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COMPANY REGISTRATION NUMBER: 10146115
TXODDS (UK) Limited
Filleted Unaudited Reports and Accounts
30 April 2024
TXODDS (UK) Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
149,521
151,696
Investments
7
75,015
---------
---------
224,536
151,696
Current assets
Debtors
8
1,509,515
1,200,242
Cash at bank and in hand
8,194,498
3,040,704
------------
------------
9,704,013
4,240,946
Prepayments and accrued income
162,450
147,227
Creditors: amounts falling due within one year
9
483,041
545,904
------------
------------
Net current assets
9,383,422
3,842,269
------------
------------
Total assets less current liabilities
9,607,958
3,993,965
Creditors: amounts falling due after more than one year
10
3,458,318
Accruals and deferred income
22,822
75,892
------------
------------
Net assets
6,126,818
3,918,073
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
6,125,818
3,917,073
------------
------------
Shareholders funds
6,126,818
3,918,073
------------
------------
These Reports and Accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its Reports and Accounts for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Reports and Accounts .
TXODDS (UK) Limited
Statement of Financial Position (continued)
30 April 2024
These Reports and Accounts were approved by the board of directors and authorised for issue on 7 January 2025 , and are signed on behalf of the board by:
Mr E Knobel
Mr A Kozlenkov
Director
Director
Company registration number: 10146115
TXODDS (UK) Limited
Notes to the Reports and Accounts
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Hoxton Square, London, N1 6NT, England.
2. Statement of compliance
These Reports and Accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The Reports and Accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The Reports and Accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture & Fixtures
-
Over 5 years
Equipment
-
Over 5 years
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2023: 27 ).
5. Intangible assets
Development costs
£
Cost
At 1 May 2023 and 30 April 2024
7,699
-------
Amortisation
At 1 May 2023 and 30 April 2024
7,699
-------
Carrying amount
At 30 April 2024
-------
At 30 April 2023
-------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 May 2023
49,684
201,948
251,632
Additions
7,908
36,287
44,195
--------
---------
---------
At 30 April 2024
57,592
238,235
295,827
--------
---------
---------
Depreciation
At 1 May 2023
19,937
79,999
99,936
Charge for the year
9,720
36,650
46,370
--------
---------
---------
At 30 April 2024
29,657
116,649
146,306
--------
---------
---------
Carrying amount
At 30 April 2024
27,935
121,586
149,521
--------
---------
---------
At 30 April 2023
29,747
121,949
151,696
--------
---------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 May 2023
Additions
75,015
--------
At 30 April 2024
75,015
--------
Impairment
At 1 May 2023 and 30 April 2024
--------
Carrying amount
At 30 April 2024
75,015
--------
At 30 April 2023
--------
8. Debtors
2024
2023
£
£
Trade debtors
972,005
685,645
Amounts owed by group undertakings and undertakings in which the company has a participating interest
129,418
Other debtors
408,092
514,597
------------
------------
1,509,515
1,200,242
------------
------------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
94,620
59,011
Amounts owed to group undertakings and undertakings in which the company has a participating interest
41,379
41,499
Corporation tax
190,996
333,681
Social security and other taxes
147,182
101,898
Other creditors
8,864
9,815
---------
---------
483,041
545,904
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,458,318
------------
----
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Mr E Knobel
862
862
----
----
12. Controlling party
The company is controlled by TXODDS Sport Betting Limited by virtue of its 100% shareholding. TXODDS Sport Betting Limited's registered office address is: Trafalgar Court Admiral Park St Peter Port Guernsey GY1 3EL