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Company Registration No. 10958626 (England and Wales)
10958626 Ltd Unaudited accounts for the period from 1 April 2024 to 31 December 2024
10958626 Ltd Unaudited accounts Contents
Page
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10958626 Ltd Company Information for the period from 1 April 2024 to 31 December 2024
Director
C N Evans
Company Number
10958626 (England and Wales)
Registered Office
Stone House Fulwood Park Liverpool Merseyside L17 5AG England
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10958626 Ltd Statement of financial position as at 31 December 2024
31/12/2024 
31/03/2024 
Notes
£ 
£ 
Creditors: amounts falling due within one year
(129,224)
(128,056)
Net current liabilities
(129,224)
(128,056)
Total assets less current liabilities
(129,224)
(128,056)
Provisions for liabilities
Other provisions
(10,115)
(15,115)
Net liabilities
(139,339)
(143,171)
Capital and reserves
Called up share capital
233 
233 
Profit and loss account
(139,572)
(143,404)
Shareholders' funds
(139,339)
(143,171)
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 January 2025 and were signed on its behalf by
C N Evans Director Company Registration No. 10958626
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10958626 Ltd Notes to the Accounts for the period from 1 April 2024 to 31 December 2024
1
Statutory information
10958626 Ltd is a private company, limited by shares, registered in England and Wales, registration number 10958626. The registered office is Stone House, Fulwood Park, Liverpool, Merseyside, L17 5AG, England. The company is in the process of being wound up.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The accounts are prepared on a “break-up” basis, i.e. a basis other than going concern.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared on a break-up basis. The Company ceased trading on 01 May 2023 and began realising assets for the benefit of its creditors. The Company is not a going concern. NO FURTHER ASSET REALISATIONS ARE ANTICIPATED.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2024
107,000 
At 31 December 2024
107,000 
Amortisation
At 1 April 2024
107,000 
At 31 December 2024
107,000 
Net book value
At 31 December 2024
- 
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10958626 Ltd Notes to the Accounts for the period from 1 April 2024 to 31 December 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2024
3,208 
3,186 
2,135 
8,529 
At 31 December 2024
3,208 
3,186 
2,135 
8,529 
Depreciation
At 1 April 2024
3,208 
3,186 
2,135 
8,529 
At 31 December 2024
3,208 
3,186 
2,135 
8,529 
Net book value
At 31 December 2024
- 
- 
- 
- 
6
Creditors: amounts falling due within one year
31/12/2024 
31/03/2024 
£ 
£ 
Bank loans and overdrafts
63,454 
63,454 
Trade creditors
4,961 
4,961 
Amounts owed to group undertakings and other participating interests
40,259 
40,259 
Taxes and social security
14,562 
13,394 
Other creditors
5,988 
5,988 
129,224 
128,056 
SECURITY GIVEN Node Finance Ltd (CRN 9938882), formerly called Tokyo.UK Team LTD and is the former parent undertaking is owed the sum of £40,259 which is secured by way of a fixed and floating charge debenture registered 30 April 2021 with Charge Code 1095 8626 0003. This amount sits in amounts due to Group Undertakings < 1 Year. VC Finance Ltd (CRN 7373678) is owed the sum of £5,988 which is secured by way of a fixed and floating charge debenture registered 30 February 2023 with Charge Code 1095 8626 0004 28. This amount is in Other Creditors < 1 Year. NOVATION OF CONTRACT - REMOVING LIABILITY (prior period) In the 2023 year, following an agreement entered into with Tokyo Technologies Ltd the liability to provide work paid for in advance in the amount of £326,070 was taken on, this assignment took effect by way of a Deed of Novation. The end supplier ultimately cancelled on Tokyo Technologies Ltd which triggered an urgent funding requirement within the sucessor business. The transaction had the net effect of removing what would have been an even larger liability given the inability of the Company to carry out the work (estimated to be in aggregate of £500,000) attributable to cogent actions by the new management team to realise value for Creditors. Taxes and Social Security have risen by £1,168 due to interest being applied by HMRC to the balance due. BREAK UP BASIS As the accounts are prepared on a break up basis, all amounts falling due > 1 year are now current liabilities and are stated as such. The Company is in default of its financial facilities and the Bank have demanded repayment in full of the loan and overdraft. (both of which are unsecured) NO FURTHER ASSET REALISATIONS ARE ANTICIPATED AND THEREFORE NO FURTHER AMOUNTS ABLE TO BE PAID TO OR RECOVERED BY CREDITORS
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10958626 Ltd Notes to the Accounts for the period from 1 April 2024 to 31 December 2024
7
Share capital
31/12/2024 
31/03/2024 
£ 
£ 
Allotted, called up and fully paid:
233 Ordinary shares of £1 each
233 
233 
8
Contingent liabilities
During the return of lease cars certain damage charges are applied that can not be foreseen. In the prior period a Novation which the Company believed had taken place of a car with VWFS has an outstanding balance of c.£5k. A provision for this liability had been made within the accounts but has since been released as the Director believes their claim has no prospect of success.. This was made in the prior and retained in the existing period. In addition there is a further provision of approximately £4k in relation to a dispute with Leaseplan UK Ltd. Finally there is a dispute as to if rent is owned on the former premises of the company, an amount of £4,961 sits in Creditors < 1 year and a charge recognised to the P&L, as stated this amount is however in dispute.
9
Transactions with related parties
The transactions detailed in Note 8, including the secured loans from Node Finance Ltd and VC Finance Ltd are also related party transactions by virtue of C N Evans being a Director and ultimate or substantial Shareholder. These are unchanged since the prior year.
10
Average number of employees
During the period the average number of employees was 1 (31/03/2024: 2).
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