ROAR Global Sports Ltd - Accounts to registrar (filleted) - small 17.3

ROAR GLOBAL SPORTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Jonathan Shalit OBE

Grant Adam Michaels

REGISTERED OFFICE:

ROAR House

46 Charlotte Street

London

W1T 2GS

REGISTERED NUMBER:

07472294 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Intangible assets

4

18,000

22,000

Tangible assets

5

1,298

1,558

19,298

23,558

CURRENT ASSETS

Debtors

6

3,794

18,801

Cash at bank

187,722

18,108

191,516

36,909

CREDITORS

Amounts falling due within one year

7

165,953

89,360

NET CURRENT ASSETS/(LIABILITIES)

25,563

(52,451

)

TOTAL ASSETS LESS CURRENT LIABILITIES

44,861

(28,893

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

44,860

(28,894

)

SHAREHOLDERS' FUNDS

44,861

(28,893

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11 October 2017 and were signed on its behalf by:

Jonathan Shalit OBE - Director

1.	STATUTORY INFORMATION

ROAR Global 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has

affected the reported financial position and financial performance is given in note 11.

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 2 (2016 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

40,000

AMORTISATION

At 1 July 2016

18,000

Charge for year

4,000

At 30 June 2017

22,000

NET BOOK VALUE

At 30 June 2017

18,000

At 30 June 2016

22,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

fittings

premises

& equipment

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

2,594

15,405

17,999

DEPRECIATION

At 1 July 2016

1,037

15,404

16,441

Charge for year

259

1

260

At 30 June 2017

1,296

15,405

16,701

NET BOOK VALUE

At 30 June 2017

1,298

-

1,298

At 30 June 2016

1,557

1

1,558

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,740

1,613

Amounts owed by group undertakings

1,054

17,188

3,794

18,801

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

900

Amounts owed to group undertakings

23,045

49,448

Taxation and social security

60,536

3,459

Other creditors

82,372

35,553

165,953

89,360

8.	TRANSACTIONS WITH DIRECTORS

During the year the company paid a dividend of £47,500 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 ROAR Global Sports Ltd.

11.	FIRST YEAR ADOPTION

The policies applied under the company's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit and loss.