Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31true2023-02-01falsesports management and concierge services11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12426007 2023-02-01 2024-01-31 12426007 2022-02-01 2023-01-31 12426007 2024-01-31 12426007 2023-01-31 12426007 c:Director1 2023-02-01 2024-01-31 12426007 d:FurnitureFittings 2023-02-01 2024-01-31 12426007 d:FurnitureFittings 2024-01-31 12426007 d:FurnitureFittings 2023-01-31 12426007 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12426007 d:ComputerEquipment 2023-02-01 2024-01-31 12426007 d:ComputerEquipment 2024-01-31 12426007 d:ComputerEquipment 2023-01-31 12426007 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12426007 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12426007 d:CurrentFinancialInstruments 2024-01-31 12426007 d:CurrentFinancialInstruments 2023-01-31 12426007 d:Non-currentFinancialInstruments 2024-01-31 12426007 d:Non-currentFinancialInstruments 2023-01-31 12426007 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12426007 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12426007 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 12426007 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 12426007 d:ShareCapital 2024-01-31 12426007 d:ShareCapital 2023-01-31 12426007 d:RetainedEarningsAccumulatedLosses 2024-01-31 12426007 d:RetainedEarningsAccumulatedLosses 2023-01-31 12426007 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 12426007 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 12426007 c:OrdinaryShareClass1 2023-02-01 2024-01-31 12426007 c:OrdinaryShareClass1 2024-01-31 12426007 c:FRS102 2023-02-01 2024-01-31 12426007 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12426007 c:FullAccounts 2023-02-01 2024-01-31 12426007 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12426007 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12426007














OBELISK SPORTS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
OBELISK SPORTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
OBELISK SPORTS LIMITED
REGISTERED NUMBER:12426007

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,167
2,408

  
3,167
2,408

Current assets
  

Debtors: amounts falling due within one year
 5 
9,797
20,364

Cash at bank and in hand
 6 
8,049
4,487

  
17,846
24,851

Creditors: amounts falling due within one year
 7 
(61,868)
(29,946)

Net current liabilities
  
 
 
(44,022)
 
 
(5,095)

Total assets less current liabilities
  
(40,855)
(2,687)

Creditors: amounts falling due after more than one year
 8 
(10,000)
-

Provisions for liabilities
  

Deferred tax
 9 
(792)
(602)

  
 
 
(792)
 
 
(602)

Net liabilities
  
(51,647)
(3,289)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(51,747)
(3,389)

  
(51,647)
(3,289)


1

 
OBELISK SPORTS LIMITED
REGISTERED NUMBER:12426007
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2024.




J N F Kelly
Director

The notes on pages 3 to 7 form part of these financial statements.

2

 
OBELISK SPORTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Obelisk Sports Limited is a private company, limited by shares, registered in England and Wales, registration number 12426007. The registered office address is 45 Western Avenue, Egham, TW20 8QB.

The principal activity of the company is sports management and concierge services.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.
The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the director has confirmed he will continue to provide necessary funding in order for the company to maintain operations and meet liabilites in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Turnover

Turnover from sports management and concierge services are recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3

 
OBELISK SPORTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Computer equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

4

 
OBELISK SPORTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including the  director, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
907
1,926
2,833


Additions
-
1,306
1,306



At 31 January 2024

907
3,232
4,139



Depreciation


At 1 February 2023
305
120
425


Charge for the year
120
427
547



At 31 January 2024

425
547
972



Net book value



At 31 January 2024
482
2,685
3,167



At 31 January 2023
602
1,806
2,408

5

 
OBELISK SPORTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
5,471
4,349

Other debtors
-
442

Prepayments and accrued income
4,326
15,573

9,797
20,364



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,049
4,487



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
1,443
1,442

Other creditors
56,175
23,934

Accruals
4,250
4,570

61,868
29,946



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
10,000
-


6

 
OBELISK SPORTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Deferred taxation




2024


£






At beginning of year
602


Charged to profit or loss
190



At end of year
792

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
792
602


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100  Ordinary shares of £1.00 each
100
100



11.


Related party transactions

Included within other creditors is a balance of £34,157 (2023 - £20,239) due to the director. The loan is unsecured, interest free and repayable on demand.

 
7