REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2022 |
for |
Alan Ransome Sporting Goods Group |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2022 |
for |
Alan Ransome Sporting Goods Group |
Limited |
Alan Ransome Sporting Goods Group |
Limited (Registered number: 01181988) |
Contents of the Financial Statements |
for the Year Ended 30 June 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Alan Ransome Sporting Goods Group |
Limited |
Company Information |
for the Year Ended 30 June 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Kingfisher Court |
Bowesfield Park |
Stockton on Tees |
TS18 3EX |
Alan Ransome Sporting Goods Group |
Limited (Registered number: 01181988) |
Balance Sheet |
30 June 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Alan Ransome Sporting Goods Group |
Limited (Registered number: 01181988) |
Balance Sheet - continued |
30 June 2022 |
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 |
Alan Ransome Sporting Goods Group |
Limited (Registered number: 01181988) |
Notes to the Financial Statements |
for the Year Ended 30 June 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Alan Ransome Sporting Goods Group Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office is given in the company information page of these financial statements. The main place of business of the group is: Queensway, Skippers Lane Industrial Estate, Middlesbrough, TS3 8TF. |
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 Section1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.The financial statements are prepared in sterling which is the functional currency of the company. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
Sale of goods |
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually on the despatch of the goods. |
Interest receivable |
Interest income is recognised using the effective interest method. |
Tangible fixed assets |
Freehold property | - |
Long leasehold | - |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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. |
Alan Ransome Sporting Goods Group |
Limited (Registered number: 01181988) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2022 |
1. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. |
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. |
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. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss. |
Loans receivable |
Loans are initially recognised at the transaction price. Subsequently they are measured at amortised cost using the effective interest method. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss. |
Judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Alan Ransome Sporting Goods Group |
Limited (Registered number: 01181988) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2022 |
3. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Long | and | Motor |
property | leasehold | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2022 |
DEPRECIATION |
At 1 July 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2021 |
and 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
Alan Ransome Sporting Goods Group |
Limited (Registered number: 01181988) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to participating interests | 122,559 | 3,379 |
Taxation and social security |
Other creditors |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included in debtors are the following loans to directors: |
At 1 July 2021 | Amount advanced | Amount repaid | At 30 June 2022 |
£ | £ | £ | £ |
Director 1 | 13,339 | 132,110 | (113,276 | ) | 32,173 |
Total | 13,339 | 132,110 | (113,276 | ) | 32,173 |
The above loan is unsecured, interest free and repayable on demand. |