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Registered number: 13467579









POPMENU UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
POPMENU UK LIMITED
REGISTERED NUMBER:13467579

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
14,614
6,598

Cash at bank and in hand
  
56,790
52,735

  
71,404
59,333

Creditors: amounts falling due within one year
 5 
(42,704)
(40,888)

Net current assets
  
 
 
28,700
 
 
18,445

Total assets less current liabilities
  
28,700
18,445

  

Net assets
  
28,700
18,445


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
28,600
18,345

  
28,700
18,445


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 comprehensive income 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: 




R Vas
Director

Date: 29 July 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
POPMENU UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
100
2,328
2,428


Comprehensive income for the year

Profit for the year
-
16,017
16,017
Total comprehensive income for the year
-
16,017
16,017



At 1 January 2023
100
18,345
18,445


Comprehensive income for the year

Profit for the year
-
10,255
10,255
Total comprehensive income for the year
-
10,255
10,255


At 31 December 2023
100
28,600
28,700


Page 2

 
POPMENU UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Popmenu UK Limited is a private company, limited by shares, incorporated and domiciled in England and Wales. The address of the registered office is 5 New Street Square, London, United Kingdom, EC4A 3TW and its company number is 13467579.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements are prepared 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

The financial statements have been prepared on a going concern basis.  
The directors have received confirmation from the ultimate parent company, Popmenu Inc,  that it will continue to use the Company to service its markets in the UK for the period covering at least the next 12 months from the date of signing of these accounts.
The directors of the parent company have confirmed in writing to the directors of Popmenu UK Limited that it will provide financial support to enable the Company to continue as a going concern and meet its liabilities as they fall due for a period of at least one year from the date of approval of these financial statements.
In the event that the existing trading relationship in place with Popmenu Inc were to change, the Company may not remain a going concern. The directors do not believe this to be a likely scenario. On this basis, the directors of the Company have concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.
Therefore the directors consider it appropriate to prepare the accounts on the going concern basis. The financial statements do not include any adjustments that would be required in the event of the withdrawal of this support.

Page 3

 
POPMENU UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.6

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.

Page 4

 
POPMENU UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term 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.
 
 
2.9

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
3,594
-

VAT recoverable
11,020
6,598

14,614
6,598



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
-
8,663

Corporation tax
6,271
3,757

Other taxation and social security
2,549
8,475

Accruals
33,884
19,993

42,704
40,888


Page 5

 
POPMENU UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,703 (2022 - £3,989). 


7.


Related party transactions

The company has taken advantage of the exemption available under Section 33 of FRS 102 and has not disclosed details of transactions or balances with other wholly-owned group companies. 


8.


Controlling party

The ultimate parent undertaking is Popmenu Inc, a company incorporated in USA. The registered office is 1000 Parkwood Circle Suite 100 Atlanta, GA 30339.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 29 July 2024 by Stephen Drew (Senior Statutory Auditor) on behalf of CLA Evelyn Partners Limited.

Page 6