Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 02748136 Saurav Ghosal John Nimick Ashley Bernhard Ziad Al Turki Sarah Jane Perry Ahmad Bassam Mohamed ElShorbagy Amanda Sobhy Tommy Berden iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02748136 2022-12-31 02748136 2023-12-31 02748136 2023-01-01 2023-12-31 02748136 frs-core:CurrentFinancialInstruments 2023-12-31 02748136 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 02748136 frs-core:FurnitureFittings 2023-12-31 02748136 frs-core:FurnitureFittings 2023-01-01 2023-12-31 02748136 frs-core:FurnitureFittings 2022-12-31 02748136 frs-core:OtherResidualIntangibleAssets 2023-12-31 02748136 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 02748136 frs-core:OtherResidualIntangibleAssets 2022-12-31 02748136 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 02748136 frs-bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 02748136 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 02748136 frs-bus:SmallEntities 2023-01-01 2023-12-31 02748136 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02748136 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02748136 frs-core:UnlistedNon-exchangeTraded 2023-12-31 02748136 frs-core:UnlistedNon-exchangeTraded 2022-12-31 02748136 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 02748136 frs-core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 02748136 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 02748136 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 02748136 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 02748136 frs-bus:Director1 2023-01-01 2023-12-31 02748136 frs-bus:Director2 2023-01-01 2023-12-31 02748136 frs-bus:Director3 2023-01-01 2023-12-31 02748136 frs-bus:Director4 2023-01-01 2023-12-31 02748136 frs-bus:Director5 2023-01-01 2023-12-31 02748136 frs-bus:Director6 2023-01-01 2023-12-31 02748136 frs-bus:Director7 2023-01-01 2023-12-31 02748136 frs-bus:Director8 2023-01-01 2023-12-31 02748136 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 02748136 frs-core:CurrentFinancialInstruments 1 2023-12-31 02748136 frs-core:CurrentFinancialInstruments 4 2023-12-31 02748136 frs-countries:EnglandWales 2023-01-01 2023-12-31 02748136 2021-12-31 02748136 2022-12-31 02748136 2022-01-01 2022-12-31 02748136 frs-core:CurrentFinancialInstruments 2022-12-31 02748136 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 02748136 frs-core:CurrentFinancialInstruments 1 2022-12-31 02748136 frs-core:CurrentFinancialInstruments 4 2022-12-31
Registered number: 02748136
Professional Squash Association
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 02748136
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 35,820 22,926
Tangible Assets 5 82,648 103,309
Investments 6 204,898 143,322
323,366 269,557
CURRENT ASSETS
Debtors 7 517,513 1,800,656
Cash at bank and in hand 1,754,914 323,726
2,272,427 2,124,382
Creditors: Amounts Falling Due Within One Year 8 (1,776,061 ) (1,692,605 )
NET CURRENT ASSETS (LIABILITIES) 496,366 431,777
TOTAL ASSETS LESS CURRENT LIABILITIES 819,732 701,334
NET ASSETS 819,732 701,334
Income Statement 819,732 701,334
MEMBERS' FUNDS 819,732 701,334
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Ziad Al Turki
Director
25/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Professional Squash Association is a private company, limited by guarantee, incorporated in England & Wales, registered number 02748136 . The registered office is Top Floor West, 46 The Calls, Leeds, LS2 7EY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets represents website development expenditure which is capitalised as it will generate income for the business in future periods.
The capitalised expenditure is amortised to the Income Statement over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on a reducing balance basis
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.
2.6. Taxation
Income tax expense represents tax currently payable.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.7. Investments in subsidiaries and associates
Investments in subsidiaries are stated at cost in the financial statements of the company .
Investments in associates and unlisted companies are stated at fair value in the financial statements of the company .
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 8)
11 8
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4. Intangible Assets
Other
£
Cost
As at 1 January 2023 199,914
Additions 20,645
As at 31 December 2023 220,559
Amortisation
As at 1 January 2023 176,988
Provided during the period 7,751
As at 31 December 2023 184,739
Net Book Value
As at 31 December 2023 35,820
As at 1 January 2023 22,926
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 180,017
As at 31 December 2023 180,017
Depreciation
As at 1 January 2023 76,708
Provided during the period 20,661
As at 31 December 2023 97,369
Net Book Value
As at 31 December 2023 82,648
As at 1 January 2023 103,309
6. Investments
Unlisted
£
Cost
As at 1 January 2023 143,322
Fair value adjustments 61,576
As at 31 December 2023 204,898
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 204,898
As at 1 January 2023 143,322
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The net book value of unlisted investments as at 31 December 2023 of £204,898 comprises the cost of investments of £69,914 plus revaluations of £73,408 in 2021 and £61,576 in 2023.
In line with the company’s accounting policies on unlisted investments, the directors believe the current valuation accurately reflects their fair value at 31 December 2023.
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 159,316 56,573
Prepayments and accrued income 24,497 16,543
Other debtors 273,803 51,473
Amounts owed by group undertakings 59,897 1,676,067
517,513 1,800,656
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 194,316 230,868
Other taxes and social security - 15,528
Deferred Membership Income 239,030 267,060
Deferred Tournament Income 304,074 253,996
Other creditors due 1,038,641 925,153
1,776,061 1,692,605
9. Related Party Transactions
At the year end, the Professional Squash Association was due £20,000 (2022: £20,000) from Learn from a Legend Limited, a trading subsidiary of Learn from a Legend (2021) Limited, in which it held 10% of the ordinary share capital.
Squash Media & Marketing Limited
At the year end, Squash Media & Marketing Limited owed the Professional Squash Association £59,897 (2022: £1,676,066) and was subject to net recharges of £1,175,388 from the Professional Squash Association during the year (2022: £708,502).
The Professional Squash Association is related to Squash Media & Marketing Limited by virtue of its control.
Professional Squash Association Foundation
The Professional Squash Association incurred costs of £150,000 (2022: £125,000) in relation to aligned objectives of the Professional Squash Association Foundation.
At the year end, the company owed the Professional Squash Association Foundation £48,368 (2022: £53,670).
The Professional Squash Association is related to the Professional Squash Association Foundation by virtue of its control.
10. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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