50FIVE-(UK) Limited 04169491 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of the installation of charging points for electric vehicles. Digita Accounts Production Advanced 6.30.9574.0 true true true 04169491 2024-01-01 2024-12-31 04169491 2024-12-31 04169491 bus:OrdinaryShareClass1 2024-12-31 04169491 core:CurrentFinancialInstruments 2024-12-31 04169491 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04169491 core:OtherResidualIntangibleAssets 2024-12-31 04169491 core:FurnitureFittings 2024-12-31 04169491 core:OfficeEquipment 2024-12-31 04169491 core:ParentEntities 2024-12-31 04169491 bus:SmallEntities 2024-01-01 2024-12-31 04169491 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04169491 bus:FilletedAccounts 2024-01-01 2024-12-31 04169491 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04169491 bus:RegisteredOffice 2024-01-01 2024-12-31 04169491 bus:Director2 2024-01-01 2024-12-31 04169491 bus:Director3 2024-01-01 2024-12-31 04169491 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04169491 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04169491 core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 04169491 core:FurnitureFittings 2024-01-01 2024-12-31 04169491 core:OfficeEquipment 2024-01-01 2024-12-31 04169491 core:PlantMachinery 2024-01-01 2024-12-31 04169491 core:ParentEntities 2024-01-01 2024-12-31 04169491 1 2024-01-01 2024-12-31 04169491 countries:EnglandWales 2024-01-01 2024-12-31 04169491 2023-12-31 04169491 core:FurnitureFittings 2023-12-31 04169491 core:OfficeEquipment 2023-12-31 04169491 core:ParentEntities 2023-12-31 04169491 2023-01-01 2023-12-31 04169491 2023-12-31 04169491 bus:OrdinaryShareClass1 2023-12-31 04169491 core:CurrentFinancialInstruments 2023-12-31 04169491 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04169491 core:FurnitureFittings 2023-12-31 04169491 core:OfficeEquipment 2023-12-31 04169491 core:ParentEntities 2023-12-31 04169491 core:ParentEntities 2023-01-01 2023-12-31 04169491 core:ParentEntities core:RenderingOrReceivingServices 2023-01-01 2023-12-31 04169491 2022-12-31 04169491 core:ParentEntities 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04169491

50FIVE-(UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

50FIVE-(UK) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

50FIVE-(UK) Limited

Company Information

Directors

Mr Manfred Laurence Klumpenaar

Mr Bart Antoon Maria Van der Pluym

Registered office

176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

Accountants

Thorntons
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

50FIVE-(UK) Limited

(Registration number: 04169491)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

32,260

-

Tangible assets

5

19,447

8,919

 

51,707

8,919

Current assets

 

Stocks

6

-

1,150

Debtors

7

61,448

67,642

Cash at bank and in hand

 

32,060

37,303

 

93,508

106,095

Creditors: Amounts falling due within one year

8

(487,171)

(633,258)

Net current liabilities

 

(393,663)

(527,163)

Net liabilities

 

(341,956)

(518,244)

Capital and reserves

 

Called up share capital

9

6,645,589

6,200,100

Retained earnings

(6,987,545)

(6,718,344)

Shareholders' deficit

 

(341,956)

(518,244)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

 

50FIVE-(UK) Limited

(Registration number: 04169491)
Balance Sheet as at 31 December 2024

.........................................
Mr Manfred Laurence Klumpenaar
Director

 

50FIVE-(UK) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

These financial statements were authorised for issue by the Board on 20 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors note that continued trading losses and a balance sheet deficit may cast significant doubt about the company's ability to continue as a going concern. However, the company's parent has committed to financially support the company for at least twelve months from the date of approving these accounts, and the directors are confident the company will be able to trade out of its recent difficulties. As such, the going concern basis for preparing the accounts remains appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

50FIVE-(UK) Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Plant and Machinery

33% Straight line

EV Charging Stations

10% Straight line

Intangible assets

Development costs are amortised at the rate of 20%-50% on a straight line basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

50FIVE-(UK) Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 13).

 

50FIVE-(UK) Limited

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

44,167

44,167

At 31 December 2024

44,167

44,167

Amortisation

Amortisation charge

11,907

11,907

At 31 December 2024

11,907

11,907

Carrying amount

At 31 December 2024

32,260

32,260

5

Tangible assets

EV Charging Stations
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

8,404

21,116

29,520

Additions

14,137

-

14,137

Disposals

-

(21,116)

(21,116)

At 31 December 2024

22,541

-

22,541

Depreciation

At 1 January 2024

840

19,761

20,601

Charge for the year

2,254

705

2,959

Eliminated on disposal

-

(20,466)

(20,466)

At 31 December 2024

3,094

-

3,094

Carrying amount

At 31 December 2024

19,447

-

19,447

At 31 December 2023

7,564

1,355

8,919

 

50FIVE-(UK) Limited

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

6

Stocks

2024
£

2023
£

Work in progress

-

1,150

7

Debtors

2024
£

2023
£

Trade debtors

53,355

39,823

Other debtors

6,000

10,744

Prepayments

2,093

8,171

Accrued income

-

8,904

61,448

67,642

 

50FIVE-(UK) Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

5,883

25,568

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

414,789

445,489

Taxation and social security

 

11,592

20,738

Accruals and deferred income

 

54,907

141,463

 

487,171

633,258

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

6,200,100

6,200,100

6,200,100

6,200,100

       

10

Related party transactions

Summary of transactions with parent

During the year 50five B.V. provided management services to 50Five-(UK) Limited, this amount is also included in accruals at the year end.
 

Expenditure with and payables to related parties

2024

2023

Parent
£

Rendering of services

45,263

 

50FIVE-(UK) Limited

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

Loans from related parties

2024

Parent
£

Total
£

At start of period

445,489

445,489

Advanced

414,789

414,789

Repaid

(445,489)

(445,489)

At end of period

414,789

414,789

2023

Parent
£

Total
£

At start of period

45,511

45,511

Advanced

399,978

399,978

At end of period

445,489

445,489

Cash was transferred from 50five B.V. to 50Five-(UK) Limited. The debt position from 50Five-(UK) Limited to 50five B.V. per end of year 2024 comprises of £414,789 (2023 - £445,489). The loan is repayable on demand and is subject to interest at 3%. The board of 50five B.V. has waived the interest charge of 3% for 2023 and 2022. The board of 50five B.V. approves the conversion of £414,789 from debt/cash advance to equity following the year end.

11

Parent and ultimate parent undertaking

The company's immediate parent is 50Five B.V, incorporated in Netherlands.