SKYRACE MEDIA LTD

Company Registration Number:
14082468 (England and Wales)

Unaudited micro entity accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

SKYRACE MEDIA LTD

Contents of the Financial Statements

for the Period Ended 31 May 2024

Company Information - 3
Profit and Loss Account - 4
Balance sheet - 5
Footnotes to the Balance Sheet - 7

SKYRACE MEDIA LTD

Company Information

for the Period Ended 31 May 2024




Registered office: 128
City Road
London
England
EC1V 2NX
Company Registration Number: 14082468 (England and Wales)

SKYRACE MEDIA LTD

Profit and Loss Account

for the Period Ended 31 May 2024


2024
£
13 months to
31 May 2023
£
Turnover 676 205
Income from coronavirus (COVID-19) business support grants 0 -
Other Income 0 1,000
Cost of Materials ( 0 ) -
Staff Costs ( 0 ) -
Depreciation and Writeoffs ( 0 ) -
Other charges ( 1,007 ) ( 210 )
Tax on Profit ( 0 ) ( 190 )
Profit or (Loss) for Period ( 331 ) 805

SKYRACE MEDIA LTD

Balance sheet

As at 31 May 2024


2024
£
13 months to
31 May 2023
£
Fixed Assets: 3,000 1,500
Current assets: 690 1,037
Creditors: amounts falling due within one year: ( 86 ) ( 86 )
Net current assets (liabilities): 604 951
Total assets less current liabilities: 3,604 2,451
Creditors: amounts falling due after more than one year: ( 0 ) ( 0 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 3,604 2,451
Capital and reserves: 3,604 2,451

SKYRACE MEDIA LTD

Balance sheet continued

For the year ending 31 May 2024 the company was entitled to exemption 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 of the small companies regime applicable to micro-entities.

This report was approved by the board of directors on 19 February 2025
And Signed On Behalf Of The Board By:

Name: Antoine Havet
Status: Director

The notes form part of these financial statements

SKYRACE MEDIA LTD

Footnotes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Employee Information

    Average number of employees: 0

SKYRACE MEDIA LTD

Footnotes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Off balance sheet disclosure

    Off-Balance Sheet Arrangements for SkyRace Media Ltd as of May 31, 2024

    SkyRace Media Ltd (formerly SkyRace Esports Ltd) continues its mission of organizing and broadcasting AirSports events, particularly in the gliding world, in collaboration with the FAI - World Air Sports Federation. The name change reflects the company’s evolving focus on media and event organization within this niche sport.

    Directors' Contributions:
    The Directors, Mr. Havet and Mr. Chaumontet, have personally acquired essential operational materials, including computers, microphones, cameras, lighting, and software. These assets remain personally owned by the Directors but are anticipated to be gradually acquired by the company as its revenue grows and operations expand.

    Additionally, with the promotion of Jean-David Thoby to PSC, acting as Chief Operating Officer (COO), a share-sharing arrangement among the founders has been established. Mr. Thoby has also joined the Board of Directors, ensuring that strategic decisions are taken with a structured 2VS1 majority voting process.

    Valuation of Assets:
    SkyRace Media Ltd’s fixed assets are primarily intangible and are recorded based on historical cost and estimated cost to recreate.

    Equity:
    The company’s equity consists of £1,000 in issued share capital,
    representing funds raised through share issuance to shareholders.

    Financial Performance and Future Outlook:
    During the period, SkyRace Media Ltd undertook significant projects, including the organization of the 1st FAI Virtual World Gliding Championship and continued work on the FAI Sailplane Grand Prix. These developments followed the company's involvement in organizing and broadcasting the World Series in 2023.

    While the company incurred higher expenses than income due to its expansion and development efforts, revenue is expected to grow by more than 100% in the coming year, leading to a projected positive financial balance.

    Cash Balance and Use of Funds:
    As of May 31, 2024, the company holds a cash balance of £690. The company's main expenses are operational expenses such as website maintenance, virtual race hosting servers, and taxes (Company House, HMRC...).

    The Directors remain authorized to utilize these funds to support the company’s strategic growth and event execution.

    SkyRace Media Ltd remains committed to expanding its presence in the AirSports world, refining its media strategies, and strengthening its partnerships with international governing bodies to promote gliding sports globally. Talks continue with companies worldwide to promote the sport, notably in Asia Pacific and China.