InterTalent Sports Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07472294 (England and Wales)

INTERTALENT SPORTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Prof Jonathan Shalit OBE

REGISTERED OFFICE:

1st Floor Malvern House

15-16 Nassau Street

Fitzovia

London

W1W 7AB

REGISTERED NUMBER:

07472294 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Intangible assets

4

-

14,000

Tangible assets

5

-

1,038

-

15,038

CURRENT ASSETS

Debtors

6

-

1,400

Cash at bank

3,902

207,351

3,902

208,751

CREDITORS

Amounts falling due within one year

7

3,510

223,257

NET CURRENT ASSETS/(LIABILITIES)

392

(14,506

)

TOTAL ASSETS LESS CURRENT LIABILITIES

392

532

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

391

531

SHAREHOLDERS' FUNDS

392

532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 on 4 February 2020 and were signed by:

Prof Jonathan Shalit OBE - Director

1.	STATUTORY INFORMATION

InterTalent Sports 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents the invoiced value of services supplied by the company, net of value added tax and trade

discount.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Leasehold premises

-

10% on cost

Fixtures fittings & equipment

-

25% on cost

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a

result of a past event, it is probable that the company will be required to settle the obligation and the amount of

the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to

settle the obligation at the reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 2 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

40,000

Disposals

(40,000

)

At 30 June 2019

-

AMORTISATION

At 1 July 2018

26,000

Charge for year

4,000

Eliminated on disposal

(30,000

)

At 30 June 2019

-

NET BOOK VALUE

At 30 June 2019

-

At 30 June 2018

14,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

fittings

premises

& equipment

Totals

£

£

£

COST

At 1 July 2018

2,594

15,405

17,999

Disposals

(2,594

)

(15,405

)

(17,999

)

At 30 June 2019

-

-

-

DEPRECIATION

At 1 July 2018

1,556

15,405

16,961

Charge for year

260

-

260

Eliminated on disposal

(1,816

)

(15,405

)

(17,221

)

At 30 June 2019

-

-

-

NET BOOK VALUE

At 30 June 2019

-

-

-

At 30 June 2018

1,038

-

1,038

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

1,400

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

480

480

Amounts owed to group undertakings

68

30,805

Taxation and social security

712

18,314

Other creditors

2,250

173,658

3,510

223,257

8.	TRANSACTIONS WITH DIRECTORS

During the year the company paid a dividend of £ nil (2018: £90,000) to Warbeck Holdings Limited which is a

company wholly owned by Jonathan Shalit, who is a director of the company.

9.	RELATED PARTY DISCLOSURES

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.

10.	ULTIMATE CONTROLLING PARTY

Jonathan S Shalit who is a director controls the company by virtue of a controlling interest of 100% of the issued

share capital through Warbeck Holdings Limited, the parent company of InterTalent Sports Ltd.