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REGISTERED NUMBER: 06265021 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

AMT SPORTS LIMITED

AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AMT SPORTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr A Thaker
Mr M Thaker
Mrs N Thaker
Mrs P Thaker





SECRETARY: Mr A Thaker





REGISTERED OFFICE: 5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 2EX





REGISTERED NUMBER: 06265021 (England and Wales)





ACCOUNTANTS: David Simon Limited
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 129,600 162,000
Tangible assets 5 448,834 460,265
578,434 622,265

CURRENT ASSETS
Stocks 896,903 938,276
Debtors 6 413,876 403,070
Cash at bank and in hand 361,332 451,455
1,672,111 1,792,801
CREDITORS
Amounts falling due within one year 7 940,597 754,444
NET CURRENT ASSETS 731,514 1,038,357
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,309,948

1,660,622

PROVISIONS FOR LIABILITIES 40,609 31,346
NET ASSETS 1,269,339 1,629,276

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserves 9 191,555 200,818
Retained earnings 1,077,684 1,428,358
SHAREHOLDERS' FUNDS 1,269,339 1,629,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 5 February 2025 and were signed on its behalf by:




Mr A Thaker - Director



Mr M Thaker - Director


AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

AMT Sports 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 20% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Grants receivable
Business grants are credited to profit and loss account on an accruals basis where it is probable that they will be received.

AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Government assisted loans
Loans received through the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 648,000
AMORTISATION
At 1 June 2023 486,000
Charge for year 32,400
At 31 May 2024 518,400
NET BOOK VALUE
At 31 May 2024 129,600
At 31 May 2023 162,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 500,000 166,224 666,224
DEPRECIATION
At 1 June 2023 52,445 153,514 205,959
Charge for year 8,889 2,542 11,431
At 31 May 2024 61,334 156,056 217,390
NET BOOK VALUE
At 31 May 2024 438,666 10,168 448,834
At 31 May 2023 447,555 12,710 460,265

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,375 -
Other debtors 398,501 403,070
413,876 403,070

AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39 -
Trade creditors 723,816 583,001
Taxation and social security 100,477 107,074
Other creditors 116,265 64,369
940,597 754,444

8. SECURED DEBTS

HSBC has a right to all monies due or to become due to the company on any account whatsoever.

9. RESERVES
Non-distributable
reserves
£   
At 1 June 2023 200,818
Non-distributable reserves (9,263 )

At 31 May 2024 191,555

10. TRANSACTION WITH DIRECTORS

During the year, the company paid an amount of £67,000 (2023: £67,000) to a business in which both the directors have an interest.