| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED |
| REPORT OF THE DIRECTORS AND |
| ABRIDGED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 AUGUST 2024 |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED |
| REPORT OF THE DIRECTORS AND |
| ABRIDGED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 AUGUST 2024 |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED (REGISTERED NUMBER: 12839192) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Churchill Court |
| 58 Station Road |
| North Harrow |
| Middlesex |
| HA2 7ST |
| BANKERS: |
| One Thomas More Square |
| London |
| E1W 1YN |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED (REGISTERED NUMBER: 12839192) |
| BALANCE SHEET |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED (REGISTERED NUMBER: 12839192) |
| BALANCE SHEET - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED (REGISTERED NUMBER: 12839192) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Depreciation on leasehold property has not been provided as, in the opinion of the Board, the value of the property is more than the book value, and providing depreciation would lead to the financial statements not showing a true and fair view. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED (REGISTERED NUMBER: 12839192) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 August 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| Cost or valuation |
| At 1 September 2023 |
| Revaluations |
| At 31 August 2024 |
| Net book value |
| At 31 August 2024 |
| At 31 August 2023 |
| Cost or valuation at 31 August 2024 is represented by: |
| Land and |
| buildings |
| £ |
| Valuation in 2024 | 150,000 |
| Cost | 2,032,944 |
| 2,182,944 |
| If long leasehold property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 2,032,944 | - |
| Value of land in freehold land and buildings | 2,032,944 | - |
| Long leasehold property was valued on open market value basis on 31 August 2024 by the Directors . |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| SG SPORTS AND ENTERTAINMENT |
| SERVICES LIMITED (REGISTERED NUMBER: 12839192) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 August 2024 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Bank loan is secured on the leasehold property. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| Revaluation of property | 112,500 |
| At 31 August 2024 |
| 10. | CONTINGENT LIABILITIES |
| As far as the Board is aware, there were no contingent liabilities at the balance sheet date. |