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Company Registration Number 04235291
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SUPPORT IN SPORT GROUP LIMITED
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SUPPORT IN SPORT GROUP LIMITED
REGISTERED NUMBER: 04235291
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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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 statement of comprehensive income 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:
Page 1
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SUPPORT IN SPORT GROUP LIMITED
REGISTERED NUMBER: 04235291
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The notes on pages 3 to 9 form part of these financial statements.
Page 2
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SUPPORT IN SPORT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The principal activity Support In Sport Group Limited is the provision of management services to the Group.
Support In Sport Group Limited is a company limited by shares incorporated in England. Its registered office is Tavistock Works, Glasson Industrial Estate, Maryport, Cumbria, CA15 8NT.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.
At the balance sheet date, the company has net current assets of £11,206,764 (2023 - £11,160,129) and net assets of £12,730,128 (2023 - £12,640,910) following a profit before tax in the period of £139,701 (2023 - Loss before tax £2,649). The company has no borrowings to date and has a closing cash position of £284,016 (2023 - £254,538).
The company also has the backing of the wider group, should it need any support to pay liabilities as they fall due. The directors produce detailed cashflow forecasts, and believe that the company will continue to trade as a going concern for at least 12 months from the date of signature.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Page 3
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SUPPORT IN SPORT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The group continues to develop the quality of its artificial grass. Expenditure incurred on its development is written off to the income statement.
Investment property is carried at fair value; the decision to revalue is determined by the directors annually and any valuation is carried out by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The directors enagage with an expert and have professional valuations done over the property on a 3 year cycle. Changes in fair value are recognised in the Statement of Comprehensive Income. Where the directors cannot reasonably determine this value, they use an independent and qualified valuer to undertake a third party valuation.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 4
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SUPPORT IN SPORT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Interest income is recognised in profit or loss using the effective interest method.
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
Page 5
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SUPPORT IN SPORT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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Page 6
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SUPPORT IN SPORT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investments in subsidiary companies
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The following were subsidiary undertakings of the company:
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Support in Sport (UK) Limited
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Tavistock Works, Glasson Industrial Estate, Maryport, Cumbrian, CA15 8NT
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Support in Sport (Manufacturing) Co Limited
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Tavistock Works, Glasson Industrial Estate, Maryport, Cumbrian, CA15 8NT
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The investment property was purchased in 2022. The directors have reviewed the fair value of the property at the balance sheet and believe the cost value to remain appropriate.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Page 7
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SUPPORT IN SPORT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Page 8
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SUPPORT IN SPORT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Related party transactions
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At the balance sheet date, the following balances were owed to the company by / (to) other group companies:
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Support In Sport International Limited
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Support In Sport (UK) Limited
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Support In Sport Manufacturing (Company) Limited
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Support In Sport Group (Irl) Limited
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During the year, total management charges of £927,388 (2023 - £266,738) were received from group undertakings for management services provided during the year.
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Support in Sport Group (IRL) Ltd is the parent undertaking of the largest group which consolidates the financial information of the company. Copies of the Group's financial statements may be obtained from Companies Registration Office, Parnell House, 14 Parnell Square, Dublin 1.
Support in Sport Group (IRL) Ltd is owned by Vinceraven Unlimited Company this is owned and under the control of George Mullan.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 30 September 2025 by Lauren Graham (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.
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