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COMPANY REGISTRATION NUMBER: 07490738

Bubbleology UK-I Ltd

Filleted Unaudited Financial Statements

31 December 2024

Bubbleology UK-I Ltd

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Intangible assets | 5 | 73,075 | 82,012
Property, fixtures and equipment | 6 | 289,320 | 230,255
| --------- | ---------
| 362,395 | 312,267

Current assets

Stocks | 15,883 | 6,742
Debtors | 7 | 2,685,061 | 2,289,785
Cash at bank and in hand | 59,504 | 71,441
| ------------ | ------------
| 2,760,448 | 2,367,968

Creditors: amounts falling due within one year | 8 | 4,163,731 | 3,747,272
| ------------ | ------------
Net current liabilities | 1,403,283 | 1,379,304
| ------------ | ------------
Total assets less current liabilities | ( 1,040,888) | ( 1,067,037)
| ------------ | ------------
Net liabilities | ( 1,040,888) | ( 1,067,037)
| ------------ | ------------

Capital and reserves

Called up share capital | 2,000 | 2,000
Share premium account | 474,785 | 474,785
Profit and loss account | ( 1,517,673) | ( 1,543,822)
| ------------ | ------------
Shareholders deficit | ( 1,040,888) | ( 1,067,037)
| ------------ | ------------

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 comprehensive income 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-I 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: 07490738

Bubbleology UK-I 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating lease commitments
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Patents and trademarks | - | 5 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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
| Plant and machinery | - | 20% straight line
| Fixtures and fittings | - | 20% straight line
| Office 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 31 (2023: 55 ).
5. Intangible assets

| Patents, trademarks and licences
| £
Cost |
At 1 January 2024 | 315,233
Additions | –
Additions from internal developments | 23,505
| ---------
At 31 December 2024 | 338,738
| ---------
Amortisation |
At 1 January 2024 | 233,221
Charge for the year | 32,442
| ---------
At 31 December 2024 | 265,663
| ---------
Carrying amount |
At 31 December 2024 | 73,075
| ---------
At 31 December 2023 | 82,012
| ---------

6. Property, fixtures and equipment

| Leasehold property | Plant and machinery | Fixtures and fittings | Computer equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 January 2024 | 379,847 | 314,031 | 730,544 | 86,570 | 1,510,992
Additions | – | 8,935 | 110,051 | 3,761 | 122,747
| --------- | --------- | --------- | -------- | ------------
At 31 December 2024 | 379,847 | 322,966 | 840,595 | 90,331 | 1,633,739
| --------- | --------- | --------- | -------- | ------------
Depreciation |  |  |  |  |
At 1 January 2024 | 364,824 | 274,610 | 590,561 | 50,742 | 1,280,737
Charge for the year | 1,438 | 14,362 | 36,624 | 11,258 | 63,682
| --------- | --------- | --------- | -------- | ------------
At 31 December 2024 | 366,262 | 288,972 | 627,185 | 62,000 | 1,344,419
| --------- | --------- | --------- | -------- | ------------
Carrying amount |  |  |  |  |
At 31 December 2024 | 13,585 | 33,994 | 213,410 | 28,331 | 289,320
| --------- | --------- | --------- | -------- | ------------
At 31 December 2023 | 15,023 | 39,421 | 139,983 | 35,828 | 230,255
| --------- | --------- | --------- | -------- | ------------

7. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 26,889 | 9,462
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 2,261,038 | 1,922,965
Other debtors | 397,134 | 357,358
| ------------ | ------------
| 2,685,061 | 2,289,785
| ------------ | ------------

8. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 616 | –
Trade creditors | 19,427 | 3,684
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 4,057,104 | 3,694,006
Social security and other taxes | 42,056 | 35,359
Other creditors | 44,528 | 14,223
| ------------ | ------------
| 4,163,731 | 3,747,272
| ------------ | ------------

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

| 2024 | 2023
| £ | £
Later than 5 years | 349,891 | 479,114
| --------- | ---------

10. 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.
11. 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).