ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-06-302017-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2016-10-01 10405720 2016-09-30 10405720 2016-10-01 2017-06-30 10405720 2017-06-30 10405720 c:Director1 2016-10-01 2017-06-30 10405720 d:ComputerEquipment 2016-10-01 2017-06-30 10405720 d:ComputerEquipment 2017-06-30 10405720 d:ComputerEquipment d:OwnedOrFreeholdAssets 2016-10-01 2017-06-30 10405720 d:CurrentFinancialInstruments 2017-06-30 10405720 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-30 10405720 d:ShareCapital 2017-06-30 10405720 d:RetainedEarningsAccumulatedLosses 2017-06-30 10405720 c:FRS102 2016-10-01 2017-06-30 10405720 c:AuditExempt-NoAccountantsReport 2016-10-01 2017-06-30 10405720 c:FullAccounts 2016-10-01 2017-06-30 10405720 c:PrivateLimitedCompanyLtd 2016-10-01 2017-06-30 iso4217:GBP xbrli:pure

Company registration number: 10405720

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 30 JUNE 2017

	SPORTCAST LIMITED


SPORTCAST LIMITED REGISTERED NUMBER:10405720

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2017

		2017
Note		£

Fixed assets
Tangible assets	4		122
			122
Current assets
Debtors: amounts falling due within one year	5	10,111
		10,111
Creditors: amounts falling due within one year	6	(529,174)
Net current (liabilities)/assets			(519,063)
Total assets less current liabilities			(518,941)

Net (liabilities)/assets			(518,941)

Capital and reserves
Called up share capital			100
Profit and loss account			(519,041)
			(518,941)

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr B Hassan

Director

Date: 12 March 2018

The notes on pages 2 to 4 form part of these financial statements.

Page 1


SPORTCAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2017

1.	General information

Sportcast Limited is a private company limited by shares incorporated in England and Wales. The registered office address is given in the company information page of these financial statements. The principal place of business is Warnford Court, 29 Throgmorton Street, London, EC2N 2AT.

2.Accounting policies

2.1

Basis of preparation of financial statements

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:

2.2

Going concern

At the balance sheet date, the company had net liabilities of £518,941. The company has the ongoing support from its parent company which enables the company to meet creditors as they fall due. Accordingly, the financial statements have been prepared on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment

33%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.5

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Page 2


SPORTCAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2017

2.Accounting policies (continued)

2.6

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Employees

The average monthly number of employees, including directors, during the period was 4.

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	127
	At 30 June 2017	127
	Depreciation
	Charge for the period on owned assets	5
	At 30 June 2017	5
	Net book value
	At 30 June 2017	122

Page 3


SPORTCAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2017

Debtors

					2017
					£


	Other debtors	9,600
	Prepayments and accrued income	511
		10,111

6.	Creditors: Amounts falling due within one year
		2017
		£

	Trade creditors	586
	Amounts owed to group undertakings	503,114
	Other taxation and social security	17,312
	Other creditors	6,562
	Accruals and deferred income	1,600
		529,174

7.	Ultimate parent company
	Sportcast PTY is the immediate and ultimate parent company registered in Australia. The principal place of business address is 80 Market Street, South Melbourne, VIC 3205.

Page 4