Squash Media & Marketing Limited

	Page
Accountant's Report	1
Statement of Financial Position	2—3
Notes to the Financial Statements	4—6

We have reviewed the financial statements of Squash Media & Marketing Limited for the year ended 31 December 2024, which comprise the Income Statement, Balance Sheet and the related notes 1 to 11. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Report set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to 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;

- in accordance with United Kingdom Generally Accepted Accounting Practice; and

- in accordance with the requirements of the Companies Act 2006.

Syers McGill

Chartered Accountants

9 Kerry Street

Horsforth

Leeds

LS18 4AW

David Syers

25/09/2025

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Squash Media & Marketing Limited

Statement of Financial Position

As At 31 December 2024

Statement of Financial Position

Registered number: 13064859

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		197,133		142,690
Tangible Assets	5		562,218		510,324
Investments	6		928,489		928,446

			1,687,840		1,581,460
CURRENT ASSETS
Debtors	7	1,358,803		456,378
Cash at bank and in hand		3,485,355		1,565,518

		4,844,158		2,021,896
Creditors: Amounts Falling Due Within One Year	8	(1,685,148 )		(294,993 )

NET CURRENT ASSETS (LIABILITIES)			3,159,010		1,726,903

TOTAL ASSETS LESS CURRENT LIABILITIES			4,846,850		3,308,363

NET ASSETS			4,846,850		3,308,363

CAPITAL AND RESERVES
Called up share capital	9		15,038		12,782
Share premium account			11,735,062		6,737,318
Income Statement			(6,903,250 )		(3,441,737 )

SHAREHOLDERS' FUNDS			4,846,850		3,308,363

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Squash Media & Marketing Limited

Statement of Financial Position (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Ziad Al Turki

Director

25/09/2025

The notes on pages 4 to 6 form part of these financial statements.

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Squash Media & Marketing Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Squash Media & Marketing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13064859 . The registered office is Top Floor West, 46 The Calls, Leeds, LS2 7EY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets represent website development expenditure which is capitalised as it will generate income for the business in future periods.

The capitalised expenditure is amortised to Income Statement over its estimated economic life of four years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% on a reducing balance basis

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating loss.

2.6. Taxation

Income tax expense represents tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

2.7. Investments in associates

Investments in associates are stated at fair value through profit and loss in the financial statements of the company.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 35 (2023: 30)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	192,884
Additions	139,710

As at 31 December 2024	332,594

...CONTINUED

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Squash Media & Marketing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Amortisation
As at 1 January 2024	50,194
Provided during the period	85,267

As at 31 December 2024	135,461

Net Book Value
As at 31 December 2024	197,133

As at 1 January 2024	142,690

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2024	711,460
Additions	192,448

As at 31 December 2024	903,908

Depreciation
As at 1 January 2024	201,136
Provided during the period	140,554

As at 31 December 2024	341,690

Net Book Value
As at 31 December 2024	562,218

As at 1 January 2024	510,324

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2024	928,446
Additions	43

As at 31 December 2024	928,489

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	928,489

As at 1 January 2024	928,446

The net book value of unlisted investments as at 31 December 2024 of £838,446 comprises the cost of investments of

£398,339 plus the revaluation to market value of £530,150 in 2022.

In line with the company’s accounting policies on unlisted investments, qualifying investments are recognised at fair value through profit and loss based on comparative investment valuations. The directors believe that the value in the accounts accurately reflects the fair value at 31 December 2024.

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Squash Media & Marketing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,213,204	359,268
Prepayments and accrued income	145,599	97,110

	1,358,803	456,378

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	213,929	164,602
Other taxes and social security	11,320	10,829
Accruals and deferred income	130,509	59,665
Amounts owed to group undertakings	1,329,390	59,897

	1,685,148	294,993

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	15,038	12,782

During 2023: (i) 150,376 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £33.24 per share as consideration for a cash investment on 18th May 2023, and (ii) 75,188 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £11.63 per share as consideration for a cash investment on 18th December 2023.

During the current year, Squash SM&E Holdings LLC invested a futher £5 million in Squash Media & Marketing Limited in return for an additional 12.5% shareholding in the company. 225,564 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £22.16 per share as consideration for a cash investment on 2nd January 2024.

10. Related Party Transactions

The company is a subsidiary of the Professional Squash Association, a private company limited by guarantee, incorporated in England & Wales, registered number 02748136. The registered office is Top Floor West, 46 The Calls, Leeds, LS2 7EY.

At the year end, the company owed the Professional Squash Association £1,329,390 (2023: 59,897) and was subject to net recharges of £1,256,708 from the Professional Squash Association during the year (2023: 1,175,388).

The Professional Squash Association is related to Squash Media & Marketing Limited by virtue of its control.

11. Audit Information

The auditor's report on the accounts of Squash Media & Marketing Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Statutory Auditor.

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