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Registered number: 06582489










BRITISH AMATEUR BOXING ASSOCIATION LIMITED
(A company limited by guarantee)










Financial statements

Information for filing with the registrar

for the year ended 31 March 2024

 
BRITISH AMATEUR BOXING ASSOCIATION LIMITED
 
(A company limited by guarantee)
Registered number: 06582489

Balance sheet
as at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
1,065,328
1,085,908

Investments
 4 
1
1

  
1,065,329
1,085,909

Current assets
  

Debtors: amounts falling due after more than one year
 5 
20,000
-

Debtors: amounts falling due within one year
 5 
382,365
309,195

Cash at bank and in hand
 6 
220,326
384,436

  
622,691
693,631

Creditors: amounts falling due within one year
 7 
(238,729)
(142,130)

Net current assets
  
 
 
383,962
 
 
551,501

Total assets less current liabilities
  
1,449,291
1,637,410

  

Net assets
  
1,449,291
1,637,410


Capital and reserves
  

Profit and loss account
  
1,449,291
1,637,410

  
1,449,291
1,637,410


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 comprehensive income 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: 




................................................
Ms L. Walker
Director

Date: 28 March 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
BRITISH AMATEUR BOXING ASSOCIATION LIMITED

(A company limited by guarantee)
 

 
Notes to the financial statements
for the year ended 31 March 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

British Amateur Boxing Association Limited is a private company limited by guarantee and incorporated in the United Kingdom. The address of the registered office is given in the company information of these financial statements. The company's registration number is 06582489. The company's place of business is located at English Institute of Sport, Coleridge Road, Sheffield, South Yorkshire, S9 5DA.
The financial statements have been prepared on a going concern basis under the historical cost convention modified to include items at fair value. The financial statements have been prepared in accordance with FRS 102 Section 1A small entities, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in Sterling which is the functional currency of the company.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
1.2

Going concern

In preparing the financial statements on a going concern basis, the Directors have paid due regard to relevant forecast financial information, including cash flows, and factored in sensitivities and uncertainties affecting the company. In the Directors’ opinion, the company is a going concern for a minimum of twelve months from the date of the approval of the financial statements.

 
1.3

Income

Income represents grants, sponsorship and other income receivable less value added tax where applicable.

  
1.4

Grants

The performance model has been adopted in relation to grant income whereby:
A grant that does not impose specified future performance-related conditions on the recipient is recognised in income when the grant proceeds are received or receivable.
A grant that imposes specified future performance-related conditions on the recipient is recognised in income only when the performance-related conditions are met.

  
1.5

Sponsorship income

All sponsorship income is taken to the income and expenditure account for the period in which it is receivable.

 
1.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
1.7

Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 2

 
BRITISH AMATEUR BOXING ASSOCIATION LIMITED

(A company limited by guarantee)
 

 
Notes to the financial statements
for the year ended 31 March 2024

1.Accounting policies (continued)

 
1.8

Taxation

The tax expense for the year comprises current tax. Tax is recognised in the profit and loss account, unless it relates to items in other comprehensive income or directly in equity. In such cases, the restated tax is also other comprehensive income or directly in equity.
Current tax liabilities are measured at the amount expected to be paid, based on tax rates and laws that are enacted or substantively enacted at the balance sheet date.

 
1.9

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.

Depreciation is provided on the following basis:

Freehold property
-
Straight line basis over 50 years
Fixtures and fittings
-
25% reducing balance basis
Gym equipment
-
Straight line basis over 3-5 years
Computer equipment
-
Straight line basis over 3 years

 
1.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.11

Short term debtors and creditors

Debtors and creditors with no stated interest rate or that are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account in other administrative expenses.

 
1.12

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash in hand and short term deposits with an original maturity date of three months or less.

 
1.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.14

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.


2.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 18).

Page 3

 
BRITISH AMATEUR BOXING ASSOCIATION LIMITED

(A company limited by guarantee)
 

 
Notes to the financial statements
for the year ended 31 March 2024

3.


