Company Registration No. 09928450 (England and Wales)
PM Sports Management Ltd
Annual report and financial statements
for the year ended 31 December 2024
PM Sports Management Ltd
Company information
Director
Paul Martin
Company number
09928450
Registered office
Abraxus House
17a Princes Road
Richmond
TW10 6DQ
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
PM Sports Management Ltd
Contents
Page
Strategic report
1 - 2
Director's report
3 - 4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Statement of financial position
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 24
PM Sports Management Ltd
Strategic report
For the year ended 31 December 2024
1

The director presents the strategic report for the year ended 31 December 2024.

Review of the business

PM Sports Management Limited operates predominantly in Athlete Representation within the football industry. Main business timeframes throughout the year in question were the Winter (January 2024) and Summer (June – August 2024) Transfer Windows.

2024 was an extremely successful year for the company; financial growth, expanding client base and an increase in the number of employees and consultants. Turnover has increased significantly in 2024 to £14,999,800 (2023: £11,920,445).

Principal risks and uncertainties

Football agent regulation changes

There has been a recent case in an attempt to amend FIFA Football Agent regulations and implement a cap on Agents’ earnings.

Club Ownership

Vast majority of clubs (particularly in the Premier League) are owned by overseas entities. Potential risk of external factors (e.g. Chelsea FC and Russian ownership) which has led to change in ownership and structure of how clubs now operate.

Force Majeure

COVID-19 pandemic and the suspension of fixtures and fan attendance; industries (not just football) are now implementing certain contractual clauses to protect themselves from such events occurring again in the future.

Player performance/ maintaining client base

The success of the business inevitably lies in the quality and performances of our clients; there is an ongoing need for the players to perform at a high level, which will in turn lead to further interest from top clubs, hence better position to negotiate higher contract – resulting in a higher commission amount for the Agents.

Staff/ consultant retention

If staff / consultants get head-hunted by a competitor.

Development and performance

Company position

1. Strong internal infrastructure within the company as a whole; stable staff base.

2. Contracted revenue secured for future years.

3. A number of clients entering prime of their career.

4. Loyal clients, resulting in high retention rates.

Trends and factors

1. Continuing trend of rising transfer fees and player salaries globally.

2. Vast TV revenue generation across the Premier League.

3. Sponsorship / boot deal opportunities for clients.

4. Major global tournaments (e.g. Champions League/ World Cup/ Euros) in which we have clients competing at the highest level.

PM Sports Management Ltd
Strategic report (continued)
For the year ended 31 December 2024
2
Other information and explanations

Growth

1. Continue to grow the business and expand further in the domestic and international markets.

2. Looking at further opportunities in Europe / UAE / MLS.

Client base

1. Retain top clients.

2. Recruit elite-level youth players and maintain the working relationship throughout the course of their respective careers.

Revenue

1. Look to build financial growth year-on-year.

On behalf of the board

Paul Martin
Director
3 October 2025
PM Sports Management Ltd
Director's report
For the year ended 31 December 2024
3

The director presents his annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company is that of a sports management company.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £1,342,000. The director does not recommend payment of a further dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Paul Martin
Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the director must not approve the financial statements unless he is 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 director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 enable them to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

PM Sports Management Ltd
Director's report (continued)
For the year ended 31 December 2024
4
On behalf of the board
Paul Martin
Director
3 October 2025
PM Sports Management Ltd
Independent auditor's report
To the members of PM Sports Management Ltd
5
Opinion

We have audited the financial statements of PM Sports Management Ltd (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

PM Sports Management Ltd
Independent auditor's report
To the members of PM Sports Management Ltd (continued)
6

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the director's r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

PM Sports Management Ltd
Independent auditor's report
To the members of PM Sports Management Ltd (continued)
7

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company’s financial statements to material misstatement and how fraud might occur, including through discussions with the director, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with director and by updating our understanding of the sector in which the company operates.

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation.

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

This is the first year the company is subject to a statutory audit. No reliance is taken on the prior period unaudited financial statements. The opening balances have been scrutinised to ensure no material misstatement is identified which may impact the audited financial statements.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

PM Sports Management Ltd
Independent auditor's report
To the members of PM Sports Management Ltd (continued)
8
David Sedgwick
Senior Statutory Auditor
For and on behalf of Saffery LLP
3 October 2025
Statutory Auditors
71 Queen Victoria Street
London
EC4V 4BE
PM Sports Management Ltd
Statement of comprehensive income
For the year ended 31 December 2024
9
Year
Year
ended
ended
31 December
31 December
2024
2023
as restated
£
£
Turnover
2
14,999,800
11,920,445
Cost of sales
(1,471,666)
(1,175,718)
Gross profit
13,528,134
10,744,727
Administrative expenses
(5,783,422)
(4,836,501)
Operating profit
3
7,744,712
5,908,226
Interest receivable and similar income
6
392,090
242,779
Interest payable and similar expenses
7
(1,686)
906
Profit before taxation
8,135,116
6,151,911
Tax on profit
8
(2,095,730)
(1,473,488)
Profit for the financial year
6,039,386
4,678,423

The income statement has been prepared on the basis that all operations are continuing operations.

