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Registration number: 08462174

Meltdown (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Meltdown (UK) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 11

 

Meltdown (UK) Limited

Company Information

Director

M N Kubisa

Registered office

Meltdown
342 Caledonian Road
London
N1 1BB

Accountants

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Meltdown (UK) Limited

(Registration number: 08462174)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

11,844

17,783

Current assets

 

Stocks

6

4,395

2,500

Debtors

7

22,178

10,247

Cash at bank and in hand

 

6,762

3,696

 

33,335

16,443

Creditors: Amounts falling due within one year

8

(213,106)

(212,103)

Net current liabilities

 

(179,771)

(195,660)

Total assets less current liabilities

 

(167,927)

(177,877)

Creditors: Amounts falling due after more than one year

8

(22,395)

(28,862)

Net liabilities

 

(190,322)

(206,739)

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

(191,322)

(207,739)

Shareholders' deficit

 

(190,322)

(206,739)

 

Meltdown (UK) Limited

(Registration number: 08462174)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director on 24 July 2025
 

.........................................
M N Kubisa
Director

 

Meltdown (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 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:
Meltdown
342 Caledonian Road
London
N1 1BB
England

Principal activity

The principal activity of the Company is that of an E-Sports bar.

These financial statements were authorised for issue by the director on 24 July 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.

Going concern

The company has net liabilities at the balance sheet date, and the parent company is currently in liquidation. However, negotiations are under way with the liquidators to write off the intercompany loan creditor which will substantially reduce the net liabilities. The director is optimistic that an accommodation can be reached that will allow the company to continue trading in its own right. The accounts have therefore been prepared on a going concern basis.

Turnover 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.

 

Meltdown (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 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 rates prevailing on the initial transaction dates.

Tax

The tax expense for the period comprises current 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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

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

Fixtures and Fittings

15% reducing balance

Computer equipment

25% straight line

Equipment

25% straight line

Leasehold improvements

13 year depreciation

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Meltdown (UK) Limited

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

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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.

 

Meltdown (UK) Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

 

Meltdown (UK) Limited

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

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion depreciation is a significant judgement and a key sources of estimation uncertainty.

Key sources of estimation uncertainty

Depreciation. The carrying amount is £52,414 (2023 -£45,776).

4

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 6 (2023 - 6).

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

43,000

20,559

63,559

Additions

-

699

699

At 31 March 2024

43,000

21,258

64,258

Depreciation

At 1 April 2023

31,197

14,579

45,776

Charge for the year

3,307

3,331

6,638

At 31 March 2024

34,504

17,910

52,414

Carrying amount

At 31 March 2024

8,496

3,348

11,844

At 31 March 2023

11,803

5,980

17,783

6

Stocks

2024
£

2023
£

Other inventories

4,395

2,500

 

Meltdown (UK) Limited

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

7

Debtors

2024
£

2023
£

Prepayments

1,805

1,565

Other debtors

20,373

8,682

22,178

10,247

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

4,028

-

Trade creditors

 

5,410

9,404

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

12

136,569

136,569

Taxation and social security

 

28,660

27,699

Accruals and deferred income

 

32,926

38,250

Other creditors

 

5,513

181

 

213,106

212,103

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

Meltdown (UK) Limited

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

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

22,395

28,862

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,028

-

11

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil per each Ordinary share

-

-

 

 

12

Related party transactions

Summary of transactions with key management

M N Kubisa

On 15th December 2023 the company made a loan to the director of £10,000, which is interest free and repayable on demand. The balance due from the director at the balance sheet date was £9,990 (2023: The company owed the director £10).
 

Summary of transactions with parent

Meltdown International SARL
At the balance sheet date the company owed its parent company, Meltdown International SARL, £136,569 (2023: £136,569) which is interest free and repayable on demand. As disclosed in note 2 (Going Concern), Meltdown International SARL is in liquidation and there are ongoing negotiations to enable Meltdown (UK) Limited to continue trading as a stand alone company. It is hoped that as part of these negotiations this intercompany loan will be written off.

 

Meltdown (UK) Limited

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

13

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

26,000

28,000

Later than one year and not later than five years

49,863

84,000

75,863

112,000