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Company No: 12370335 (England and Wales)

# TPF SPORTS LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

TPF SPORTS LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

TPF SPORTS LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 30 June 2025
TPF SPORTS LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Current assets |  |  |  |
Debtors | 3 | 51,969 |  | 11,124
Cash at bank and in hand |  | 3,481 |  | 33,805
|  | 55,450 |  | 44,929
Creditors: amounts falling due within one year | 4 | ( 148,540) |  | ( 141,616)
Net current liabilities |  | (93,090) |  | (96,687)
Total assets less current liabilities |  | (93,090) |  | (96,687)
Net liabilities |  | ( 93,090) |  | ( 96,687)
Capital and reserves |  |  |  |
Called-up share capital | 5 | 100 |  | 100
Profit and loss account |  | ( 93,190 ) |  | ( 96,787 )
Total shareholders' deficit |  | ( 93,090) |  | ( 96,687)

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of TPF Sports Limited (registered number: 12370335) were approved and authorised for issue by the Director. They were signed on its behalf by:

S J Strapp Director |

01 April 2026

TPF SPORTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
TPF SPORTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

TPF Sports Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The Company has made a loss of £3,597 during the year, and as at the Statement of Financial Position date has net liabilities of £93,090. Within creditors, £127,207 is due to the parent Company. The parent Company has confirmed their support regarding repayments owed to the parent Company if it can do so without prejudicing its business and providing financial support if and when required to enable the Company to continue as a going concern.
The financial statements have therefore been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements and will be able to meet its debts as and when they fall due, following confirmation of continuing support from the company's parent company.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover 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. Turnover 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

##### Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including the director | 2 |  | 2

#### 3. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 2,922 |  | 7,754
Amounts owed by group undertakings | 48,957 |  | 0
Other taxation and social security | 0 |  | 3,278
Other debtors | 90 |  | 92
| 51,969 |  | 11,124

#### 4. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 3,105 |  | 4,138
Amounts owed to group undertakings | 127,207 |  | 130,772
Accruals | 3,800 |  | 3,550
Other taxation and social security | 14,428 |  | 3,156
| 148,540 |  | 141,616

#### 5. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 6. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 306 |  | 285

Pensions

The company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 0 |  | 37

#### 7. Ultimate controlling party

The company is a wholly owned subsidiary of TPF Sports HK Limited, a company registered in Hong Kong. The Registered Office and principal place of business is Unit 713, 7th Floor, East Ocean Centre, 98 Granville Rd, Tsim Sha Tsui East, Kowloon, HK.
The ultimate parent is TPF Holdings Limited, a company incorporated in the British Virgin Islands.
Where possible, the company has taken advantage of the exemption conferred by section 33.1A of FRS 102 from the requirement to disclose transactions with other wholly owned group undertakings.