REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 31st December 2023 |
for |
SOGB PROMOTIONS LIMITED |
REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 31st December 2023 |
for |
SOGB PROMOTIONS LIMITED |
SOGB PROMOTIONS LIMITED (REGISTERED NUMBER: 04399613) |
Contents of the Financial Statements |
for the year ended 31st December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
SOGB PROMOTIONS LIMITED |
Company Information |
for the year ended 31st December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Suffolk House |
George Street |
Croydon |
Surrey |
CR0 0YN |
SOGB PROMOTIONS LIMITED (REGISTERED NUMBER: 04399613) |
Statement of Financial Position |
31st December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
SOGB PROMOTIONS LIMITED (REGISTERED NUMBER: 04399613) |
Notes to the Financial Statements |
for the year ended 31st December 2023 |
1. | STATUTORY INFORMATION |
The principal activity of the company continues to be that of promoting and obtaining sponsorship for the Special Olympics movement in Great Britain. |
SOGB Promotions is a private limited company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The preparation of financial statement in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. |
Turnover |
Turnover comprises revenue recognised by the company in respect of sponsorship income, exclusive of Value Added Tax. |
Turnover from sponsorship income is recognised over the period in which the services are provided when all of the following conditions are satisfied: |
- | the amount of turnover can be measured reliably; |
- | it is probable that the company will receive the consideration due under the contract; and |
- | the stage of completion of the contract at the end of the reporting period can be measured reliably. |
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 accounts receivable and payable and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income. |
For financial assets measured at cost less impairment, the impairment loss is measured at the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the statement of financial position date. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
SOGB PROMOTIONS LIMITED (REGISTERED NUMBER: 04399613) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
VAT | 34,060 | 24,616 |
Accruals and deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
There is a single class of ordinary share. There are no restrictions on the distribution of dividends and the repayment of capital. |
7. | AUDITORS INFORMATION |
The audit report provided to the members of SOGB Promotions Limited on the financial statements for the period ended 31 December 2023 was not qualified. |
The audit report was signed by Alasdair Weaks (Senior Statutory Auditor) for and behalf of Simpson Wreford & Partners, Chartered Accountants and Statutory Auditor. |
8. | RELATED PARTY DISCLOSURES |
No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35, as the company is itself a wholly owned subsidiary of Special Olympics Great Britain. |
9. | ULTIMATE CONTROLLING PARTY |
The immediate and ultimate parent company is Special Olympics Great Britain, a company registered in England and Wales, whose registered office is C/O Two Circles Wework, 125 Kingsway, London, England, WC2B 6NH. |
Special Olympics Great Britain prepares consolidated financial statements and copies can be obtained from Simpson Wreford & Partners, Suffolk House, George Street, Croydon, CR0 0YN. |