Registration number: 04999527

U2 Events Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

U2 Events Limited

(Registration number: 04999527)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	84,337	127,827
Current assets
Debtors	6	206,171	16,769
Cash at bank and in hand		78,777	57,173
		284,948	73,942
Creditors: Amounts falling due within one year	7	(125,906)	(91,525)
Net current assets/(liabilities)		159,042	(17,583)
Total assets less current liabilities		243,379	110,244
Creditors: Amounts falling due after more than one year	7	(137)	(9,807)
Net assets		243,242	100,437
Capital and reserves
Called up share capital	8	1	1
Retained earnings		243,241	100,436
Shareholders' funds		243,242	100,437

For the financial 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 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 September 2025
 

......................................... GW Buckingham Director

U2 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Deerswood House
Beacon Road
Crowborough
East Sussex
TN6 1UD

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.

The financial statements are presented in Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the value of services supplied by the company, net of Value Added Tax and trade discounts. Revenue is recognised in the accounts on the basis of the degree of completion of the services provided.

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 rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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.

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 accounts. 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.

U2 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per annum of cost
Motor vehicles	25% per annum of cost
Buildings	10% per annum of cost

Leases

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals under operating leases are charged to profit and loss on a straight line basis over the life of the lease.

Defined contribution pension obligation

The company contributes to defined contribution pension schemes on behalf of its staff. Employer contributions are expended to profit and loss.

Financial instruments

Classification
Financial instruments are classified on initial recognition as either basic or more complex under sections 11 and 12 of FRS 102. To date, the company has only entered into transactions involving basic financial instruments.
 Recognition and measurement
Financial assets are initially measured at cost (including transaction costs) and are subsequently measured at cost less impairment.

Financial liabilities are initially recognised at the proceeds of the loan less separately incurred transaction costs. Subsequently, loans received are measured at amortised cost using the effective interest method.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4	Profit before tax

Arrived at after charging/(crediting)

U2 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Profit before tax (continued)

	2024 £	2023 £
Depreciation expense	36,388	38,771

5	Tangible assets

	Land and buildings £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	90,327	107,005	179,634	376,966
Additions	-	17,200	9,501	26,701
Disposals	(31,658)	(40,495)	(23,246)	(95,399)
At 31 December 2024	58,669	83,710	165,889	308,268
Depreciation
At 1 January 2024	14,900	71,676	162,563	249,139
Charge for the year	9,033	20,006	7,349	36,388
Eliminated on disposal	(6,332)	(32,018)	(23,246)	(61,596)
At 31 December 2024	17,601	59,664	146,666	223,931
Carrying amount
At 31 December 2024	41,068	24,046	19,223	84,337
At 31 December 2023	75,427	35,329	17,071	127,827

Included within the net book value of land and buildings above is £41,068 (2023 - £75,427) in respect of freehold land and buildings.
 

6

Debtors

Current	2024 £	2023 £
Trade debtors	3,247	-
Prepayments	47,879	8,019
Other debtors	155,045	8,750
	206,171	16,769

U2 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	11,716	11,716
Trade creditors		6,422	15,139
Taxation and social security		101,573	58,526
Accruals and deferred income		1,497	1,429
Other creditors		4,698	4,715
		125,906	91,525

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	137	9,807

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £0.01 each	85	1	85	1
B Ordinary shares of £0.01 each	15	-	15	-
	100	1	100	1

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	137	9,807

U2 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Loans and borrowings (continued)

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	11,716	11,716

10	Financial commitments

Amounts not provided for in the balance sheet

At 31 December 2024 the company had total commitments under non-cancellable operating leases over the remaining life of the leases of £35,000 (2023 - £70,000).

U2 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11	Related party transactions

Transactions with the director

2024	At 1 January 2024 £	Advances to director £	At 31 December 2024 £
GW Buckingham
Loan	-	61,358	61,358

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	10,284	10,284
Contributions paid to money purchase schemes	60,000	60,000
	70,284	70,284

Other transactions with the director

The director's loan was overdrawn by £61,358 at the year-end date and it was repaid on 6 April 2025, which is within 9 months of the year-end date.

Loans to related parties

2024	Other related parties £	Total £
Advanced	61,357	61,357
At end of period	61,357	61,357

Terms of loans to related parties

The related party's loan was overdrawn by £61,357 at the year-end date and it was repaid on 6 April 2025, which is within 9 monhts of the year-end date.