Chilli Tickets Limited

	Page
Company Information	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Balance Sheet	8
Statement of Changes in Equity	9
Notes to the Financial Statements	10—11

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Company No. 10709522

Directors' Report For The Year Ended 31 December 2023

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2023.

Principal Activity

The Company is now in controlled closure and the directors intend to liquidate it at some point in the future.

Review of the Business

The Company has ceased trading and is in period of controlled closure. It is the director’s intent to dissolve the Company once the closure process is complete.

Directors

The directors who held office during the year were as follows:

Mr Jegatheesan Indraprakash

Mr Aiadurai Premananthan

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments 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 directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Chilli Tickets Limited

Directors' Report (continued)

For The Year Ended 31 December 2023

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Liability Limitation Agreement with Auditor

In accordance with Section 534 of the Companies Act 2006, the company has entered into a liability limitation agreement with its external auditor, Sterling Young Limited.

The principal term of the Agreement: The auditor's liability for statutory audit work is limited to three times the audit fee, in respect of any claim arising from or in connection with the audit work.

Date of Resolution Approving the Agreement: The liability limitation agreement was approved by the Shareholder of the company on August 08, 2024, in accordance with the company’s Articles of Association and relevant provisions of the Companies Act 2006.

The limits specified above shall be the maximum amounts for which the auditor, its directors, and employees shall be liable to all persons party to this agreement, and also to any other persons with whom the auditor has agreed the limits, as may rely on the auditor’s work.

This disclosure is made in compliance with Section 534 of the Companies Act 2006, which mandates the disclosure of the terms of liability limitation agreements.

Small Company Rules

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

On behalf of the board

Mr Jegatheesan Indraprakash

Director

04/04/2025

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Independent Auditor's Report

to the Members of

Chilli Tickets Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Chilli Tickets Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to note 2 in the financial statements, which explains that the Company is in a period of controlled closure, and it is the Directors' intention to dissolve the Company once the closure process is complete. The Directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Chilli Tickets Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit, or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Chilli Tickets Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the company and the sector in which it operates to identify laws and regulations that could reasonably be expected to have a direct effect on financial statements. We obtained our understanding in this regard through discussions with management, industry research, application of cumulative audit knowledge and experience of the sector.

We determined the principal laws and regulations relevant to the company in this regard to be those arising from Companies Act 2006, relevant financial reporting standards, the Company's constitution and UK taxation legislation.

We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the company with those laws and regulations. These procedures included, but were not limited to:

- Enquiries of management;

- Review of legal correspondence; and

- Review of regulatory correspondence.

As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included but were not limited to the testing of journals; reviewing accounting estimates for evidence of bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Because of the Inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding Irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Shoolin Girishkumar Yagnik (Senior Statutory Auditor)

for and on behalf of Sterling Young Limited , Statutory Auditor

04/04/2025

Sterling Young Limited

Suite 50

238 Merton High Road

London

SW19 1AU

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Chilli Tickets Limited

Profit and Loss Account

For The Year Ended 31 December 2023

Profit and Loss Account

		2023	2022
	Notes	£	£
Administrative expenses		80,664	(52,221 )

OPERATING PROFIT/(LOSS) AND PROFIT/(LOSS) FOR THE FINANCIAL YEAR		80,664	(52,221 )

The notes on pages 10 to 11 form part of these financial statements.

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Chilli Tickets Limited

Balance Sheet

As At 31 December 2023

Balance Sheet

		2023		2022
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	5	2,248		200

		2,248		200
Creditors: Amounts Falling Due Within One Year	6	(14,623 )		(93,239 )

NET CURRENT ASSETS (LIABILITIES)			(12,375 )		(93,039 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(12,375 )		(93,039 )

NET LIABILITIES			(12,375 )		(93,039 )

CAPITAL AND RESERVES
Called up share capital	7		200		200
Profit and Loss Account			(12,575 )		(93,239 )

SHAREHOLDERS' FUNDS			(12,375)		(93,039)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Jegatheesan Indraprakash

Director

04/04/2025

The notes on pages 10 to 11 form part of these financial statements.

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Chilli Tickets Limited

Statement of Changes in Equity

For The Year Ended 31 December 2023

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2022	200	(41,018 )	(40,818)
Loss for the year and total comprehensive income	-	(52,221 )	(52,221)

As at 31 December 2022 and 1 January 2023	200	(93,239 )	(93,039)


Profit for the year and total comprehensive income	-	80,664	80,664

As at 31 December 2023	200	(12,575 )	(12,375)

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Chilli Tickets Limited

Notes to the Financial Statements

For The Year Ended 31 December 2023

Notes to the Financial Statements

1. General Information

Chilli Tickets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10709522 . The registered office is 2nd Floor, Walbrook Building, 195 Marsh Wall, London, E14 9SG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are presented in sterling which is the functional currency of the company.

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.

2.2. Going Concern Disclosure

Following the transfer of activities and assets, the Company has become inactive and it is the intention of the directors to dissolve it in the future. Accordingly, the financial statements for the year ended 31 December 2023 have been prepared on a basis other than going concern and no material adjustment across as a result of ceasing to apply the going concern basis.

2.3. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit or Loss Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.4. 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

2.5. Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Loan Reversal :

Loans that were previously recognized as liabilities and subsequently reversed due to waiver, settlement, or any other valid reason are accounted for in accordance with applicable accounting standards. The reversal is recorded under in the Statement of Profit and Loss and the amount is credited to the same income statement line where the original expense was recorded.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2022: NIL)

4. Administrative expenses

Administrative expenses include a written-off related party loan of £73,949 and expenses of £10,971 paid by a related party debtor which has been fully provided against has been partially reversed in the period as that party settle liabilities on behalf of the company, resulting in a net credit balance.

5. Debtors

	2023	2022
	£	£
Due within one year
Other debtors	2,248	200

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Chilli Tickets Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2023

6. Creditors: Amounts Falling Due Within One Year

	2023	2022
	£	£
Trade creditors	2,820	1
Amounts owed to group undertakings	1,051	75,000
Other creditors	8,350	16,850
Taxation and social security	2,402	1,388

	14,623	93,239

Amounts due to related parties are interest free and repayable on demand.

7. Share Capital

	2023	2022
	£	£
Allotted, Called up and fully paid	200	200

8. Related Party Transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. Ultimate Controlling Party

The company's immediate parent undertaking is Lyca Media II Limited, incorporated in England and Wales.The ultimate parent is WWW Holding Company Limited, incorporated in Engalnd and Wales.

10. Auditor Liability Limitation

The company has entered into a liability limitation agreement with Sterling Young Ltd, the statutory auditor, in respect of the statutory audit for the period ended 31 December 2023. The proportionate liability agreement follows the standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved by the member on 8 August 2024.

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