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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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INTERNATIONAL SPORTS MANAGEMENT LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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INTERNATIONAL SPORTS MANAGEMENT LIMITED |
INTERNATIONAL SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02386775) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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INTERNATIONAL SPORTS MANAGEMENT LIMITED |
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Company Information |
for the Year Ended 31 December 2016 |
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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 |
Spring Court |
Spring Road |
Hale |
Altrincham |
Cheshire |
WA14 2UQ |
INTERNATIONAL SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02386775) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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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
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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. |
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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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INTERNATIONAL SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02386775) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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International Sports Management Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention, and in accordance with applicable United |
Kingdom accounting standards. |
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Going Concern |
This has been taken into consideration when reviewing the cashflows of the company for the foreseeable future, and given |
this, in the opinion of the directors it is acceptable to prepare the accounts on a going concern basis. |
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Turnover |
Turnover derived from client representation is recognised in line with the benefits accruing to the client which is typically |
over the term of the contract to which it relates or in line with the contractual invoicing patterns. In the case of event |
management and corporate hospitality, turnover is typically recognised on completion of the related event or events. Where |
an annual programme of events is managed, turnover is recognised evenly over that period. |
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Turnover excludes value added tax and similar sales-related taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
INTERNATIONAL SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02386775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet |
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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
future payments is treated as a liability. |
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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. |
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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 | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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Disposals |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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INTERNATIONAL SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02386775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 January 2016 |
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Disposals | ( |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Other debtors |
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Amounts due from Holding co | 1,126,904 | 1,128,706 |
Directors' current accounts | 125,324 | 53,443 |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Hire purchase contracts (see note 7) |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation |
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Social security and other taxes |
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Accruals and deferred income |
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INTERNATIONAL SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02386775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under hire purchase fall due as follows: |
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31.12.16 | 31.12.15 |
£ | £ |
Net obligations repayable: |
Within one year |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | RELATED PARTY DISCLOSURES |
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At the year end A H Chandler, a director of the company, has a loan balance of £125,325 (2015 : £53,443). The maximum |
outstanding in the period was £125,325 (2015 : £53,443). |
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There is an intercompany balance with ISM (Hibernia) Limited, the ultimate holding company, which is detailed in note 5. |