Notts Sport Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02012744

Notts Sport Limited

Filleted Unaudited Financial Statements

31 October 2025

Notts Sport Limited

Statement of Financial Position

31 October 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	38,957	52,790

Current assets

Stocks	7	959,471	814,092
Debtors	8	1,531,096	1,003,334
Cash at bank and in hand		228,464	499,060
		------------	------------
		2,719,031	2,316,486

Creditors: amounts falling due within one year	9	1,782,664	1,321,213
		------------	------------
Net current assets		936,367	995,273
		---------	------------
Total assets less current liabilities		975,324	1,048,063

Creditors: amounts falling due after more than one year	10	7,455	104,363

Provisions	11	9,823	13,281
		---------	------------
Net assets		958,046	930,419
		---------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	957,946	930,319
	---------	---------
Shareholders funds	958,046	930,419
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Notts Sport Limited

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 30 April 2026 , and are signed on behalf of the board by:

Mr. S. Patrick

Director

Company registration number: 02012744

Notts Sport Limited

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bridge Farm, Holt Lane, Ashby Manga, Leicestershire, LE17 5NJ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Other than stock and work in progress, which have been disclosed separately, there are no material items in the financial statements where these judgements and estimates have been made.

Revenue recognition and contracts

Turnover represents net invoiced sales of goods and services, excluding value added tax. Revenue is measured at the fair value of the consideration received or receivable for goods and services provided, net of trade discounts, value added and similar sales-based taxes. Revenue from contracts represents the value of the work carried out during the year, including amounts not invoiced. When the outcome of individual contracts can be estimated reliably, contract revenue and contract costs are recognised as revenue and expenses respectively by reference to the stage of completion at the reporting date. Pre-contract costs are expensed as incurred until it is virtually certain that a contract will be awarded, from which time further pre-contract costs are recognised as an asset and charged as an expense over the period of the contract.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

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 rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Fixtures and fittings	-	50% straight line
Equipment	-	33% straight line

Stocks

Stocks and work in progress are valued at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. Work in progress is estimated on work completed in the year that relates to contracts secured,but not recognised, until after the year end. This estimation is calculated on the stage of completion of the project as at the year end date, in line with the production of goods and the completion of the contract.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially measured at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

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

4. Employee numbers

The average number of persons employed by the company during the year amounted to 22 (2024: 22 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	5,317	33,725
Adjustments in respect of prior periods	–	( 1,097)
	-------	--------
Total current tax	5,317	32,628
	-------	--------

Deferred tax:

Origination and reversal of timing differences	( 3,458)	( 5,475)
	-------	--------
Tax on profit	1,859	27,153
	-------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	169,913	277,367
	---------	---------
Profit on ordinary activities by rate of tax	42,438	69,341
Adjustment to tax charge in respect of prior periods	–	( 1,097)
Effect of expenses not deductible for tax purposes	10,524	10,916
Effect of capital allowances and depreciation	3,458	5,475
Research and development tax credit	( 51,103)	( 52,007)
Deferred tax movement	( 3,458)	( 5,475)
	---------	---------
Tax on profit	1,859	27,153
	---------	---------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 November 2024	208,197	24,873	61,254	294,324
Additions	–	–	10,434	10,434
	---------	--------	--------	---------
At 31 October 2025	208,197	24,873	71,688	304,758
	---------	--------	--------	---------
Depreciation
At 1 November 2024	172,273	21,513	47,749	241,535
Charge for the year	14,316	2,827	7,123	24,266
	---------	--------	--------	---------
At 31 October 2025	186,589	24,340	54,872	265,801
	---------	--------	--------	---------
Carrying amount
At 31 October 2025	21,608	533	16,816	38,957
	---------	--------	--------	---------
At 31 October 2024	35,924	3,360	13,505	52,789
	---------	--------	--------	---------

There were no impairments to any tangible fixed assets during the year.

7. Stocks

Stocks for the year are comprised of:

	2025	2024
	£	£
Childsplay & Cricket	401,955	243,338
Stock Held in Canada	–	13,238
Work in Progress	557,516	557,516
	---------	---------
	959,471	814,092
	---------	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	1,176,479	712,020
Amounts recoverable under contract	162,127	81,559
Other debtors	192,490	209,755
	------------	------------
	1,531,096	1,003,334
	------------	------------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	96,863	125,477
Trade creditors	835,395	545,975
Amounts owed to group undertakings	212,245	171,883
Corporation tax	5,153	33,724
Social security and other taxes	243,357	193,383
Other creditors	389,651	250,771
	------------	------------
	1,782,664	1,321,213
	------------	------------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	7,455	104,363
	-------	---------

Bank loans and overdrafts breakdown:

	2025	2024
	£	£
Bank loans - one to two years	96,908	121,882
Bank loans - three to five years	7,455	104,501
	---------	---------
	104,363	226,383
	---------	---------

11. Provisions

	Deferred tax (note 12)
	£
At 1 November 2024	13,281
Unused amounts reversed	( 3,458)
	--------
At 31 October 2025	9,823
	--------

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 11)	9,823	13,281
	-------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	9,823	13,281
	-------	--------

13. Secured debts

The following secured debts are included within creditors:

	2025	2024
	£	£
Bank loans	104,318	226,383
	---------	---------

Bank loans are secured with a fixed and floating charge over the company assets.

14. Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

15. Ultimate controlling party

The ultimate parent company is Notts Sport Group Limited, a company registered in England and Wales.