Company registration number 07981720 (England and Wales)
CLUBSPARK GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CLUBSPARK GROUP LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
CLUBSPARK GROUP LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
34,000
40,000
Tangible assets
4
20,943
30,463
Investments
5
2
2
54,945
70,465
Current assets
Debtors
6
1,943,502
1,786,594
Cash at bank and in hand
472,361
209,180
2,415,863
1,995,774
Creditors: amounts falling due within one year
7
(1,470,120)
(1,334,359)
Net current assets
945,743
661,415
Total assets less current liabilities
1,000,688
731,880
Creditors: amounts falling due after more than one year
8
-
0
(166,659)
Net assets
1,000,688
565,221
Capital and reserves
Called up share capital
1,028
939
Share premium account
6,149,444
4,649,511
Profit and loss reserves
(5,149,784)
(4,085,229)
Total equity
1,000,688
565,221
CLUBSPARK GROUP LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 February 2025 and are signed on its behalf by:
M D Peck
Director
Company registration number 07981720 (England and Wales)
CLUBSPARK GROUP LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
899
4,649,511
(2,720,375)
1,930,035
Year ended 31 March 2023:
Loss and total comprehensive income
-
-
(1,364,854)
(1,364,854)
Issue of share capital
40
-
0
-
40
Balance at 31 March 2023
939
4,649,511
(4,085,229)
565,221
Year ended 31 March 2024:
Loss and total comprehensive income
-
-
(1,064,055)
(1,064,055)
Issue of share capital
94
1,499,933
-
1,500,027
Own shares acquired
-
-
(500)
(500)
Reduction of shares
(5)
-
0
-
0
(5)
Balance at 31 March 2024
1,028
6,149,444
(5,149,784)
1,000,688
CLUBSPARK GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Clubspark Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Tintagel House, 92 Albert Embankment, London, England, SE1 7TY. The company registration number is 07981720.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover form 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.

Turnover derived from the processing of transactions is recognised when the cash has been received which is at the point the transaction is completed.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
10% straight line
CLUBSPARK GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Technology aquired
10% straight line
Fixtures and fittings
25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

The company operates under a defined contribution plan for its employees. A defined contribution plan is a person 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 statement of comprehensive income 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.

CLUBSPARK GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.10
Foreign exchange

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

 

At each period end foreign currency monetary items are translated using the closing rate. Non- monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured items measured at fair value are measured using the exchange rate when fair value was determined.

 

Foreign exchange gains and losses resulting from the settlement of transactions and from the transaction at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

 

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within administrative expenses.

1.11

Research and development tax credit income

Research and development tax credits are recognised when it is possible that any amount claimed will be received. This amount is presented as part of the tax on losses on ordinary activities line in the statement of incomprehensive income.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
67
65
3
Intangible fixed assets
Other
£
Cost
At 1 April 2023 and 31 March 2024
65,000
Amortisation and impairment
At 1 April 2023
25,000
Amortisation charged for the year
6,000
At 31 March 2024
31,000
Carrying amount
At 31 March 2024
34,000
At 31 March 2023
40,000
CLUBSPARK GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Tangible fixed assets
Technology aquired
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2023
13,376
52,641
92,732
158,749
Additions
-
0
-
0
9,661
9,661
Disposals
-
0
(48,052)
(25,808)
(73,860)
At 31 March 2024
13,376
4,589
76,585
94,550
Depreciation and impairment
At 1 April 2023
13,064
47,666
67,556
128,286
Depreciation charged in the year
312
423
13,524
14,259
Eliminated in respect of disposals
-
0
(43,500)
(25,438)
(68,938)
At 31 March 2024
13,376
4,589
55,642
73,607
Carrying amount
At 31 March 2024
-
0
-
0
20,943
20,943
At 31 March 2023
312
4,975
25,176
30,463
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2
2

Investments in subsidiaries are measured at cost less accumulated impairment.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,002,091
716,407
Corporation tax recoverable
520,775
251,130
Amounts owed by group undertakings
24,658
15,999
Other debtors
395,978
803,058
1,943,502
1,786,594
CLUBSPARK GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
150,777
41,665
Trade creditors
220,021
684,583
Amounts owed to group undertakings
47,294
71,509
Taxation and social security
165,551
178,792
Other creditors
886,477
357,810
1,470,120
1,334,359
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
166,659
9
Related party transactions

The company has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly subsidiary undertaking of the group.

10
Parent company

In the opinion of the directors as at the date of issue of the financial statements, there is no single controlling party.

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