REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Hold The Line (Polo) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Hold The Line (Polo) Limited |
Hold The Line (Polo) Limited (Registered number: 14068701) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Hold The Line (Polo) Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
123 Pall Mall |
St. James's |
London |
SW1Y 5EA |
Hold The Line (Polo) Limited (Registered number: 14068701) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Hold The Line (Polo) Limited (Registered number: 14068701) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Hold The Line (Polo) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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. |
Going concern |
The financial statements have been prepared on a going concern basis even though the company shows net liabilities of £144,451 (2023: £8,999) in the balance sheet. |
The ultimate controlling party has confirmed his intention to provide sufficient financial support to the company so as to enable it to meet its liabilities as they fall due and to enable it to carry on its business for the foreseeable future. Consequently, the director concluded that the company has adequate resources to pay its liabilities as and when due for the foreseeable future. For these reasons, he continues to adopt the going concern basis in preparing the accounts. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Hold The Line (Polo) Limited (Registered number: 14068701) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
During the year, the company has received loans from Alexandr Garese, the ultimate beneficial owner, amounting to the principal amount of €1,800,000 (equivalent to £1,551,140). As at year end, balance payable was €1,811,944 (equivalent to £1,547,151, including interest of €11,945 (equivalent to £10,289). The loans have interest payable of 2% and are repayable in September 2028. |
Included in debtors is an amount of £6,809 (2023: £NIL) due from Hold the Line Productions Ltd, a company under common management. |
9. | ULTIMATE CONTROLLING PARTY |