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Company No: SC101183 (Scotland)

COLIN CAMPBELL SPORTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

COLIN CAMPBELL SPORTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025

Contents

COLIN CAMPBELL SPORTS LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2025
COLIN CAMPBELL SPORTS LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 26,059 25,243
Investment property 4 250,000 250,000
276,059 275,243
Current assets
Stocks 59,596 44,343
Debtors 5 63,073 85,382
Cash at bank and in hand 222,947 211,295
345,616 341,020
Creditors: amounts falling due within one year 6 ( 79,129) ( 124,365)
Net current assets 266,487 216,655
Total assets less current liabilities 542,546 491,898
Provision for liabilities 7 ( 27,891) ( 26,826)
Net assets 514,655 465,072
Capital and reserves
Called-up share capital 8 41,150 41,150
Revaluation reserve 217,497 217,497
Profit and loss account 256,008 206,425
Total shareholders' funds 514,655 465,072

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 financial statements of Colin Campbell Sports Limited (registered number: SC101183) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Mr C J Campbell
Director
COLIN CAMPBELL SPORTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
COLIN CAMPBELL SPORTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Colin Campbell Sports Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the company's registered office is 18 Beaverbank Place, Edinburgh, EH7 4FB, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for sportswear goods net of VAT and trade discounts as well as rents received.

Revenue from the sale of sporting 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 reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

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

Defined contribution schemes
Payments to define contribution retirement schemes are charged as an expense as they fall due.

Taxation

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

The tax currently payable is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income and expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting period end date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 4 years straight line
Fixtures and fittings 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in the revaluation reserve.

The fair value is determined annually by the directors, on an open market value.

Stocks

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, are recognised at transaction price. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 6

3. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 February 2024 0 69,762 33,396 103,158
Additions 10,050 550 1,983 12,583
At 31 January 2025 10,050 70,312 35,379 115,741
Accumulated depreciation
At 01 February 2024 0 67,413 10,502 77,915
Charge for the financial year 2,094 993 8,680 11,767
At 31 January 2025 2,094 68,406 19,182 89,682
Net book value
At 31 January 2025 7,956 1,906 16,197 26,059
At 31 January 2024 0 2,349 22,894 25,243

4. Investment property

Investment property
£
Valuation
As at 01 February 2024 250,000
As at 31 January 2025 250,000

The value of the property was confirmed by the directors on the 31st January 2025. The valuation was based on the average market value of the property.

5. Debtors

2025 2024
£ £
Trade debtors 45,130 68,883
Other debtors 17,943 16,499
63,073 85,382

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 34,523 71,781
Taxation and social security 32,123 32,100
Other creditors 12,483 20,484
79,129 124,365

7. Deferred tax

2025 2024
£ £
At the beginning of financial year ( 26,826) ( 26,460)
Charged to the Profit and Loss Account ( 1,065) ( 366)
At the end of financial year ( 27,891) ( 26,826)

8. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
41,150 Ordinary shares of £ 1.00 each 41,150 41,150

9. Operating lease commitments

Lessee

2025 2024
£ £
Total future minimum lease payments under non-cancellable operating leases are as follows: 31,358 52,984