Company registration number 06676870 (England and Wales)
CLUBCOM INTERNATIONAL LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CLUBCOM INTERNATIONAL LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
CLUBCOM INTERNATIONAL LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
42,228
48,425
Tangible assets
5
31,706
49,307
73,934
97,732
Current assets
Stocks
77,368
50,494
Debtors
6
4,472,738
5,386,173
Cash at bank and in hand
623,119
1,065,523
5,173,225
6,502,190
Creditors: amounts falling due within one year
7
(3,544,335)
(4,962,488)
Net current assets
1,628,890
1,539,702
Net assets
1,702,824
1,637,434
Capital and reserves
Called up share capital
8
5,001
5,001
Share premium account
276,532
276,532
Other reserves
1,161,983
1,161,983
Profit and loss reserves
259,308
193,918
Total equity
1,702,824
1,637,434

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 June 2025 and are signed on its behalf by:
B Lindy
Director
Company registration number 06676870 (England and Wales)
CLUBCOM INTERNATIONAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Clubcom International Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 London Street, Reading, Berkshire.

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.

1.2
Going concern

The Company has recorded a operating profit for the year and the directors have reviewed budgets for the next twelve months from the date of the approval of the accounts. Following this review, the directors consider that there will be no impact on the Company's ability to continue as a going concern.

 

The directors will monitor performance closely to identify whether any further action becomes necessary to protect the business. Based on the above and information available to the directors at the date of approval, the company continues to adopt the going concern basis in preparing these financial statements.

1.3
Turnover

Turnover represents net invoiced sales of services, excluding value added tax and adjusted for amounts relating to different accounting periods as included in deferred income. Rebates due to customers are recognised as reductions of turnover where these are contractually due to clients.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Database
10% on cost
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
33% on cost
CLUBCOM INTERNATIONAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
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.

1.8
Financial instruments
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.

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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CLUBCOM INTERNATIONAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease's asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CLUBCOM INTERNATIONAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees

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

2024
2023
Number
Number
Total
21
23
4
Intangible fixed assets
Database
£
Cost
At 1 January 2024 and 31 December 2024
61,800
Amortisation and impairment
At 1 January 2024
13,375
Amortisation charged for the year
6,197
At 31 December 2024
19,572
Carrying amount
At 31 December 2024
42,228
At 31 December 2023
48,425
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
468,311
Additions
6,116
Disposals
(8,637)
At 31 December 2024
465,790
Depreciation and impairment
At 1 January 2024
419,004
Depreciation charged in the year
22,689
Eliminated in respect of disposals
(7,609)
At 31 December 2024
434,084
Carrying amount
At 31 December 2024
31,706
At 31 December 2023
49,307
CLUBCOM INTERNATIONAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,843,510
2,737,107
Amounts owed by group undertakings
1,219,351
2,182,965
Prepayments and accrued income
369,973
426,197
4,432,834
5,346,269
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
39,904
39,904
Total debtors
4,472,738
5,386,173
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
951,162
616,833
Amounts owed to group undertakings
775,629
1,291,327
Taxation and social security
351,457
517,125
Other creditors
1,466,087
2,537,203
3,544,335
4,962,488
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,001
5,001
5,001
5,001
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

CLUBCOM INTERNATIONAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Audit report information
(Continued)
- 7 -
Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Tracey Wickens
Statutory Auditor:
MGI Midgley Snelling LLP
Date of audit report:
25 June 2025
10
Financial commitments, guarantees and contingent liabilities

As at the end of the year there was a debenture in place relating to a cross charge given for finance provided to Zoom Media Corp, Zoom Media Ltd, Zoom Media Acquisition Inc and Clubcom LLC. The charge consists of a floating charge over all the property or undertakings of the company.

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
365,787
448,920
12
Parent company

Zoom Media Group Inc (incorporated in Canada) is regarded by the directors as being the company's parent company. Zoom Media Group Inc heads both the largest and smallest group within which the subsidiary belongs and for which consolidated accounts are prepared.

 

Franbeau Inc (incorporated in Canada) is regarded by the directors as being the company's ultimate parent company.

13
Retirement benefit schemes

The company operates a defined contribution pension scheme for all qualifying employees. Contributions amounting to £29,742 (2023: £4,982) were outstanding at the year and included in other creditors.

2024-12-312024-01-01falsefalsefalse25 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityF D G BeaubienB LindyD Wellard066768702024-01-012024-12-31066768702024-12-31066768702023-12-3106676870core:ComputerSoftware2024-12-3106676870core:ComputerSoftware2023-12-3106676870core:OtherPropertyPlantEquipment2024-12-3106676870core:OtherPropertyPlantEquipment2023-12-3106676870core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3106676870core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106676870core:CurrentFinancialInstruments2024-12-3106676870core:CurrentFinancialInstruments2023-12-3106676870core:ShareCapital2024-12-3106676870core:ShareCapital2023-12-3106676870core:SharePremium2024-12-3106676870core:SharePremium2023-12-3106676870core:OtherMiscellaneousReserve2024-12-3106676870core:OtherMiscellaneousReserve2023-12-3106676870core:RetainedEarningsAccumulatedLosses2024-12-3106676870core:RetainedEarningsAccumulatedLosses2023-12-3106676870core:ShareCapitalOrdinaryShareClass12024-12-3106676870core:ShareCapitalOrdinaryShareClass12023-12-3106676870bus:Director22024-01-012024-12-3106676870core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3106676870core:ComputerSoftware2024-01-012024-12-3106676870core:FurnitureFittings2024-01-012024-12-3106676870core:ComputerEquipment2024-01-012024-12-31066768702023-01-012023-12-3106676870core:ComputerSoftware2023-12-3106676870core:OtherPropertyPlantEquipment2023-12-3106676870core:OtherPropertyPlantEquipment2024-01-012024-12-3106676870core:Non-currentFinancialInstruments2024-12-3106676870core:Non-currentFinancialInstruments2023-12-3106676870bus:OrdinaryShareClass12024-01-012024-12-3106676870bus:OrdinaryShareClass12024-12-3106676870bus:OrdinaryShareClass12023-12-3106676870bus:PrivateLimitedCompanyLtd2024-01-012024-12-3106676870bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3106676870bus:FRS1022024-01-012024-12-3106676870bus:Audited2024-01-012024-12-3106676870bus:Director12024-01-012024-12-3106676870bus:Director32024-01-012024-12-3106676870bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP