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REGISTERED NUMBER: 05971652 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

CHAMPION PRODUCTS LIMITED

CHAMPION PRODUCTS LIMITED (REGISTERED NUMBER: 05971652)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


CHAMPION PRODUCTS LIMITED (REGISTERED NUMBER: 05971652)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,740 2,501

CURRENT ASSETS
Stocks 3,408 3,408
Debtors 5 67,939 67,611
Cash at bank and in hand - 5,086
71,347 76,105
CREDITORS
Amounts falling due within one year 6 66,175 67,289
NET CURRENT ASSETS 5,172 8,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,912

11,317

CREDITORS
Amounts falling due after more than one
year

7

(15,647

)

(18,552

)

PROVISIONS FOR LIABILITIES - (1,374 )
NET LIABILITIES (8,735 ) (8,609 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (8,835 ) (8,709 )
(8,735 ) (8,609 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CHAMPION PRODUCTS LIMITED (REGISTERED NUMBER: 05971652)

BALANCE SHEET - continued
30TH SEPTEMBER 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th June 2025 and were signed on its behalf by:





Mr A G Starkey - Director


CHAMPION PRODUCTS LIMITED (REGISTERED NUMBER: 05971652)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Champion Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05971652

Registered office: 99 Keats Lane
Earl Shilton
Leicestershire
LE9 7DS

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred except where there is a defined project which is commercially viable and technically feasible and in which income is expected to outweigh costs. Where these criteria are met, the costs are carried forward to the period in which the income stream begins.

CHAMPION PRODUCTS LIMITED (REGISTERED NUMBER: 05971652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023 7,145
Additions 542
Disposals (2,145 )
At 30th September 2024 5,542
DEPRECIATION
At 1st October 2023 4,644
Charge for year 1,302
Eliminated on disposal (2,144 )
At 30th September 2024 3,802
NET BOOK VALUE
At 30th September 2024 1,740
At 30th September 2023 2,501

Plant and Machinery etc - 33% Straight line on Cost and 25% Straight line on Cost

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 67,939 67,611

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 31,155 11,891
Trade creditors 13,211 20,665
Amounts owed to group undertakings 10,511 26,398
Taxation and social security 3,205 7,155
Other creditors 8,093 1,180
66,175 67,289

CHAMPION PRODUCTS LIMITED (REGISTERED NUMBER: 05971652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 15,647 18,552

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th September 2024 and 30th September 2023:

30.9.24 30.9.23
£    £   
Mr A G Starkey
Balance outstanding at start of year 320 2,390
Amounts advanced 3,409 2,214
Amounts repaid (10,109 ) (4,284 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,380 ) 320

Mr P G Starkey
Balance outstanding at start of year 14,479 14,211
Amounts advanced 5,448 4,280
Amounts repaid (10,895 ) (4,012 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,032 14,479

9. RELATED PARTY DISCLOSURES

The Company is connected with Playtime Inflatables Limited, a company in which Mr P G Starkey, director, is the sole director and shareholder. During the year Champion Products Limited purchased goods and services totalling £82,278 from Playtime Inflatables Limited.