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Company registration number: 03112025







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2022


LINGUARAMA INTERNATIONAL GROUP LIMITED






































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LINGUARAMA INTERNATIONAL GROUP LIMITED
 


 
COMPANY INFORMATION


Directors
A Quazi 
N R Walker 




Registered number
03112025



Registered office
Magnus House
7th Floor

3 Lower Thames Street

London

EC3R 6HE




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


LINGUARAMA INTERNATIONAL GROUP LIMITED
 



CONTENTS



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6


 


LINGUARAMA INTERNATIONAL GROUP LIMITED
REGISTERED NUMBER:03112025



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
50,891
42,907

Cash at bank and in hand
  
112,785
76,972

  
163,676
119,879

Creditors: amounts falling due within one year
 6 
(995,408)
(890,969)

Net current liabilities
  
 
 
(831,732)
 
 
(771,090)

Total assets less current liabilities
  
(831,732)
(771,090)

  

Net liabilities
  
(831,732)
(771,090)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(831,733)
(771,091)

  
(831,732)
(771,090)


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: 




................................................
N R Walker
Director
Date: 12 September 2024

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

Page 1

 


LINGUARAMA INTERNATIONAL GROUP LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 October 2020
1
(763,546)
(763,545)


Comprehensive income for the year

Loss for the year
-
(7,545)
(7,545)
Total comprehensive income for the year
-
(7,545)
(7,545)



At 1 October 2021
1
(771,091)
(771,090)


Comprehensive income for the year

Loss for the year
-
(60,642)
(60,642)
Total comprehensive income for the year
-
(60,642)
(60,642)


At 30 September 2022
1
(831,733)
(831,732)


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

Page 2

 


LINGUARAMA INTERNATIONAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.


General information

Linguarama International Group Limited  is a private company limited by shares, registered in England and Wales. The address of its registered office and principal place of business is Magnus House, 7th Floor, 3 Lower Thames Street, London, EC3R 6HE.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

Company has net liabilities of £831,732 (2021: £771,090), however within total liabilities of £995,408 (2021: £890,969) there are intercompany creditors of £913,652 (2021: £823,667).
Marcus Evans Holdings (IOM) Ltd has confirmed that currently, as a major creditor of the UK company, it will not demand repayment of the amounts outstanding until such a time that the Company is able to make repayments without having a detrimental impact on the Company. The period for not demanding payment is at least 12 months from the date of signing these financial statements.
Marcus Evans Holdings (IOM) Ltd has also confirmed that it will currently continue to provide financial resources as may be required for the Company to meet its financial commitments as they fall due for at least twelve months from the date of approval of these financial statements.

At the time of approving the financial statements, the directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and Company also has group financial support available in case of financial difficulties. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.4

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.

Page 3

 


LINGUARAMA INTERNATIONAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

 
2.5

Revenue

Revenue arises from the provision of services in respect of management and arrangement of conferences. Revenue is measured at the fair value of the consideration received or receivable and represents amount for the provision of services in the normal course of business, net of discounts and other sales-related taxes.
Revenue is recognised at the completion of the conference, until which point the amounts invoiced are recorded as a deferred income.

  
2.6

Event related expenses

Directly attributable event expenses are recognised in the year in which the event has been completed. Expenses that related to an event taking place in a subsequent financial year but paid prior to the year end are recorded as prepayments in the statements of financial position.

  
2.7

Research and development

Research and development costs are charged to the profit and loss in the year of expenditure.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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 number of employees during the year was 5 (2021 -2).

Page 4

 


LINGUARAMA INTERNATIONAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.


Fixed asset investments





Investments in subsidiary companies

£





At 1 October 2021
1,183,000


Disposals
(1,183,000)



At 30 September 2022

-





At 1 October 2021
1,183,000


Impairment on disposals
(1,183,000)



At 30 September 2022

-



Net book value



At 30 September 2022
-



5.


Debtors

2022
2021
£
£


Trade debtors
37,318
37,588

Other debtors
365
-

Prepayments and accrued income
13,208
5,319

50,891
42,907



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
6,393
12,536

Amounts owed to group undertakings
913,652
823,667

Other creditors
13,040
12,957

Accruals and deferred income
62,323
41,809

995,408
890,969


Page 5

 


LINGUARAMA INTERNATIONAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

7.


Commitments under operating leases

At 30 September 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
3,547
3,547

Later than 1 year and not later than 5 years
5,616
9,164

9,163
12,711


8.


Controlling party

The parent company of the smallest and largest group of which the company is a member and for which group accounts are prepared is Marcus Evans Conferences Ltd, the address of its registered office is Magnus House, 7th Floor, 3 Lower Thames Street, London, EC3R 6HE. 


9.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2022 was unqualified.

The audit report was signed on 12 September 2024 by Andrew Cook FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 6