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Registration number: 06430519

Threshold Sports Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Threshold Sports Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 11

 

Threshold Sports Limited

Company Information

Directors

S J Tindall

H Zurbrugg

Registered office

Edge House
1st Floor
42 Bond Street
Brighton
BN1 1RD

Auditors

Smailes Goldie
Chartered AccountantsStatutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

 

Threshold Sports Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Threshold Sports Limited

(Registration number: 06430519)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

6

414,334

539,904

Tangible assets

7

78,420

111,380

 

492,754

651,284

Current assets

 

Debtors

8

3,170,901

2,762,810

Other financial assets

-

1,899

Cash at bank and in hand

 

255,918

1,161,044

 

3,426,819

3,925,753

Creditors: Amounts falling due within one year

9

(1,725,934)

(2,700,006)

Net current assets

 

1,700,885

1,225,747

Total assets less current liabilities

 

2,193,639

1,877,031

Provisions for liabilities

(20,372)

(29,412)

Net assets

 

2,173,267

1,847,619

Capital and reserves

 

Called up share capital

10

648

648

Share premium reserve

64,000

64,000

Capital redemption reserve

300

300

Retained earnings

2,108,319

1,782,671

Shareholders' funds

 

2,173,267

1,847,619

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 21 July 2025 and signed on its behalf by:
 

.........................................
H Zurbrugg
Director

 

Threshold Sports Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Share premium
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2024

648

64,000

300

1,782,671

1,847,619

Profit for the year

-

-

-

325,648

325,648

At 31 December 2024

648

64,000

300

2,108,319

2,173,267

Share capital
£

Share premium
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2023

648

64,000

300

1,536,094

1,601,042

Profit for the year

-

-

-

246,577

246,577

At 31 December 2023

648

64,000

300

1,782,671

1,847,619

 

Threshold Sports Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Edge House
1st Floor
42 Bond Street
Brighton
BN1 1RD

These financial statements were authorised for issue by the Board on 21 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
• The amount of revenue can be reliably measured;
• It is probable that future economic benefits will flow to the entity; and
• Specific criteria have been met for each of the company's activities.

 

Threshold Sports Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Deferred revenue

The company recognises revenue on an event by event basis and all revenue recevied from participants,donations and sponsorships for a specific event are deferred until the month in which the event has taken place.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on Reducing balance

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition.

 

Threshold Sports Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

15% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Threshold Sports Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2023 - 32).

4

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

9,420

9,060


 

5

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

51,269

36,904

Amortisation expense

125,570

89,567

(Profit)/loss on disposal of tangible fixed assets

-

(2,216)

 

Threshold Sports Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Intangible assets

Goodwill
£

Total
£

Cost or valuation

At 1 January 2024

771,369

771,369

At 31 December 2024

771,369

771,369

Amortisation

At 1 January 2024

231,465

231,465

Amortisation charge

125,570

125,570

At 31 December 2024

357,035

357,035

Carrying amount

At 31 December 2024

414,334

414,334

At 31 December 2023

539,904

539,904

7

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

433,297

21,501

454,798

Additions

18,309

-

18,309

At 31 December 2024

451,606

21,501

473,107

Depreciation

At 1 January 2024

321,917

21,501

343,418

Charge for the year

51,269

-

51,269

At 31 December 2024

373,186

21,501

394,687

Carrying amount

At 31 December 2024

78,420

-

78,420

At 31 December 2023

111,380

-

111,380

 

Threshold Sports Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

8

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

73,080

392,947

Amounts owed by related parties

13

2,423,042

1,779,770

Prepayments

 

343,608

392,220

Other debtors

 

331,171

197,873

   

3,170,901

2,762,810

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

14,969

41,449

Amounts owed to related parties

-

95,076

Taxation and social security

50,183

116,041

Accruals and deferred income

1,622,021

2,436,575

Other creditors

38,761

10,865

1,725,934

2,700,006

The company has a debebenture over the assets of the business dated March 2015 covering the agreed corporate charge card facility. Hard facilities over £50k are secured by a Debenture over the assets of the business.

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

648

648

648

648

       
 

Threshold Sports Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

42,050

42,050

Later than one year and not later than five years

126,150

168,200

168,200

210,250

12

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

3,259

3,269

13

Parent and ultimate parent undertaking

In 2019, Infront Sports & Media UK Limited purchased all of the shares held in the company at which point it became a 100% owned subsidiary of the Infront Sports & Media Group.

At the year end, Infront Sports & Media AG, Switzerland (the immediate parent company of Infront Sports & Media UK Limited) owed a group debt to the company of £2.37m (2023 £1.78m) which included accrued interest at a rate of 11.32% per annum.

Infront Sports & Media UK Limited produces consolidated Financial Statements which include the results of the company.These are available from the registered office of Infront Sports & Media UK Limited or from Companies House in the UK.

The registered office of the immediate parent is Grafenauweg 2, Zug, Switzerland, 6300.


 The company's immediate parent is Infront Sports & Media UK Limited, incorporated in United Kingdom.
 

14 Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 23 July 2025 was Matthew Fox F.C.C.A, who signed for and on behalf of Smailes Goldie.

.........................................