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COMPANY REGISTRATION NUMBER: 10673757
Sporting Capital Limited
Filleted Financial Statements
31 December 2024
Sporting Capital Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
802,661
1,447,272
Current assets
Debtors
5
228
–
Cash at bank and in hand
206,478
47,965
---------
--------
206,706
47,965
Creditors: amounts falling due within one year
6
99,851
121,350
---------
---------
Net current assets/(liabilities)
106,855
( 73,385)
---------
------------
Total assets less current liabilities
909,516
1,373,887
Creditors: amounts falling due after more than one year
7
873,380
1,381,406
---------
------------
Net assets/(liabilities)
36,136
( 7,519)
---------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
36,135
( 7,520)
--------
-------
Shareholders funds/(deficit)
36,136
( 7,519)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:
Mr R. Speak
Director
Company registration number: 10673757
Sporting Capital Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is W106 Vox Studios, 1-45 Durham Street, London, SE11 5JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
Revenue recognition
Revenue from arrangement fees and from The National Lottery Community Fund to cover operational costs are recognised in line with the underlying agreements in place and are therefore recognised when they are receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Investments
Other loans
£
Cost
At 1 January 2024
1,586,872
Disposals
( 623,212)
------------
At 31 December 2024
963,660
------------
Impairment
At 1 January 2024
139,600
Impairment losses
21,399
------------
At 31 December 2024
160,999
------------
Carrying amount
At 31 December 2024
802,661
------------
At 31 December 2023
1,447,272
------------
5. Debtors
2024
2023
£
£
Other debtors
228
–
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
49,304
49,817
Corporation tax
13,188
–
Other creditors
37,359
71,533
--------
---------
99,851
121,350
--------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
873,380
1,381,406
---------
------------
Included within Other Creditors are repayable grants of £862,337 (2023 - £883,736). The grants are Restricted Funds received from The National Lottery Community Fund for The Growth Fund scheme. The Growth Fund is a £50m partnership which uses a combination of grant funding, made possible thanks to National Lottery players, and loan finance from Big Society Capital and other co-investors, to address specific gaps in the social investment market. The programme is delivered by Access through a range of social investors. Funds from The National Lottery Community Fund, under the Growth Fund programme have been treated as restricted funds, in these accounts.
8. Summary audit opinion
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 auditors report was unqualified.
The senior statutory auditor was Nicolas Michael FCA .
The auditor was Charlton Baker (Bristol) Limited .
The audit report was dated 03/09/2025 .
9. Related party transactions
During the year the company paid management charges for operating costs to its parent company, Sporting Assets Ltd, in the amount of £36,176 (2023: £52,132). Mr R Speak is a director both of this company and its parent.
10. Controlling party
The immediate parent company of Sporting Capital Limited is Sporting Assets Ltd. The parent company's registered office is W106 Vox Studios, 1-45 Durham Street, London, SE11 5JH