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Company registration number: 13755151
| FINANCIAL STATEMENTS
| FOR THE PERIOD ENDED 31 DECEMBER 2023
| JOBE SPORT INTERNATIONAL UK LIMITED
JOBE SPORT INTERNATIONAL UK LIMITED REGISTERED NUMBER:13755151 |  |
BALANCE SHEET AS AT 31 DECEMBER 2023
|  | 2023 |  | 2022
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks |  | 760,815 |  | 1,577,849 |
Debtors: amounts falling due within one year | 4 | 464,738 |  | 178,407 |
Cash at bank and in hand | 5 | 56,982 |  | 57,734 |
|  | 1,282,535 |  | 1,813,990 |
Creditors: amounts falling due within one year | 6 | (2,014,395) |  | (2,018,523) |
Net current liabilities |  |  | (731,860) |  | (204,533)
Total assets less current liabilities |  |  | (731,860) |  | (204,533)
Net liabilities |  |  | (731,860) |  | (204,533)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,000 |  | 1,000
Profit and loss account |  |  | (732,860) |  | (205,533)
|  |  | (731,860) |  | (204,533)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 June 2025.
L Egon
Director
The notes on pages 2 to 5 form part of these financial statements. Page 1
JOBE SPORT INTERNATIONAL UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
1. | General information
Jobe Sport International UK Limited is a private company, limited by shares and incorporated in England and Wales. The address of the registered office is disclosed on the company information page as 4th Floor, 95 Gresham Street, London, EC2V 7AB. The Company was incorporated on 19 November 2021. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
Despite substantial losses in 2023, the Company's ongoing viability is secured through the continued financial support of both the mother company, and the Alliance Marine Group. Management remains actively engaged in monitoring the financial situation and is committed to implementing measures to restore profitability and strengthen the financial structure. In 2024, activity levels continued to decline due to a market that remained heavily overstocked, significantly impacting demand. However, a gradual recovery is expected starting in 2025, with operations projected to return to break even, yielding a net result close to zero. As of mid-2025, performance is ahead of budget by nearly 30%, indicating a stronger-than-anticipated rebound and offering a more optimistic outlook for the remainder of the year. The Company is reliant on financial support from other group companies. The directors have received written confirmation that this support will continue for the foreseeable future. On the basis of the above, it is the directors' opinion that the going concern basis is appropriate.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Page 2
JOBE SPORT INTERNATIONAL UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.6 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.7 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 3
JOBE SPORT INTERNATIONAL UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 2.Accounting policies (continued)
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the period was 2 (2022 - 0).
4. | Debtors
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Trade debtors | 313,893 | 178,161
| Other debtors | 150,845 | 246
|  | 464,738 | 178,407
5. | Cash and cash equivalents
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Cash at bank and in hand | 56,982 | 57,734
|  | 56,982 | 57,734
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JOBE SPORT INTERNATIONAL UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Trade creditors | 46,700 | 507,072
| Amounts owed to group undertakings | 1,663,868 | 1,132,598
| Other taxation and social security | 3,033 | 28,178
| Other creditors | 109,387 | 56,123
| Accruals and deferred income | 191,407 | 294,552
|  | 2,014,395 | 2,018,523
7. | Controlling party
The immediate parent company is Sport - en Recreatie Den Bol BV, a company incorporated in the Netherlands. The ultimate parent company is AMGI SAS, a holding company registered in France. The results of the group are included in AMG SAS consolidated financial statements, and this is the largest and smallest group for which consolidated accounts are drawn up.
8. | Auditor's information
The auditor's report on the financial statements for the period ended 31 December 2023 was unqualified. The audit report was signed on 19 June 2025 by Andrew Wooding FCA (Senior statutory auditor) on behalf of Menzies LLP.
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