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REGISTERED NUMBER: 10139484 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LONDON PULSE LIMITED

LONDON PULSE LIMITED (REGISTERED NUMBER: 10139484)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LONDON PULSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: C D O Jillings
S J Pope
Ms S Bird





SECRETARY: ICM Administration Limited





REGISTERED OFFICE: Ridgecourt
The Ridge
Epsom
Surrey
KT18 7EP





REGISTERED NUMBER: 10139484 (England and Wales)





AUDITORS: Lewis Brownlee (Chichester) Limited
Statutory Auditors
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

LONDON PULSE LIMITED (REGISTERED NUMBER: 10139484)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 4,268 5,900

CURRENT ASSETS
Stocks 7,300 1,492
Debtors 5 179,601 52,019
Cash at bank 123,909 23,412
310,810 76,923
CREDITORS
Amounts falling due within one year 6 339,171 93,264
NET CURRENT LIABILITIES (28,361 ) (16,341 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,093

)

(10,441

)

CREDITORS
Amounts falling due after more than one year 7 - 551,035
NET LIABILITIES (24,093 ) (561,476 )

CAPITAL AND RESERVES
Called up share capital 1,963 1,962
Share premium 1,190,047 398,038
Capital contribution reserve - 25,965
Retained earnings (1,216,103 ) (987,441 )
(24,093 ) (561,476 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





S J Pope - Director


LONDON PULSE LIMITED (REGISTERED NUMBER: 10139484)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

London Pulse Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

Comparative period
The financial statements were prepared for a 17 month period in the comparative period, therefore the prior period balances are not comparable.

Going concern
At the year end the company had net liabilities of £24,093 (2023: £561,476) which includes a loan of £Nil (2023: £551,035) from Blue Sky Holdings Ltd, the immediate parent company.

Blue Sky Holdings Ltd has confirmed that it intends to provide financial support to enable the company to meet its liabilities as and when they fall due until at least 31 May 2026. The directors believe that Blue Sky Holdings Ltd has adequate resources to continue to provide a sufficient level of support and based on this, the provision of a letter of support and current and previous actual provision of support, therefore consider it appropriate to prepare financial statements on the going concern basis. The financial statements do not include any adjustment that would result if the going concern assumption was found to be inappropriate.

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents amounts receivable net of VAT.

Turnover from the sale of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer, 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.

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 the amount of turnover can be measured reliably and it is probable that the company will receive the consideration due under the contract.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles-20% on reducing balance
Computer equipment-25% on cost
Plant and machinery-25% on cost

LONDON PULSE LIMITED (REGISTERED NUMBER: 10139484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Grants received
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

LONDON PULSE LIMITED (REGISTERED NUMBER: 10139484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 September 2023
and 31 August 2024 1,000 6,000 3,011 10,011
DEPRECIATION
At 1 September 2023 167 2,863 1,081 4,111
Charge for year 250 629 753 1,632
At 31 August 2024 417 3,492 1,834 5,743
NET BOOK VALUE
At 31 August 2024 583 2,508 1,177 4,268
At 31 August 2023 833 3,137 1,930 5,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 146,767 24,505
Other debtors 32,834 27,514
179,601 52,019

A deferred tax asset in respect of losses carried forward of £1,208,365 (2023: 981,223) has not been recognised because, at present, it is not certain that there will be future taxable profits from which reversal of underlying losses can be deducted.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 18,421 17,780
Taxation and social security 69,925 15,439
Other creditors 250,825 60,045
339,171 93,264

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Amounts owed to group undertakings - 551,035

8. LEASING AGREEMENTS
At the balance sheet date, the company had commitments under non-cancellable operating leases totalling £667 (2023: £4,439).

LONDON PULSE LIMITED (REGISTERED NUMBER: 10139484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)
for and on behalf of Lewis Brownlee (Chichester) Limited

10. PENSION COMMITMENTS

At the balance sheet date the company had outstanding pension contributions liability of £1,279 (2023: £974).

11. POST BALANCE SHEET EVENTS

The company issued 841 ordinary shares post year end for the total consideration of £841.