Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The principle activity is that of sports advertising.2024-03-01false322truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03857882 2024-03-01 2024-12-31 03857882 2023-03-01 2024-02-29 03857882 2024-12-31 03857882 2024-02-29 03857882 c:Director6 2024-03-01 2024-12-31 03857882 d:FurnitureFittings 2024-03-01 2024-12-31 03857882 d:FurnitureFittings 2024-12-31 03857882 d:FurnitureFittings 2024-02-29 03857882 d:OfficeEquipment 2024-03-01 2024-12-31 03857882 d:OfficeEquipment 2024-12-31 03857882 d:OfficeEquipment 2024-02-29 03857882 d:ComputerEquipment 2024-03-01 2024-12-31 03857882 d:ComputerEquipment 2024-12-31 03857882 d:ComputerEquipment 2024-02-29 03857882 d:CurrentFinancialInstruments 2024-12-31 03857882 d:CurrentFinancialInstruments 2024-02-29 03857882 d:Non-currentFinancialInstruments 2024-12-31 03857882 d:Non-currentFinancialInstruments 2024-02-29 03857882 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03857882 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 03857882 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 03857882 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 03857882 d:ShareCapital 2024-12-31 03857882 d:ShareCapital 2024-02-29 03857882 d:RetainedEarningsAccumulatedLosses 2024-12-31 03857882 d:RetainedEarningsAccumulatedLosses 2024-02-29 03857882 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 03857882 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 03857882 c:FRS102 2024-03-01 2024-12-31 03857882 c:AuditExempt-NoAccountantsReport 2024-03-01 2024-12-31 03857882 c:FullAccounts 2024-03-01 2024-12-31 03857882 c:PrivateLimitedCompanyLtd 2024-03-01 2024-12-31 03857882 2 2024-03-01 2024-12-31 03857882 4 2024-03-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 03857882









SPORTS NEW MEDIA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
SPORTS NEW MEDIA LIMITED
REGISTERED NUMBER: 03857882

BALANCE SHEET
AS AT 31 DECEMBER 2024

31 December
29 February
2024
2024
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1,413,898
1,622,053

Cash at bank and in hand
 6 
2,232
178,086

  
1,416,130
1,800,139

Creditors: amounts falling due within one year
 7 
(8,120)
(203,526)

Net current assets
  
 
 
1,408,010
 
 
1,596,613

Total assets less current liabilities
  
1,408,010
1,596,613

Creditors: amounts falling due after more than one year
 8 
(1)
(1)

  

Net assets
  
1,408,009
1,596,612


Capital and reserves
  

Called up share capital 
  
131
131

Profit and loss account
  
1,407,878
1,596,481

  
1,408,009
1,596,612


Page 1

 
SPORTS NEW MEDIA LIMITED
REGISTERED NUMBER: 03857882
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 on 5 June 2025.




................................................
H Morales Valdes
Director

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

Page 2

 
SPORTS NEW MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Sports New Media Limited is a private company limited by shares, incorporated in England and Wales (registered number: 03857882).
The registered office and principal place of business address is 5-13 Hatton Wall, London, EC1N 8HX.
The principal activity of the company during the period was provision of media and advertisement campaigns and publications.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net asset position the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
SPORTS NEW MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Interest income

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

 
2.6

Current and deferred taxation

The tax expense for the period 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.

Page 4

 
SPORTS NEW MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years
Office equipment
-
3 years
Computer equipment
-
3 years

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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

Page 5

 
SPORTS NEW MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2024 - 22).

Page 6

 
SPORTS NEW MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Tangible fixed assets







Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2024
2,768
8,035
11,045
21,848



At 31 December 2024

2,768
8,035
11,045
21,848



Depreciation


At 1 March 2024
2,768
8,035
11,045
21,848



At 31 December 2024

2,768
8,035
11,045
21,848



Net book value



At 31 December 2024
-
-
-
-



At 29 February 2024
-
-
-
-


5.


Debtors

31 December
29 February
2024
2024
£
£


Trade debtors
-
24

Amounts owed by group undertakings
-
684,224

Other debtors
5
5

Prepayments and accrued income
635,762
-

Deferred taxation
778,131
937,800

1,413,898
1,622,053


Page 7

 
SPORTS NEW MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Cash and cash equivalents

31 December
29 February
2024
2024
£
£

Cash at bank and in hand
2,232
178,086

2,232
178,086



7.


Creditors: Amounts falling due within one year

31 December
29 February
2024
2024
£
£

Trade creditors
19
110

Amounts owed to group undertakings
-
78,683

Other taxation and social security
-
112,732

Other creditors
1
1

Accruals and deferred income
8,100
12,000

8,120
203,526



8.


Creditors: Amounts falling due after more than one year

31 December
29 February
2024
2024
£
£

Amounts owed to group undertakings
1
1

1
1


Page 8

 
SPORTS NEW MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

9.


Deferred taxation






2024


£






At beginning of year
937,800


Charged to profit or loss
(159,669)



At end of year
778,131

The deferred tax asset is made up as follows:

31 December
29 February
2024
2024
£
£


Tax losses carried forward
778,131
937,800

778,131
937,800


10.


Related party transactions

The company is a wholly owned subsidiary of Sports New Media Holdings Limited and as such has taken advantage of the exemption permitted by Section 33 'Related party disclosures' not to provide disclosures of transaction entered into with other wholly owned members of the group.


11.


Controlling party

The immediate parent company is Sports New Media Holdings Limited, a company incorporated in England and Wales.
The ulimate parent company and controlling party is Sn&ck Media Inc which is situated in and operates in the United States. The trading address is 411 Giralda Ave, Coral Gables, FL 33134, United States. 

 
Page 9