Company Registration No. 14052141 (England and Wales)
CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
339,811
762
Current assets
Debtors
4
944,856
510
Cash at bank and in hand
15
-
0
944,871
510
Creditors: amounts falling due within one year
5
(1,382,383)
(762)
Net current liabilities
(437,512)
(252)
Net (liabilities)/assets
(97,701)
510
Capital and reserves
Called up share capital
636
510
Share premium account
491,875
-
0
Profit and loss reserves
(590,212)
-
0
Total equity
(97,701)
510

For the financial year ended 31 July 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 20 March 2025
DB Kreyling
Director
Company registration number 14052141 (England and Wales)
CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Creating Sector Leaders Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lower Barn Farm, London Road, Rayleigh, Essex, SS6 9ET.

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
Fixed asset investments

Interests in subsidiaries 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.

Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

1.3
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.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6

Exceptional items

Exceptional items are separately disclosed where they are material and relevant to an understanding of financial performance.

2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,011
762
Other investments other than loans
3,300
-
0
Loans
335,500
-
0
339,811
762
Financial assets for which fair value cannot be measured reliably

Unlisted investments totalling £3,300 (2023 - £nil) represent a minority holding in a limited company which the company intends to hold for the long term. There is no active market for this investment and as such fair value information has not been disclosed because it cannot be measured reliably. The investment is carried at historic cost less accumulated provisions for impairment.

 

Loans totalling £335,500 (2023 - £nil) have also been made to this entity and are carried at amortised costs.

CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Loans
Total
£
£
£
£
Cost or valuation
At 1 August 2023
762
-
-
762
Additions
1,060
3,300
335,500
339,860
Disposals
(811)
-
-
(811)
At 31 July 2024
1,011
3,300
335,500
339,811
Carrying amount
At 31 July 2024
1,011
3,300
335,500
339,811
At 31 July 2023
762
-
-
0
762

During the year on 23 October 2023 the company acquired a 49% shareholding in Omnia Education Limited of 49 Ordinary £1 for £49.

 

During the year on 7 June 2024 the company acquired a 100% shareholding on incorporation of 100 Ordinary £1 shares in Omnia Sports Group Limited for £100.

 

During the year on 18 July 2024 the company acquired a 100% shareholding in Omnia Sports Education Limited of 100 Ordinary £1 for £100.

 

As part of a share for share exchange on 18 July 2024 the company acquired 811 Ordinary £1 shares for £811 in Omnia Sports Group Limited and disposed of a 100% shareholding in Active Apprentice Limited of 1 Ordinary £1 for £1, a 100% shareholding in Omnia Sports Services Limited of 100 Ordinary £1 shares for £100, a 100% shareholding in Omnia Sports Community Limited of 100 Ordinary £1 shares for £100, a 100% shareholding in Omnia Sports Media Limited of 510 Ordinary £1 shares for £510 and a 100% shareholding in Omnia Sports Education Limited of 100 Ordinary £1 shares for £100.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
708,906
-
0
Other debtors
235,950
510
944,856
510
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
273
-
0
Other creditors
1,382,110
762
1,382,383
762
CREATING SECTOR LEADERS LIMITED
(FORMERLY OMNIA SPORTS GROUP LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
6
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
7,699
-
Entities over which the entity has control, joint control or significant influence
701,207
-

No interest was charged in respect of amounts due from related parties.

Other information

In accordance with FRS102 the company has not disclosed transactions with other wholly owned members of the group.

7
Parent company

The parent company of Creating Sector Leaders Limited is DK & EK Holdings Limited and its registered office is Lower Barn Farm, London Road, Rayleigh, Essex, SS6 9ET.

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