SPORTEX GROUP LIMITED

SPORTEX GROUP LIMITED

SPORTEX GROUP LIMITED - Company Information

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SPORTEX GROUP LIMITED

Company Registration Number:
SC266140 (Scotland)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

SPORTEX GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Notes

SPORTEX GROUP LIMITED

Balance sheet

As at 31 December 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 845,238 1,001,949
Total fixed assets: 845,238 1,001,949
Current assets
Stocks: 43,567 10,000
Debtors: 4 4,899,204 1,122,064
Cash at bank and in hand: 595,631 1,426,969
Total current assets: 5,538,402 2,559,033
Creditors: amounts falling due within one year: 5 (1,386,804) (1,535,175)
Net current assets (liabilities): 4,151,598 1,023,858
Total assets less current liabilities: 4,996,836 2,025,807
Creditors: amounts falling due after more than one year: 6 (3,421,645) (526,951)
Total net assets (liabilities): 1,575,191 1,498,856
Capital and reserves
Called up share capital: 1,000 1,000
Share premium account: 17,000 17,000
Profit and loss account: 1,557,191 1,480,856
Shareholders funds: 1,575,191 1,498,856

The notes form part of these financial statements

SPORTEX GROUP LIMITED

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 December 2022
and signed on behalf of the board by:

Name: D Blamire
Status: Director

The notes form part of these financial statements

SPORTEX GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SPORTEX GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

2. Employees

2021 2020
Average number of employees during the period 33 33

SPORTEX GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Tangible Assets

Total
Cost £
At 01 January 2021 2,279,247
Additions 220,636
Disposals (160,061)
At 31 December 2021 2,339,822
Depreciation
At 01 January 2021 1,277,298
Charge for year 337,914
On disposals (120,628)
At 31 December 2021 1,494,584
Net book value
At 31 December 2021 845,238
At 31 December 2020 1,001,949

SPORTEX GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Debtors

2021 2020
££
Debtors due after more than one year: 4,033,041 0

Amounts falling due within one year - £630,552 (2020 - £840,020); Other debtors - £Nil (2020 - £248,358); Directors current accounts - £15,784 (2020 - £18,084); Prepayments and accrued income - £219,827 (2020 - £15,602)

SPORTEX GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

5. Creditors: amounts falling due within one year note

Hire purchase contracts - £203,040 (2020 - £203,040); Trade creditors - £979,338 (2020 - £958,565); Tax - £Nil (2020 - £60,562); Social security and other taxes - £38,164 (2020 - £Nil); VAT - £158,192 (2020 - £152,786); Credit cards - £4,713 (2020 - Nil); Accruals and deferred income - £3,357 (2020 - £160,222)

SPORTEX GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

6. Creditors: amounts falling due after more than one year note

Bank loans 2 - 5 years - £2,698,125 (2020 - £150,000); Hire purchase contracts - £268,520 (2020 - £376,951); Amounts owed to group undertakings - £455,000 (2020 - £Nil)