Company No: 09110284 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	R R Acuna (Appointed 01 June 2024)
	V P Blockley
	M J Mccune

Registered office	6th Floor One London Wall
	London
	EC2Y 5EB
	United Kingdom

Company number

09110284 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 1218 UK Limited for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that 1218 UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 1218 UK Limited. You consider that 1218 UK Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of 1218 UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of 1218 UK Limited, as a body, in accordance with the terms of our engagement letter dated 23 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of 1218 UK Limited and state those matters that we have agreed to state to the Board of Directors of 1218 UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1218 UK Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

2nd Floor
168 Shoreditch High Street
London
E1 6RA

23 September 2025

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	9,762		10,434
		9,762		10,434
Current assets
Debtors	4	457,912		406,451
Cash at bank and in hand		227,672		208,177
		685,584		614,628
Creditors: amounts falling due within one year	5	( 550,059)		( 454,177)
Net current assets		135,525		160,451
Total assets less current liabilities		145,287		170,885
Net assets		145,287		170,885
Capital and reserves
Called-up share capital	6	1		1
Profit and loss account		145,286		170,884
Total shareholder's funds		145,287		170,885

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.

Directors' responsibilities:

• The member has 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 Statement of Comprehensive Income has not been delivered.

The financial statements of 1218 UK Limited (registered number: 09110284) were approved and authorised for issue by the Board of Directors on 23 September 2025. They were signed on its behalf by:

V P Blockley 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

1218 UK 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 6th Floor One London Wall, London, EC2Y 5EB, 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.

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 Statement of Comprehensive Income 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

Other property, plant and equipment

4 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	16		17

3. Tangible assets

	Other property, plant and equipment		Total
	£		£
Cost
At 01 January 2024	23,167		23,167
Additions	3,706		3,706
At 31 December 2024	26,873		26,873
Accumulated depreciation
At 01 January 2024	12,733		12,733
Charge for the financial year	4,378		4,378
At 31 December 2024	17,111		17,111
Net book value
At 31 December 2024	9,762		9,762
At 31 December 2023	10,434		10,434

4. Debtors

	2024		2023
	£		£
Trade debtors	195,683		128,778
Amounts owed by Group undertakings	186,018		230,658
Corporation tax	5,796		0
Other debtors	70,415		47,015
	457,912		406,451

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	141,320		108,774
Corporation tax	0		5,796
Other taxation and social security	91,498		112,311
Other creditors	317,241		227,296
	550,059		454,177

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each	1		1

7. Financial commitments

Pensions

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £47,186 (2023: £45,139). Contributions totalling £Nil (2023: £151 ) were payable to the fund at 31 December 2024 and are included in other creditors.

8. Related party transactions

As at the balance sheet date, the company was owed £186,018 (2023: owed £230,658) by 1218, Inc, the parent undertaking. This amount is included within Note 4 'Amounts owed by group undertakings'. The balance is non interest bearing and is repayable on demand.

9. Reserves

Profit and loss account

The profit and loss account comprises all current and prior period retained profits and losses.

Share capital

This represents the nominal value of shares that have been issued by the company.

10. Ultimate controlling party

The company is under the control of its parent company, 1218, Inc., a company incorporated in the United States of America.