REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
GLOBAL SPORTING CONNECTIONS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
GLOBAL SPORTING CONNECTIONS LIMITED |
GLOBAL SPORTING CONNECTIONS LIMITED (REGISTERED NUMBER: 08594928) |
Contents of the Financial Statements |
for the year ended 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
GLOBAL SPORTING CONNECTIONS LIMITED |
Company Information |
for the year ended 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
GLOBAL SPORTING CONNECTIONS LIMITED (REGISTERED NUMBER: 08594928) |
Statement of Financial Position |
31 DECEMBER 2023 |
31/12/23 | 31/12/22 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GLOBAL SPORTING CONNECTIONS LIMITED (REGISTERED NUMBER: 08594928) |
Notes to the Financial Statements |
for the year ended 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Global Sporting Connections Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
Cash and cash equivalent |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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. |
Going Concern |
These accounts have been prepared on a going concern basis on the grounds that the directors of the company will not withdraw their support until such a time as the company has funds available to meet its debts and liabilities as and when they fall due. |
GLOBAL SPORTING CONNECTIONS LIMITED (REGISTERED NUMBER: 08594928) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakin |
£ |
COST |
At 1 January 2023 |
Impairments | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Trade creditors | ( |
) |
VAT | - | 205 |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/12/23 | 31/12/22 |
value: | £ | £ |
ordinary shares | 1 | 300 | 300 |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 January 2023 | ( |
) | 4,494 |
Deficit for the year | ( |
) | ( |
) |
At 31 December 2023 | ( |
) | (1,695 | ) |
GLOBAL SPORTING CONNECTIONS LIMITED (REGISTERED NUMBER: 08594928) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
9. | RELATED PARTY EXEMPTION |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
10. | ULTIMATE CONTROLLING PARTY |
The directors control the company by virtue of their direct interest in the whole of the issued share capital. |