Professional Players' Federation 02632770 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is is to unite associations representing professional sportsmen and sportswomen of all disciplines and to constitute a standing forum for such bodies Digita Accounts Production Advanced 6.30.9574.0 true 02632770 2023-01-01 2023-12-31 02632770 2023-12-31 02632770 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-12-31 02632770 core:CurrentFinancialInstruments 2023-12-31 02632770 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02632770 core:FurnitureFittingsToolsEquipment 2023-12-31 02632770 bus:SmallEntities 2023-01-01 2023-12-31 02632770 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02632770 bus:FullAccounts 2023-01-01 2023-12-31 02632770 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02632770 bus:RegisteredOffice 2023-01-01 2023-12-31 02632770 bus:Director1 2023-01-01 2023-12-31 02632770 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 02632770 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 02632770 core:OfficeEquipment 2023-01-01 2023-12-31 02632770 countries:EnglandWales 2023-01-01 2023-12-31 02632770 2022-12-31 02632770 core:FurnitureFittingsToolsEquipment 2022-12-31 02632770 2022-01-01 2022-12-31 02632770 2022-12-31 02632770 core:CurrentFinancialInstruments 2022-12-31 02632770 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02632770 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02632770

Professional Players' Federation

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Professional Players' Federation

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Professional Players' Federation

(Registration number: 02632770)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

926

946

Other financial assets

5

96,317

98,059

 

97,243

99,005

Current assets

 

Debtors

6

1,387

11,713

Cash at bank and in hand

 

152,660

121,244

 

154,047

132,957

Creditors: Amounts falling due within one year

7

(68,787)

(44,080)

Net current assets

 

85,260

88,877

Net assets

 

182,503

187,882

Reserves

 

Retained earnings

182,503

187,882

Surplus

 

182,503

187,882

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 5 June 2024 and signed on its behalf by:
 

.........................................
Mr B Batson OBE
Director

   
     
 

Professional Players' Federation

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
7-8 Philpot Lane
London
EC3M 8AA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

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.

These financial statements are prepared in sterling, which is the functional currency of the entity.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Professional Players' Federation

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Asset class

Depreciation method and rate

Office equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 3).

 

Professional Players' Federation

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

966

966

At 31 December 2023

966

966

Depreciation

At 1 January 2023

20

20

Charge for the year

20

20

At 31 December 2023

40

40

Carrying amount

At 31 December 2023

926

926

At 31 December 2022

946

946

5

Investments

Investment portfolio
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

98,059

98,059

Fair value adjustments

(3,280)

(3,280)

Additions

16,853

16,853

Disposals

(15,315)

(15,315)

At 31 December 2023

96,317

96,317

Impairment

Carrying amount

At 31 December 2023

96,317

96,317

 

Professional Players' Federation

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

2023
£

2022
£

Trade debtors

-

4,542

Prepayments

1,387

7,171

1,387

11,713

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,906

5,880

Accruals and deferred income

66,881

38,200

68,787

44,080

8

Related party transactions

Transactions with directors
During the year the company paid £22,000 (2022: £22,605) in consultancy fees and £179 (2022: £754) in expenses to Batson Sports Consultancy Limited, a company which Mr B Batson OBE is a director.

At the balance sheet date the company owed Batson Sports Consultancy Limited £1,906 (2022: £2,079) which is included in Trade Creditors.