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Company Registration No. 12877797 (England and Wales)
SELECT GLOBAL EVENTS LTD
Financial Statements
for the Period from 01 October 2021 to 30 September 2022

SELECT GLOBAL EVENTS LTD

Financial Statements for the period ending 30 September 2022

SELECT GLOBAL EVENTS LTD

Financial Statements for the period ending 30 September 2022

Notes to the Accounts

1. Statutory Information
SELECT GLOBAL EVENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 12877797.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes, and provisions for returns and cancellations. Revenue for each category type of revenue is typically fixed at the date of order and is not variable.FRS 102 Section 23 - Rendering of services provides a single principles based model to be applied to sales contracts. It is based on the transfer of control of services to the customer and requires the identification and assessment of the satisfaction of delivery of each performance obligation in contracts to recognise revenue. Where separate performance obligations are identified in a single contract, total revenue is allocated on the basis of relative stand alone selling prices to each performance obligation, or managements best estimate of relative value where stand alone selling prices do not exist.Section 23 makes it clear that contract costs include direct costs attributable to contract activity, and any costs specifically chargeable to the customer and that the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue relating to barter transactions is recorded at fair value and the timing of recognition is in line with the above. Expenses from Barter transactions are recorded at fair value and recognised as incurred. Barter transactions typically involve the trading of show space and/or advertising services in exchange for advertising services to promote the event.For the avoidance of doubt, any direct costs incurred relating to a future event where the performance obligations have not yet been delivered will be carried forward in prepayments or shown in Deferred Income where an invoice value has been received for the same event. See the last page of the of the accounts for the Revenue Recognition Policy for different sales revenue types

SELECT GLOBAL EVENTS LTD

Financial Statements for the period ending 30 September 2022

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2022 8.25
2021 2.91
4. Principal Activity
Global Trade Event Management

SELECT GLOBAL EVENTS LTD

Financial Statements for the period ending 30 September 2022

Notes to the Accounts

5. Debtors
2022 2021
£ £
Trade debtors 92,862 18,353
Other debtors 6,852 1,403
Prepayment and accrued income - 1,476
99,714 21,232
6. Creditors: amount falling due within one year
2022 2021
£ £
Trade Creditors 3,817 475
Other tax and social security 15,811 2,338
Other Creditors 3,651 11,410
Accruals and deferred income 437,655 84,240
460,934 98,463
Creditors Due within one year
Deferred Income represents customer sales less any direct costs incurred for events to be delivered within the next 12 months.

SELECT GLOBAL EVENTS LTD

Financial Statements for the period ending 30 September 2022

Notes to the Accounts

7. Additional Notes
Revenue Recognition Policies for Different Revenue Types continuedRevenue Type - Exhibition space and related servicesPerformance Obligations - Provision of services associated with exhibition and/or conference events.Revenue Recognition Accounting Policy - Performance obligations are satisfied at the point of time that services are provided to the customer with revenue recognised when the event has taken place. In light of postponement for any reason the performance obligations and revenue recognition will align with the revised event dates.Timing of customer payments – Payments for events are normally received in advance of the event date. Typically 50% is received up to 12 months in advance of the event date with the balance 3 months in advance of the event date, and are held are deferred income until the event date. In light of postponement, payments may extend beyond 12 months before the revised event dates.Revenue Type – Attendee Ticket SalesPerformance Obligations - Provision of exhibition and/or conference events.Revenue Recognition Accounting Policy - Performance obligations are satisfied at the point of time that the event is held with attendee revenue recognised when the event has taken place. In light of postponement for any reason the performance obligations and revenue recognition will align with the revised event dates.Timing of customer payments – Payments for events are normally received in advance of the event date or on the day of the event, and are held as deferred income until the event date. In light of postponement, payments may extend beyond 12 months before the revised event dates.Revenue Type – Sponsorship, Marketing & AdvertisingPerformance Obligations - Provision of advertising & marketing services and event sponsorship associated with exhibition and/or conference events.Revenue Recognition Accounting Policy - Performance obligations are satisfied at the point of time that services are provided to the customer with revenue recognised when the event has taken place. In light of postponement for any reason the performance obligations and revenue recognition will align with the revised event dates.Timing of customer payments – Payments for events are normally received in advance of the event date. Typically, 100% is received up to 12 months in advance of the event date and are held are deferred income until the event date. In light of postponement, payments may extend beyond 12 months before the revised event dates.Revenue Type – Credit Card Charges RecoveryPerformance Obligations – Recovery of credit card charges from overseas customers.Revenue Recognition Accounting Policy - Performance obligations are satisfied at the point of time that the customer re-imburses the credit card processing fee to us with revenue recognised at the date of receipt to match the credit card cost. Timing of customer payments – Payments for this facility are received on an ongoing / when required basis.