Company registration number 06530396 (England and Wales)
MOTHERSHIP (LONDON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MOTHERSHIP (LONDON) LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
MOTHERSHIP (LONDON) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
29 SEPTEMBER 2024
29 September 2024
- 1 -
29 September 2024
1 October 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
53,009
61,143
Current assets
Stocks
7,243
8,524
Debtors
4
499,778
678,161
Cash at bank and in hand
2,946
110,841
509,967
797,526
Creditors: amounts falling due within one year
5
(386,777)
(261,394)
Net current assets
123,190
536,132
Total assets less current liabilities
176,199
597,275
Provisions for liabilities
(10,625)
(10,625)
Net assets
165,574
586,650
Capital and reserves
Called up share capital
4,870
4,870
Share premium account
207,315
207,315
Profit and loss reserves
(46,611)
374,465
Total equity
165,574
586,650
MOTHERSHIP (LONDON) LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
29 SEPTEMBER 2024
29 September 2024
- 2 -

For the financial period ended 29 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 August 2025 and are signed on its behalf by:
A Maddocks
P Newman
Director
Director
Company registration number 06530396 (England and Wales)
MOTHERSHIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Mothership (London) Limited is a private company limited by shares incorporated in England and Wales. The registered office is , 1-5 Curtain Road, London, EC2A 3JX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors are satisfied that the company has 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.

1.3
Turnover

Turnover is derived from the sale of food and drinks to third parties, after deducting discounts and Value added Tax. It also includes certain other services such as the provision of entertainment. Turnover from the sale of food and drink is recognised at the point of sale through electronic tills. Turnover from the provision of entertainment is recognised when the event occurs.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Over the life of the lease
Fixtures, fittings & equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

MOTHERSHIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are valued at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.

At each reporting date, an assessment is made for impairment.

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 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.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

 

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

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.

MOTHERSHIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

1.11
Retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met.  Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable.  A grant received before the recognition criteria are satisfied is recognised as a liability.

 

In the prior year, Government grants include the fair value of the income received or receivable from the furlough scheme introduced by the UK Government due to the pandemic caused by COVID-19. 

 

Income from the furlough scheme is recognised in the period the furlough income relates to and is recorded as 'other income'.

 

In addition, Government grants include the grants received from The Arts Council Cultural Recovery Fund and is recorded as 'other income'.

MOTHERSHIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 20 (2023 - 26).

2024
2023
Number
Number
Total
20
26
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 2 October 2023
143,144
178,186
321,330
Additions
-
0
7,309
7,309
At 29 September 2024
143,144
185,495
328,639
Depreciation and impairment
At 2 October 2023
133,887
126,300
260,187
Depreciation charged in the period
2,314
13,129
15,443
At 29 September 2024
136,201
139,429
275,630
Carrying amount
At 29 September 2024
6,943
46,066
53,009
At 1 October 2023
9,257
51,886
61,143
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
384,661
568,042
Other debtors
90,059
85,061
474,720
653,103
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
25,058
25,058
Total debtors
499,778
678,161
MOTHERSHIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024
4
Debtors
(Continued)
- 7 -

 

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
145
Trade creditors
302,629
176,034
Amounts owed to group undertakings
4,829
-
0
Taxation and social security
19,261
47,781
Other creditors
60,058
37,434
386,777
261,394

The company has a fixed and floating charge by way of a debenture dated 29 November 2023 over all assets in favour of Barclays Bank plc.

 

 

 

6
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
1,296,192
1,466,192
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