| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| ERREA SPORT UK LIMITED |
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| ERREA SPORT UK LIMITED |
| ERREA SPORT UK LIMITED (REGISTERED NUMBER: 13092048) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ERREA SPORT UK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditors |
| 38 Craven Street |
| London |
| WC2N 5NG |
| ERREA SPORT UK LIMITED (REGISTERED NUMBER: 13092048) |
| BALANCE SHEET |
| 30 JUNE 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ERREA SPORT UK LIMITED (REGISTERED NUMBER: 13092048) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 1. | STATUTORY INFORMATION |
| Errea Sport Uk Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The director believes that there are no material uncertainties that might affect the entity's ability to continue as a going concern based on the assumption that the business will continue to operate into the foreseeable future and for minimum of 12 months from the date that the financial statements are authorised for issue |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Significant judgements and estimates |
| Where complete documents pertaining the import transactions in the reporting year have not been provided by the Customs agent, the directors have reasonably estimated the cost of Customs duties for the goods imported during the accounting period based on the relevant tariff rate applicable to the commodity code associated to the category of the items sold. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from the sale of goods is recognised when the seller has transferred to the buyer the significant risk and rewards of ownership of the goods, the seller retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| ERREA SPORT UK LIMITED (REGISTERED NUMBER: 13092048) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial assets |
| The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, prepayments, accrued income and cash and bank balances. |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Trade, other receivable, prepayments, accrued income and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss. |
| Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred. |
| Financial liabilities |
| The company's financial liabilities comprise of basic financial liabilities, including trade and other payables, corporation tax, accruals and deferred income. These are initially recognised at transaction price. |
| Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| ERREA SPORT UK LIMITED (REGISTERED NUMBER: 13092048) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| VAT | 60,215 | 57,983 |
| Other creditors |
| Accruals and deferred income |
| 6. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 1 | 100,000 | 100,000 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | ULTIMATE CONTROLLING PARTY |
| The immediate and ultimate parent company is Agathis Srl a company incorporated in Italy. |
| The smallest and largest group of undertakings for which consolidated accounts have been drawn up is that headed by Agathis Srl and copies are available from Agathis Srl at its registered office in Torrile (PR) Via G. di Vittorio 2/, CAP 43056 Italy. |