REGISTERED NUMBER: 11035027 (England and Wales)

Unaudited Financial Statements for the Year Ended 5 April 2025

for

Qinetic Sports Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr Nigel Anthony Fowler

REGISTERED OFFICE:

2 Auckland Avenue

Loxley

Sheffield

South Yorkshire

S6 6QA

REGISTERED NUMBER:

11035027 (England and Wales)

ACCOUNTANTS:

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

HSBC

Unit 3 Carmel House

49-63 Fargate

Sheffield

South Yorkshire

S1 2HD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Qinetic Sports Limited for the year ended 5 April 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Qinetic Sports Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Qinetic Sports Limited and state those matters that we have agreed to state to the director of Qinetic Sports Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Qinetic Sports Limited and its director for our work or for this report.

It is your duty to ensure that Qinetic Sports Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Qinetic Sports Limited. You consider that Qinetic Sports Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Qinetic Sports Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

8 December 2025

FIXED ASSETS

Tangible assets

4

14,413

17,915

CURRENT ASSETS

Stocks

853

1,115

Debtors

5

582

992

Cash at bank

17,333

16,825

18,768

18,932

CREDITORS

Amounts falling due within one year

6

(54,920

)

(44,856

)

NET CURRENT LIABILITIES

(36,152

)

(25,924

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(21,739

)

(8,009

)

CREDITORS

Amounts falling due after more than one year

7

(25,037

)

(30,568

)

NET LIABILITIES

(46,776

)

(38,577

)

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

(47,276

)

(39,077

)

(46,776

)

(38,577

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 December 2025 and were signed by:

Mr Nigel Anthony Fowler - Director

1.	STATUTORY INFORMATION

Qinetic Sports Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Government grants

The company has applied the performance model when accounting for government grants which are received by the company relating to income, expenses or assets.

Stocks

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

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 asset of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern

The financial statements have been prepared on a going concern basis. The company has a deficit in shareholder funds of £47,276 (2024 - £39,077). With the support of the director he believes it appropriate to prepare the accounts on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 6 April 2024

29,147

1,872

31,019

Additions

610

453

1,063

At 5 April 2025

29,757

2,325

32,082

DEPRECIATION

At 6 April 2024

12,145

959

13,104

Charge for year

4,327

238

4,565

At 5 April 2025

16,472

1,197

17,669

NET BOOK VALUE

At 5 April 2025

13,285

1,128

14,413

At 5 April 2024

17,002

913

17,915

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

582

992

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,532

5,528

Other creditors

49,388

39,328

54,920

44,856

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

25,037

30,568

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,910

8,441

8.	SECURED DEBTS

The bank loan is unsecured, but guaranteed by the UK government under the Bounce Back Loan Scheme.