Bubbleology UK-II Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09048905

Bubbleology UK-II Ltd

Filleted Unaudited Financial Statements

31 December 2024

Bubbleology UK-II Ltd

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Property, fixtures and equipment	5	245,652	305,909

Current assets

Stocks		9,054	11,772
Debtors	6	165,850	194,490
Cash at bank and in hand		9,167	13,579
		---------	---------
		184,071	219,841

Creditors: amounts falling due within one year	7	568,576	553,151
		---------	---------
Net current liabilities		384,505	333,310
		---------	---------
Total assets less current liabilities		( 138,853)	( 27,401)
		---------	--------
Net liabilities		( 138,853)	( 27,401)
		---------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 138,953)	( 27,501)
	---------	--------
Shareholders deficit	( 138,853)	( 27,401)
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

Bubbleology UK-II Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 20 August 2025 , and are signed on behalf of the board by:

Mr A Khan
Director

Company registration number: 09048905

Bubbleology UK-II Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 125 Kingsway, London, WC2B 6NH, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company benefits from financial support from other group companies and shareholder loans. The director has received assurances that such support will continue to be available and so considers it appropriate that the accounts are prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Property, fixtures and equipment

Property, fixtures and equipment are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any property, fixtures and equipment carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	20% straight line
Fixtures and fittings	-	20% straight line
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2023: 18 ).

5. Property, fixtures and equipment

	Leasehold property	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	41,785	395,066	53,967	490,818
Additions	–	1,788	–	1,788
	--------	---------	--------	---------
At 31 December 2024	41,785	396,854	53,967	492,606
	--------	---------	--------	---------
Depreciation
At 1 January 2024	31,767	124,874	28,268	184,909
Charge for the year	2,193	53,706	6,146	62,045
	--------	---------	--------	---------
At 31 December 2024	33,960	178,580	34,414	246,954
	--------	---------	--------	---------
Carrying amount
At 31 December 2024	7,825	218,274	19,553	245,652
	--------	---------	--------	---------
At 31 December 2023	10,018	270,192	25,699	305,909
	--------	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	97,401	112,419
Amounts owed by group undertakings and undertakings in which the company has a participating interest	25,989	25,989
Other debtors	42,460	56,082
	---------	---------
	165,850	194,490
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	7,378	37,162
Amounts owed to group undertakings and undertakings in which the company has a participating interest	552,811	515,878
Social security and other taxes	7,171	–
Other creditors	1,216	111
	---------	---------
	568,576	553,151
	---------	---------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Later than 1 year and not later than 5 years	329,038	447,952
	---------	---------

9. Related party transactions

The Company has taken advantage of the exemption available under paragraph 1AC.35 of FRS102 not to disclose transactions with fellow wholly-owned group companies.

10. Parent company

The company is wholly owned subsidiary of Impulse Brands Group Limited (Previously known as Boba Tea Limited), a company incorporated in England and Wales. The company is ultimately under the control of A Khan, the director and majority shareholder in Impulse Brands Group Limited (Previously known as Boba Tea Limited).