REGISTERED NUMBER: 13741312 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MAD STREET DEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A Chandrasekaran

REGISTERED OFFICE:

2 Churchill Court

58 Station Road

North Harrow

Middlesex

HA2 7SA

REGISTERED NUMBER:

13741312 (England and Wales)

AUDITORS:

Smartax Limited

Chartered Certified Accountants and

Statutory Auditors

38 Station Road

Harrow

Middlesex

HA2 7SE

ACCOUNTANTS:

Auctus Accountants

2 Churchill Court

58 Station Road

Harrow

HA2 7SA

CURRENT ASSETS

Debtors

4

788

35,416

Cash at bank

6,219

39,576

7,007

74,992

CREDITORS

Amounts falling due within one year

5

12,017

27,571

NET CURRENT (LIABILITIES)/ASSETS

(5,010

)

47,421

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,010

)

47,421

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(6,010

)

46,421

(5,010

)

47,421

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2025 and were signed by:

A Chandrasekaran - Director

1.	STATUTORY INFORMATION

Mad Street Den Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared in Sterling, which is the functional currency of the entity.

Going concern

As noted in the Report of the Director, the company ceased trading on 31 March 2025 and the director intends to place the company into liquidation. Accordingly, the financial statements have been prepared on a basis other than going concern.

The director has considered the impact of preparing the accounts on this basis and considers that there is no material difference between the carrying values of the company's assets and liabilities presented in these financial statements and the amounts that would be realised on liquidation.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes revenue earned from the rendering of services.

Turnover is generated from recharges to the parent company with an applied profit markup.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

-

31,574

Other debtors

788

3,842

788

35,416

Included in debtors at 31 March 2025 was an amount due from the parent company of £58,687 (2024: £31,574). The director considers that this balance is not recoverable and has therefore written it down in full

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

3,700

-

Taxation and social security

1,749

16,140

Other creditors

6,568

11,431

12,017

27,571

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S Rajan CTA FCCA ACA (Senior Statutory Auditor)

for and on behalf of Smartax Limited

Emphasis of matter – basis of preparation / financial statements prepared on a basis other than going concern

We draw attention to Note 2 to the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

7.	RELATED PARTY TRANSACTIONS

In accordance with FRS 102 paragraph 1AC.35, the company has taken advantage of the exemption from disclosing transactions with wholly owned group undertakings.

8.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no ultimate controlling party of the company.

9.	IMMEDIATE AND ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is Mad Street Den Inc., a company registered in Delaware, USA whose registered office is situated at 303, Twin Dolphin Drive, 6th floor, #14 Redwood city, CA 94065, USA.

10.	POST BALANCE SHEET EVENTS

The company bank account was closed in June 2025 and a balance of £2,470 was transferred to the parent company.