Company Registration No. 10455195 (England and Wales)
Planet Sport Limited
Unaudited accounts
for the year ended 31 March 2024
Planet Sport Limited
Unaudited accounts
Contents
Planet Sport Limited
Company Information
for the year ended 31 March 2024
Directors
Angela Jarrett
Barrie Jarrett
George Odysseos
Timothy Satchell
Timothy Orrill-Legg
Desere Orrill-Legg
Company Number
10455195 (England and Wales)
Registered Office
3.10 Avenue Hq
10-12 East Parade
Leeds
West Yorkshire
LS1 2BH
England
Accountants
Sleek Accounting Ltd
205 Regent Street
4th Floor
London
W1B 4HB
Planet Sport Limited
Statement of financial position
as at 31 March 2024
Intangible assets
298,895
299,877
Tangible assets
3,580
8,749
Investments
102,238
102,185
Debtors
1,617,981
1,492,135
Cash at bank and in hand
468,530
221,814
Creditors: amounts falling due within one year
(946,197)
(1,105,494)
Net current assets
1,140,314
608,455
Total assets less current liabilities
1,545,027
1,019,266
Creditors: amounts falling due after more than one year
(30,978)
(49,167)
Net assets
1,514,049
970,099
Called up share capital
4,040
4,040
Profit and loss account
1,510,009
966,059
Shareholders' funds
1,514,049
970,099
For the year ending 31 March 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2025 and were signed on its behalf by
Barrie Jarrett
Director
Company Registration No. 10455195
Planet Sport Limited
Notes to the Accounts
for the year ended 31 March 2024
Planet Sport Limited is a private company, limited by shares, registered in England and Wales, registration number 10455195. The registered office is 3.10 Avenue Hq, 10-12 East Parade, Leeds, West Yorkshire, LS1 2BH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Investments in shares are included at fair value.
Planet Sport Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Computer equipment
6
Investments
Subsidiary undertakings
Valuation at 1 April 2023
102,185
Valuation at 31 March 2024
102,238
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Crowdynews Limited, a company registered in England & Wales.
The registered office of the above entity is The Leeming Building, Vicar Lane, Leeds, LS2 7JF.
50% of the voting rights and shares are held.
The principal activity of Crowdynews Limited is content creation.
Planet Bet Limited, a company registered in England & Wales.
The registered office of the above entity is 255 Old Shoreham Road, Hove, BN3 7ED.
40% of the voting rights and shares are held.
Planet Sport Limited
Notes to the Accounts
for the year ended 31 March 2024
The principal activity of Planet Bet Limited is other publishing activities.
Tipstrr Limited, a company registered in England & Wales.
The registered office of the above entity is 3.10 Avenue Hq 10-12 East Parade, Leeds, England, LS1 2BH.
30% of the voting rights and shares are held.
The principal activity of Tipstrr Limited is Content Services.
Planet Sport PTY, a company registered in South Africa.
The registered office of the above entity is 2nd Floor, The Harrington, 50 Harrington Street, Zonnebloem, Western Cape, 7925, South Africa.
100% of the voting rights and shares are held.
The principal activity of Planet Sport PTY is Content Services.
Amounts falling due within one year
Trade debtors
1,337,921
1,293,939
Amounts due from group undertakings etc.
60,913
87,372
Accrued income and prepayments
-
489
Other debtors
219,147
110,335
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
19,756
20,527
Trade creditors
227,422
406,432
Amounts owed to group undertakings and other participating interests
74,910
-
Taxes and social security
146,404
87,990
Other creditors
184,553
263,866
Loans from directors
72,337
72,337
Deferred income
11,283
41,895
9
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
4,040 Ordinary shares of £1 each
4,040
4,040
Planet Sport Limited
Notes to the Accounts
for the year ended 31 March 2024
11
Transactions with related parties
Crowdynews Limited is a subsidiary of Planet Sport Limited. The amount owed from Crowdynews Limited at the balance sheet date was £0 (2023: £14,094).
Planet Bet Limited is an associate of Planet Sport Limited. The amount owed from Planet Bet Limited at the balance sheet date was £0 (2023: £58,548).
Tipstrr Limited is an associate of Planet Sport Limited. The amount owed to Tipstrr Limited at the balance sheet date was £74,910 (2023: owed from £14,730).
Planet Connect PTY is related to Planet Sport Limited by virtue of common directors. The amount owed from Planet Connect PTY at the balance sheet date was £212,487 (2023 £103,675).
Planet Sport PTY is a subsidiary of Planet Sport Limited. The amount owed from Planet Sport PTY at the balance sheet date was £60,913 (2023 £0).
12
Average number of employees
During the year the average number of employees was 55 (2023: 55).