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Registration number: 14731829

The Collegiate Gaming Awards Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

The Collegiate Gaming Awards Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

The Collegiate Gaming Awards Ltd

Company Information

Director

T F Mercey

Registered office

82 St John Street
London
EC1M 4JN

Accountants

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Financial Statements of
The Collegiate Gaming Awards Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Collegiate Gaming Awards Ltd for the year ended 31 December 2024 which comprise the statement of comprehensive income, balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
https://www.icaew.com/regulation/a-z.

It is your duty to ensure that The Collegiate Gaming Awards Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Collegiate Gaming Awards Ltd. You consider that The Collegiate Gaming Awards Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Collegiate Gaming Awards Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Use of our report

This report is made solely to the director of The Collegiate Gaming Awards Ltd in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of The Collegiate Gaming Awards Ltd and state those matters that we have agreed to state to the director of The Collegiate Gaming Awards Ltd in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Collegiate Gaming Awards Ltd and its director for our work or for this report.

......................................

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

7 April 2025

 

The Collegiate Gaming Awards Ltd

(Registration number: 14731829)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

12,869

16,226

Current assets

 

Debtors

5

4,190

6,167

Cash at bank and in hand

 

-

1,458

 

4,190

7,625

Creditors: Amounts falling due within one year

6

(76,494)

(76,632)

Net current liabilities

 

(72,304)

(69,007)

Net liabilities

 

(59,435)

(52,781)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(59,436)

(52,782)

Shareholder's deficit

 

(59,435)

(52,781)

For the financial year ended 31 December 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and the director's report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 7 April 2025
 

.........................................
T F Mercey
Director

 

The Collegiate Gaming Awards Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.

These financial statements were authorised for issue by the director on 7 April 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Disclosure of long or short period

The previous accounting period was the company's first and represented the period from 15 March 2023 to 31 December 2023. The current accounting period represents the 12 months to 31 December 2024 and therefore the two periods are not comparable.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented.

Going concern

The director is of the opinion that the preparation of the financial statements on a going concern basis is justified as the company has received assurance from its parent undertaking to cover its liquidity requirements. On that basis, the director considers that the company will be able to meet its liabilities as they fall due for the foreseeable future, being a period of at least 12 months from the date on which these financial statements are approved.

Turnover

Turnover represents income earned, net of value added tax, in respect of events that have taken place during the period.

Foreign currency transactions and balances

Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. Any differences are recognised in profit or loss. Any non-monetary items that are initially measured at historic cost in a foreign currency are not re-translated at each reporting date.

 

The Collegiate Gaming Awards Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and, where applicable, deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the end of the reporting date and that they are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Intangible assets

The company capitalised its website development expenditure. It is stated in the balance sheet at historic cost, less any subsequent accumulated amortisation and impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, evenly over their useful life as follows:

Asset class

Amortisation method and rate

Website development costs

Straight line basis over 5 years

Cash at bank and in hand

This comprises cash at bank.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

The company's cash at bank, other debtors, trade and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method, where appropriate.

3

Employees and directors information

The company had no employees (2023 - none) and 1 director (2023 - 1) during the year. The director did not receive any remuneration in the year (2023 - £nil).

 

The Collegiate Gaming Awards Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Website development costs
 £

Cost

At 1 January 2024

16,786

At 31 December 2024

16,786

Amortisation

At 1 January 2024

560

Amortisation charge during the year

3,357

At 31 December 2024

3,917

Carrying amount

At 31 December 2024

12,869

At 31 December 2023

16,226

5

Debtors

2024
£

2023
£

Other debtors

3,932

6,167

Prepayments

258

-

4,190

6,167

 

The Collegiate Gaming Awards Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

-

18,472

Amounts due to parent undertaking

30,899

10,899

Amounts due to group undertaking

43,095

44,011

Accruals

2,500

3,250

76,494

76,632

Amounts due to parent and group undertakings are unsecured, interest free and repayable on demand.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

100

1

100

1

       

8

Related party transactions

The company has taken advantage of exemption available in FRS 102 Section 1A not to disclose transactions with its parent undertaking and other wholly owned subsidiary undertakings of its parent undertaking.

9

Ultimate controlling party

At 31 December 2024, the company's parent company was Mega Advanced Ltd incorporated in England with registered office at 82 St John Street, London EC1M 4JN. The parent company does not prepare consolidated financial statements on the basis that it is the parent company of a small group.

L P Mercey is the ultimate controlling party of Mega Advanced Ltd and the company.