Sport & Artist Management Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03817856

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2016

FOR

SPORT & ARTIST MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Hon R W Hanson

J G Harris

SECRETARY:

Mr. J G Harris

REGISTERED OFFICE:

64 New Cavendish Street

London

W1G 8TB

REGISTERED NUMBER:

03817856

ACCOUNTANTS:

Harris & Trotter LLP

Chartered Accountants

64 New Cavendish Street

London

W1G 8TB

FIXED ASSETS

Tangible assets

4

1,906

5,812

CURRENT ASSETS

Debtors

5

75,713

61,618

Cash at bank

4,536

-

80,249

61,618

CREDITORS

Amounts falling due within one year

6

123,320

103,958

NET CURRENT LIABILITIES

(43,071

)

(42,340

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41,165

)

(36,528

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

(41,167

)

(36,530

)

SHAREHOLDERS' FUNDS

(41,165

)

(36,528

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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 21st December 2017 and were signed on its behalf by:

J G Harris - Director

1.	STATUTORY INFORMATION

Sport & Artist Management Limited is a private company, limited by shares , registered in Not specified/Other.

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.

Turnover

Turnover represents net fees receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2016

26,450

1,974

28,424

Additions

650

-

650

At 31st December 2016

27,100

1,974

29,074

DEPRECIATION

At 1st January 2016

20,638

1,974

22,612

Charge for year

4,556

-

4,556

At 31st December 2016

25,194

1,974

27,168

NET BOOK VALUE

At 31st December 2016

1,906

-

1,906

At 31st December 2015

5,812

-

5,812

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

11,301

19,801

Other debtors

9,037

442

Prepayments and accrued income

55,375

41,375

75,713

61,618

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts (see note 7)

6,815

11,320

Trade creditors

45,157

48,911

Tax

1,349

632

VAT

44,728

33,972

Other creditors

5,203

5,000

Directors' loan accounts

1,218

1,446

Accruals and deferred income

18,850

2,677

123,320

103,958

7.

LOANS

An analysis of the maturity of loans is given below:

2016

2015

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

6,815

11,320

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1st January 2016

(36,530

)

Deficit for the year

(4,637

)

At 31st December 2016

(41,167

)

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

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

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

financial statements of Sport & Artist Management Limited for the year ended 31st December 2016 which comprise the

Statement of Comprehensive Income, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sport & Artist Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sport & Artist Management Limited and state those matters that we have agreed to state to the Board of Directors of Sport & Artist Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sport & Artist Management Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sport & Artist Management 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 loss of Sport & Artist Management Limited. You consider that Sport & Artist Management 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 Sport & Artist Management 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.

Harris & Trotter LLP

Chartered Accountants

64 New Cavendish Street

London

W1G 8TB

21st December 2017