PM Sports Management Ltd
Statement of financial position
As at 31 December 2024
10
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
10
479
527,189
Investments
11
524,731
-
0
525,210
527,189
Current assets
Debtors
12
15,992,245
31,515,169
Investments
13
-
0
6,665,325
Cash at bank and in hand
29,340,956
1,194,284
45,333,201
39,374,778
Creditors: amounts falling due within one year
14
(7,675,517)
(6,416,459)
Net current assets
37,657,684
32,958,319
Net assets
38,182,894
33,485,508
Capital and reserves
Called up share capital
17
1
1
Profit and loss reserves
38,182,893
33,485,507
Total equity
38,182,894
33,485,508
The financial statements were approved and signed by the director and authorised for issue on 3 October 2025.
Paul Martin
Director
Company Registration No. 09928450
PM Sports Management Ltd
Statement of changes in equity
For the year ended 31 December 2024
11
Share capital
Profit and loss reserves
Total
Notes
£
£
£
As restated for the period ended 31 December 2023:
Balance at 1 January 2023
1
29,440,385
29,440,386
Prior period adjustment
-
(168,301)
(168,301)
As restated
1
29,272,084
29,272,085
Period ended 31 December 2023:
Profit and total comprehensive income
-
4,678,423
4,678,423
Dividends
9
-
(465,000)
(465,000)
Balance at 31 December 2023
1
33,485,507
33,485,508
Period ended 31 December 2024:
Profit and total comprehensive income
-
6,039,386
6,039,386
Dividends
9
-
(1,342,000)
(1,342,000)
Balance at 31 December 2024
1
38,182,893
38,182,894
PM Sports Management Ltd
Statement of cash flows
For the year ended 31 December 2024
12
2024
2023
as restated
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
21
11,025,516
6,160,606
Interest paid
(1,686)
906
Income taxes paid
(3,931,293)
(1,476,417)
Net cash inflow from operating activities
7,092,537
4,685,095
Investing activities
Purchase of tangible fixed assets
-
0
(54)
Proceeds from disposal of tangible fixed assets
524,731
-
0
Proceeds from disposal of investments
6,140,594
(6,665,325)
Repayment of loans
15,338,720
(4,299,335)
Interest received
392,090
242,779
Net cash generated from/(used in) investing activities
22,396,135
(10,721,935)
Financing activities
Dividends paid
(1,342,000)
(465,000)
Net cash used in financing activities
(1,342,000)
(465,000)
Net increase/(decrease) in cash and cash equivalents
28,146,672
(6,501,840)
Cash and cash equivalents at beginning of year
1,194,284
7,696,124
Cash and cash equivalents at end of year
29,340,956
1,194,284
PM Sports Management Ltd
Notes to the financial statements
For the year ended 31 December 2024
13
1
Accounting policies
Company information

PM Sports Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Abraxus House, 17a Princes Road, Richmond, TW10 6DQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixture, fittings & equipment
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
14

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
15
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
16
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Provision of services
14,999,800
11,920,445
2024
2023
£
£
Turnover analysed by geographical market
UK
14,999,800
11,920,445
2024
2023
£
£
Other revenue
Interest income
392,090
242,779
PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
17
3
Operating profit
2024
2023
Operating profit for the period is stated after charging:
£
£
Exchange losses
82,653
40,707
Fees payable to the company's auditor for the audit of the company's financial statements
16,500
-
0
Depreciation of owned tangible fixed assets
1,979
-
Operating lease charges
51,677
57,215
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Employees
7
7

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
430,099
402,479
Social security costs
81,097
90,691
Pension costs
9,707
5,770
520,903
498,940
5
Director's remuneration
2024
2023
£
£
Remuneration for qualifying services
43,000
43,000
Company pension contributions to defined contribution schemes
1,971
2,150
44,971
45,150
PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
18
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
208,710
61,086
Other interest income
183,380
181,693
Total income
392,090
242,779
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
208,710
61,086
7
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
1,686
(906)
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
2,097,795
1,502,532
Adjustments in respect of prior periods
-
0
(29,044)
Total current tax
2,097,795
1,473,488
Deferred tax
Origination and reversal of timing differences
(2,065)
-
0
Total tax charge
2,095,730
1,473,488
PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
8
Taxation (continued)
19

