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Company No: 13231491 (England and Wales)

WEST 28TH STREET LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

WEST 28TH STREET LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

WEST 28TH STREET LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2025
WEST 28TH STREET LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
Director Mr Kenneth Arnold
Registered office 124 City Road
EC1V 2NX
London
United Kingdom
Company number 13231491 (England and Wales)
Chartered accountants Kreston Reeves LLP
2nd Floor
168 Shoreditch High Street
London
E1 6RA
United Kingdom
WEST 28TH STREET LIMITED

BALANCE SHEET

As at 31 March 2025
WEST 28TH STREET LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Investments 3 401 400
401 400
Current assets
Stocks 4 2,708,782 600
Debtors 5 5,590 13,041
Cash at bank and in hand 6 101,385 5,802
2,815,757 19,443
Creditors: amounts falling due within one year 7 ( 2,832,574) ( 8,709)
Net current (liabilities)/assets (16,817) 10,734
Total assets less current liabilities (16,416) 11,134
Net (liabilities)/assets ( 16,416) 11,134
Capital and reserves
Called-up share capital 200 200
Profit and loss account ( 16,616 ) 10,934
Total shareholders' (deficit)/funds ( 16,416) 11,134

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of West 28th Street Limited (registered number: 13231491) were approved and authorised for issue by the Director on 26 June 2025. They were signed on its behalf by:

Mr Kenneth Arnold
Director
WEST 28TH STREET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
WEST 28TH STREET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

West 28th Street Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 124 City Road, EC1V 2NX, London, United Kingdom. The principal Activity of the company is that of financial services.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue is recognised in the period in which the claim is realized and when the significant risks and rewards of ownership have been substantially transferred.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is based on the cost of purchase including any claim costs.

At each reporting date, an assessment is made for impairment of the stock portfolio as a whole. Any excess of the carrying amount of stocks over its estimated realization is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 amortised 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 amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2025 2024
Number Number
Director 1 1

3. Fixed asset investments

Investments in subsidiaries

2025
£
Cost
At 01 April 2024 400
Additions 1
At 31 March 2025 401
Carrying value at 31 March 2025 401
Carrying value at 31 March 2024 400

4. Stocks

2025 2024
£ £
Stocks 2,708,782 600

5. Debtors

2025 2024
£ £
Deferred tax asset 5,590 13,041

6. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 101,385 5,802

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 5,362 0
Other loans 2,822,412 0
Accruals 4,800 8,709
2,832,574 8,709

8. Deferred tax

2025 2024
£ £
At the beginning of financial year 13,041 0
(Charged)/credited to the Profit and Loss Account ( 7,451) 13,041
At the end of financial year 5,590 13,041

The deferred taxation balance is made up as follows:

2025 2024
£ £
Tax losses carry forward 5,590 13,041

9. Related party transactions

During the year, the company paid expenses of £83 (2024: £120,604) to Limelight Solutions Limited and Bleeker Street Communications Limited who each are shareholders in the company.

10. Ultimate controlling party

The company is controlled by Limelight Solutions Limited and West 13th Street Limited, who each own 50% of the issued share capital.