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Registration number: 07918800

ATBSHOP LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

ATBSHOP LTD

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

ATBSHOP LTD

(Registration number: 07918800)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

12,082

9,412

Current assets

 

Stocks

6

222,475

195,344

Debtors

7

11,812

13,919

Cash at bank and in hand

 

12,136

7,814

 

246,423

217,077

Creditors: Amounts falling due within one year

8

(208,739)

(168,963)

Net current assets

 

37,684

48,114

Total assets less current liabilities

 

49,766

57,526

Creditors: Amounts falling due after more than one year

8

(6,687)

(16,667)

Provisions for liabilities

(2,295)

(1,788)

Net assets

 

40,784

39,071

Capital and reserves

 

Called up share capital

100

100

Retained earnings

40,684

38,971

Shareholders' funds

 

40,784

39,071

 

ATBSHOP LTD

(Registration number: 07918800)
Balance Sheet as at 31 January 2025

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

.........................................
Mr S J Kirk
Company secretary and director

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Glenmore Business Park
Southmead Close
Westmead
Swindon
Wiltshire
SN5 7FP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, and trade discounts.

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 reliabily, it is probable that the economic benefits associated with the trasaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliabily.

Government grants

Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.

Tax

The tax expense represents the sum of the tax currently payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

Straight line basis over 5 years.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line basis over 5 years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Employee benefit

The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 6).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2024

140,000

140,000

At 31 January 2025

140,000

140,000

Amortisation

At 1 February 2024

140,000

140,000

At 31 January 2025

140,000

140,000

Carrying amount

At 31 January 2025

-

-

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2024

30,390

30,390

Additions

5,542

5,542

Disposals

(8,088)

(8,088)

At 31 January 2025

27,844

27,844

Depreciation

At 1 February 2024

20,978

20,978

Charge for the year

2,692

2,692

Eliminated on disposal

(7,908)

(7,908)

At 31 January 2025

15,762

15,762

Carrying amount

At 31 January 2025

12,082

12,082

At 31 January 2024

9,412

9,412

6

Stocks

2025
£

2024
£

Goods for resale

222,475

195,344

7

Debtors

Current

2025
£

2024
£

Trade debtors

280

1,758

Prepayments

11,532

11,996

Other debtors

-

165

 

11,812

13,919

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

10,000

10,000

Trade creditors

 

50,513

30,633

Taxation and social security

 

12,852

1,774

Other creditors

 

135,374

126,556

 

208,739

168,963

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

6,687

16,667

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

16,500

16,500

Later than one year and not later than five years

47,758

64,258

64,258

80,758

The amount of non-cancellable operating lease payments recognised as an expense during the year was £17,196 (2024 - £1,742).

 

ATBSHOP LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

10

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

10,000

10,000

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

6,687

16,667

11

Related party transactions

Other transactions with directors

Rent of £nil (2024 £28,500) was payable to Mr S Kirk and Mrs D M Kirk for the use of premises at Unit 1 Newcombe Drive, Swindon, Wiltshire.

Amounts owed by the company to the directors at 31 January 2025 amounted to:
Mr S Kirk £62,159 (2024 £58,337)
Mrs D M Kirk £66,416 (2024 £63,198)

12

Grants

The organisation has received a grant during the fiscal year that is subject to restrictions set by the grantor. This grant is intended to be used for new equipment for youth club sessions. As of 31/01/2025 the organisation had a balance of £3,843 in restricted grant funds, whch are classified as deferred revenue in the statement of financial accounts. Revenue from this grant will be recognised in the statement of activities in future periods as the related expenditures are incurred or as the restrictions are met.