COMPANY REGISTRATION NUMBER:
14174952
|
FILLETED FINANCIAL STATEMENTS |
|
|
STATEMENT OF FINANCIAL POSITION |
|
30 September 2024
|
30 Sep 24 |
31 Mar 23 |
|
Note |
£ |
£ |
£ |
|
|
|
|
Fixed assets
|
Intangible assets |
4 |
|
6,423 |
– |
|
|
|
|
|
Current assets
|
Creditors: amounts falling due within one year |
6 |
172,450 |
|
– |
|
---------- |
|
---- |
|
Net current assets |
|
66,597 |
1 |
|
|
--------- |
---- |
|
Total assets less current liabilities |
|
73,020 |
1 |
|
|
--------- |
---- |
|
Net assets |
|
73,020 |
1 |
|
|
--------- |
---- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
1 |
1 |
|
Profit and loss account |
|
73,019 |
– |
|
|
--------- |
---- |
|
Shareholder funds |
|
73,020 |
1 |
|
|
--------- |
---- |
|
|
|
|
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.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
24 September 2025
, and are signed on behalf of the board by:
Company registration number:
14174952
|
NOTES TO THE FINANCIAL STATEMENTS |
|
PERIOD FROM 1 APRIL 2023 TO 30 SEPTEMBER 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 8th Floor, 52 Grosvenor Gardens, London, SW1W 0AU.
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's activities, together with factors likely to affect its future development, performance, and position are considered by the directors on an ongoing basis. The directors have performed stress testing of cash flow forecasts to take account of events that could impact the financial position of the company. As such, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The validity of this assumption also depends upon the continuing support of the group undertakings and on funding from other external sources. If the company were unable to continue in operational existence for the foreseeable future, adjustment would have to be made to reduce the balance sheet values of the assets to their recoverable amounts, and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Sessions Market Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: a) Disclosures in respect of each class of share capital have not been presented. b) No cash flow statement has been presented for the company. c) Disclosures in respect of financial instruments have not been presented. d) Disclosures in respect of share-based payments have not been presented. e) No disclosure has been given for the aggregate remuneration of key management personnel.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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, trademarks and licences |
- |
10% 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.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Intangible assets
|
Patents, trademarks and licences |
|
£ |
|
Cost |
|
|
Additions |
7,556 |
|
------- |
|
At 30 September 2024 |
7,556 |
|
------- |
|
Amortisation |
|
|
Charge for the period |
1,133 |
|
------- |
|
At 30 September 2024 |
1,133 |
|
------- |
|
Carrying amount |
|
|
At 30 September 2024 |
6,423 |
|
------- |
|
At 31 March 2023 |
– |
|
------- |
|
|
5.
Debtors
|
30 Sep 24 |
31 Mar 23 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
239,046 |
– |
|
Other debtors |
1 |
1 |
|
---------- |
---- |
|
239,047 |
1 |
|
---------- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
30 Sep 24 |
31 Mar 23 |
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
141,448 |
– |
|
Corporation tax |
24,340 |
– |
|
Social security and other taxes |
6,502 |
– |
|
Other creditors |
160 |
– |
|
---------- |
---- |
|
172,450 |
– |
|
---------- |
---- |
|
|
|
7.
Summary audit opinion
The auditor's report dated
24 September 2025
was
unqualified
.
The senior statutory auditor was
Christopher Kyffin-Walton FCCA
, for and on behalf of
UHY Hacker Young (S.E.) Limited
.
8.
Controlling party
The company is under the control of Sessions Brands Ltd.