COMPANY REGISTRATION NUMBER:
07797005
Filleted Unaudited Financial Statements |
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Statement of Financial Position |
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31 December 2024
Current assets
Debtors |
4 |
1 |
|
1 |
|
---- |
|
---- |
Net current assets |
|
1 |
1 |
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---- |
---- |
Total assets less current liabilities |
|
1 |
1 |
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---- |
---- |
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Capital and reserves
Called up share capital |
|
1 |
1 |
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|
---- |
---- |
Shareholders funds |
|
1 |
1 |
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---- |
---- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the year and has not made either a profit or loss.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
6 February 2025
, and are signed on behalf of the board by:
Company registration number:
07797005
Notes to the Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, London, WC2H 7DQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, and in accordance with Financial Reporting Standard 102 Section 1A, the Financial Reporting Standard Applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have ceased trading in the Company in the prior year and therefore as required by Financial Reporting Standard 102 Section 1A, the directors have prepared financial statements on the basis that the Company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1 |
1 |
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---- |
---- |
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5.
Related party transactions
The company is a wholly owned subsidiary of Motionpoint Corporation, a company incorporated in the United States of America. At the year end £1 (2022: £1) remains due to the company for services provided to the immediate parent company, Motionpoint Corporation which is registered in the United States of America. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
6.
Controlling party
The company is a wholly owned subsidiary of Motionpoint Corporation, its ultimate parent. The results of the company are consolidated with its ultimate parent company. The consolidated financial statements for both of these companies are available upon request after their financial year ends from Lyons Technology Centre, 4661 Johnson Road, Suite 14, Coconut Creek, Florida 33073, USA.