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REGISTERED NUMBER: 08019583 (England and Wales)















Report of the Director and

Financial Statements for the Year Ended 31 December 2024

for

Promotion Bag UK Limited

Promotion Bag UK Limited (Registered number: 08019583)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Other Comprehensive Income 5

Balance Sheet 6

Statement of Changes in Equity 7

Notes to the Financial Statements 8


Promotion Bag UK Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: L Gronkjaer





REGISTERED OFFICE: 823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ





REGISTERED NUMBER: 08019583 (England and Wales)





ACCOUNTANTS: Krogh & Partners Limited
823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ

Promotion Bag UK Limited (Registered number: 08019583)

Report of the Director
for the Year Ended 31 December 2024

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of media representation services.

DIRECTOR
L Gronkjaer held office during the whole of the period from 1 January 2024 to the date of this report.

AUDITORS
The director has with reference to the exemptions in the Companies Act elected not to appoint auditors.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





L Gronkjaer - Director


14 January 2025

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Promotion Bag UK Limited (Registered number: 08019583)


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Promotion Bag UK Limited for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Promotion Bag UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Promotion Bag UK Limited and state those matters that we have agreed to state to the director of Promotion Bag UK Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Promotion Bag UK Limited and its director for our work or for this report.

It is your duty to ensure that Promotion Bag UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Promotion Bag UK Limited. You consider that Promotion Bag UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Promotion Bag UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Krogh & Partners Limited
823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ


14 January 2025

Promotion Bag UK Limited (Registered number: 08019583)

Income Statement
for the Year Ended 31 December 2024

2024 2023
Notes £    £   

TURNOVER 1,802 -

Administrative expenses 2,278 1,908
OPERATING LOSS (476 ) (1,908 )

Interest receivable and similar income - 5
LOSS BEFORE TAXATION (476 ) (1,903 )

Tax on loss 3 - -
LOSS FOR THE FINANCIAL YEAR (476 ) (1,903 )

Promotion Bag UK Limited (Registered number: 08019583)

Other Comprehensive Income
for the Year Ended 31 December 2024

2024 2023
Notes £    £   

LOSS FOR THE YEAR (476 ) (1,903 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(476

)

(1,903

)

Promotion Bag UK Limited (Registered number: 08019583)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 1,529 1,828
Cash at bank 15,544 16,201
17,073 18,029
CREDITORS
Amounts falling due within one year 5 400 880
NET CURRENT ASSETS 16,673 17,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,673

17,149

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 16,573 17,049
SHAREHOLDERS' FUNDS 16,673 17,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 14 January 2025 and were signed by:





L Gronkjaer - Director


Promotion Bag UK Limited (Registered number: 08019583)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100 18,952 19,052

Changes in equity
Total comprehensive income - (1,903 ) (1,903 )
Balance at 31 December 2023 100 17,049 17,149

Changes in equity
Total comprehensive income - (476 ) (476 )
Balance at 31 December 2024 100 16,573 16,673

Promotion Bag UK Limited (Registered number: 08019583)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

A summary of the more important accounting policies, which have been applied consistently, is set out below:

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Interest and similar income and charges
Interest and similar income and charges are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount.

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Assets and liabilities in foreign currencies are translated into sterling at rates of exchange ruling at the end of the financial year. All exchange differences are dealt with in the profit and loss account.

Debtors
Debtors are valued individually and there are made provision according to this valuation.

Creditors
Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost.

Taxation
Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

3. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Promotion Bag UK Limited (Registered number: 08019583)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,408 1,408
Other debtors 100 260
VAT 21 160
1,529 1,828

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 480
Accruals and deferred income 400 400
400 880

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

7. ULTIMATE CONTROLLING PARTY

1981 Holding ApS (incorporated in Denmark) is regarded by the director as being the company's ultimate parent company.

The financial statements for the parent company may be obtained at:

1981 Holding ApS
Jægervangen 48, st.
2820 Gentofte.
Denmark

The ultimate controlling party is Lars Gronkjaer by virtue of his 100% shareholding in the ultimate parent company.