Sports Recruitment International Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04166754 (England and Wales)

Sports Recruitment International Limited

Unaudited Financial Statements for the Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M T D Squires

REGISTERED OFFICE:

150 Buckingham Palace Road

London

SW1W 9TR

REGISTERED NUMBER:

04166754 (England and Wales)

ACCOUNTANTS:

Langdon West Williams PLC

Curzon House 2nd Floor

24 High Street

Banstead

Surrey

SM7 2LJ

FIXED ASSETS

Tangible assets

4

94,745

18,788

CURRENT ASSETS

Debtors

5

1,137,839

881,720

Cash at bank

-

204,899

1,137,839

1,086,619

CREDITORS

Amounts falling due within one year

6

955,291

872,368

NET CURRENT ASSETS

182,548

214,251

TOTAL ASSETS LESS CURRENT LIABILITIES

277,293

233,039

PROVISIONS FOR LIABILITIES

10,052

2,198

NET ASSETS

267,241

230,841

CAPITAL AND RESERVES

Called up share capital

113

113

Share premium

134,987

134,987

Retained earnings

132,141

95,741

SHAREHOLDERS' FUNDS

267,241

230,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 18 September 2018 and were signed by:

M T D Squires - Director

1.	STATUTORY INFORMATION

Sports Recruitment International Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 1, the director is required

to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on historical

experience and knowledge of the business and other factors that are considered to be relevant. Actual results

may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that period,

or in the period of the revision and future period if the revision affects both current and future periods.

The key areas are summarised below:

Depreciation

The company exercises judgement to determine useful lives and residual values of tangible fixed assets. The

assets are depreciated down to their estimated residual values over their estimated useful lives.

Provision for trade debtors

Provisions have been made for potential trade debtors which will not be collected. This provision is an

estimate based on the company's understanding, knowledge and historic trends.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Fixtures, fittings & equipment

-

25% on cost

Computer equipment

-

33% on cost

Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at the

settlement value with the exception of bank loans which are subsequently measured at amortised cost using

the effective interest rate method.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2016 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Short

fittings

Computer

leasehold

& equipment

equipment

Totals

£

£

£

£

COST

At 1 January 2017

-

73,212

90,613

163,825

Additions

31,758

10,044

61,270

103,072

Disposals

-

(994

)

(1,141

)

(2,135

)

At 31 December 2017

31,758

82,262

150,742

264,762

DEPRECIATION

At 1 January 2017

-

67,908

77,129

145,037

Charge for year

3,175

6,871

16,834

26,880

Eliminated on disposal

-

(759

)

(1,141

)

(1,900

)

At 31 December 2017

3,175

74,020

92,822

170,017

NET BOOK VALUE

At 31 December 2017

28,583

8,242

57,920

94,745

At 31 December 2016

-

5,304

13,484

18,788

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

396,867

336,666

Amounts owed by group undertakings

644,705

490,999

Other debtors

96,267

54,055

1,137,839

881,720

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

171,584

-

Trade creditors

160,911

61,155

Amounts owed to group undertakings

447,173

437,892

Taxation and social security

82,426

90,396

Other creditors

93,197

282,925

955,291

872,368

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

171,584

-

The company's and group's bank overdraft and loan are secured by a mortgage debenture including fixed and

floating charges over the assets and undertaking of the company and cross guarantees relating to the bank

borrowings of SRG 2016 Limited and Sports Recruitment Group Limited.

8.	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.

9.	ULTIMATE CONTROLLING PARTY

The company does not have an ultimate controlling party.