Company No: 04614009 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	667		287
Investments	4	0		41,408
		667		41,695
Current assets
Debtors	5	15,598		25,506
Cash at bank and in hand		82,236		70,771
		97,834		96,277
Creditors: amounts falling due within one year	6	( 9,356)		( 18,081)
Net current assets		88,478		78,196
Total assets less current liabilities		89,145		119,891
Net assets		89,145		119,891
Capital and reserves
Called-up share capital		110		110
Fair value reserve		0		( 1,754 )
Profit and loss account		89,035		121,535
Total shareholders' funds		89,145		119,891

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The One Reluctant Lemming Company Limited (registered number: 04614009) were approved and authorised for issue by the Board of Directors on 19 September 2025. They were signed on its behalf by:

T C L Holt Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The One Reluctant Lemming Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

This is the first year in which the financial statements have been prepared in accordance with FRS102 Section 1A. The prior year figures were restated to include a fair value reserve for the movement in the fair value of fixed asset investments.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of royalties receivable, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Office equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery		Office equipment		Total
	£		£		£
Cost
At 01 April 2024	1,336		17,592		18,928
Additions	0		554		554
At 31 March 2025	1,336		18,146		19,482
Accumulated depreciation
At 01 April 2024	1,336		17,305		18,641
Charge for the financial year	0		174		174
At 31 March 2025	1,336		17,479		18,815
Net book value
At 31 March 2025	0		667		667
At 31 March 2024	0		287		287

4. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	41,408		41,408
Disposals	( 41,408)		( 41,408)
At 31 March 2025	0		0
Carrying value at 31 March 2025	0		0
Carrying value at 31 March 2024	41,408		41,408

5. Debtors

	2025		2024
	£		£
Amounts owed by directors	14,699		24,958
Other debtors	899		548
	15,598		25,506

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	197		112
Accruals	2,191		2,095
Corporation tax	6,968		15,874
	9,356		18,081

7. Related party transactions

Transactions with the entity's directors

Advances

The joint Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 per director at the official HMRC rates.

At 1 April 2024, the balance owed by the directors was £24,958. During the year, the company made advances to the directors amounting to £42,033 and received repayments of £52,292, leaving a balance due by the directors of £14,699

At 1 April 2023, the balance owed by the directors was £24,709. During the year, the company made advances to the directors amounting to £45,061 and received repayments of £44,812, leaving a balance due by the directors of £24,958.