REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
FOOTBALL 1 X 2 LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
FOOTBALL 1 X 2 LIMITED |
FOOTBALL 1 X 2 LIMITED (REGISTERED NUMBER: 04783082) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FOOTBALL 1 X 2 LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Create Business Hub |
Ground Floor |
5 Rayleigh Road |
Hutton, Brentwood. |
Essex |
CM13 1AB |
FOOTBALL 1 X 2 LIMITED (REGISTERED NUMBER: 04783082) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 6 |
Debtors: amounts falling due after more than one year |
6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
FOOTBALL 1 X 2 LIMITED (REGISTERED NUMBER: 04783082) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
Football 1 X 2 Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible assets are intially recorded at cost and then subsequently stated at cost less accumulated depreciation and any accumulated loss. |
Office equipment: 20% reducing balance |
Computer equipment: 33% reducing balance |
Plant and machinery: 10% reducing balance |
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. |
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. |
Going concern |
The Director assesses whether the use of going concern is appropriate i.e., whether there are any |
material uncertainties related to events or conditions that may cast significant doubt on the ability of |
the Company to continue as a going concern. The Director make this assessment in respect of a |
period of at least one year from the date of authorisation for issue of the financial statements and |
have concluded that the Company has adequate resources to continue in operational existence for |
the foreseeable future and there are no material uncertainties about the Company's ability to continue |
as a going concern, thus they continue to adopt the going concern basis of accounting in preparing |
the financial statements. |
FOOTBALL 1 X 2 LIMITED (REGISTERED NUMBER: 04783082) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | AUDITORS' REMUNERATION |
Period |
1.4.22 |
Year Ended | to |
30.9.23 | 30.9.22 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
8,500 |
6,000 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Rent deposit | 6,071 | 10,592 |
Directors' current accounts | 16,655 | - |
Tax |
VAT |
Accrued income |
Prepayments |
FOOTBALL 1 X 2 LIMITED (REGISTERED NUMBER: 04783082) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
6. | DEBTORS - continued |
2023 | 2022 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Other loans (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 57,762 | - |
Pensions |
Credit cards | 43,005 | 35,077 |
Directors' current accounts | - | 16,679 |
Accruals |
Bank loans and overdrafts include £195,023 in relation to an overdraft facility which is secured by way of a fixed and floating charge over the assets of the company. |
Also included is £254,500 in relation to a loan facility with Newable Business Loans Limited, which is secured by way of a guarantee from the ultimate beneficial owners. |
Also included is £170,944 in relation to a loan facility with Lenkie Technologies Limited, which is secured by way of a guarantee from one of the ultimate benficial owners. |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Other loans |
9. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 1,050 | 1,050 |
FOOTBALL 1 X 2 LIMITED (REGISTERED NUMBER: 04783082) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 October 2022 |
Profit for the year |
At 30 September 2023 |
11. | RELATED PARTY DISCLOSURES |
The company has taken exception available at FRS102 1AC.35 from disclosing related party transactions with other wholly-owned members of the group. |
The company generated revenue of £Nil (2022 - £160,000) in relation to work conducted on behalf of Chase Racing 4 Ltd, an entity with joint control. Amounts of £106,131 (2022 - £283,439) were invoiced to the Company for work conducted on behalf of Football 1x2 Limited. At the balance sheet date, the amount due by Football 1x2 Limited was £73,306 (2022 - £136,906). |
As at the balance sheet date 30 September 2023, the amount owed to Football 1x2 Limited by Pumboo Limited, an entity with joint control, was £1,660 (2022: £1,400). No revenue or expenditure with Pumboo Limited was recognised in the financial year. |
The company generated revenue of £228,910 (2022 - £754,036) in relation to work conducted on behalf of 1x2Network Malta Ltd. As at the balance sheet date 30 September 2023 £435,565 (2022: £285,071) was oustanding as due. |
As at the balance sheet date 30 September 2023, the amount owed to Football 1x2 Limited by Pumboo International Limited, a entity in which Football 1x2 Limited has a controlling interest, was £52,107 (2022: £52,107). No revenue or expenditure with Pumboo International Limited was recognised in the financial year. |
12. | ULTIMATE CONTROLLING PARTY |
On 01/02/22 Mr B Reid ceased significant control and 1x2 Network Ltd became the person with significant control. |