437266 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01437266 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01437266 d:CurrentFinancialInstruments 2024-01-31 01437266 d:CurrentFinancialInstruments 2023-01-31 01437266 d:Non-currentFinancialInstruments 2024-01-31 01437266 d:Non-currentFinancialInstruments 2023-01-31 01437266 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 01437266 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01437266 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 01437266 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 01437266 d:ShareCapital 2024-01-31 01437266 d:ShareCapital 2023-01-31 01437266 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 01437266 d:RetainedEarningsAccumulatedLosses 2024-01-31 01437266 d:RetainedEarningsAccumulatedLosses 2023-01-31 01437266 c:OrdinaryShareClass1 2023-02-01 2024-01-31 01437266 c:OrdinaryShareClass1 2024-01-31 01437266 c:OrdinaryShareClass1 2023-01-31 01437266 c:FRS102 2023-02-01 2024-01-31 01437266 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 01437266 c:FullAccounts 2023-02-01 2024-01-31 01437266 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01437266 d:WithinOneYear 2024-01-31 01437266 d:WithinOneYear 2023-01-31 01437266 d:BetweenOneFiveYears 2024-01-31 01437266 d:BetweenOneFiveYears 2023-01-31 01437266 d:MoreThanFiveYears 2024-01-31 01437266 d:MoreThanFiveYears 2023-01-31 01437266 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 01437266











________________________________________________________________________________________


ROXTON SPORTING LIMITED

________________________________________________________________________________________



UNAUDITED

ANNUAL REPORT

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 
31 JANUARY 2024

 
ROXTON SPORTING LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
ROXTON SPORTING LIMITED
REGISTERED NUMBER:01437266

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
100,112
116,321

  
100,112
116,321

Current assets
  

Stocks
 5 
349,604
315,621

Debtors: amounts falling due within one year
 6 
26,633
27,403

Cash at bank and in hand
  
407,640
402,939

  
783,877
745,963

Creditors: amounts falling due within one year
 7 
(288,523)
(300,601)

Net current assets
  
 
 
495,354
 
 
445,362

Total assets less current liabilities
  
595,466
561,683

Creditors: amounts falling due after more than one year
 8 
(15,000)
(32,388)

  

Net assets
  
580,466
529,295


Capital and reserves
  

Called up share capital 
 9 
663,592
663,592

Profit and loss account
 10 
(83,126)
(134,297)

  
580,466
529,295


Page 1

 
ROXTON SPORTING LIMITED
REGISTERED NUMBER:01437266
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements on pages 1 to 10 were approved and authorised for issue by the board and were signed on its behalf on 22 October 2024.




A. W. Crawford
Director

Page 2

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies

 
1.1

Statement of compliance

The principal activity of the Company during the year was the retail of country clothing and sports equipment.  
Roxton Sporting Limited is a private company limited by shares and is incorporated and domiciled in England and Wales. The address of its registered office and principal place of business is 1 & 2 The New Finches, Baydon, Marlborough, Wiltshire, SN8 2XA.

  
1.2

Basis of preparation of financial statements

The financial statements have been prepared in accordance with United Kingdom Accounting Standards, including Section 1A 'Small Entities' of Financial Reporting Standard 102, ‘the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (“FRS 102”) and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The preparation of financial statements requires the use of certain critical accounting estimates.  It also requires management to exercise its judgement in the process of applying the Company's accounting policies.  The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2.

  
1.3

Revenue

Revenue is recognised to the extent that the Company obtains the right to consideration in exchange for its performance.  Revenue is measured at the fair value of the consideration received or receivable, net of discounts, rebates and value added tax.  The following criteria must also be met before revenue is recognised:
Sale of goods
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 delivery of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

  
1.4

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.  Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use and dismantling and restoration costs.
 
Depreciation is calculated, using the straight line method, to allocate the cost of assets less their residual value over their estimated useful lives, as follows:
                Leaseholding improvements      -   over the term of the lease 
                Motor vehicles     -   4 years
     Fixtures & fittings     -   over 2 to 10 years
The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.  The effect of any change is accounted for prospectively.
Subsequent costs are included in the assets’ carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the Company and the cost can be measured reliably.  Repairs and maintenance costs are expensed as incurred.
Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected.  On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Profit and Loss Account and included in ‘administrative expenses’.

