Kustom Sport Limited - Filleted accounts

Registered number

05089970

Kustom Sport Limited

Filleted Accounts

31 March 2025

Kustom Sport Limited
Registered number:		05089970
Balance Sheet
as at 31 March 2025

Notes			2025		2024

Fixed assets
Tangible assets	4		415,744		420,727

Current assets
Stocks		119,353		127,098
Debtors	5	461,869		438,099
Cash at bank and in hand		18,820		32,862
		600,042		598,059

Creditors: amounts falling due within one year	6	(435,637)		(439,696)

Net current assets			164,405		158,363

Total assets less current liabilities			580,149		579,090

Creditors: amounts falling due after more than one year	7		(297,787)		(311,187)

Provisions for liabilities			(14,567)		(16,256)


Net assets			267,795		251,647

Capital and reserves
Called up share capital			100		100
Profit and loss account			267,695		251,547

Shareholders' funds			267,795		251,647

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




A Benson
Director
Approved by the board on 2 December 2025

Kustom Sport Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings		2% reducing balance
	Leasehold land and buildings		over the lease term
	Plant and machinery		10% - 25% reducing balance
	Motor vehicles		25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Grant income
	Capital and revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			20		24


3	Intangible fixed assets
	Goodwill:

	Cost
	At 1 April 2024					400,000
	At 31 March 2025					400,000

	Amortisation
	At 1 April 2024					400,000
	At 31 March 2025					400,000

	Net book value
	At 31 March 2025					-

	Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Land and buildings	Plant and machinery etc	Motor vehicles		Total

	Cost
	At 1 April 2024	467,905	363,976	74,244		906,125
	Additions	-	14,579	7,500		22,079
	Disposals	-	(8,597)	-		(8,597)
	At 31 March 2025	467,905	369,958	81,744		919,607

	Depreciation
	At 1 April 2024	113,519	317,939	53,940		485,398
	Charge for the year	5,489	13,195	6,951		25,635
	On disposals	-	(7,170)	-		(7,170)
	At 31 March 2025	119,008	323,964	60,891		503,863

	Net book value
	At 31 March 2025	348,897	45,994	20,853		415,744
	At 31 March 2024	354,386	46,037	20,304		420,727


5	Debtors			2025		2024


	Trade debtors			316,930		293,199
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			144,265		144,265
	Other debtors			674		635
				461,869		438,099


6	Creditors: amounts falling due within one year			2025		2024


	Bank loans and overdrafts			90,678		66,465
	Trade creditors			239,326		179,426
	Taxation and social security costs			91,861		180,349
	Other creditors			13,772		13,456
				435,637		439,696


7	Creditors: amounts falling due after one year			2025		2024


	Bank loans			265,255		277,884
	Other creditors			32,532		33,303
				297,787		311,187


8	Loans			2025		2024

	Creditors include:
	Instalments falling due for payment after more than five years			208,085		179,387


	Secured bank loan and overdraft			355,933		344,349

	A bank loan and the bank overdraft are secured on the freehold land and buildings. The company also has a covid bounce back loan that is secured by the UK Government.


9	Other financial commitments			2025		2024


	Total future minimum payments under non-cancellable operating leases			66,198		65,392


10	Related party transactions

	During the year dividends of £67,554 (2024 - £117,900) were paid to the parent company, Kustom Sport Holdings Limited, and the amount owed by Kustom Sport Holdings Limited at the financial year end was £144,265 (2024 - £144,265). Directors’ Remuneration The aggregate remuneration of the directors during the year was: 2025: £21,646 2024: £12,088 Remuneration includes salaries, benefits in kind, pension contributions and other emoluments. Advances, Credits and Guarantees At the balance sheet date, the following amounts were due from/(to) directors: Loan balance: £(52) (2024: £(90)) The loan is interest-free, unsecured and repayable on demand. No guarantees have been given to or on behalf of the directors.


11	Controlling party

	The parent company is Kustom Sport Holdings Limited whose registered office is the same as this company. A C Benson is the ultimate controlling party.


12	Other information

	Kustom Sport Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 6 Middlewood Way
	Carlton
	Barnsley
	South Yorkshire
	S71 3HR