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
8,135,116
6,151,911
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
2,033,779
1,446,929
Tax effect of expenses that are not deductible in determining taxable profit
62,988
54,138
Adjustments in respect of prior years
-
0
(29,044)
Adjustments in respect of financial assets
-
0
33
Deferred tax adjustments in respect of prior years
(1,037)
1,432
Taxation charge for the period
2,095,730
1,473,488
9
Dividends
2024
2023
£
£
Final paid
1,342,000
465,000
10
Tangible fixed assets
Fixture, fittings & equipment
Motor vehicles
Total
£
£
£
Cost or valuation
At 1 January 2024
551,345
40,387
591,732
Transfers
(524,731)
-
0
(524,731)
At 31 December 2024
26,614
40,387
67,001
Depreciation and impairment
At 1 January 2024
24,156
40,387
64,543
Depreciation charged in the year
1,979
-
0
1,979
At 31 December 2024
26,135
40,387
66,522
Carrying amount
At 31 December 2024
479
-
0
479
At 31 December 2023
527,189
-
0
527,189
PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
20
11
Fixed asset investments
2024
2023
£
£
Unlisted investments
524,731
-
0
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2024
-
Transfers
524,731
At 31 December 2024
524,731
Carrying amount
At 31 December 2024
524,731
At 31 December 2023
-
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
201,657
589,781
Other debtors
14,480,316
30,653,784
Prepayments and accrued income
1,308,207
271,604
15,990,180
31,515,169
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 15)
2,065
-
0
Total debtors
15,992,245
31,515,169
13
Current asset investments
2024
2023
£
£
Unlisted investments
-
0
6,665,325
PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
21
14
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,542,572
1,624,682
Corporation tax
472,795
2,306,293
Other taxation and social security
416,426
942,005
Other creditors
3,208,510
997,176
Accruals and deferred income
35,214
546,303
7,675,517
6,416,459
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Accelerated capital allowances
2,065
-
2024
Movements in the year:
£
Liability at 1 January 2024
-
Credit to profit or loss
(2,065)
Asset at 31 December 2024
(2,065)

The deferred tax asset set out above is expected to reverse within [12 months] and relates to the utilisation of tax losses against future expected profits of the same period.

16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
9,707
5,770

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
22
17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A,B & C Ordinary shares of 0.1p each
1,000
1,000
1
1

The Company has 608 £0.001 A Ordinary shares (Paul Joseph Martin), 240 £0.001 B Ordinary shares (WMG Management Europe Limited) and 152 £0.001 C Ordinary Shares (WMG Management Europe Limited) in issue.

The share classes rank pari passu in respect of voting and capital rights.

The C shares are entitled to a cumulative preferential dividend of 20% of the operating cashflow of the company.

18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
48,526
48,526
Between two and five years
76,945
125,471
125,471
173,997
19
Related party transactions

During the year the company was advanced £1,299,645 from PM European Sports, a company related by virtue of a common director and shareholder and made repayments of £301,000. At 31 December 2024, the company owed PM European Sports Management Limited, £1,976,127 (2023: £977,480). The loan is interest free and has no set date of repayment.

During the year the company advanced £587,337 to PM Investment Holding Limited, a company related by virtue of a common director and shareholder. At 31 December 2024, PM Investment Holdings Limited owed the company £1,094,471 (2023: £507,134). Interest on the loan is charged at 2% per annum, the loan is repayable on demand.

At 31 December 2024, PM Property Management Limited, a company related by virtue of a common director and shareholder, owed the company £262,848 (2023: £257,694). Interest on the loan is charged at 2% per annum, the loan is repayable on demand.

At 31 December 2024, Parkways Properties LLC, a company related by virtue of common director, owed the company £3,598,807 (202 3: £3,533,321). Interest on the loan is charged at 2% per annum, the loan is repayable on demand.

At 31 December 2024, Tullmore Limited, a company related by virtue of common director, owed the company £5,815,923 (2023: £5,715,082). Interest on the loan is charged at 2% per annum, the loan is repayable on demand.

PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
23
20
Directors' transactions

Advances o r credits have been granted by the company to its director as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director's loan account
-
15,381,732
3,413,618
(20,000,642)
(1,205,292)
15,381,732
3,413,618
(20,000,642)
(1,205,292)
21
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
6,039,386
4,678,423
Adjustments for:
Taxation charged
2,095,730
1,473,488
Finance costs
1,686
(906)
Investment income
(392,090)
(242,779)
Depreciation and impairment of tangible fixed assets
1,979
-
0
Movements in working capital:
Decrease/(increase) in debtors
186,269
(1,116,498)
Increase in creditors
3,092,556
1,368,878
Cash generated from operations
11,025,516
6,160,606
22
Analysis of changes in net funds
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
1,194,284
28,146,672
29,340,956
PM Sports Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
24
23
Prior period adjustment
Reconciliation of changes in equity
1 January
31 December
2023
2023
£
£
Adjustments to prior year
Corporation tax liability
(168,301)
(168,301)
Equity as previously reported
29,440,386
33,653,809
Equity as adjusted
29,272,085
33,485,508
Analysis of the effect upon equity
Profit and loss reserves
(168,301)
(168,301)
Notes to reconciliation

An adjustment has been made in relation to prior periods to correct the corporation tax liability recorded in the accounts relating to historic differences in 2022 and earlier. This has affected the brought forward retained earnings at 1 January 2023.

There is no P&L impact of this adjustment in either 2023 or 2024.

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