SINGULAR EVENTS UK LTD

Company Registration Number:
14002729 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

SINGULAR EVENTS UK LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

SINGULAR EVENTS UK LTD

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activity of the Company is that of promoters of art, entertainment and recreation events within the UK.

Additional information

Going concern The net liabilities on the Balance Sheet as at 31 December 2023 are £2,275,504 (2022: £27,510) of which the amount owed to group undertakings is £10,682,510 (2022: £20,458,487) which will not be called upon. The characteristics of the actual market and the point that Fever group supports the Company to face any debts they might incur, the director has reviewed, considered relevant information and is not aware of any uncertainties so he has concluded that the Company can continue to adopt the going concern basis. Small companies exemption In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

S Ali Aamir


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
4 February 2025

And signed on behalf of the board by:
Name: S Ali Aamir
Status: Director

SINGULAR EVENTS UK LTD

Profit And Loss Account

for the Period Ended 31 December 2023

2023 9 months to 31 December 2022


£

£
Turnover: 2,081,820 9,444,385
Cost of sales: ( 2,052,783 ) ( 4,993,183 )
Gross profit(or loss): 29,037 4,451,202
Administrative expenses: ( 2,677,181 ) ( 4,478,812 )
Operating profit(or loss): (2,648,144) (27,610)
Profit(or loss) before tax: (2,648,144) (27,610)
Tax: 400,150
Profit(or loss) for the financial year: (2,247,994) (27,610)

SINGULAR EVENTS UK LTD

Balance sheet

As at 31 December 2023

Notes 2023 9 months to 31 December 2022


£

£
Fixed assets
Tangible assets: 3 7,914,735 9,658,879
Total fixed assets: 7,914,735 9,658,879
Current assets
Debtors: 4 1,026,619 13,518,811
Cash at bank and in hand: 16,444 18,353
Total current assets: 1,043,063 13,537,164
Creditors: amounts falling due within one year: 5 ( 11,233,302 ) ( 23,223,553 )
Net current assets (liabilities): (10,190,239) (9,686,389)
Total assets less current liabilities: (2,275,504) ( 27,510)
Total net assets (liabilities): (2,275,504) (27,510)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (2,275,604 ) (27,610 )
Total Shareholders' funds: ( 2,275,504 ) (27,510)

The notes form part of these financial statements

SINGULAR EVENTS UK LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 4 February 2025
and signed on behalf of the board by:

Name: S Ali Aamir
Status: Director

The notes form part of these financial statements

SINGULAR EVENTS UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: the Company has transferred the significant risks and rewards of ownership to the buyer; the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; the amount of turnover can be measured reliably; it is probable that the Company will receive the consideration due under the transaction; and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of turnover can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Certain assets have been defined as having a shorter economic useful life. Depreciation is provided on the following basis: Machinery & Equipment – 4 years The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

    Other accounting policies

    Basis of preparation of financial statements The financial statements have been prepared on a going concern basis, under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied consistently throughout the year: Going concern The net liabilities on the Balance Sheet as at 31 December 2023 are £2,275,504 (2022: £27,510) of which the amount owed to group undertakings is £10,682,510 (2022: £20,458,487) which will not be called upon. The characteristics of the actual market and the point that Fever group supports the Company to face any debts they might incur, the director has reviewed, considered relevant information and is not aware of any uncertainties so he has concluded that the Company can continue to adopt the going concern basis. Current and deferred taxation Tax is recognised in the Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date. Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. 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. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right shortterm loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. 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. Nonmonetary 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. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'interest receivable and similar income' or 'interest payable and similar expenses'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'administrative expenses'. Pensions Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

SINGULAR EVENTS UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 9 months to 31 December 2022
    Average number of employees during the period 3 27

SINGULAR EVENTS UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 12,232,573 12,232,573
Additions 573,744 573,744
Disposals
Revaluations
Transfers
At 31 December 2023 12,806,317 12,806,317
Depreciation
At 1 January 2023 2,573,694 2,573,694
Charge for year 2,317,888 2,317,888
On disposals
Other adjustments
At 31 December 2023 4,891,582 4,891,582
Net book value
At 31 December 2023 7,914,735 7,914,735
At 31 December 2022 9,658,879 9,658,879

SINGULAR EVENTS UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 9 months to 31 December 2022
£ £
Trade debtors 90,697 1,178,567
Prepayments and accrued income 543,524 81,806
Other debtors 392,398 12,258,438
Total 1,026,619 13,518,811

2023 Corporation tax receivable: 541220 9 months to 31 December 2022 Amounts owed by group undertakings: 11703318

SINGULAR EVENTS UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 9 months to 31 December 2022
£ £
Trade creditors 157,547
Taxation and social security 105,992 300,716
Accruals and deferred income 169,443 2,464,350
Other creditors 10,800,320 20,458,487
Total 11,233,302 23,223,553