2023-02-012024-01-312024-01-31false09213526WHIRLWIND SPORTS 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WHIRLWIND SPORTS LIMITED

Registered Number
09213526
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

WHIRLWIND SPORTS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

BILLING, Craig
BILLING, Gary
BILLING, Laura Alyse
WILLIAMS, Tamsin
WOOD, Jonathan Ian

Company Secretary

WOOD, Jonathan Ian

Registered Address

Heather House
Pensilva
Liskeard
PL14 5PJ

Registered Number

09213526 (England and Wales)
WHIRLWIND SPORTS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets340,38450,480
Tangible assets422,59630,274
62,98080,754
Current assets
Stocks5864,162938,852
Debtors619,093435,390
Cash at bank and on hand47,60737,710
930,8621,411,952
Creditors amounts falling due within one year7(527,678)(1,010,902)
Net current assets (liabilities)403,184401,050
Total assets less current liabilities466,164481,804
Creditors amounts falling due after one year8(232,388)(237,417)
Net assets233,776244,387
Capital and reserves
Called up share capital1,0001,000
Profit and loss account232,776243,387
Shareholders' funds233,776244,387
The financial statements were approved and authorised for issue by the Board of Directors on 22 October 2024, and are signed on its behalf by:
BILLING, Craig
Director
Registered Company No. 09213526
WHIRLWIND SPORTS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
Whirlwind Sports Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office addresses can be found on the Company Information page.
Statement of compliance
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.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined benefit pension plan
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.
Current taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related 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 the 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.
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.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Reducing balance (%)Straight line (years)
Plant and machinery2015
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks are measured at the lower of the cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year2020
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 February 23100,959100,959
At 31 January 24100,959100,959
Amortisation and impairment
At 01 February 2350,47950,479
Charge for year10,09610,096
At 31 January 2460,57560,575
Net book value
At 31 January 2440,38440,384
At 31 January 2350,48050,480
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 February 2372,95572,955
Additions2,8102,810
At 31 January 2475,76575,765
Depreciation and impairment
At 01 February 2342,68142,681
Charge for year10,48810,488
At 31 January 2453,16953,169
Net book value
At 31 January 2422,59622,596
At 31 January 2330,27430,274
5.Stocks

2024

2023

££
Other stocks864,162938,852
Total864,162938,852
6.Debtors: amounts due within one year

2024

2023

££
Other debtors12,827426,759
Prepayments and accrued income6,2668,631
Total19,093435,390
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables79,958167,285
Bank borrowings and overdrafts154,666354,416
Taxation and social security92,02263,150
Other creditors93,618350,477
Accrued liabilities and deferred income107,41475,574
Total527,6781,010,902
8.Creditors: amounts due after one year

2024

2023

££
Other creditors232,388237,417
Total232,388237,417
9.Directors advances, credits and guarantees
Included in other creditors is a balance due to Craig Billing from the company of £6,693. Included in other creditors is a balance due to Gary Billing from the company of £7,673. At the year end, the total balance due to the directors from the company was £14,366 (2023: balance due to the company from the directors £125,430).
10.Related party transactions
The company is owed the following (in the form of unsecured loans) from related parties: £12,827 from Whirlwind Sports Community CIC of which Mr C Billing is also a director (2023: £8,640). £nil from Celtic Lettings Limited, of which Mr C Billing is also a director (2023: £292,689). £nil from Whirlwind Sports partnership whos partners are Mr P Billing and Mrs J Billing (2023: £106,065 owed to the company). The company owes the following (in order of unsecured loans) to related parties: £nil to Frixon Limited, of which Mr C Billing is also a director (2023: £nil).