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Company No: 04346063 (England and Wales)

SELLS GOALKEEPER PRODUCTS LTD

Unaudited Financial Statements
For the financial period from 27 March 2023 to 25 March 2024
Pages for filing with the registrar

SELLS GOALKEEPER PRODUCTS LTD

Unaudited Financial Statements

For the financial period from 27 March 2023 to 25 March 2024

Contents

SELLS GOALKEEPER PRODUCTS LTD

STATEMENT OF FINANCIAL POSITION

As at 25 March 2024
SELLS GOALKEEPER PRODUCTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 25 March 2024
Note 25.03.2024 26.03.2023
£ £
Current assets
Stocks 226,000 276,695
Debtors 5 361,565 257,322
Cash at bank and in hand 11,198 9,350
598,763 543,367
Creditors: amounts falling due within one year 6 ( 566,491) ( 227,409)
Net current assets 32,272 315,958
Total assets less current liabilities 32,272 315,958
Creditors: amounts falling due after more than one year 7 ( 805,636) ( 815,797)
Net liabilities ( 773,364) ( 499,839)
Capital and reserves
Called-up share capital 8 150 150
Share premium account 493,410 493,410
Profit and loss account ( 1,266,924 ) ( 993,399 )
Total shareholders' deficit ( 773,364) ( 499,839)

For the financial period ending 25 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sells Goalkeeper Products Ltd (registered number: 04346063) were approved and authorised for issue by the Director. They were signed on its behalf by:

A D Sells
Director

24 July 2025

SELLS GOALKEEPER PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 27 March 2023 to 25 March 2024
SELLS GOALKEEPER PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 27 March 2023 to 25 March 2024
1. Accounting policies

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

General information and basis of accounting

Sells Goalkeeper Products Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
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 and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
27.03.2023 to
25.03.2024
Period from
28.03.2022 to
26.03.2023
Number Number
Monthly average number of persons employed by the company during the period, including the director 2 4

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 27 March 2023 13,242 13,242
At 25 March 2024 13,242 13,242
Accumulated amortisation
At 27 March 2023 13,242 13,242
At 25 March 2024 13,242 13,242
Net book value
At 25 March 2024 0 0
At 26 March 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 27 March 2023 61,770 61,770
At 25 March 2024 61,770 61,770
Accumulated depreciation
At 27 March 2023 61,770 61,770
At 25 March 2024 61,770 61,770
Net book value
At 25 March 2024 0 0
At 26 March 2023 0 0

5. Debtors

25.03.2024 26.03.2023
£ £
Trade debtors 225,053 162,489
Other debtors 136,512 94,833
361,565 257,322

6. Creditors: amounts falling due within one year

25.03.2024 26.03.2023
£ £
Bank loans 94,445 9,911
Trade creditors 198,838 42,228
Other taxation and social security 81,557 87,832
Other creditors 191,651 87,438
566,491 227,409

7. Creditors: amounts falling due after more than one year

25.03.2024 26.03.2023
£ £
Bank loans 13,950 24,111
Other creditors 791,686 791,686
805,636 815,797

8. Called-up share capital

25.03.2024 26.03.2023
£ £
Allotted, called-up and fully-paid
15,000 Ordinary shares of £ 0.01 each 150 150

9. Related party transactions

Included within other creditors is a balance of £541,459 (2023: £566,485) owed to the director and his family. This balance is unsecured and interest free.