Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30Retail sale of sports goods, fishing gear, camping goods, boats and bicyclesfalse2023-12-01false118trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01650605 2023-12-01 2024-11-30 01650605 2022-12-01 2023-11-30 01650605 2024-11-30 01650605 2023-11-30 01650605 c:Director1 2023-12-01 2024-11-30 01650605 d:Buildings d:ShortLeaseholdAssets 2023-12-01 2024-11-30 01650605 d:Buildings d:ShortLeaseholdAssets 2024-11-30 01650605 d:Buildings d:ShortLeaseholdAssets 2023-11-30 01650605 d:FurnitureFittings 2023-12-01 2024-11-30 01650605 d:FurnitureFittings 2024-11-30 01650605 d:FurnitureFittings 2023-11-30 01650605 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 01650605 d:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 01650605 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 01650605 d:PatentsTrademarksLicencesConcessionsSimilar 2024-11-30 01650605 d:PatentsTrademarksLicencesConcessionsSimilar 2023-11-30 01650605 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-11-30 01650605 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-30 01650605 d:CurrentFinancialInstruments 2024-11-30 01650605 d:CurrentFinancialInstruments 2023-11-30 01650605 d:Non-currentFinancialInstruments 2024-11-30 01650605 d:Non-currentFinancialInstruments 2023-11-30 01650605 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 01650605 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 01650605 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 01650605 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 01650605 d:ShareCapital 2024-11-30 01650605 d:ShareCapital 2023-11-30 01650605 d:RetainedEarningsAccumulatedLosses 2024-11-30 01650605 d:RetainedEarningsAccumulatedLosses 2023-11-30 01650605 c:FRS102 2023-12-01 2024-11-30 01650605 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 01650605 c:FullAccounts 2023-12-01 2024-11-30 01650605 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 01650605 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 01650605 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 01650605 d:OtherDeferredTax 2024-11-30 01650605 d:OtherDeferredTax 2023-11-30 01650605 2 2023-12-01 2024-11-30 01650605 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 01650605









WIGMORE SPORTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
WIGMORE SPORTS LIMITED
REGISTERED NUMBER: 01650605

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
67,886
75,344

  
67,886
75,344

Current assets
  

Stocks
  
548,329
485,528

Debtors
 6 
203,119
93,460

Cash at bank and in hand
  
146,032
121,536

  
897,480
700,524

Creditors: amounts falling due within one year
 7 
(788,082)
(588,690)

Net current assets
  
 
 
109,398
 
 
111,834

Total assets less current liabilities
  
177,284
187,178

Creditors: amounts falling due after more than one year
 8 
(13,334)
(45,334)

Provisions for liabilities
  

Deferred tax
 9 
(456)
(1,118)

  
 
 
(456)
 
 
(1,118)

Net assets
  
163,494
140,726


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
162,494
139,726

  
163,494
140,726


Page 1

 
WIGMORE SPORTS LIMITED
REGISTERED NUMBER: 01650605
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 comprehensive income 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 13 August 2025.




M C Davda
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Wigmore Sports Ltd is a private company, limited by shares, incorporated in England and Wales,registration number 01650605. The registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL.

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 financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Straight line over 11 year life of lease
Fixtures & Fittings
-
15% reducing balance
Website development
-
33.33% straight balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

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.

 
2.12

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.
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.

 
2.13

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.

Page 5

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.15

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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 8).

Page 6

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Intangible assets




Patents & Trademarks
Website
Total

£
£
£



Cost


At 1 December 2023
2,912
48,897
51,809



At 30 November 2024

2,912
48,897
51,809



Amortisation


At 1 December 2023
2,912
48,897
51,809



At 30 November 2024

2,912
48,897
51,809



Net book value



At 30 November 2024
-
-
-



At 30 November 2023
-
-
-



Page 7

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Tangible fixed assets





S/Term Leasehold Property
Fixtures & Fittings
Total

£
£
£



Cost or valuation


At 1 December 2023
126,219
479,145
605,364


Additions
-
4,202
4,202



At 30 November 2024

126,219
483,347
609,566



Depreciation


At 1 December 2023
108,214
421,806
530,020


Charge for the year on owned assets
2,735
8,925
11,660



At 30 November 2024

110,949
430,731
541,680



Net book value



At 30 November 2024
15,270
52,616
67,886



At 30 November 2023
18,005
57,339
75,344


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
153,066
78,756

153,066
78,756

Due within one year

Trade debtors
2,041
1,922

Other debtors
15,399
2,725

Prepayments and accrued income
32,613
10,057

203,119
93,460


Page 8

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
32,000
32,000

Trade creditors
412,164
325,881

Corporation tax
64,163
51,186

Other taxation and social security
51,349
46,010

Pension fund loan payable
1,852
1,256

Other creditors
88,552
54,136

Accruals and deferred income
138,002
78,221

788,082
588,690



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,334
45,334

13,334
45,334


The following liabilities were secured:

2024
2023
£
£



Bank loans
45,334
77,334

45,334
77,334

Details of security provided:

The bank loans are secured by a fixed and floating charge over the assets of the company.


9.


Deferred taxation

Page 9

 
WIGMORE SPORTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
9.Deferred taxation (continued)




2024


£






At beginning of year
(1,118)


Charged to profit or loss
662



At end of year
(456)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(10,581)
(11,197)

Other items
10,125
10,079

(456)
(1,118)


The net reversal of deferred tax assets and liabilities expected to reverse in the next year is £689. This primarily relates to the reversal of timing differences on acquired tangible assets and capital allowances through depreciation and other short term timing differences.


10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £6,309 (2023: £5,599). At the balance sheet date the company owed £1,852 (2023: £1,256) to the pension fund. 


11.


Related party transactions

Other creditors includes £74,557 due to the directors (2023 - £47,249 due to directors). Dividends paid during the year amounted to £165,000 (2023 - £120,000 ). 


12.


Controlling party

The ultimate controlling party is M C Davda and his wife P Davda by virtue of their total shareholding. 

 
Page 10