Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false2024-01-01false3Sports governance consultancy.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08333818 2024-01-01 2024-12-31 08333818 2023-01-01 2023-12-31 08333818 2024-12-31 08333818 2023-12-31 08333818 2023-01-01 08333818 c:Director1 2024-01-01 2024-12-31 08333818 d:FurnitureFittings 2024-01-01 2024-12-31 08333818 d:FurnitureFittings 2024-12-31 08333818 d:FurnitureFittings 2023-12-31 08333818 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08333818 d:ComputerEquipment 2024-01-01 2024-12-31 08333818 d:ComputerEquipment 2024-12-31 08333818 d:ComputerEquipment 2023-12-31 08333818 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08333818 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08333818 d:CurrentFinancialInstruments 2024-12-31 08333818 d:CurrentFinancialInstruments 2023-12-31 08333818 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08333818 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08333818 d:ShareCapital 2024-12-31 08333818 d:ShareCapital 2023-12-31 08333818 d:RetainedEarningsAccumulatedLosses 2024-12-31 08333818 d:RetainedEarningsAccumulatedLosses 2023-12-31 08333818 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 08333818 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08333818 c:OrdinaryShareClass1 2024-01-01 2024-12-31 08333818 c:OrdinaryShareClass1 2024-12-31 08333818 c:OrdinaryShareClass1 2023-12-31 08333818 c:FRS102 2024-01-01 2024-12-31 08333818 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08333818 c:FullAccounts 2024-01-01 2024-12-31 08333818 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08333818 2 2024-01-01 2024-12-31 08333818 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08333818









I TRUST SPORT LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
I TRUST SPORT LTD
REGISTERED NUMBER: 08333818

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,630
2,322

Current assets
  

Debtors: amounts falling due within one year
 5 
6,643
15,347

Cash at bank and in hand
  
135,436
104,681

  
142,079
120,028

Creditors: amounts falling due within one year
 6 
(12,348)
(5,408)

Net current assets
  
 
 
129,731
 
 
114,620

Total assets less current liabilities
  
133,361
116,942

Provisions for liabilities
  

Deferred tax
 7 
(594)
(362)

Net assets
  
132,767
116,580


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
132,667
116,480

  
132,767
116,580


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 income and retained earnings 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: 



John Rowland Neill Jack
Director

Date: 3 June 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 1

 
I TRUST SPORT LTD
REGISTERED NUMBER: 08333818

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 
I TRUST SPORT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

I Trust Sport Ltd is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The company's regsitered number is 08333818. The address of the registered office and trading address is Unit 162, 155 Minories, London, EC3N 1AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
I TRUST SPORT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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. 
Page 4

 
I TRUST SPORT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

Page 5

 
I TRUST SPORT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and 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 current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are 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 the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
I TRUST SPORT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 1 January 2024
933
3,820
4,753


Additions
97
2,165
2,262


Disposals
(382)
(674)
(1,056)



At 31 December 2024

648
5,311
5,959



Depreciation


At 1 January 2024
527
1,904
2,431


Charge for the year on owned assets
95
479
574


Disposals
(92)
(584)
(676)



At 31 December 2024

530
1,799
2,329



Net book value



At 31 December 2024
118
3,512
3,630



At 31 December 2023
406
1,916
2,322

Page 7

 
I TRUST SPORT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
2,800
4,500

Other debtors
-
696

Prepayments and accrued income
3,843
5,295

Tax recoverable
-
4,856

6,643
15,347



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
4,973
-

Other taxation and social security
3,862
2,464

Other creditors
1,013
844

Accruals and deferred income
2,500
2,100

12,348
5,408



7.


Deferred taxation




2024
2023


£

£






At beginning of year
(362)
(326)


Charged to profit or loss
(232)
(36)



At end of year
(594)
(362)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(594)
(362)

(594)
(362)


 

Page 8

 
I TRUST SPORT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,492 (2023 - £4,149). Contributions totalling £1,013 (2023 - £837) were payable to the fund at the balance sheet date and are included in creditors.


Page 9