Digital Sports Group Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06789563 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31st March 2016

for

Digital Sports Group Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

8

DIRECTOR:

J D Richardson

REGISTERED OFFICE:

29a Crown Street

Brentwood

Essex

CM14 4BA

REGISTERED NUMBER:

06789563 (England and Wales)

ACCOUNTANTS:

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

FIXED ASSETS

Intangible assets

2

260,667

306,667

Tangible assets

3

164,270

209,500

Investments

4

204

425,141

516,371

CURRENT ASSETS

Stocks

18,733

19,169

Debtors

245,148

209,707

Cash at bank and in hand

824,853

794,547

1,088,734

1,023,423

CREDITORS

Amounts falling due within one year

1,068,672

960,899

NET CURRENT ASSETS

20,062

62,524

TOTAL ASSETS LESS CURRENT
LIABILITIES

445,203

578,895

CREDITORS

Amounts falling due after more than one
year

-

(407,309

)

PROVISIONS FOR LIABILITIES

(27,511

)

(37,153

)

NET ASSETS

417,692

134,433

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

417,592

134,333

SHAREHOLDERS' FUNDS

417,692

134,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 8th September 2016 and were signed by:

J D Richardson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared using the going concern concept. In the opinion of the directors,

preparing the financial statements on this basis is appropriate, as they have indicated that they intend to continue

to provide financial support to the company as required.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Digital Sports Group Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Revenue recognition

Turnover comprises income and agency commissions receivable in respect products and services derived from

the company's various website activities, consultancy fees and sales of domain names excluding Value Added

Tax. Sales are recognised in respect of gift vouchers when they are redeemed or when they expire.

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.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

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 the profit and loss account in the period to which they relate.

Gift voucher liabilities

The company sells gift vouchers which can be redeemed against its products for up to ten months from the date

of purchase. Gift vouchers are shown as deferred income until they are redeemed and provision is made at the

balance sheet date for anticipated voucher redemption liabilities based on the company's voucher redemption

rates experienced in the past.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

and 31st March 2016

460,000

AMORTISATION

At 1st April 2015

153,333

Amortisation for year

46,000

At 31st March 2016

199,333

NET BOOK VALUE

At 31st March 2016

260,667

At 31st March 2015

306,667

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

374,864

Additions

34,507

At 31st March 2016

409,371

DEPRECIATION

At 1st April 2015

165,364

Charge for year

79,737

At 31st March 2016

245,101

NET BOOK VALUE

At 31st March 2016

164,270

At 31st March 2015

209,500

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st April 2015

33,204

Disposals

(33,000

)

At 31st March 2016

204

PROVISIONS

At 1st April 2015

33,000

Eliminated on disposal

(33,000

)

At 31st March 2016

-

NET BOOK VALUE

At 31st March 2016

204

At 31st March 2015

204

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Digital Sports Network Limited

Nature of business: Non-trading company

%

Class of shares:

holding

Ordinary

100.00

31.3.16

31.3.15

£

Aggregate capital and reserves

100

Digital Sports Rights Limited

Nature of business: Non-trading company

%

Class of shares:

holding

Ordinary

100.00

31.3.16

31.3.15

£

Aggregate capital and reserves

100

Footy Mad Limited

Nature of business: Non-trading company

%

Class of shares:

holding

Ordinary A

100.00

Ordinary B

100.00

31.3.16

31.3.15

£

Aggregate capital and reserves

4

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

£1

100

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to seven)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Digital Sports Group Limited for the year ended 31st March 2016 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Digital Sports Group Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Digital Sports Group Limited and state those matters that we have agreed to state to the director of Digital Sports Group Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Digital Sports Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Digital Sports Group Limited. You consider that Digital Sports Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Digital Sports Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

8th September 2016