  
1.5

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to sell. Stock is recognised as an expense in the period in which the related revenue is recognised. 
Cost is determined on the first-in, first-out (FIFO) method. Cost includes all costs incurred in bringing the stock to its present location and condition. 
At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to sell and an impairment charge is recognised in the Profit and Loss Account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the Profit and Loss Account.
 
Page 4

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

  
1.6

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the Profit and Loss Account in ‘administrative expenses’.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
Loans
Loans which are basic financial instruments are initially recorded at the present value of future payments discounted at a market rate of interest for a similar loan.  Subsequently, they are measured at amortised cost using the effective interest method.  Loans that are payable within one year are not discounted.
Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
1.7

Foreign currency translation

Functional and presentation currency
The Company's functional and presentation currency is the pound sterling.
 
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.  At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction.  Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account.
All foreign exchange gains and losses are presented in the Profit and Loss Account and included in 'administrative expenses'.

Page 5

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

  
1.8

Leases

At inception the Company assesses agreements that transfer the right to use assets.  The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.
Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases.  Rentals payable under operating leases are charged to the Profit and Loss Account on a straight line basis over the period of the lease.  Lease incentives are recognised over the lease term on a straight line basis.
 
Hire purchase and finance leases
Assets held under finance leases and hire purchase contracts, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Balance Sheet and are depreciated over the assets' useful lives. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the Balance Sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the Profit and Loss Account so as to achieve a constant rate of interest on the remaining balance of the liability.

  
1.9

Pensions

The Company contributes to a defined contribution plan for its employees.  A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity.  Once the contributions have been paid the Company has no further payment obligations.  The contributions are recognised as an expense when they are due.  Amounts not paid are shown in accruals in the balance sheet.  The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

  
1.10

Current and deferred taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Profit and Loss Account. Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
 
Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and profit on ordinary activities before taxation as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

  
1.11

Share capital

Ordinary shares are classified as equity.

  
1.12

Related party transactions

The Company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors separate disclosure is necessary to understand the effect of the transactions on the Company’s financial statements.


2.


Judgements in applying accounting policies

In preparing the financial statements management are required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.  However, the nature of estimation means that actual outcomes could differ from these estimates.  Whilst management have made judgements, estimates and assumptions in preparing the financial statements, they consider that these have not had a significant effect on amounts recognised.

Page 7

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 28).


4.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 February 2023
188,092
42,408
391,357
621,857


Disposals
-
-
(242,864)
(242,864)



At 31 January 2024

188,092
42,408
148,493
378,993



Depreciation


At 1 February 2023
74,380
39,799
391,357
505,536


Charge for the year
13,600
2,609
-
16,209


Disposals
-
-
(242,864)
(242,864)



At 31 January 2024

87,980
42,408
148,493
278,881



Net book value



At 31 January 2024
100,112
-
-
100,112



At 31 January 2023
113,712
2,609
-
116,321


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
349,604
315,621


Page 8

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
248
498

Other debtors
6,744
1,967

Prepayments and accrued income
19,641
24,938

26,633
27,403



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bounce back loan
10,000
10,000

Other loans
42,000
42,000

Trade creditors
33,069
52,679

Other taxation and social security
82,516
80,728

Obligations under finance lease and hire purchase contracts
7,993
3,812

Other creditors
32,510
24,443

Accruals and deferred income
80,435
86,939

288,523
300,601



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bounce back loan
15,000
25,000

Net obligations under finance leases and hire purchase contracts
-
7,388

15,000
32,388


The finance leases and hire purchase contracts are secured on the assets concerned.

Page 9

 
ROXTON SPORTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



663,592 (2023 - 663,592) Ordinary shares of £1.00 each
663,592
663,592



10.


Reserves

Profit and loss account

The profit & loss account represents accumulated losses.


11.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
96,000
100,375

Later than 1 year and not later than 5 years
294,000
324,000

Later than 5 years
176,000
234,500

566,000
658,875


12.


Related party transactions

During the year, the Company incurred interest charges from directors of the Company and their close family members of £3,291 (2023: £1,689). At the balance sheet date the Company owed the directors and their close family members £42,000 (2023: £42,000) and accrued interest of £6,703 (2023: £3,412).
 
 
Page 10