REGISTERED NUMBER: 08839228 (England and Wales)

McCourt Sports Limited

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J J Ingram

F H McCourt

D S Patel

SECRETARY:

Elemental Company Secretary Limited

REGISTERED OFFICE:

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

08839228 (England and Wales)

SENIOR STATUTORY AUDITOR:

Antony Sassen FCA

INDEPENDENT AUDITORS:

S&W Audit

Northern Assurance Buildings

Albert Square

9/21 Princess Street

Manchester

M2 4DN

CURRENT ASSETS

Cash at bank

16,858

15,114

CREDITORS

Amounts falling due within one year

5

48,923

12,133

NET CURRENT (LIABILITIES)/ASSETS

(32,065

)

2,981

TOTAL ASSETS LESS CURRENT LIABILITIES

(32,065

)

2,981

CREDITORS

Amounts falling due after more than one year

6

-

17,386

NET LIABILITIES

(32,065

)

(14,405

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(32,066

)

(14,406

)

SHAREHOLDERS' FUNDS

(32,065

)

(14,405

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

D S Patel - Director

1.	STATUTORY INFORMATION

McCourt Sports Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page. The company's principal place of business is 10 Hudson Yards, 501 W 30th Street, 40th Floor, New York, NY, 10001, USA.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Going concern basis of accounting

The financial statements have been prepared under the historical cost convention.

The company's business activities are set out in the Directors' Report. The company is dependent, in the absence of other funding, on the continued financial support of its immediate parent company, Global Champion Holdings LLC. This company has confirmed its commitment to provide the necessary support.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the parent company was not to provide further support.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and amounts owed by and to group undertakings.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised at cost using the effective interest method. Debt instruments are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid of received. However if the arrangements of a short-term instrument constitute a financing transaction, like 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 case of an out-right short term loan not at market rate, the financial asset of liability is measured initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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 the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

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

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business. Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

2,700

7,033

Amounts owed to group undertakings

41,123

-

Other creditors

5,100

5,100

48,923

12,133

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

-

17,386

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Antony Sassen FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 section 33.1A Related Party Disclosures from disclosing transactions with other group entities.

9.	ULTIMATE CONTROLLING PARTY

The immediate controlling party of McCourt Sports Limited by virtue of its shareholding is:

Global Champions Holdings LLC

c/o McCourt Global

10 Hudson Yards

501 W 30th Street

40th Floor

New York

NY 10001

United States of America

Incorporated in the United States of America

The ultimate parent company is:

Global Champions Holdings Member Inc

c/o McCourt Global

10 Hudson Yards

501 W 30th Street

40th Floor

New York

NY 10001

Incorporated in the United States of America

Global Champions Holdings Member Inc. is ultimately controlled by Mr. Frank H. McCourt, Jr.