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Base Sport Holdings Limited
Registered number: 11877569
Directors' report and
unaudited financial statements
For the year ended 30 September 2024
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BASE SPORT HOLDINGS LIMITED
COMPANY INFORMATION
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BASE SPORT HOLDINGS LIMITED
CONTENTS
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Statement of Comprehensive Income
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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BASE SPORT HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their Strategic Report of Base Sport Holdings Limited (the 'Company') for the year ended 30 September 2024.
The principal activity of the Company is that of an investment holding company. The Company holds a 100% investment in Base Sport Ltd. Base Sport Ltd and its subsidiaries (the Base Sport group), operate a business as agents acting for professional footballers and football clubs.
The Company did not trade during the period.
Principal risks and uncertainties
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From the perspective of the Company, the principal risks and uncertainties are integrated with the principal risks of the Base Sport Ltd group. The review of the business of the Base Sport Ltd group outlines the main factors likely to affect the development, performance and position of the business. A description of this review and principal risks and uncertainties facing the business, can be found in the annual report of Base Sport Ltd, which is available to the public.
Financial key performance indicators
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Given the straightforward nature of the business, the directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business. The KPIs for the Base Sport group can be found in the annual report of Base Sport Ltd.
Directors' statement of compliance with duty to promote the success of the Company
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As directors, we are aware of our duty under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the group's success for the benefit of its shareholders as a whole, and to have regard to the long-term effect of our decisions on the group and its other stakeholders. In seeking to acheive this, we have regard to:
∙the likely consequences of any decisions in the long-term;
∙the interests of the group's employees/ colleagues;
∙the need to build great relationships with suppliers, customers and others;
∙the impact on our operations on the community and the environment; and
∙our desire to maintain a reputation for the highest standards in the way we conduct our business.
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BASE SPORT HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors do not anticipate any significant developments for the Company during the coming year. The Company is expected to continue as a holding company for the foreseeable future.
This report was approved by the board and signed on its behalf by:
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BASE SPORT HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their report and the unaudited financial statements of Base Sport Holdings Limited (the 'Company') for the year ended 30 September 2024.
The principal activity of the Company continued to be that of a holding company. The Company's principal subsidiary undertakings are shown in note 5 within the financial statements.
The profit for the year, after taxation, amounted to £nil (2023: £nil).
The directors do not recommend the payment of a dividend for the year (2023: £nil).
The directors who served during the year and to the date of this report were:
Directors' responsibilities statement
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The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with 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'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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BASE SPORT HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Company operates as the holding company of Base Sport Ltd and its subsidiaries. The Company does not trade, nor does it intend to trade in the future, and does not hold any liabilities other than amounts owed to group undertakings.
Reliance has been placed upon the work carried out by Base Sport Ltd, which concluded there is no material doubt over its own ability to continue as a going concern.
Thus the directors continue to adopt going concern basis of accounting in preparing the financial statements.
Economic impact of global events
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UK businesses are facing many uncertainties and challenges caused by political, economic, social, technological, legal and environmental factors. These uncertainties have contributed to an environment where there exists a range of issues and risks, including inflation, rising interest rates, labour shortages, disrupted supply chains and new ways of working.
The directors have carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and concluded that the greatest impact on the business is expected to be from the economic ripple effect on the global economy. The directors have taken account of these potential impacts in their going concern assessment.
The Company continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business.
Qualifying third party indemnity provisions
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The directors benefit from a qualifying third party indemnity provision in the form permitted by the Section 234 of the Companies Act 2006 in respect of certain third party actions against directors. No claim or notice of claim in respect of these indemnities has been received in the year. The qualifying indemnity provision was in force throughout the financial year and up to the date of approval of the Directors' Report.
Greenhouse gas emissions, energy consumption and energy efficiency action
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The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
The group reporting on Greenhouse gas emissions, energy consumption and energy efficiency action is included in the consolidated group financial statements of CAA Sports UK Limited, of which this Company is a member during the year. Full disclosure can be found in the CAA Sports UK Limited financial statements for the year ended 30 September 2024.
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BASE SPORT HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Matters covered in the Strategic Report
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As permitted by Paragraph 1A of Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 certain matters which are required to be disclosed in the Directors’ Report have been omitted as they are included in the Strategic Report on page 1. These matters relate to business review, future developments and principal risks and uncertainties.
Post balance sheet events
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In April 2025, the directors approved a dividend of £19,375,020 in respect of periods from 1 July 2019 to 30 September 2023.
This report was approved by the board and signed on its behalf by:
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BASE SPORT HOLDINGS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFBASE SPORT HOLDINGS LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024
In accordance with our engagement letter dated 6 May 2025 and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the Company for the year ended 30 September 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance/.
Respective responsibilities of directors and accountants
You have acknowledged on the balance sheet for the year ended 30 September 2024 your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit or loss. You consider that the Company is exempt from the statutory requirement for an audit for the year.
This report is made solely to the Board of Directors of Base Sport Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 6 May 2025. Our work has been undertaken solely to prepare for your approval the financial statements of the Company and state those matters that we have agreed to state to the Board of Directors, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept nor assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
We have not been instructed to carry out an audit or review of the financial statements of Base Sport Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Forvis Mazars LLP
Chartered Accountants
2nd Floor
6 Sutton Plaza
Sutton Court Road
Sutton
Surrey
SM1 4FS
30 September 2025
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BASE SPORT HOLDINGS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Company has not traded during the year or the preceding financial year. During these periods, the Company received no income and incurred no expenditure and therefore made neither profit or loss.
