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REGISTERED NUMBER: 10308071 (England and Wales)


















SPORTS AND WELL BEING
ANALYTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


SPORTS AND WELL BEING
ANALYTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M Bell
C H Turner
D A Whiteley
J Williamson
G Hamilton
A C J Hobbs
M P Loosemore





REGISTERED OFFICE: MHA House, Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS





REGISTERED NUMBER: 10308071 (England and Wales)





ACCOUNTANTS: MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS

SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 210,852 244,342
Tangible assets 6 14,337 27,434
225,189 271,776

CURRENT ASSETS
Stocks 305,393 339,533
Debtors 7 406,050 387,052
Cash at bank 1,348,482 415,578
2,059,925 1,142,163
CREDITORS
Amounts falling due within one year 8 104,858 399,348
NET CURRENT ASSETS 1,955,067 742,815
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,180,256

1,014,591

CREDITORS
Amounts falling due after more than one
year (including convertible debt)

9

2,525,740

-
NET (LIABILITIES)/ASSETS (345,484 ) 1,014,591

CAPITAL AND RESERVES
Called up share capital 11 999,948 999,948
Share premium 5,904,621 5,904,621
Other reserves 281,106 -
Retained earnings (7,531,159 ) (5,889,978 )
SHAREHOLDERS' FUNDS (345,484 ) 1,014,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 4 April 2024 and were signed on its behalf by:





C H Turner - Director


SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Sports and Well Being Analytics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to nearest £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements:

Asset impairment
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.

Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue recognition

Turnover is recognised when the company obtains the right to consideration or by reference to the value of work performed. Other revenue is recognised in the period to which the service relates.

Where consideration has been received for products and services deliverable in future financial year, the income is recognised in creditors as income in advance. Where consideration has not been paid wholly or partly in advance by the end of the financial year in which the products and services relate to, the amount not received at the end of financial year is recognised in trade debtors.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Patents and licences are being amortised evenly over their estimated useful life of five years.

No amortisation is recognised on patent costs until such time as the patent has been granted.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost includes purchase price less discounts where applicable. Net realisable value is based on estimated selling price. Provision is made for obsolete and slow moving items where appropriate.

Financial instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting its liabilities.

Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.


SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Share-based payments
The company has equity-settled share based payments issued to directors and employees. Share options are measured at fair value at the grant date through the income statement.

Going concern
The losses generated in the company's start up period in relation to research and development of the company's product have been funded via share issues and related party loans. The directors have assessed future funding needs and are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they adopt the going concern basis in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 256,420
Additions 42,428
Impairments (71,819 )
At 31 December 2023 227,029
AMORTISATION
At 1 January 2023 12,078
Charge for year 4,099
At 31 December 2023 16,177
NET BOOK VALUE
At 31 December 2023 210,852
At 31 December 2022 244,342

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 50,088
Additions 1,832
At 31 December 2023 51,920
DEPRECIATION
At 1 January 2023 22,654
Charge for year 14,929
At 31 December 2023 37,583
NET BOOK VALUE
At 31 December 2023 14,337
At 31 December 2022 27,434

SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,910 -
Other debtors 394,140 387,052
406,050 387,052

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 38,631 257,765
Taxation and social security 53,768 65,954
Other creditors 12,459 75,629
104,858 399,348

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 2,525,740 -

The net proceeds received from the issue of convertible loan notes have been split between the financial liability element and an equity component, representing the fair value of the embedded option to convert the financial liability ito equity.

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 2,525,740 -

11. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
26,133 Ordinary £1 26,133 26,133
973,815 Ordinary A £1 973,815 973,815
999,948 999,948

SPORTS AND WELL BEING
ANALYTICS LIMITED (REGISTERED NUMBER: 10308071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had total commitments under non-cancellable operating leases of £7,000 (2022: £19,000).

13. SHARE BASED PAYMENT TRANSACTIONS

The company has granted share options to employees, which were still in issue at the balance sheet date, as follows:

Year of issue2017201920212022
Number granted45,4552,8327,16019,175
Exercise price£1.00£22.93 £22.93£22.93
Number of employees1121



At the balance sheet date, the total share options granted to directors were as follows:

Options held
Directors76,636

14. RELATED PARTY DISCLOSURES

Related party transactions within the year and balances at the year end were as follows:

Controlling parties 2023 2022
£    £   
Amounts owed to directors at balance sheet date 152,893 14,694

The above includes £150,784 of convertible loan notes (2022: £0).