Director
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10/12/2024
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Director
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for and on behalf of
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65 Compton Street
London
EC1V 0BN
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2024 | 2023 | |||
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Notes | £ | £ | ||
TURNOVER | 3 |
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GROSS PROFIT |
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Administrative expenses |
( |
( |
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OPERATING LOSS | 4 |
( |
( |
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Other interest receivable and similar income | 10 |
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Interest payable and similar charges | 11 |
( |
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LOSS BEFORE TAXATION |
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Tax on Loss | 12 |
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LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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( |
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2024 | 2023 | |||
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£ | £ | |||
LOSS FOR THE FINANCIAL YEAR |
( |
( |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
( |
( |
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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
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CURRENT ASSETS | |||||
Debtors | 15 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 16 |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 17 |
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Share premium account |
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Other reserves |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 466,356 | 351,400 | |||
Director
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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investments | 14 |
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CURRENT ASSETS | |||||
Debtors | 15 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 16 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 17 |
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Share premium account |
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Other reserves |
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Profit and Loss Account |
( |
( |
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SHAREHOLDERS' FUNDS | 3,468,524 | 2,722,845 | |||
Director
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Share Capital | Share Premium | Other reserves | Profit and Loss Account | Total | |
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£ | £ | £ | £ | £ | |
As at 1 July 2022 |
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( |
3,008,432 |
Loss for the year and total comprehensive income | - | - | - |
( |
(2,827,313) |
Arising on shares issued during the period |
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124,798 | - | - | 125,000 |
Movements in other reserves | - | - | 45,281 | - | 45,281 |
As at 30 June 2023 and 1 July 2023 |
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( |
351,400 |
Loss for the year and total comprehensive income | - | - | - |
( |
(1,368,352) |
Arising on shares issued during the period |
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1,460,296 | - | - | 1,461,399 |
Movements in other reserves | - | - | 21,909 | - | 21,909 |
As at 30 June 2024 |
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( |
466,356 |
Share Capital | Share Premium | Other reserves | Profit and Loss Account | Total | |
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£ | £ | £ | £ | £ | |
As at 1 July 2022 |
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( |
3,740,937 |
Loss for the year and total comprehensive income | - | - | - |
( |
(1,188,373) |
Arising on shares issued during the period |
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124,798 | - | - | 125,000 |
Movements in other reserves | - | - | 45,281 | - | 45,281 |
As at 30 June 2023 and 1 July 2023 |
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( |
2,722,845 |
Loss for the year and total comprehensive income | - | - | - |
( |
(737,630) |
Arising on shares issued during the period |
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1,460,297 | - | - | 1,461,400 |
Movements in other reserves | - | - | 21,909 | - | 21,909 |
As at 30 June 2024 |
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( |
3,468,524 |
2024 | 2023 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash used in operations | 1 |
( |
( |
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Interest (paid)/refunded |
( |
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Tax refunded |
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Share based payment transactions | 21,909 | 45,281 | ||
Net cash used in operating activities |
( |
( |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
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Interest received |
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Net cash used in investing activities |
( |
( |
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Cash flows from financing activities | ||||
Proceeds from issue of share capital |
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Proceeds from new other loans | - | 156,114 | ||
Repayment of other loans | (156,114) | - | ||
Amount withdrawn by directors | (9,970) | (165,000) | ||
Net cash generated from financing activities |
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Increase/(decrease) in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 |
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Cash and cash equivalents at end of year | 2 |
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2024 | 2023 | ||
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£ | £ | ||
Loss for the financial year |
( |
( |
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Adjustments for: | |||
Tax on loss | - |
( |
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Interest expense |
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( |
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Interest income | - |
( |
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Depreciation of tangible assets |
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Movements in working capital: | |||
Decrease/(increase) in trade and other debtors |
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( |
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Decrease in trade and other creditors |
( |
( |
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Net cash used in operations |
( |
( |
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2024 | 2023 | ||
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£ | £ | ||
Cash at bank and in hand |
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As at 1 July 2023 | Cash flows | As at 30 June 2024 | |
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£ | £ | £ | |
Cash at bank and in hand |
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27,735 |
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Debts falling due within one year |
( |
156,114 |
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174,516 | 183,849 | 358,365 | |
2024 | 2023 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash used in operations | 1 |
( |
( |
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Interest paid |
( |
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Tax refunded |
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Share based payment transactions | 21,909 | 45,281 | ||
Net cash used in operating activities |
( |
( |
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Cash flows from investing activities | ||||
Purchase of investment in subsidiary undertaking |
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Interest received |
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Net cash used in investing activities |
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( |
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Cash flows from financing activities | ||||
