Sporting Edge UK Ltd Company accounts


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COMPANY REGISTRATION NUMBER: 05422863
Sporting Edge UK Ltd
Unaudited Financial Statements
30 April 2017
Sporting Edge UK Ltd
Financial Statements
Year ended 30 April 2017
Contents
Page
Director's report
1
Statement of comprehensive income
2
Balance sheet
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Detailed income statement
7
Notes to the detailed income statement
8
Sporting Edge UK Ltd
Director's Report
Year ended 30 April 2017
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2017 .
Principal activities
The principal activity of the company during the year was that of supplying of fitness enhancing equipment.
Director
The director who served the company during the year was as follows:
Mr D P Vincent
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Signed by
Mr D P Vincent Director
Registered office:
Unit J
Loddon Business Centre
Roentgen Road
Basingstoke
Hants
RG24 8NG
Sporting Edge UK Ltd
Statement of Comprehensive Income
Year ended 30 April 2017
2017
Note
£
Turnover
864,553
Cost of sales
510,608
---------
Gross profit
353,945
Distribution costs
23,070
Administrative expenses
266,994
Other operating income
966
---------
Operating profit
64,847
Interest payable and similar expenses
26,151
---------
Profit before taxation
38,696
Tax on profit
-------
Profit for the financial year and total comprehensive income
38,696
-------
All the activities of the company are from continuing operations.
Sporting Edge UK Ltd
Balance Sheet
30 April 2017
2017
Note
£
Fixed assets
Tangible assets
6
9,874
Current assets
Debtors
7
457,293
Creditors: amounts falling due within one year
8
359,841
---------
Net current assets
97,452
---------
Total assets less current liabilities
107,326
Creditors: amounts falling due after more than one year
9
13,085
Accruals and deferred income
2,945
---------
Net assets
91,296
---------
Capital and reserves
Called up share capital
100
Profit and loss account
91,196
-------
Shareholders funds
91,296
-------
For the year ending 30 April 2017 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 year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mr D P Vincent
Director
Company registration number: 05422863
Sporting Edge UK Ltd
Notes to the Financial Statements
Year ended 30 April 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit J, Loddon Business Centre, Roentgen Road, Basingstoke, RG24 8NG, Hants.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 .
5. Intangible assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 May 2016 and 30 April 2017
10,000
40,000
50,000
-------
-------
-------
Amortisation
Charge for the year
10,000
40,000
50,000
-------
-------
-------
At 30 April 2017
10,000
40,000
50,000
-------
-------
-------
Carrying amount
At 30 April 2017
-------
-------
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2016 and 30 April 2017
7,330
13,204
16,217
36,751
------
-------
-------
-------
Depreciation
At 1 May 2016 and 30 April 2017
2,462
11,882
12,533
26,877
------
-------
-------
-------
Carrying amount
At 30 April 2017
4,868
1,322
3,684
9,874
------
-------
-------
-------
7. Debtors
2017
£
Trade debtors
422,472
Other debtors
34,821
---------
457,293
---------
The debtors above include the following amounts falling due after more than one year:
2017
£
Trade debtors
161,257
---------
8. Creditors: amounts falling due within one year
2017
£
Bank loans and overdrafts
139,637
Trade creditors
175,785
Social security and other taxes
45,446
Other creditors
( 1,027)
---------
359,841
---------
9. Creditors: amounts falling due after more than one year
2017
£
Other creditors
13,085
-------
Sporting Edge UK Ltd
Management Information
Year ended 30 April 2017
The following pages do not form part of the financial statements.
Sporting Edge UK Ltd
Detailed Income Statement
Year ended 30 April 2017
2017
£
Turnover
Sales - Goods Purchased
785,033
Sales - Service Contract
41,770
Sales - Online
37,750
---------
864,553
Cost of sales
Materials Purchases
101,294
Misc
219
Tools
1,336
Hardware and Parts
348,494
Pension fund
904
Subcontractor costs
60,169
---------
510,608
---------
Gross profit
353,945
Overheads
Distribution costs
23,070
Administrative expenses
266,994
---------
290,064
Other operating income
966
-------
Operating profit
64,847
Interest payable and similar expenses
(26,151)
-------
Profit before taxation
38,696
-------
Sporting Edge UK Ltd
Notes to the Detailed Income Statement
Year ended 30 April 2017
2017
£
Distribution costs
Packaging materials
1,321
Other distribution costs
119
Freight and carriage
2,793
Freight and carriage - type 2
3,086
Advertising
3,507
Advertising - type 3
846
Advertising - type 4
11,398
-------
23,070
-------
Administrative expenses
Wages and salaries
115,853
Employers national insurance contributions
6,697
Staff pension contributions - other
2,373
Rent
11,108
Rates and water - type 2
257
Light and heat
1,432
Insurance
1,888
Cleaning costs
64
Motor expenses
9,542
Travel and subsistence
23,451
Hire costs (non-operating leases)
35
Telephone
3,297
Office expenses
27,852
Equipment repairs and renewals
11,405
Printing postage and stationery
3,316
Staff training
250
Staff welfare
2,174
Sundry expenses
2,558
Charitable donations (allowable)
85
UK Entertainmrny
212
Entertaining - type 2
2,365
Legal and professional fees (allowable)
3,176
Legal and professional fees (disallowable)
15,000
Other professional fees
5,132
Other professional fees - type 2
27,441
Provision for doubtful debts
(9,537)
Bank charges
(454)
Foreign currency gains/losses
22
---------
266,994
---------
Other operating income
Other operating income
966
----
Interest payable and similar expenses
Interest on bank loans and overdrafts
1,560
Other interest payable and similar charges
24,591
-------
26,151
-------