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Registration number: 9749438

White Rose Sports Management Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

White Rose Sports Management Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

White Rose Sports Management Limited

(Registration number: 9749438)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

111,705

80,799

Other financial assets

5

-

45,500

 

111,705

126,299

Current assets

 

Debtors

6

46,172

95,619

Cash at bank and in hand

 

254,888

39,117

 

301,060

134,736

Creditors: Amounts falling due within one year

7

(727,580)

(1,004,201)

Net current liabilities

 

(426,520)

(869,465)

Net liabilities

 

(314,815)

(743,166)

Capital and reserves

 

Called up share capital

750,263

227

Share premium reserve

489,877

489,877

Retained earnings

(1,554,955)

(1,233,270)

Shareholders' deficit

 

(314,815)

(743,166)

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.

 

White Rose Sports Management Limited

(Registration number: 9749438)
Statement of Financial Position as at 31 December 2023

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 15 August 2024 and signed on its behalf by:
 

.........................................
Mr M J Buck
Director

.........................................
Mr J P Milner
Director

 
     
 

White Rose Sports Management Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Third Floor, Eden Point
Three Acres Lane
Cheadle Hulme
SK8 6RL

These financial statements were authorised for issue by the Board on 15 August 2024.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors and shareholders have confirmed their willingness and ability to continue to support the company and provide necessary working capital to enable the company to meet it's liabilities as they fall due. It is on this basis that the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

 

White Rose Sports Management Limited

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

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:

Asset class

Depreciation method and rate

Leasehold improvements

Over 10 years

Equipment

Over 4 years

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 merchandise sold or 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.

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.

3

Staff numbers

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

 

White Rose Sports Management Limited

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

4

Tangible assets

Plant and machinery
 £

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

19,860

125,685

-

145,545

Additions

54,006

-

1,119

55,125

At 31 December 2023

73,866

125,685

1,119

200,670

Depreciation

At 1 January 2023

1,904

62,842

-

64,746

Charge for the year

11,603

12,569

47

24,219

At 31 December 2023

13,507

75,411

47

88,965

Carrying amount

At 31 December 2023

60,359

50,274

1,072

111,705

At 31 December 2022

17,956

62,843

-

80,799

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

45,500

45,500

Disposals

(45,500)

(45,500)

At 31 December 2023

-

-

Impairment

Carrying amount

At 31 December 2023

-

-

6

Debtors

 

White Rose Sports Management Limited

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

2023
£

2022
£

Trade debtors

31,809

40,000

Other debtors

14,363

55,619

46,172

95,619

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

12,819

6,020

Amounts owed to group undertakings

313,832

243,832

Taxation and social security

3,283

3,209

Accruals and deferred income

3,000

3,000

Other creditors

394,646

748,140

727,580

1,004,201