Proceeds from issue of share capital |
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Proceeds from new other loans | - | 156,114 | ||
Repayment of other loans | (156,114) | - | ||
Amount withdrawn by directors | - | (165,000) | ||
Net cash generated from financing activities |
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Decrease in cash and cash equivalents |
( |
( |
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Cash and cash equivalents at beginning of year | 2 |
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Cash and cash equivalents at end of year | 2 |
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2024 | 2023 | ||
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£ | £ | ||
Loss for the financial year |
( |
( |
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Adjustments for: | |||
Tax on loss | - |
( |
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Interest expense |
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Interest income | - |
( |
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Movements in working capital: | |||
Decrease/(increase) in trade and other debtors |
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( |
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(Decrease)/increase in trade and other creditors |
( |
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Net cash used in operations |
( |
( |
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2024 | 2023 | ||
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£ | £ | ||
Cash at bank and in hand |
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As at 1 July 2023 | Cash flows | As at 30 June 2024 | |
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£ | £ | £ | |
Cash at bank and in hand |
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(230,411) |
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Debts falling due within one year |
( |
156,114 |
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81,303 | (74,297) | 7,006 | |
Office Equipment |
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Computer Equipment |
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2024 | 2023 | ||
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£ | £ | ||
Bad debts | 106,591 | - | |
Depreciation of tangible fixed assets |
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2024 | 2023 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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Group | Company | ||||||
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2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Wages and salaries |
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Social security costs |
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Other pension costs |
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Group | Company | ||||||
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2024 | 2023 | 2024 | 2023 | ||||
Office and administration | - | - |
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2024 | 2023 | ||
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£ | £ | ||
Emoluments |
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2024 | 2023 | ||
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£ | £ | ||
Bank interest receivable | - |
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- | 1,473 | ||
2024 | 2023 | ||
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£ | £ | ||
Foreign exchange charges |
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( |
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538 | (230) | ||
The tax credit on the loss for the year was as follows:
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2024 | 2023 | ||
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£ | £ | ||
Current tax | |||
UK Corporation Tax |
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( |
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Total tax charge for the period |
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The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:
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2024 | 2023 | ||
£ | £ | ||
Profit before tax | (1,368,352) | (2,904,791) | |
Tax on profit at 0% (UK standard rate) |
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Total tax charge for the period | - | - | |
Office Equipment | Computer Equipment | Total | |
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£ | £ | £ | |
Cost | |||
As at 1 July 2023 |
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Additions |
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As at 30 June 2024 |
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Depreciation | |||
As at 1 July 2023 |
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Provided during the period |
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As at 30 June 2024 |
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Net Book Value | |||
As at 30 June 2024 |
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As at 1 July 2023 |
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Subsidiaries | |
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£ | |
Cost | |
As at 1 July 2023 |
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As at 30 June 2024 |
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Provision | |
As at 1 July 2023 |
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As at 30 June 2024 |
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Net Book Value | |
As at 30 June 2024 |
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As at 1 July 2023 |
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Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
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65 Compton Street, London, EC1V 0BN |
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- |
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65 Compton Street, London, EC1V 0BN |
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- |
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65 Compton Street, London, EC1V 0BN |
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- |
Capital and Reserves | Profit/(loss) | |
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£ | £ | |
Mintus Trading Limited |
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Mintus International Limited |
( |
( |
Arts International Ltd |
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Name of undertaking | Registered Number |
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13843446 |
Group | Company | ||||||
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2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Prepayments and accrued income |
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Other debtors | - |
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Corporation tax recoverable assets |
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VAT |
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Net wages | 180 | - | - | - | |||
Directors' loan accounts |
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- | - | - | |||
Called up share capital not paid |
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Amounts owed by group undertakings | - |
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Amounts owed by other participating interests | 72,751 | 39,898 | - | - | |||
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Group | Company | ||||||
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2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Trade creditors |
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Other loans | - |
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Other taxes and social security |
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- | - | |||
Net wages | - | 2,756 | - | - | |||
Other creditors |
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Accruals and deferred income |
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Directors' loan accounts |
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- | - | - | |||
Amounts owed to group undertakings | - | - |
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Amounts owed to related parties | - | - |
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