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REGISTERED NUMBER: 13092048 (England and Wales)















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: R Gandolfi
T R F Barnard





REGISTERED OFFICE: 38 Craven Street
London
WC2N 5NG





REGISTERED NUMBER: 13092048 (England and Wales)





AUDITORS: Belluzzo Audit Limited
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 4 608,416 587,350
Cash at bank and in hand 198,291 198,199
806,707 785,549
CREDITORS
Amounts falling due within one year 5 (731,175 ) (767,308 )
NET CURRENT ASSETS 75,532 18,241
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,532

18,241

PROVISIONS FOR LIABILITIES (18,354 ) (18,354 )
NET ASSETS/(LIABILITIES) 57,178 (113 )

CAPITAL AND RESERVES
Called up share capital 7 100,000 100,000
Retained earnings (42,822 ) (100,113 )
SHAREHOLDERS' FUNDS 57,178 (113 )

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 Board of Directors and authorised for issue on 9 June 2025 and were signed on its behalf by:





R Gandolfi - Director


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 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.

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 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 589,459 576,748
Other debtors 5,154 7,321
Prepayments and accrued income 13,803 3,281
608,416 587,350

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 85,410 105,482
Amounts owed to group undertakings 473,230 490,211
VAT 60,215 57,983
Other creditors 47,459 55,278
Accruals and deferred income 64,861 58,354
731,175 767,308

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,250 4,500

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary 1 100,000 100,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited

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.