ACCOUNTS - Final Accounts preparation

Registered number: 13648603

JEM SPORT AND ENTERTAINMENT GROUP LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024


JEM SPORT AND ENTERTAINMENT GROUP LTD REGISTERED NUMBER:13648603

BALANCE SHEET

AS AT 30 SEPTEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	26,610		13,058
Cash at bank and in hand	5	32,161		10,429
		58,771		23,487
Creditors: amounts falling due within one year	6	(103,393)		(142,052)
Net current liabilities			(44,622)		(118,565)
Total assets less current liabilities			(44,622)		(118,565)

Net liabilities			(44,622)		(118,565)

Capital and reserves
Called up share capital	7	95	100
Capital redemption reserve		5	-
Profit and loss account		(44,722)	(118,665)
		(44,622)	(118,565)

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JEM SPORT AND ENTERTAINMENT GROUP LTD REGISTERED NUMBER:13648603

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 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 year 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 profit and loss account 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 by:

C L Balsam

Director

Date: 5 September 2025

The notes on pages 3 to 6 form part of these financial statements.

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JEM SPORT AND ENTERTAINMENT GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.	General information

JEM Sport and Entertainment Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 13648603. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of sports management.

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

2.2

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from sports management activities is recognised when it is probable the company will receive the rights to the consideration due under the contract.
Commission income is recognised when received net of all associated costs.

2.4

Interest income

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

2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

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JEM SPORT AND ENTERTAINMENT GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the year 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The company enteres into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade debtors, trade creditors, other creditors, and loans with related parties.

Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

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JEM SPORT AND ENTERTAINMENT GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	20,315	12,982
Prepayments and accrued income	6,246	-
Deferred taxation	49	76
	26,610	13,058

5.	Cash
		2024	2023
		£	£

	Cash at bank and in hand	32,161	10,429

6.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Trade creditors	-	1,608
Other taxation and social security	7,231	4,846
Other creditors	92,663	133,598
Accruals	3,499	2,000
	103,393	142,052

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

850 (2023 - 85) ordinary A shares of £0.10 each	85	85
100 (2023 - 10) ordinary B shares of £0.10 each	10	10
50(2023 - 5) ordinary C shares of £0.10 each	-	5

	95	100

On 31 May 2024, the company purchased 50 of its own Ordinary C shares for cancellation at an aggregate amount of £5.
The cancellation of 50 Ordinary C shares were transferred to capital redemption at an aggregate value of £5.

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JEM SPORT AND ENTERTAINMENT GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.	Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,426 (2023 - £1,576). Included in other creditors at the year end there is an amount payable of £197 (2023 - £306).

9.	Transactions with directors

As at the year end, the company owed £15,000 (2023 - £25,000) to the directors. The loan is unsecured, interest free and repayable on demand.

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