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DIRECT SPORTS LIMITED

Registered Number
04648702
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

DIRECT SPORTS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

WATSON, Mark

Company Secretary

SMITH, Helen

Registered Address

Evolution Wynyard Avenue
Wynyard
Stockton On Tees
TS22 5TB

Registered Number

04648702 (England and Wales)
DIRECT SPORTS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3125,694162,029
125,694162,029
Current assets
Stocks42,491,9092,676,235
Debtors1,026,163490,052
Cash at bank and on hand349,268253,122
3,867,3403,419,409
Creditors amounts falling due within one year5(555,866)(380,185)
Net current assets (liabilities)3,311,4743,039,224
Total assets less current liabilities3,437,1683,201,253
Net assets3,437,1683,201,253
Capital and reserves
Called up share capital44
Profit and loss account3,437,1643,201,249
Shareholders' funds3,437,1683,201,253
The financial statements were approved and authorised for issue by the Director on 28 January 2025, and are signed on its behalf by:
WATSON, Mark
Director
Registered Company No. 04648702
DIRECT SPORTS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2121
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 May 23284,659284,659
Additions748748
At 30 April 24285,407285,407
Depreciation and impairment
At 01 May 23122,630122,630
Charge for year37,08337,083
At 30 April 24159,713159,713
Net book value
At 30 April 24125,694125,694
At 30 April 23162,029162,029
4.Stocks

2024

2023

££
Finished goods2,491,9092,676,235
Total2,491,9092,676,235
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables130,925253,062
Taxation and social security137,070100,363
Accrued liabilities and deferred income287,87126,760
Total555,866380,185
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Related party transactions
Supplies of goods and services, at arm's length, from/(to) businesses in which directors have interests were as follows: 2024 2023 £ £ M Watson -Turboactive Ltd (6,204) (17,187) M Watson -M Watson Property 44,000 35,113 At the Balance Sheet date, amounts were due from/(to) businesses in which directors have interests as follows: 2024 2023 £ £ M Watson -Turboactive Ltd 721,357 399,161 M Watson -M Watson Property 9,600 0