Tangible fixed assets





Freehold land and buildings
Fixtures and fittings
Gym equipment
Computer equipment
Total

£
£
£
£
£



Cost


At 1 April 2023
1,306,727
149,336
112,969
62,971
1,632,003


Additions
-
31,808
-
1,328
33,136


Disposals
-
-
-
(2,118)
(2,118)



At 31 March 2024

1,306,727
181,144
112,969
62,181
1,663,021



Depreciation


At 1 April 2023
268,842
119,608
103,312
54,333
546,095


Charge for the year on owned assets
26,135
12,478
9,250
3,911
51,774


Disposals
-
-
-
(176)
(176)



At 31 March 2024

294,977
132,086
112,562
58,068
597,693



Net book value



At 31 March 2024
1,011,750
49,058
407
4,113
1,065,328



At 31 March 2023
1,037,885
29,728
9,657
8,638
1,085,908

Fixed assets have been purchased out of funding from UK Sport and Sport England. The funding for the purchase of the company's freehold buildings was provided on the condition that the company gives written notice to UK Sport before it enters into any such sales, transfer, lease, disposal or change of use to the freehold buildings to which the funding relates.

Page 4

 
BRITISH AMATEUR BOXING ASSOCIATION LIMITED

(A company limited by guarantee)
 

 
Notes to the financial statements
for the year ended 31 March 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2023
1



At 31 March 2024
1






Net book value



At 31 March 2024
1



At 31 March 2023
1


5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
20,000
-

20,000
-


2024
2023
£
£

Due within one year

Trade debtors
30
-

Amounts owed by group undertakings
56,693
14,770

Other debtors
32,839
14,728

Prepayments and accrued income
292,803
279,697

382,365
309,195



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
220,326
384,436


Page 5

 
BRITISH AMATEUR BOXING ASSOCIATION LIMITED

(A company limited by guarantee)
 

 
Notes to the financial statements
for the year ended 31 March 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
162,413
51,998

Corporation tax
-
2,950

Other taxation and social security
29,972
26,101

Other creditors
12,656
6,338

Accruals and deferred income
33,688
54,743

238,729
142,130


There are charges held by external parties in relation to some of the freehold property owned by the company.



8.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


9.


Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £80,560 (2023: £77,502).
Contributions totalling £Nil (2023: £Nil) were payable to the scheme at the end of the year and are included in creditors.


10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
177,108
177,108

Later than 1 year and not later than 5 years
844
177,952

177,952
355,060


11.Other financial commitments

The company has subscribed to guarantee an amount of £1 in relation to a company limited by guarantee, GB Sport Media Limited.

Page 6

 
BRITISH AMATEUR BOXING ASSOCIATION LIMITED

(A company limited by guarantee)
 

 
Notes to the financial statements
for the year ended 31 March 2024

12.


Related party transactions

The following balances and transactions with related parties occurred in the year:
Related Boxing Associations
One director is also a director of England Boxing Limited.
During the year total sales and recharges were £41,780 (2023: £109,744).
During the year total purchases and recharges were £5,869 (2023: £30,241).
An amount of £nil (2023: £nil) is included within trade debtors.

One director is also a director of Welsh Amateur Boxing Association Limited.
During the year there were purchases and recharges of £nil (2023: £11,123).
An amount of £10,199 (2023: £10,199) is included within prepayments.

One director is also a director of World Boxing.
During the year a loan of £30,000 was paid to World Boxing and sits within other debtors.
This is an interest free loan with no repayments made to date.

Group companies
The company has taken advantage of the exemption in section 33.1A of FRS 102 from disclosing transactions with other members of the group where there is 100% control within the group.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 28 March 2025 by Sarah Flear (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.


14.
 

Provisions available for audits of small entities

In common with many other businesses of this size and nature, the company uses their auditors to assist with the preparation of the financial statements.


Page 7