John Moore(Sports)limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00301335 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2018

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 2018 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 July 2018

FIXED ASSETS

Tangible assets

4

1,169,114

1,163,910

CURRENT ASSETS

Stocks

719,135

688,862

Debtors

5

42,895

49,932

Investments

6

2,000

2,000

Cash at bank and in hand

1,501

8,748

765,531

749,542

CREDITORS

Amounts falling due within one year

7

576,022

865,583

NET CURRENT ASSETS/(LIABILITIES)

189,509

(116,041

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,358,623

1,047,869

CREDITORS

Amounts falling due after more than one year

8

(712,822

)

(477,035

)

PROVISIONS FOR LIABILITIES

10

(12,129

)

(16,297

)

NET ASSETS

633,672

554,537

CAPITAL AND RESERVES

Called up share capital

11

2,662

4,331

Capital redemption reserve

1,669

-

Other reserves

15,000

15,000

Retained earnings

614,341

535,206

SHAREHOLDERS' FUNDS

633,672

554,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 9 July 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 34 (2017 - 43 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Long

and

Motor

property

leasehold

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2017

1,072,469

-

360,126

14,995

1,447,590

Additions

11,438

18,891

1,002

-

31,331

At 31 January 2018

1,083,907

18,891

361,128

14,995

1,478,921

DEPRECIATION

At 1 February 2017

-

-

279,932

3,748

283,680

Charge for year

-

3,082

20,233

2,812

26,127

At 31 January 2018

-

3,082

300,165

6,560

309,807

NET BOOK VALUE

At 31 January 2018

1,083,907

15,809

60,963

8,435

1,169,114

At 31 January 2017

1,072,469

-

80,194

11,247

1,163,910

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

14,509

13,486

Other debtors

28,386

36,446

42,895

49,932

6.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Unlisted investments

2,000

2,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

92,952

45,087

Trade creditors

88,176

139,508

Taxation and social security

70,657

75,453

Other creditors

324,237

605,535

576,022

865,583

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

712,822

477,035

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.

10.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

12,129

16,297

Deferred

tax

£

Balance at 1 February 2017

16,297

Provided during year

(4,168

)

Balance at 31 January 2018

12,129

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2,662

Ordinary

£1

2,662

4,331

On the 31 October 2017 the company bought back and cancelled 1,669 of the ordinary shares for

£11,360.

12.	SIGNIFICANT JUDGEMENTS AND ESTIMATES

A key estimate made by the directors in preparing these financial statements is the closing value of

stock to reflect reductions to the net realisable value of slow moving or obsolete items. No other

significant judgements or key assumptions have had to be made by the directors in preparing these

financial statements

13.	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 £33 (2016: £429) pension contribution was outstanding.

14.	NON-DISTRIBUTABLE RESERVES

At the balance sheet date reserves are £628,590 of this £16,669 are non-distributable.