Company registration number 05531099 (England and Wales)
RUNNING HIGH EVENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RUNNING HIGH EVENTS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 10
RUNNING HIGH EVENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023 - unaudited
Notes
£
£
£
£
Fixed assets
Tangible assets
3
19,643
Current assets
Debtors
4
158,624
126,820
Cash at bank and in hand
584,774
254,968
743,398
381,788
Creditors: amounts falling due within one year
5
(872,695)
(463,911)
Net current liabilities
(129,297)
(82,123)
Total assets less current liabilities
(129,297)
(62,480)
Creditors: amounts falling due after more than one year
6
(13,803)
(66,510)
Net liabilities
(143,100)
(128,990)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(143,200)
(129,090)
Total equity
(143,100)
(128,990)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 June 2025 and are signed on its behalf by:
HW Brasher
Director
Company registration number 05531099 (England and Wales)
RUNNING HIGH EVENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023 - unaudited
100
(233,393)
(233,293)
Period ended 31 December 2023:
Profit and total comprehensive income
-
104,303
104,303
Balance at 31 December 2023 - unaudited
100
(129,090)
(128,990)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(14,110)
(14,110)
Balance at 31 December 2024
100
(143,200)
(143,100)
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Running High Events Limited is a private company limited by shares incorporated in England and Wales. The registered office is 190 Great Dover Street, London, England, SE1 4YB.
1.1
Reporting period
The reporting period ended 31 December 2023 is a short period of 9 months. Therefore the prior period financial statements (including the related notes) or the period ended 31 December 2023 are not entirely comparable.
1.2
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.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Revenue arises from events organisation. Revenue is measured at the fair value of the consideration received or receivable and represents amounts for the sale of services in the normal course of business, net of discounts and other sales-related taxes.
Income from entry fees is recognised when the event is held.
Sponsorship and similar income is recognised over the duration of the respective contracts.
Amounts relating to future accounting periods are carried forward within accruals and deferred income.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less 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 and fittings
25% on a reducing balance and 15% on reducing balance
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.
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 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.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of 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 deducting all of its liabilities.
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.8
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.
1.9
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.
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.
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.10
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, if considered material to the financial statements.
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.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
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 leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023 - unaudited
Number
Number
Total
4
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 - unaudited
71,313
Disposals
(71,313)
At 31 December 2024
Depreciation and impairment
At 1 January 2024 - unaudited
51,670
Eliminated in respect of disposals
(51,670)
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023 - unaudited
19,643
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Debtors
2024
2023 - unaudited
Amounts falling due within one year:
£
£
Trade debtors
57,265
30,897
Other debtors
101,359
95,923
158,624
126,820
5
Creditors: amounts falling due within one year
2024
2023 - unaudited
£
£
Bank loans
52,252
47,363
Trade creditors
27,637
33,866
Amounts owed to group undertakings
1,680
Corporation tax
1,940
27,787
Other taxation and social security
4,200
Other creditors
789,186
350,695
872,695
463,911
6
Creditors: amounts falling due after more than one year
2024
2023 - unaudited
£
£
Bank loans
13,803
66,510
7
Loans and overdrafts
2024
2023
£
£
Bank loans
66,055
113,873
Payable within one year
52,252
47,363
Payable after one year
13,803
66,510
Bank loans are repayable in instalments over 5 years. Interest charged on the loans is 8.9% per annum.
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
8
Called up share capital
2024
2023 - unaudited
2024
2023 - unaudited
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Paul Gainford
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
23 June 2025
10
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
£
£
Within one year
14,000
14,000
11
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Purchases
Purchases
2024
2023
£
£
Other related parties
10,000
-
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Related party transactions
(Continued)
- 9 -
2024
2023
Amounts due to related parties
£
£
Other related parties
12,000
-
Other information
The company is a wholly owned subsidiary and has taken advantage of the exemption permitted by Section 33 Related Party Disclosures not to provide disclosures of transactions entered into with other wholly owned members of the group.
RUNNING HIGH EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
12
Parent company
In February 2024, the entire share capital of Running High Events Limited was acquired by London Marathon Events Limited, a company incorporated in England and Wales.
The parent of the smallest group for which consolidated financial statements are prepared is London Marathon Charitable Trust Limited, this entity's ultimate parent. London Marathon Charitable Trust Limited's registered office address is 190 Great Dover Street, London, SE1 4YB.
13
Prior period reclassification
The comparative reclassification relates to costs of £501,799 being re-allocated from 'cost of sales' to 'administrative expenses'. This adjustment has been made to present a fairer representation of the company's operations. There has been no change in overall results reported for the period.
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