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BASE SPORT HOLDINGS LIMITED
REGISTERED NUMBER: 11877569
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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For the year ended 30 September 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
The 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 were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 10 to 17 form part of these financial statements.
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BASE SPORT HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Total comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 10 to 17 form part of these financial statements.
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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Base Sport Holdings Limited is a private company limited by shares and is incorporated and registered in England and Wales. The Company's registered number is 11877569. The address of its registered office is 12 Hammersmith Grove, London, England, W6 7AP.
The principal activity of the Company continued to be that of a holding company.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Company operates and is rounded to the nearest pound.
The following principal accounting policies have been applied:
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of CAA Sports UK Limited, the immediate parent company as at 30 September 2024 and these financial statements may be obtained from Companies House.
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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 any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
The Company operates as the holding company of Base Sport Ltd and its subsidiaries. The Company does not trade, nor does it intend to trade in the future, and does not hold any liabilities other than amounts owed to group undertakings.
Reliance has been placed upon the work carried out by Base Sport Ltd, which concluded there is no material doubt over its own ability to continue as a going concern.
Thus the directors continue to adopt going concern basis of accounting in preparing the financial statements.
Investments in subsidiaries are measured at cost less accumulated impairment.
At each Statement of Financial Position investments are assessed to determine whether there is an indication that the investment may be impaired. If there is such an indication the recoverable amount
of the asset is compared to the carrying amount of the asset.
The recoverable amount of the asset is the higher of the fair value less costs to sell and the asset's value in use. Value in use is defined as the present value of the future cash flows before interest and tax obtainable as a result of the asset's continued use. These cash flows are discounted using a pretax discount rate that represents the current market risk-free rate and the risks inherent in the asset.
If the recoverable amount of the asset is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the Statement of Comprehensive Income.
If an impairment loss is subsequently reversed, the carrying amount of the investment is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised in prior periods.
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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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.
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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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Financial instruments (continued)
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Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Judgements in applying accounting policies and key sources of estimation uncertainty
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In applying the Company’s accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
3.1 Critical judgements in applying the Company’s accounting policies
The critical judgements that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the statutory financial
statements are discussed below.
(i) Assessing indicators of impairment
In assessing whether there have been any indicators of impaired assets, the directors have considered
both external and internal sources of information such as market conditions, counterparty credit ratings
and experience of recoverability. There have been no indicators of impairments identified during the
current financial year.
3.2 Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
(i) Investments
The directors consider that the judgement of whether or not to impair the Company’s investments is critical. This judgement depends on the key estimate of their value. Please see note 2.5 for more detail regarding how this judgement and estimate is made. The carrying amount at 31 December 2024 was £25,183,365 (2023: £25,183,365).
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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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The Company had no employees in the current or prior period. The directors were remunerated by another group undertaking in the period and, in their opinion, it is not practicable to apportion their remuneration between qualifying services to the Company and services provided to the rest of the group.
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Investments in subsidiary companies
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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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The following were subsidiary undertakings of the Company:
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12 Hammersmith Grove, London, W6 7AP
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12 Hammersmith Grove, London, W6 7AP
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Agents for professional footballers
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Base Soccer Agency Limited *
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12 Hammersmith Grove, London, W6 7AP
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Base Soccer East Europe Limited *
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12 Hammersmith Grove, London, W6 7AP
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Agents for professional footballers
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Base Soccer Italy Limited *
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12 Hammersmith Grove, London, W6 7AP
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Agents for professional footballers
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Base Soccer Europe Limited *
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12 Hammersmith Grove, London, W6 7AP
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Agents for professional footballers
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Base Soccer Management SA *
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Switzerland, Address: Viale Stefano Franscini 15, 6900 Lugano, Switzerland
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Agents for professional footballers
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Time Management Global Limited *
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12 Hammersmith Grove, London, W6 7AP
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Spain, Address: Plaza de la Lealtad, no3, 5a planta, 28014 Madrid, Spain
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Agents for professional footballers
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Uruguay, Address: Av. Roosevelt Corner, Litman Building Stradvarius, Office 1605, Punta del Este, Maldonado, Uruguay
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Agents for professional footballers
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Italy, Address: Via Napo Torriani 19/C, Como 22100, Italy
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Agents for professional footballers
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* These subsidiaries are indirectly held via Base Sport Ltd.
** This subsidiary is indirectly held via CAA Base Limited which is held indirectly via Base Sport Ltd.
*** This subsidiary is indirectly held via Base Soccor Italy Limited which is held indirectly via Base Sport Ltd.
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BASE SPORT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
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Allotted, called up and fully paid
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250,000,000 (2023: 250,000,000) Ordinary shares of 7.97p each
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The Company has one class of ordinary shares; each share has attached to it full voting, dividend and capital distribution rights.
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Related party transactions
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The Company has taken advantage of the exemption available in FRS 102 Section 33 'Related party disclosures' not to disclose transactions entered into between two or more members of a group where a subsidiary which is a party to the transaction is wholly owned by such a member.
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Post balance sheet events
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In April 2025, the directors approved a dividend of £19,375,020 in respect of periods from 1 July 2019 to 30 September 2023.
The immediate parent undertaking is CAA Sports UK Limited, a company incorporated and registered in England and Wales.
CAA Sports UK Limited is the smallest group into which the Company's financial statements are consolidated. Copies of these financial statements may be obtained from Companies House.
CAA Holdings, LLC, a company incorporated and registered in the United States of America, is the largest group into which the Company's financial statements are consolidated. These financial statements are not publically available.
The ultimate parent undertaking of the Company is Kerstars Inc, a company incorporated and registered in the United States of America, whose registered office is 1029 Orange Street, Wilmington, New Castle, DE 19801, United States of America.
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