10 8 Eleiko Sport Ltd 11724312 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the wholesale of fitness machinery and equipment. Digita Accounts Production Advanced 6.30.9574.0 true false true 11724312 2024-01-01 2024-12-31 11724312 2024-12-31 11724312 bus:OrdinaryShareClass1 2024-12-31 11724312 core:CurrentFinancialInstruments 2024-12-31 11724312 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11724312 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 11724312 core:BetweenOneFiveYears 2024-12-31 11724312 core:WithinOneYear 2024-12-31 11724312 core:LandBuildings core:ShortLeaseholdAssets 2024-12-31 11724312 core:MotorVehicles 2024-12-31 11724312 core:OfficeEquipment 2024-12-31 11724312 bus:SmallEntities 2024-01-01 2024-12-31 11724312 bus:Audited 2024-01-01 2024-12-31 11724312 bus:FilletedAccounts 2024-01-01 2024-12-31 11724312 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11724312 bus:RegisteredOffice 2024-01-01 2024-12-31 11724312 bus:CompanySecretary1 2024-01-01 2024-12-31 11724312 bus:Director2 2024-01-01 2024-12-31 11724312 bus:Director3 2024-01-01 2024-12-31 11724312 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11724312 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11724312 bus:Agent1 2024-01-01 2024-12-31 11724312 core:ComputerEquipment 2024-01-01 2024-12-31 11724312 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-12-31 11724312 core:LeaseholdImprovements 2024-01-01 2024-12-31 11724312 core:MotorVehicles 2024-01-01 2024-12-31 11724312 core:OfficeEquipment 2024-01-01 2024-12-31 11724312 1 2024-01-01 2024-12-31 11724312 countries:EnglandWales 2024-01-01 2024-12-31 11724312 countries:Sweden 2024-01-01 2024-12-31 11724312 2023-12-31 11724312 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 11724312 core:MotorVehicles 2023-12-31 11724312 core:OfficeEquipment 2023-12-31 11724312 2023-01-01 2023-12-31 11724312 2023-12-31 11724312 bus:OrdinaryShareClass1 2023-12-31 11724312 core:CurrentFinancialInstruments 2023-12-31 11724312 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11724312 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11724312 core:BetweenOneFiveYears 2023-12-31 11724312 core:WithinOneYear 2023-12-31 11724312 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 11724312 core:MotorVehicles 2023-12-31 11724312 core:OfficeEquipment 2023-12-31 11724312 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11724312

Eleiko Sport Ltd

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Eleiko Sport Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

Eleiko Sport Ltd

Company Information

Directors

E Blomberg

D C Beech

Company secretary

Goodwille Limited

Registered office

85 Great Portland Street,
First Floor
London
England
W1W 7LT

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Eleiko Sport Ltd

(Registration number: 11724312)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

55,507

52,399

Current assets

 

Stocks

7

35,945

56,243

Debtors

8

1,512,261

2,616,572

Cash at bank and in hand

 

95,152

370,710

 

1,643,358

3,043,525

Creditors: Amounts falling due within one year

9

(828,727)

(2,261,727)

Net current assets

 

814,631

781,798

Total assets less current liabilities

 

870,138

834,197

Creditors: Amounts falling due after more than one year

9

(26,514)

(61,333)

Provisions for liabilities

(12,924)

-

Net assets

 

830,700

772,864

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

830,699

772,863

Shareholders' funds

 

830,700

772,864


 

These financial statements have been prepared and 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 8 May 2025 and signed on its behalf by:
 

.........................................
D C Beech
Director

 

Eleiko Sport Ltd

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

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:
85 Great Portland Street,
First Floor
London
England
W1W 7LT
United Kingdom

Principal activity

The principal activity of the Company is the wholesale of fitness machinery and equipment.

These financial statements were authorised for issue by the Board on 8 May 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 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.

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 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.

 

Eleiko Sport Ltd

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

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 rates prevailing on the initial transaction dates.

Tax

The tax expense for the period comprises current and deferred 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.

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.

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

Motor vehicle

20% straight line

Computer equipment

33%-50% straight line

Leasehold improvements

20% straight line

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.

 

Eleiko Sport Ltd

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

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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

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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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

 

Eleiko Sport Ltd

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

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Eleiko Sport Ltd

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

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 8 May 2025 was David Wheeler, who signed for and on behalf of Bourner Bullock.

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

5

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 10 (2023 - 8).

6

Tangible assets

Short leasehold land and buildings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

-

11,093

56,190

67,283

Additions

17,810

3,177

-

20,987

At 31 December 2024

17,810

14,270

56,190

88,270

Depreciation

At 1 January 2024

-

7,920

6,964

14,884

Charge for the year

2,567

3,257

12,055

17,879

At 31 December 2024

2,567

11,177

19,019

32,763

Carrying amount

At 31 December 2024

15,243

3,093

37,171

55,507

At 31 December 2023

-

3,173

49,226

52,399

 

Eleiko Sport Ltd

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

7

Stocks

2024
£

2023
£

Stock

35,945

56,243

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

1,007,028

2,135,611

Amounts owed by Group undertakings and undertakings in which the Company has a participating interest

254,828

9,744

Prepayments

 

21,231

214,408

Other debtors

 

229,174

256,809

 

1,512,261

2,616,572

Details of non-current trade and other debtors

£176,017 (2023 -£198,417) of Other debtors is classified as non current. This is receivable in 60 equal monthly instalments with the final amounts due in 2028.

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

315

211

Trade creditors

 

5,844

34,311

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

182,298

1,192,438

Taxation and social security

 

199,959

577,238

Accruals and deferred income

 

400,194

370,194

Other creditors

 

5,311

60,251

Net obligations under finance lease and hire purchase contracts

 

34,806

27,084

 

828,727

2,261,727

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Net obligations under finance lease and hire purchase contracts

26,514

61,333

 

Eleiko Sport Ltd

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

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

11

Obligations under leases and hire purchase contracts

Finance leases and hire purchase contracts

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

40,819

27,086

Later than one year and not later than five years

34,514

61,333

75,333

88,419

12

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £Nil per each Ordinary shares

-

-

 

 

13

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Eleiko Group AB, incorporated in Sweden.

The address of Eleiko Group AB is:
Klastorpsvägen 18, 302 62 Halmstad, Sweden