Company Registration No. 03744012 (England and Wales)
SERVICE SPORT (UK) LIMITED
Unaudited accounts
for the period from 31 December 2023 to 29 December 2024
SERVICE SPORT (UK) LIMITED
Unaudited accounts
Contents
SERVICE SPORT (UK) LIMITED
Company Information
for the period from 31 December 2023 to 29 December 2024
Directors
Colin Marriott
Michael Ellis
Christopher Crane
Company Number
03744012 (England and Wales)
Registered Office
SERVICESPORT HOUSE UNITS 1 & 2 DRUMHEAD
CHORLEY NORTH BUSINESS PARK
CHORLEY
LANCASHIRE
PR6 7BX
Accountants
Litke Wood & Co Limited
105 Witton Street
Northwich
Cheshire
CW9 5DR
SERVICE SPORT (UK) LIMITED
Statement of financial position
as at 29 December 2024
Intangible assets
37,600
-
Tangible assets
410,305
271,821
Inventories
651,522
904,946
Debtors
1,814,178
1,530,886
Cash at bank and in hand
16,220
9,995
Creditors: amounts falling due within one year
(2,739,042)
(2,455,518)
Net current liabilities
(257,122)
(9,691)
Total assets less current liabilities
190,783
262,130
Provisions for liabilities
Deferred tax
(3,979)
(3,979)
Net assets
186,804
258,151
Called up share capital
1,000
1,000
Share premium
10,165
10,165
Profit and loss account
175,639
246,986
Shareholders' funds
186,804
258,151
For the period ending 29 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
Colin Marriott
Director
Company Registration No. 03744012
SERVICE SPORT (UK) LIMITED
Notes to the Accounts
for the period from 31 December 2023 to 29 December 2024
SERVICE SPORT (UK) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03744012. The registered office is SERVICESPORT HOUSE UNITS 1 & 2 DRUMHEAD , CHORLEY NORTH BUSINESS PARK, CHORLEY, LANCASHIRE, PR6 7BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The accounts are presented in £ sterling.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 3 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
SERVICE SPORT (UK) LIMITED
Notes to the Accounts
for the period from 31 December 2023 to 29 December 2024
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land & buildings
33% straight line
Plant & machinery
15% straight line
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generatingunit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generatingunit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Inventories - stock of parts and finished goods
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
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 impairmentlosses are also recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investmentswith original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SERVICE SPORT (UK) LIMITED
Notes to the Accounts
for the period from 31 December 2023 to 29 December 2024
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.
Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.
Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
SERVICE SPORT (UK) LIMITED
Notes to the Accounts
for the period from 31 December 2023 to 29 December 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Intangible fixed assets
Goodwill
Other
Total
At 31 December 2023
204,167
-
204,167
At 29 December 2024
204,167
37,600
241,767
At 31 December 2023
204,167
-
204,167
At 29 December 2024
204,167
-
204,167
At 29 December 2024
-
37,600
37,600
SERVICE SPORT (UK) LIMITED
Notes to the Accounts
for the period from 31 December 2023 to 29 December 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 31 December 2023
62,229
277,124
319,569
378,832
27,500
1,065,254
Additions
1,480
-
272,596
11,097
-
285,173
Disposals
-
-
(44,044)
-
-
(44,044)
At 29 December 2024
63,709
277,124
548,121
389,929
27,500
1,306,383
At 31 December 2023
57,059
263,375
163,282
282,217
27,500
793,433
Charge for the period
2,348
3,805
94,510
36,200
-
136,863
On disposals
-
-
(34,218)
-
-
(34,218)
At 29 December 2024
59,407
267,180
223,574
318,417
27,500
896,078
At 29 December 2024
4,302
9,944
324,547
71,512
-
410,305
At 30 December 2023
5,170
13,749
156,287
96,615
-
271,821
Amounts falling due within one year
Trade debtors
1,406,531
1,052,913
Amounts due from group undertakings etc.
85,580
103,464
Accrued income and prepayments
279,979
305,956
Other debtors
42,088
68,553
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
949,984
527,451
Obligations under finance leases and hire purchase contracts
361,615
225,846
Trade creditors
715,262
810,415
Taxes and social security
379,118
290,353
Other creditors
17,095
11,413
Loans from directors
2,661
7,132
Included within other creditors are amounts relating to an invoice financing facility which amount to £505,189 (2018: £352,555). These amounts are secured by a first fixed and floating charge over the assets in the business.
Included within other creditors are amounts relating to finance lease obligations which amount to £32,719 (2018 £69,072). These amounts are secured by the asset the finance lease relates to.
Included within other creditors are amounts relating to finance lease obligations which amount to £70,367 (2018: £118,297). These amounts are secured by the asset the finance lease relates to.
SERVICE SPORT (UK) LIMITED
Notes to the Accounts
for the period from 31 December 2023 to 29 December 2024
Allotted, called up and fully paid:
95,000 A Ordinary Shares of £0.01 each of £0.01 each
950
950
2,400 B Ordinary Shares of £0.01 each of £0.01 each
24
24
2,400 C Ordinary Shares of £0.01 each of £0.01 each
24
24
100 D Ordinary Shares of £0.01 each of £0.01 each
1
1
100 E Ordinary Shares of £0.01 each of £0.01 each
1
1
Dividends totalling £660 (2019: £660) were paid in the year in respect of shares held by the company's directors.
Within other creditors are amounts due to directors which amounted to £3,467 (2019: £NIL).
Included within creditors are amounts relating to loans which amount to £277,997 (2019: £323,787). These amounts are secured by a personal guarantee provided by the director.
11
Transactions with related parties
During the year the company made sales to Servicesport Finance Limited of £142,888 (2019: £146,016) and at the year end the amount was due from Servicesport Finance Limited was £425,745 (2019: £165,070). At the year end the amount due to Servicesport Group Limited was £379,177 (2018: £203,595 due from). During the year the company made sales to Instyle Clothing Limited of £10,676 (2019:£nil). At the end of the year the amount due to Instyle Clothing Limited was £2,821 (2019:£nil). These companies are related through common control.
The ultimate parent company is Service Sport Group a company registered in England under company number 12361863 and whose registered office is 1-2 Drumhead Road, Chorley North Industrial Park, Chorley, PR6 7BX.
13
Average number of employees
During the period the average number of employees was 65 (2023: 65).