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TGI SPORT MEDIA (HOLDINGS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
TGI Sport Media (Holdings) Limited is a limited liability company registered in England and Wales. Its registered office address is at 5-6 Henrietta Street, London, WC2E 8PS.
The principal activity of the Company during the year was that of a holding company.
The financial statements are presented in £ sterling, which is the functional currency of the Company.
The Company was incorporated and started trading on 8 April 2022.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Investments in subsidiaries are measured at cost less accumulated impairment.
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Basic financial instruments
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The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.
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The average monthly number of employees, including directors, during the period was 3.
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