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REGISTERED NUMBER: 12085203 (England and Wales)















LEGACY PERFORMANCE SPORTSWEAR LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH JUNE 2024






LEGACY PERFORMANCE SPORTSWEAR LTD (REGISTERED NUMBER: 12085203)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH JUNE 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


LEGACY PERFORMANCE SPORTSWEAR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH JUNE 2024







DIRECTOR: A Franks





SECRETARY: C C Franks





REGISTERED OFFICE: Westward House Unit 7
Glebeland Road
Camberley
Surrey
GU15 3DB





REGISTERED NUMBER: 12085203 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

LEGACY PERFORMANCE SPORTSWEAR LTD (REGISTERED NUMBER: 12085203)

BALANCE SHEET
29TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,352 9,405

CURRENT ASSETS
Stocks 34,177 22,406
Debtors 5 4,005 5,732
Cash at bank 231 1,146
38,413 29,284
CREDITORS
Amounts falling due within one year 6 393,785 291,862
NET CURRENT LIABILITIES (355,372 ) (262,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(349,020

)

(253,173

)

CREDITORS
Amounts falling due after more than one
year

7

(2,799

)

(4,847

)

PROVISIONS FOR LIABILITIES 9 (1,207 ) (1,787 )
NET LIABILITIES (353,026 ) (259,807 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (353,126 ) (259,907 )
(353,026 ) (259,807 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LEGACY PERFORMANCE SPORTSWEAR LTD (REGISTERED NUMBER: 12085203)

BALANCE SHEET - continued
29TH JUNE 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 director and authorised for issue on 27th March 2025 and were signed by:





A Franks - Director


LEGACY PERFORMANCE SPORTSWEAR LTD (REGISTERED NUMBER: 12085203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH JUNE 2024

1. STATUTORY INFORMATION

Legacy Performance Sportswear Ltd 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.

Tangible fixed assets
Fixtures and Fittings 20% straight line
Plant and Machinery 20% straight line

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

LEGACY PERFORMANCE SPORTSWEAR LTD (REGISTERED NUMBER: 12085203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH JUNE 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30th June 2023
and 29th June 2024 15,267
DEPRECIATION
At 30th June 2023 5,862
Charge for year 3,053
At 29th June 2024 8,915
NET BOOK VALUE
At 29th June 2024 6,352
At 29th June 2023 9,405

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 30th June 2023
and 29th June 2024 12,384
DEPRECIATION
At 30th June 2023 4,954
Charge for year 2,476
At 29th June 2024 7,430
NET BOOK VALUE
At 29th June 2024 4,954
At 29th June 2023 7,430

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 5,120
Other debtors 4,005 612
4,005 5,732

LEGACY PERFORMANCE SPORTSWEAR LTD (REGISTERED NUMBER: 12085203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 3,060 3,060
Trade creditors 7,024 11,020
Taxation and social security 323 323
Other creditors 383,378 277,459
393,785 291,862

Included in other creditors is a balance of £376,979 (2023 - £268,617) due to one of the shareholders.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 2,799 4,847

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,060 3,060
Between one and five years 2,799 4,847
5,859 7,907

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 11,558

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,207 1,787

Deferred
tax
£   
Balance at 30th June 2023 1,787
Provided during year (580 )
Balance at 29th June 2024 1,207

LEGACY PERFORMANCE SPORTSWEAR LTD (REGISTERED NUMBER: 12085203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH JUNE 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29th June 2024 and the period ended 29th June 2023:

2024 2023
£    £   
A Franks
Balance outstanding at start of year (5,001 ) (5,001 )
Amounts advanced 129 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,872 ) (5,001 )

The loan has been provided interest free. There is no fixed date for repayment.

11. ULTIMATE CONTROLLING PARTY

The controlling party is A Franks.

12. GOING CONCERN

The accounts have been prepared on the going concern basis. The shareholders have confirmed that they will continue to support the company until such time the balance sheet is positive.