Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3121142023-01-01falseSpecialised design activitiestruetrue 10405720 2023-01-01 2023-12-31 10405720 2023-12-31 10405720 2022-01-01 2022-12-31 10405720 2022-12-31 10405720 c:Director1 2023-01-01 2023-12-31 10405720 d:ComputerEquipment 2023-01-01 2023-12-31 10405720 d:ComputerEquipment 2023-12-31 10405720 d:ComputerEquipment 2022-12-31 10405720 d:CurrentFinancialInstruments 2023-12-31 10405720 d:CurrentFinancialInstruments 2022-12-31 10405720 d:Non-currentFinancialInstruments 2023-12-31 10405720 d:Non-currentFinancialInstruments 2022-12-31 10405720 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10405720 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10405720 d:ShareCapital 2023-12-31 10405720 d:ShareCapital 2022-12-31 10405720 d:ForeignCurrencyTranslationReserve 2023-12-31 10405720 d:ForeignCurrencyTranslationReserve 2022-12-31 10405720 d:RetainedEarningsAccumulatedLosses 2023-12-31 10405720 d:RetainedEarningsAccumulatedLosses 2022-12-31 10405720 c:FRS102 2023-01-01 2023-12-31 10405720 c:Audited 2023-01-01 2023-12-31 10405720 c:FullAccounts 2023-01-01 2023-12-31 10405720 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10405720 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 10405720







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SPORTCAST LIMITED






































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SPORTCAST LIMITED
REGISTERED NUMBER:10405720



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
-
5,787

  
-
5,787

Current assets
  

Debtors: amounts falling due after more than one year
 5 
1,380
-

Debtors due within 1 year
 5 
17,931,702
10,043,490

Bank and cash balances
  
1,945,427
511,728

  
19,878,509
10,555,218

Creditors: amounts falling due within one year
 6 
(5,669,842)
(3,798,924)

Net current assets
  
 
 
14,208,667
 
 
6,756,294

Total assets less current liabilities
  
14,208,667
6,762,081

Provisions for liabilities
  

Deferred tax
  
-
(1,447)

  
 
 
-
 
 
(1,447)

Net assets
  
14,208,667
6,760,634


Capital and reserves
  

Called up share capital 
  
100
100

Capital contributions
  
641,348
641,348

Profit and loss account
  
13,567,219
6,119,186

  
14,208,667
6,760,634


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
J E Levin
Director

Date: 1 October 2024

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 


SPORTCAST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Sportcast Limited is a private Company limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is given on the Company Information page. The principal place of business is the same as the registered office.

The Company's functional and presentational currency is GBP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated via the operation of a betting platform and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 


SPORTCAST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
33%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 -21).

Page 3

 


SPORTCAST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 January 2023
16,300


Disposals
(14,132)



At 31 December 2023

2,168



Depreciation


At 1 January 2023
10,513


Disposals
(8,345)



At 31 December 2023

2,168



Net book value



At 31 December 2023
-



At 31 December 2022
5,787

Page 4

 


SPORTCAST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax asset
1,380
-

1,380
-


2023
2022
£
£

Due within one year

Trade debtors
4,758,823
3,352,259

Amounts owed by group undertakings
8,536,750
1,250,855

Other debtors
17,372
286,915

Prepayments and accrued income
4,617,664
5,153,461

Tax recoverable
1,093
-

17,931,702
10,043,490



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
257,910
229,923

Amounts owed to group undertakings
5,254,798
2,142,890

Corporation tax
-
1,187,528

Other taxation and social security
19,095
64,931

Other creditors
51,611
12,117

Accruals
86,428
161,535

5,669,842
3,798,924



7.


Parent company

At the year end, the parent of the smallest group for which consolidated financial statements were drawn up was Sportcast Pty Ltd. The registered office of the parent company is The Commons Cremorne, 10-20 Gwynne Street, Cremorne Vic 3121. 


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 2 October 2024 by Tom Woods FCA (Senior statutory auditor) on behalf of Menzies LLP
 
Page 5