THE SPORTSLOCKER STORE LIMITED

Company Registration Number:
09117193 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

THE SPORTSLOCKER STORE LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

THE SPORTSLOCKER STORE LIMITED

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The company's principal activity during the year continued to be retail sale of sporting equipment in specialised stores.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

PETER JONES
JULIA JONES


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
15 January 2025

And signed on behalf of the board by:
Name: PETER JONES
Status: Director

THE SPORTSLOCKER STORE LIMITED

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 821,945 881,779
Cost of sales: ( 448,207 ) ( 476,453 )
Gross profit(or loss): 373,738 405,326
Administrative expenses: ( 367,719 ) ( 337,123 )
Operating profit(or loss): 6,019 68,203
Interest receivable and similar income: 3,349 1,823
Profit(or loss) before tax: 9,368 70,026
Tax: ( 2,425 ) ( 13,336 )
Profit(or loss) for the financial year: 6,943 56,690

THE SPORTSLOCKER STORE LIMITED

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 7,500 37,500
Tangible assets: 4 6,189 8,292
Total fixed assets: 13,689 45,792
Current assets
Stocks: 5 246,849 243,649
Cash at bank and in hand: 243,842 292,285
Total current assets: 490,691 535,934
Prepayments and accrued income: 6,707 6,887
Creditors: amounts falling due within one year: 6 ( 84,440 ) ( 107,076 )
Net current assets (liabilities): 412,958 435,745
Total assets less current liabilities: 426,647 481,537
Creditors: amounts falling due after more than one year: 7 ( 13,652 ) ( 15,459 )
Total net assets (liabilities): 412,995 466,078
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 412,895 465,978
Total Shareholders' funds: 412,995 466,078

The notes form part of these financial statements

THE SPORTSLOCKER STORE LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 15 January 2025
and signed on behalf of the board by:

Name: PETER JONES
Status: Director

The notes form part of these financial statements

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement the fair vale of the consideration is the present value of future receipts . The difference between the fair value of the consideration and the nominal amount received is recognised as interest income 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 dispatch 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. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated to comparing costs incurred mainly in relation to contractual hourly staff rates and materials as a proportion of total costs. Where the outcome cannot be estimated reliably revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered

    Tangible fixed assets depreciation policy

    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 basis. Plant and machinery evenly over 4 years. Fixtures, fittings, tools and equipment evenly over 4 years. 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.

    Intangible fixed assets amortisation policy

    Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired it is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition Cash-Generating units to which goodwill has been allocated are tested for impairment at lease annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and the to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 14 10

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 July 2023 300,000 300,000
Additions
Disposals
Revaluations
Transfers
At 30 June 2024 300,000 300,000
Amortisation
At 1 July 2023 262,500 262,500
Charge for year 30,000 30,000
On disposals
Other adjustments
At 30 June 2024 292,500 292,500
Net book value
At 30 June 2024 7,500 7,500
At 30 June 2023 37,500 37,500

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 2,795 13,424 16,219
Additions
Disposals
Revaluations
Transfers
At 30 June 2024 2,795 13,424 16,219
Depreciation
At 1 July 2023 699 7,228 7,927
Charge for year 524 1,579 2,103
On disposals
Other adjustments
At 30 June 2024 1,223 8,807 10,030
Net book value
At 30 June 2024 1,572 4,617 6,189
At 30 June 2023 2,096 6,196 8,292

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Stocks

2024 2023
£ £
Stocks 246,849 243,649
Total 246,849 243,649

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 40,934 32,124
Taxation and social security 24,666 25,128
Accruals and deferred income 13,225 16,519
Other creditors 5,615 33,305
Total 84,440 107,076

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 13,652 15,459
Total 13,652 15,459

THE SPORTSLOCKER STORE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

8. Financial Commitments

The company has elected to apply the provision of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with 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.