MERX SPORTS GROUP LTD

Company Registration Number:
13727677 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2022

Period of accounts

Start date: 08 November 2021

End date: 30 November 2022

MERX SPORTS GROUP LTD

Contents of the Financial Statements

for the Period Ended 30 November 2022

Balance sheet
Notes

MERX SPORTS GROUP LTD

Balance sheet

As at 30 November 2022


Notes

13 months to 30 November 2022


£
Called up share capital not paid: 0
Fixed assets
Tangible assets: 3 55,000
Investments: 4 4,915,000
Total fixed assets: 4,970,000
Current assets
Stocks: 0
Cash at bank and in hand: 18,560
Investments:   0
Total current assets: 18,560
Net current assets (liabilities): 18,560
Total assets less current liabilities: 4,988,560
Creditors: amounts falling due after more than one year:   (309,559)
Total net assets (liabilities): 4,679,001
Capital and reserves
Called up share capital: 1
Other reserves: 4,915,000
Profit and loss account: (236,000)
Shareholders funds: 4,679,001

The notes form part of these financial statements

MERX SPORTS GROUP LTD

Balance sheet statements

For the year ending 30 November 2022 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 01 December 2023
and signed on behalf of the board by:

Name: Marco Aurelio Dias Oliveira
Status: Director

The notes form part of these financial statements

MERX SPORTS GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2022

1. Accounting policies

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

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Fixtures and Fittings 10 Straight LineComputer Equipment 10 Straight Line

MERX SPORTS GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2022

2. Employees

13 months to 30 November 2022
Average number of employees during the period 8

MERX SPORTS GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2022

3. Tangible Assets

Total
Cost £
Additions 61,100
At 30 November 2022 61,100
Depreciation
Charge for year 6,100
At 30 November 2022 6,100
Net book value
At 30 November 2022 55,000

MERX SPORTS GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2022

4. Fixed investments

Within the 'Current Investments' category on the balance sheet, the company has invested in a bank bond that is intended to be held for a short term, aligning with our cash management strategy and short-term investment objectives. The details of this investment are as follows:Description of Investment: The company has acquired a bank bond with a face value of £4,915,000.00, reflecting our investment in a fixed-income security issued by the Central Bank of Brazil (BACEN). This investment is part of our broader strategy to manage excess cash effectively while earning a return on idle funds.Interest Rate: The bank bond carries an interest rate of 6.40% per annum. Interest income from this bond is recognized in our income statement under 'Interest Income'.Maturity Date: The bond is due for maturity on, 09/2036 at which point it will be redeemed for its face value. Given its maturity within the next fiscal year, this investment is classified as a 'current investment'.Fair Value: As of the balance sheet date, the fair value of the bank bond stands at £4,915,000.00, based on the prevailing market rates. Any discrepancy between the purchase price and the redemption value is accounted for in accordance with applicable accounting standards, affecting the net income through interest income earned during the holding period.Purpose and Strategy: This investment aligns with the company’s strategy of maintaining a diversified portfolio of short-term investments to optimize liquidity and return on surplus cash. The company continuously evaluates the performance and risk profile of its investment portfolio to ensure alignment with its financial management objectives.This note is intended to provide stakeholders with insight into the company's investment activities and the specific nature of the bank bond within our current investments portfolio. It reflects our commitment to transparency and prudent financial management.

MERX SPORTS GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2022

5. Loans to directors

Name of director receiving advance or credit: Marco Aurelio Dias Oliveira
Description of the loan: Directors loan for the development of Merx Sports Platform Software.
£
Advances or credits made: 309,559
Balance at 30 November 2022 309,559