Company registration number 04149178 (England and Wales)
FOOTBALL MUNDIAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FOOTBALL MUNDIAL LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 6
FOOTBALL MUNDIAL LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF FOOTBALL MUNDIAL LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Football Mundial Limited for the period ended 31 December 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Football Mundial Limited, as a body, in accordance with the terms of our engagement letter dated 16 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Football Mundial Limited and state those matters that we have agreed to state to the board of directors of Football Mundial Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Football Mundial Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Football Mundial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Football Mundial Limited. You consider that Football Mundial Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Football Mundial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jerroms GCN Limited
30 August 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
FOOTBALL MUNDIAL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
31 December 2023
20 October 2022
Notes
£
£
£
£
Current assets
Stocks
4
1,063
1,063
Debtors
5
10,107
40,001
Cash at bank and in hand
171,581
66,083
182,751
107,147
Creditors: amounts falling due within one year
6
(181,689)
(89,378)
Net current assets
1,062
17,769
Capital and reserves
Called up share capital
7
6
6
Profit and loss reserves
1,056
17,763
Total equity
1,062
17,769
FOOTBALL MUNDIAL LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 August 2024
Mr M Bowdler
Director
Company registration number 04149178 (England and Wales)
FOOTBALL MUNDIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information
Football Mundial Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office can be found on the Company Information page.
1.1
Reporting period
The accounting period has been extended from 20th October to 31st December to bring the entity in line with the parent company Silvaque Holdings Limited. As a result the comparative periods results are not entirely comparable to the current period.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Revenue is measured at the fair value of the other consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of 10 years.
1.5
Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
Taxation
Taxation for the period 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
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 statement of financial position date.
FOOTBALL MUNDIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period end and that are expected to apply to the reversal of the timing differences.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is possible that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 21 October 2022 and 31 December 2023
33,750
Amortisation and impairment
At 21 October 2022 and 31 December 2023
33,750
Carrying amount
At 31 December 2023
At 20 October 2022
4
Stocks
2023
2022
£
£
Stocks
1,063
1,063
FOOTBALL MUNDIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,107
7,558
Amounts owed by group undertakings
26,646
Other debtors
5,000
5,000
Prepayments and accrued income
797
10,107
40,001
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
34,697
40,366
Trade creditors
15,157
39,415
Amounts owed to group undertakings
93,700
Corporation tax
32,776
9,124
Other taxation and social security
492
473
Other creditors
1,934
Accruals and deferred income
2,933
181,689
89,378
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4
4
6
4
Ordinary B shares of £1 each
2
2
-
2
6
6
6
6
8
Parent company
The controlling party is Silvaque Holdings Limited.