Registration number:
Right to Dream Services Limited
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Brebners
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Right to Dream Services Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Right to Dream Services Limited
Company Information
Director |
T A Vernon |
Registered office |
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Auditor |
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Right to Dream Services Limited
Statement of Financial Position as at 31 December 2023
Note |
2023 |
2022 |
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Current assets |
|||
Debtors |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(2,018,745) |
- |
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Shareholders' (deficit)/funds |
(2,018,645) |
100 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
.........................................
T A Vernon
Director
Company registration number: 13173455
Right to Dream Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of football related support services.
Audit Report |
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The company made a loss for the year ended 31 December 2023 and had a deficiency of net assets at that date amounting to £2,018,745.
The company is reliant on the financial support of the group. At this date an amount of £1,741,318 was due to the parent undertaking. The group has confirmed that it will continue to support the company until such time as it has sufficient working capital as the company's support services are key to the group's activities. The group has also undertaken to provide further working capital as required.
After making enquiries, the directors have a reasonable expectation that the company have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis when preparing the financial statements.
Right to Dream Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Income from support services is recognised over the period to which the services relate.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company during the year, was
Debtors |
2023 |
2022 |
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Amounts owed by group undertakings |
- |
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Other debtors |
- |
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- |
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Right to Dream Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Trade creditors |
- |
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Amounts owed to group undertakings |
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Taxation and social security |
- |
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Other creditors |
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Related party transactions |
In accordance with FRS102 paragraph IAC.35, exemption is taken not to disclose transactions in the period or amounts falling due between undertakings where 100% of the voting rights are controlled within the group.
Parent and ultimate parent undertaking |
The smallest group preparing group accounts incorporating the results of the company is headed by Right to Dream Limited. The registered address of Right to Dream Limited is 130 Shaftesbury Avenue, 2nd Floor, London, W1D 5EU.