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CUP NOW UK LTD

Registered Number
SC780153
(Scotland)

Unaudited Financial Statements for the Period ended
31 December 2024

CUP NOW UK LTD
Company Information
for the period from 23 August 2023 to 31 December 2024

Director

ATWAL, Harjinder Singh

Registered Address

First Floor
108 George Street
Edinburgh
EH2 4LH

Registered Number

SC780153 (Scotland)
CUP NOW UK LTD
Balance Sheet as at
31 December 2024

Notes

2024

£

£

Fixed assets
Intangible assets3312,019
312,019
Current assets
Debtors4100
Cash at bank and on hand640
740
Creditors amounts falling due within one year5(335,306)
Net current assets (liabilities)(334,566)
Total assets less current liabilities(22,547)
Net assets(22,547)
Capital and reserves
Called up share capital100
Profit and loss account(22,647)
Shareholders' funds(22,547)
The financial statements were approved and authorised for issue by the Director on 22 May 2025, and are signed on its behalf by:
ATWAL, Harjinder Singh
Director
Registered Company No. SC780153
CUP NOW UK LTD
Notes to the Financial Statements
for the period ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Franchise fees are amortised over a period of 15 years.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized. Classification of financial liabilities 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 company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2024
Average number of employees during the year1
3.Intangible assets

Other

Total

££
Cost or valuation
Additions334,306334,306
At 31 December 24334,306334,306
Amortisation and impairment
Charge for year22,28722,287
At 31 December 2422,28722,287
Net book value
At 31 December 24312,019312,019
At 22 August 23--
4.Debtors: amounts due within one year

2024

£
Amounts owed by group undertakings100
Total100
5.Creditors: amounts due within one year

2024

£
Amounts owed to related parties19,000
Other creditors315,956
Accrued liabilities and deferred income350
Total335,306
6.Related party transactions
Included in other creditors due within 12 months is the amount due to the director H Atwal £315,956
7.Further information regarding the company's financial position
Parent company: The Ultimate parent company is Icon Brands (Global) Ltd, a company registered in England and Wales. It's registered office address is First Floor, 108 George Street, Edinburgh, Midlothian, EH2 4LH
8.Change in reporting period and impact on comparability
Reporting period This is the first time the company has presented its financial statements since its incorporation. Hence, the financial statements presented are for the period of more than twelve months with no comparatives.