Registered number
03493957
SPORTING EVENTS WORLDWIDE LIMITED
Unaudited Filleted Abridged Accounts
30 November 2023
SPORTING EVENTS WORLDWIDE LIMITED
Registered number: 03493957
Abridged Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,600 12,311
10,600 12,311
Current assets
Debtors 4 37,186 28,980
Cash at bank and in hand 2,119,971 1,721,351
2,157,157 1,750,331
Creditors: amounts falling due within one year (414,752) (196,391)
Net current assets 1,742,405 1,553,940
Total assets less current liabilities 1,753,005 1,566,251
Creditors: amounts falling due after more than one year (18,667) (125,860)
Provisions for liabilities (2,398) (2,333)
Net assets 1,731,940 1,438,058
Capital and reserves
Called up share capital 30,000 30,000
Profit and loss account 1,701,940 1,408,058
Shareholders' funds 1,731,940 1,438,058
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
M Saward
Director
Approved by the board on 16 January 2024
SPORTING EVENTS WORLDWIDE LIMITED
Notes to the Abridged Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Total
£
Cost
At 1 December 2022 29,301
Additions 159
At 30 November 2023 29,460
Depreciation
At 1 December 2022 16,990
Charge for the year 1,870
At 30 November 2023 18,860
Net book value
At 30 November 2023 10,600
At 30 November 2022 12,311
4 Debtors 2023 2022
£ £
Amounts due after more than one year included in debtors - -
5 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years - -
- -
6 Loans to directors
Description and conditions
There were no loans to the directors in the period
7 Related party transactions
There were no related party transactions in the year (2022 -£97,690)
8 Controlling party
Mr M Saward controls the company
9 Other information
SPORTING EVENTS WORLDWIDE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
4 Heddon Court
Cockfosters Road
Herts EN4 0DE
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