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Registration number: 04990527

Nine Feet Tall Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Nine Feet Tall Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Nine Feet Tall Limited

(Registration number: 04990527)
Balance Sheet as at 31 December 2024

Note

2024
£

Unaudited
2023
£

Fixed assets

 

Tangible assets

4

17,161

47,770

Current assets

 

Debtors

5

1,584,583

1,395,334

Cash at bank and in hand

 

2,413,608

1,055,136

 

3,998,191

2,450,470

Creditors: Amounts falling due within one year

6

(1,639,945)

(876,542)

Net current assets

 

2,358,246

1,573,928

Total assets less current liabilities

 

2,375,407

1,621,698

Provisions for liabilities

73,573

-

Net assets

 

2,448,980

1,621,698

Capital and reserves

 

Called up share capital

7

2

1

Share premium reserve

108,594

-

Retained earnings

2,340,384

1,621,697

Shareholders' funds

 

2,448,980

1,621,698

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 7 March 2025 and signed on its behalf by:
 

E McMorris
Director

   
     
 

Nine Feet Tall Limited

Notes to the 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:
Northgate House
Upper Borough Walls
Bath
BA1 1RG
England

These financial statements were authorised for issue by the Board on 7 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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 10 March 2025 was Tim Lerwill BSc BFP FCA, who signed for and on behalf of ML Audit LLP.

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.

 

Nine Feet Tall Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Straight line 33%

Fixtures & Fittings

Straight line 20%

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.

 

Nine Feet Tall Limited

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

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity
receives services from employees as consideration for equity instruments (options) of the entity. The
fair value of the employee services received is measured by reference to the estimated fair value at
the grant date of equity instruments granted and is recognised as an expense over the vesting period.
The total amount expensed is recognised over the vesting period, which is the period over which all of
the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital
(nominal value) and share premium when the options are exercised.

 

Nine Feet Tall Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 49 (2023 - 44).

4

Tangible assets

Furniture, fittings and equipment
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

2,441

225,194

227,635

At 31 December 2024

2,441

225,194

227,635

Depreciation

At 1 January 2024

2,406

177,459

179,865

Charge for the year

20

30,589

30,609

At 31 December 2024

2,426

208,048

210,474

Carrying amount

At 31 December 2024

15

17,146

17,161

At 31 December 2023

35

47,735

47,770

5

Debtors

Note

2024
£

Unaudited
2023
£

Trade debtors

 

1,317,361

1,353,737

Other debtors

 

2,850

5,110

Prepayments

 

26,733

36,487

Accrued income

 

49,379

-

Corporation tax asset

188,260

-

 

1,584,583

1,395,334

 

Nine Feet Tall Limited

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

6

Creditors

Due within one year

Note

2024
£

Unaudited
2023
£

 

Trade creditors

 

36,334

27,967

Social security and other taxes

 

479,295

375,051

Other creditors

 

4,067

21,392

Accruals

 

1,120,249

263,872

Corporation tax liability

-

188,260

 

1,639,945

876,542

7

Share capital

Allotted, called up and fully paid shares

2024

Unaudited
2023

No.

£

No.

£

Ordinary shares of £0.001 each

1,507

2

1,168

1

       

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

Unaudited
2023
£

Not later than one year

16,464

27,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £27,000 (2023 - £27,000).

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

Unaudited
2023
£

Remuneration

258,302

266,716

 

Nine Feet Tall Limited

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

Loans to related parties

2024

Key management
£

Total
£

Advanced

36,867

36,867

Repaid

(34,017)

(34,017)

At end of period

2,850

2,850

10

Parent and ultimate parent undertaking

There is no ultimate controlling party of Nine Feet Tall Limited.

 The company's immediate parent is Talan Holding SAS, incorporated in France.

 The most senior parent entity producing publicly available financial statements is Talan Holding SAS. These financial statements are available upon request from Rue Pergolese 14-20, 705016 Paris France