John Moore (Sports) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00301335 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2023

for

JOHN MOORE(SPORTS)LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R J Moore

L Moore

SECRETARY:

R J Moore

REGISTERED OFFICE:

2 Argyle Street

Bath

BA2 4BE

REGISTERED NUMBER:

00301335 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Moore(Sports)limited for the year ended 31 January 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of John Moore(Sports)limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Moore(Sports)limited and state those matters that we have agreed to state to the Board of Directors of John Moore(Sports)limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Moore(Sports)limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that John Moore(Sports)limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Moore(Sports)limited. You consider that John Moore(Sports)limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of John Moore(Sports)limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

12 October 2023

FIXED ASSETS

Tangible assets

4

1,148,899

1,168,232

CURRENT ASSETS

Stocks

708,318

533,244

Debtors

5

48,499

46,763

Investments

6

2,000

2,000

Cash at bank and in hand

24,019

163,763

782,836

745,770

CREDITORS

Amounts falling due within one year

7

890,942

867,428

NET CURRENT LIABILITIES

(108,106

)

(121,658

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,040,793

1,046,574

CREDITORS

Amounts falling due after more than one year

8

(372,884

)

(444,689

)

PROVISIONS FOR LIABILITIES

10

(15,794

)

(20,932

)

NET ASSETS

652,115

580,953

CAPITAL AND RESERVES

Called up share capital

11

2,662

2,662

Capital redemption reserve

1,669

1,669

Other reserves

15,000

15,000

Retained earnings

632,784

561,622

SHAREHOLDERS' FUNDS

652,115

580,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:

R J Moore - Director

1.	STATUTORY INFORMATION

John Moore(Sports)limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 sports goods, excluding value added tax. Turnover is recognised when goods are dispatched.

Tangible fixed assets

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

Freehold property

-

Straight line over 50 years

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and the present value of estimated cash flows discounted at the assets original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 33 (2022 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Long

and

Motor

property

leasehold

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2022

1,083,907

18,891

411,472

23,995

1,538,265

Additions

-

-

2,154

-

2,154

At 31 January 2023

1,083,907

18,891

413,626

23,995

1,540,419

DEPRECIATION

At 1 February 2022

-

14,028

347,757

8,248

370,033

Charge for year

-

1,216

16,334

3,937

21,487

At 31 January 2023

-

15,244

364,091

12,185

391,520

NET BOOK VALUE

At 31 January 2023

1,083,907

3,647

49,535

11,810

1,148,899

At 31 January 2022

1,083,907

4,863

63,715

15,747

1,168,232

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

as

restated

£

£

Trade debtors

39,515

22,806

Other debtors

8,984

23,957

48,499

46,763

6.	CURRENT ASSET INVESTMENTS

2023

2022

as

restated

£

£

Unlisted investments

2,000

2,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

as

restated

£

£

Bank loans and overdrafts

49,863

73,415

Hire purchase contracts

-

9,222

Trade creditors

152,695

159,745

Taxation and social security

147,003

45,049

Other creditors

541,381

579,997

890,942

867,428

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

as

restated

£

£

Bank loans

372,884

444,689

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

148,074

337,733

148,074

337,733

9.	SECURED DEBTS

National Westminster Bank PLC has a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, building, fixtures, fixed plant and machinery.

The hire purchase contracts are secured on the relevant assets.

10.	PROVISIONS FOR LIABILITIES

2023

2022

as

restated

£

£

Deferred tax

15,794

20,932

Deferred

tax

£

Balance at 1 February 2022

20,932

Accelerated capital allowances

(5,138

)

Balance at 31 January 2023

15,794

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

as restated

£

£

2,662

Ordinary

£1

2,662

2,662

12.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the directors and staff. The assets of the scheme are held separately from those of the company in an independently administered fund. At the year end £1,030 (2021: £1,124) pension contribution was outstanding.