Registration number:
iSport Worldwide Limited
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iSport Worldwide Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
iSport Worldwide Limited
Company Information
Directors |
J A Hoyle D Dongworth |
Registered office |
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Accountants |
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iSport Worldwide Limited
Statement of Financial Position as at 31 December 2022
Note |
2022 |
2021 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
20 |
20 |
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Retained earnings |
460,193 |
574,694 |
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Shareholders' funds |
460,213 |
574,714 |
For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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J A Hoyle
Director
Company registration number: 07465455
iSport Worldwide Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is providing consultancy services to the sports industry.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in euros, which is the functional currency of the entity.
Going concern
The company had net assets of €460,213 at 31 December 2022, including cash at bank of €11,738,750.
The nature of the company's activities are such that the revenues generated are based on contractual entitlements which have been unaffected by global events.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have confirmed that recourse to sufficient working capital is available to enable the company to continue to meet its obligations as they fall due.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
iSport Worldwide Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company during the year, was
Debtors |
2022 |
2021 |
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Trade debtors |
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Other debtors |
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Accrued income |
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3,300,000 |
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iSport Worldwide Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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