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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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Sabreleague Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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for |
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Sabreleague Limited |
Sabreleague Limited (Registered number: 02119016) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Sabreleague Limited |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 Technology Park |
Colindeep Lane |
Colindale |
London |
NW9 6BX |
Sabreleague Limited (Registered number: 02119016) |
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Statement of Financial Position |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Sabreleague Limited (Registered number: 02119016) |
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Statement of Financial Position - continued |
31 March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Sabreleague Limited (Registered number: 02119016) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Sabreleague Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Sabreleague Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company has taken the option under |
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration receivable and represents rents receivable, net of |
value added tax. Income is recognised on a straight-line basis over the term of the rental agreement. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Office equipment | - |
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Investments in subsidiaries |
Investment in subsidiary undertakings are recognised at cost less provision for impairment. |
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Investment property |
Investment property is included at fair value. Gains and losses arising from changes in the fair value of |
investment properties are recognised in the income statement in the period in which they arise. Deferred taxation |
is provided on these gains at the rate expected to apply when the property is sold. |
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Financial instruments |
Debtors - Short term debtors are measured at transaction price, less any impairment. |
Creditors - Short term creditors are measured at transaction price. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Sabreleague Limited (Registered number: 02119016) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Office |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Sabreleague Limited (Registered number: 02119016) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Amounts owed by related companies | 738,238 | 792,823 |
Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors | ( |
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Amounts owed to group undertakings |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Amounts owed to related companies | 3,557,178 | 3,498,383 |
Directors' current accounts | - | 2,139 |
Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Amount due to related company | 1,500,000 | 1,500,000 |
Sabreleague Limited (Registered number: 02119016) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2016 |
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Fair value reserve | 342,851 |
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At 31 March 2017 |
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Retained earnings includes all current and prior period retained profits and loss, all of which, are distributable |
reserves. |
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Amounts totalling £29,596,965 (2016 - £29,254,114) included within the fair value reserve are not distributable. |
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11. | RELATED PARTY DISCLOSURES |
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Included in other debtors is an amount of £5,074,543 (2016 - £5,074,543) due from companies under common |
control. These amounts are interest free and repayable on demand. |
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Amounts owed by related companies are comprised of loans in the amount of £738,238 (2016 - £792,823) made |
to entities with common directorship or control. These amounts are interest free and repayable on demand. |
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Amounts owed to related entities are comprised of loans in the amount of £3,557,178 (2016 - £3,498,383) due to |
entities with common directorship or control. These amounts are interest free and repayable on demand. |
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12. | FIRST YEAR ADOPTION |
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These are the first financial statements that comply with FRS 102 Section 1A small entities. The date of |
transition is 1 April 2015. |
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On transition to compliance with Financial Reporting Standard 102 the treatment for the deferred tax provision |
was reviewed. In the prior year, under UK GAAP reporting standard, recognition of deffered tax on revalued |
fixed assets was prohibited, unless there was a commitment to sell that fixed asset. Under FRS 102, a deferred |
tax provision must be recognised on investment property, that is measured at fair value, irrespective of whether |
the asset is likely to be sold. An increase in the deferred tax provision of £5,151,779 has been recognised in the |
comparative figures as a transitional adjustment, decreasing reserves by the same amount. This adjustment did |
not impact the company's retained earnings. |