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Registration number: 09728013

Athletic Group Uk Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Athletic Group Uk Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

iXBRL Detailed Profit and Loss Account

14

 

Athletic Group Uk Ltd

Company Information

Directors

Mr Piotr Wcislek

Mr Lukasz Malinski

Mr Wojciech Franciszek Kaminski

Company secretary

Mr Wojciech Franciszek Kaminski

Registered office

Unit 2
Warren Road
Longwood Park
Manchester
M17 1QR

Accountants

Accountancy 4 You Ltd
68-70 Market Street
Hyde
SK14 1ES

 

Athletic Group Uk Ltd

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Piotr Wcislek

Mr Lukasz Malinski

Mr Wojciech Franciszek Kaminski - Company secretary and director

Principal activity

The principal activity of the company is retail and wholesale of musical equipment and accessories

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr Wojciech Franciszek Kaminski
Company secretary and director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Athletic Group Uk Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Athletic Group Uk Ltd for the year ended 31 December 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com .

This report is made solely to the Board of Directors of Athletic Group Uk Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Athletic Group Uk Ltd and state those matters that we have agreed to state to the Board of Directors of Athletic Group Uk Ltd, as a body, in this report in accordance with the requirements of ACCA . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Athletic Group Uk Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Athletic Group Uk Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Athletic Group Uk Ltd. You consider that Athletic Group Uk Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Athletic Group Uk Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Accountancy 4 You Ltd
68-70 Market Street
Hyde
SK14 1ES

13 March 2025

 

Athletic Group Uk Ltd

Profit and Loss Account for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

 

1,291,035

1,555,211

Cost of sales

 

(825,323)

(1,055,831)

Gross profit

 

465,712

499,380

Administrative expenses

 

(358,487)

(400,757)

Operating profit

 

107,225

98,623

Interest payable and similar expenses

 

(545)

-

Profit before tax

4

106,680

98,623

Tax on profit

 

(16,471)

(22,230)

Profit for the financial year

 

90,209

76,393

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Athletic Group Uk Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2024

2024
£

2023
£

Profit for the year

90,209

76,393

Total comprehensive income for the year

90,209

76,393

 

Athletic Group Uk Ltd

(Registration number: 09728013)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

52,878

22,504

Current assets

 

Stocks

6

262,839

213,501

Debtors

7

230,414

202,344

Cash at bank and in hand

 

17,964

9,421

 

511,217

425,266

Creditors: Amounts falling due within one year

8

(318,073)

(287,408)

Net current assets

 

193,144

137,858

Total assets less current liabilities

 

246,022

160,362

Creditors: Amounts falling due after more than one year

8

(35,189)

(40,335)

Net assets

 

210,833

120,027

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

210,733

119,927

Shareholders' funds

 

210,833

120,027

For the financial year ending 31 December 2024 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.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr Wojciech Franciszek Kaminski
Company secretary and director

 

Athletic Group Uk Ltd

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

100

120,524

120,624

Profit for the year

-

90,209

90,209

At 31 December 2024

100

210,733

210,833

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

100

43,534

43,634

Profit for the year

-

76,393

76,393

At 31 December 2023

100

119,927

120,027

 

Athletic Group Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 2
Warren Road
Longwood Park
Manchester
M17 1QR
England

These financial statements were authorised for issue by the Board on 13 March 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. These are the first financial statements that comply with FRS102. The company transitioned to FR102 from 1 September 2016.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Athletic Group Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

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

Plant and machinery

20% straight line method

Office equipment

33% straight line method

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Athletic Group Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

18,596

11,252

 

Athletic Group Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

5,714

57,996

15,800

79,510

Additions

2,789

46,180

-

48,969

At 31 December 2024

8,503

104,176

15,800

128,479

Depreciation

At 1 January 2024

5,714

35,492

15,800

57,006

Charge for the year

920

17,675

-

18,595

At 31 December 2024

6,634

53,167

15,800

75,601

Carrying amount

At 31 December 2024

1,869

51,009

-

52,878

At 31 December 2023

-

22,504

-

22,504

6

Stocks

2024
£

2023
£

Other inventories

262,839

213,501

7

Debtors

Current

2024
£

2023
£

Trade debtors

222,608

199,513

Prepayments

4,086

-

Other debtors

3,720

2,831

 

230,414

202,344

8

Creditors

Creditors: amounts falling due within one year

 

Athletic Group Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2024
£

2023
£

Due within one year

Trade creditors

301,602

265,178

Taxation and social security

16,471

22,230

318,073

287,408

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

35,189

40,335

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

35,189

40,335

11

Related party transactions

 

Athletic Group Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

36,920

36,400

12

Parent and ultimate parent undertaking

The ultimate controlling party is Athletic Sp. z.o.o..

 

Athletic Group Uk Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2024

2024
£

2023
£

Turnover/revenue

1,291,035

1,555,211

Cost of sales

Opening finished goods

(213,501)

-

Purchase of raw materials and consumables

(825,323)

(1,055,831)

Closing finished goods

213,501

-

Gross profit

465,712

499,380

Distribution costs

Administrative expenses

Audit and accountancy other services

(4,572)

(3,809)

Advertising, promotions and marketing costs

(8,102)

(8,119)

Rent, rates and services costs

(43,336)

(43,544)

Utilities costs

(11,621)

(9,576)

Other repairs and maintenance costs

(559)

(12,718)

Cleaning costs

(2,172)

(2,326)

Depreciation of fixed assets

(18,596)

(11,252)

Vehicle costs

(2,215)

(2,536)

Other staff costs

(369)

(804)

Wages and salaries excluding directors

(123,721)

(148,000)

Social security costs excluding directors

(51,840)

(55,696)

Pension costs defined contribution schemes excluding directors

(11,532)

(12,290)

Staff costs excluding directors

(187,093)

(215,986)

Salaries and fees, directors

(36,920)

(36,400)

Travel and subsistence

(2,600)

(1,974)

Bank charges

(3,364)

(40,391)

Insurance costs

(4,686)

(3,353)

Telecommunications

(2,371)

(3,133)

Printing, postage and stationery

(29,151)

(4,229)

Subscriptions

(760)

(607)

Other operating income

Other items

Profit on ordinary activities before finance charges and interest

107,225

98,623

Foreign exchange loss included in finance income

(545)

-

Profit on ordinary activities before taxation

106,680

98,623

Tax on profit or loss on ordinary activities

(16,471)

(22,230)

Profit for the financial year

90,209

76,393