REGISTERED NUMBER: 03531967 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FIRST SPORTS INTERNATIONAL LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Seán Patrick Lucas

REGISTERED OFFICE:

Rourke House

Watermans Business Park

The Causeway

Staines-Upon-Thames

TW18 3BA

REGISTERED NUMBER:

03531967 (England and Wales)

SENIOR STATUTORY AUDITOR:

Bharat Vanza BSc (Hons) FCA FCCA

AUDITORS:

STGCA LLP t/a Sterling

Chartered Accountants

& Statutory Auditors

505 Pinner Road

Harrow

Middlesex

HA2 6EH

FIXED ASSETS

Intangible assets

4

505,189

532,443

Property, plant and equipment

5

5,779

4,652

510,968

537,095

CURRENT ASSETS

Debtors

6

79,734

175,428

Cash at bank

498,572

371,598

578,306

547,026

CREDITORS

Amounts falling due within one year

7

1,013,129

858,447

NET CURRENT LIABILITIES

(434,823

)

(311,421

)

TOTAL ASSETS LESS CURRENT LIABILITIES

76,145

225,674

CREDITORS

Amounts falling due after more than one year

8

4,241,710

3,841,456

NET LIABILITIES

(4,165,565

)

(3,615,782

)

CAPITAL AND RESERVES

Called up share capital

9

6

6

Share premium

6,978,214

6,978,214

Other reserves

879,511

879,511

Retained earnings

(12,023,296

)

(11,473,513

)

SHAREHOLDERS' FUNDS

(4,165,565

)

(3,615,782

)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2025 and were signed by:

Mr Seán Patrick Lucas - Director

1.	STATUTORY INFORMATION

First Sports International Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of 5 years.

Tangible fixed assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and Fittings - 20% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Developmen

costs

£

COST

At 1 January 2024

2,201,545

Additions

183,242

At 31 December 2024

2,384,787

AMORTISATION

At 1 January 2024

1,669,102

Amortisation for year

210,496

At 31 December 2024

1,879,598

NET BOOK VALUE

At 31 December 2024

505,189

At 31 December 2023

532,443

Intangible assets additions include development of a gym management system having a useful life of 5 years. Other additions relate to extension of the existing core software for sports by adding more modules to it.

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 January 2024

97,418

Additions

3,470

At 31 December 2024

100,888

DEPRECIATION

At 1 January 2024

92,766

Charge for year

2,343

At 31 December 2024

95,109

NET BOOK VALUE

At 31 December 2024

5,779

At 31 December 2023

4,652

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

36,128

37,394

Accrued income

28,910

113,879

Prepayments

14,696

24,155

79,734

175,428

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

94,386

142,288

VAT

242,901

175,208

Other creditors

271,454

236,902

Deferred income

310,012

289,616

Accrued expenses

94,376

14,433

1,013,129

858,447

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

13,543

24,188

Other loans - 2-5 years

4,228,167

3,817,268

4,241,710

3,841,456

Bank loan is a 2.5% bounce back loan which is repayable in full by 28/05/2026.

Other loan amount is payable to All About Tickets, the parent company and repayable on 31/12/2025.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,149,773

Ordinary

0.000000631

6

6

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

The Report of the Auditors was unqualified.

Bharat Vanza BSc (Hons) FCA FCCA (Senior Statutory Auditor)

for and on behalf of STGCA LLP t/a Sterling

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the Company owes £3,777,735 (2023: £3,308,645) to All About Tickets LLC, the parent company. Included within this amount is a total of £246,010 (2023: £165,807) of interest charged during the year.

12.	ULTIMATE CONTROLLING PARTY

The immediate parent and ultimate controlling party is All About Tickets LLC, a limited liability company incorporated in the United States of America.

13.	GOING CONCERN

Directors have prepared the accounts on going concern basis, notwithstanding net current liabilities of £434,823 and net liabilities of £4,165,565 for the following reasons. All about tickets, LLC, the parent company has already provided long term loan to the Company and has agreed to provide further financial support to it's subsidiary to meet company's obligations. This will help the Company to meet its short term liabilities and continue its business operations for the foreseeable future.

14.	POST BALANCE SHEET EVENTS

Sean Patrick Lucas & Phillip Malan were employed by the Company during the year. Post year end, both have ceased to be the employees of the Company, now providing consultancy services and being remunerated by its Parent Company, All About Tickets LLC.