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REGISTERED NUMBER: 11547503 (England and Wales)



















Financial Statements

for the Year Ended 31st December 2024

for

UNDERGROUND ECOM LTD

UNDERGROUND ECOM LTD (REGISTERED NUMBER: 11547503)






Contents of the Financial Statements
for the year ended 31st December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


UNDERGROUND ECOM LTD

Company Information
for the year ended 31st December 2024







DIRECTORS: J P Matthewman
C S J Lewcock
J F Watkins
J M Williams
S G S Sutton



REGISTERED OFFICE: 103 Farringdon Road
London
EC1R 3BS



REGISTERED NUMBER: 11547503 (England and Wales)



SENIOR STATUTORY AUDITOR: Patrick duCassé



AUDITORS: TC Group
Statutory Auditor
Office: Croydon - TC SWP
3rd Floor, Suffolk House
George Street
Croydon
CR0 0YN

UNDERGROUND ECOM LTD (REGISTERED NUMBER: 11547503)

Statement of Financial Position
31st December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,433 7,673

CURRENT ASSETS
Debtors 5 522,688 161,767
Cash at bank 804,509 1,330,910
1,327,197 1,492,677
CREDITORS
Amounts falling due within one year 6 424,162 811,357
NET CURRENT ASSETS 903,035 681,320
TOTAL ASSETS LESS CURRENT LIABILITIES 911,468 688,993

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 910,468 687,993
SHAREHOLDERS' FUNDS 911,468 688,993

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th May 2025 and were signed on its behalf by:





S G S Sutton - Director


UNDERGROUND ECOM LTD (REGISTERED NUMBER: 11547503)

Notes to the Financial Statements
for the year ended 31st December 2024

1. STATUTORY INFORMATION

Underground Ecom Ltd 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 have been prepared in British Pound Sterling, the functional currency of the company, and monetary amounts in these financial statements have been rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of marketing services.

Turnover from a contract to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

-the amount of turnover can be measure reliably
-it is probable that the company will receive the consideration due under the contract; and
-the stage of completion of the service at the end of the reporting period can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Fixtures and fittings - 20% straight line
Computer equipment - 20% straight line

The assets' residual value, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in the Statement of Comprehensive Income.

UNDERGROUND ECOM LTD (REGISTERED NUMBER: 11547503)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the Statement of Financial Position date.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

UNDERGROUND ECOM LTD (REGISTERED NUMBER: 11547503)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2024 1,476 9,693 11,169
Additions - 3,457 3,457
At 31st December 2024 1,476 13,150 14,626
DEPRECIATION
At 1st January 2024 1,092 2,404 3,496
Charge for year 295 2,402 2,697
At 31st December 2024 1,387 4,806 6,193
NET BOOK VALUE
At 31st December 2024 89 8,344 8,433
At 31st December 2023 384 7,289 7,673

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 195,556 156,364
Amounts owed by group undertakings 312,265 -
Other debtors 7,341 4,755
Directors' current accounts - 648
Prepayments and accrued income 7,526 -
522,688 161,767

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 10,669 12,302
Amounts owed to group undertakings - 544,545
Tax 178,116 98,596
Social security and other taxes 24,567 30,057
VAT 85,765 47,901
Other creditors 5,929 5,716
Accruals and deferred income 119,116 72,240
424,162 811,357

UNDERGROUND ECOM LTD (REGISTERED NUMBER: 11547503)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1,000 Ordinary 0.001 1,000 1,000

8. AUDITOR'S INFORMATION

The audit report provided to the members of Underground Ecom Ltd on the financial statements for the year ended 31st December 2024 was not qualified.

The audit report was signed by Patrick duCassé (Senior Statutory Auditor) for and on behalf of Simpson Wreford & Partners, Chartered Accountants and Statutory Auditor.

9. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Supergroup Performance Ltd, registered in England and Wales.

Supergroup Performance Ltd prepares consolidated financial statements and copies can be obtained from the company's registered office at 103 Farringdon Road, London, EC1R 3BS.