REGISTERED NUMBER: 06690242 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPORT AND MUSIC LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

5,509

3,142

CURRENT ASSETS

Stocks

4,951,959

3,104,668

Debtors

5

993,705

1,281,498

Cash at bank and in hand

3,244,655

1,773,998

9,190,319

6,160,164

CREDITORS

Amounts falling due within one year

6

(6,680,956

)

(4,715,282

)

NET CURRENT ASSETS

2,509,363

1,444,882

TOTAL ASSETS LESS CURRENT LIABILITIES

2,514,872

1,448,024

PROVISIONS FOR LIABILITIES

(1,377

)

(785

)

NET ASSETS

2,513,495

1,447,239

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

2,513,475

1,447,219

SHAREHOLDERS' FUNDS

2,513,495

1,447,239

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

D J Poulton - Director

1.	STATUTORY INFORMATION

Sport And Music Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06690242

Registered office:

Dalton House

Floor 3, Suite C

Cross Street

Sale

Manchester

M33 7AR

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 represents net invoiced sales of goods, excluding value added tax, and is recognised when the goods are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes direct materials and labour costs and also those overheads that have been incurred in bringing the stock to its present location and condition. Net realisable value represents sales value less appropriate selling expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

-

9,167

9,167

Additions

1,341

3,162

4,503

Disposals

-

(1,071

)

(1,071

)

At 31 March 2025

1,341

11,258

12,599

DEPRECIATION

At 1 April 2024

-

6,025

6,025

Charge for year

166

1,890

2,056

Eliminated on disposal

-

(991

)

(991

)

At 31 March 2025

166

6,924

7,090

NET BOOK VALUE

At 31 March 2025

1,175

4,334

5,509

At 31 March 2024

-

3,142

3,142

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

756,058

940,177

Other debtors

237,647

341,321

993,705

1,281,498

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,279,146

848,035

Taxation and social security

589,783

204,064

Other creditors

4,812,027

3,663,183

6,680,956

4,715,282

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

7,980

19,345

Between one and five years

-

7,980

7,980

27,325

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

M Meadowcroft

Balance outstanding at start of year

266,310

-

Amounts advanced

123,922

316,652

Amounts repaid

(387,492

)

(50,342

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,740

266,310

D J Poulton

Balance outstanding at start of year

(139,821

)

(92,718

)

Amounts advanced

425,547

41,610

Amounts repaid

(167,707

)

(88,713

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

118,019

(139,821

)

M Meadowcroft and D Poulton will repay their loans before the end of 2025.

9.	RELATED PARTY DISCLOSURES

Included in other debtors are loan balances to companies under common control. The total balance at 31 March 2025 was £2,299 (2024: £1,407). No interest was charged on the loans.

Included in other creditors are loan balances from companies under common control. The total balance at 31 March 2025 was £141 (2024: £141). No interest was charged on the loans.