REGISTERED NUMBER: 09704036 (England and Wales)

London Design Biennale Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mr B B Evans

Mr D J Goulandris

Registered office:

20-21 Bloomsbury Way

London

WC1A 2TH

Registered number:

09704036 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

-

-

Current assets

Debtors

5

302,413

442,903

Cash at bank

42,847

130,761

345,260

573,664

Creditors

Amounts falling due within one year

6

1,092,022

742,608

Net current liabilities

(746,762

)

(168,944

)

Total assets less current liabilities

(746,762

)

(168,944

)

Creditors

Amounts falling due after more than one year

7

13,833

23,519

Net liabilities

(760,595

)

(192,463

)

Capital and reserves

Called up share capital

9

100

100

Retained earnings

10

(760,695

)

(192,563

)

Shareholders' funds

(760,595

)

(192,463

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mr B B Evans - Director

1.	Statutory information

London Design Biennale Ltd 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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have received a letter of support from the group confirming their current intention to continue to support the company as and when required to enable the company to meet its liabilities as they fall due and have considered the ability of the group to provide that support. Based on these assessments, the directors have concluded that they can continue to adopt the going concern basis in the preparing these financial statements.

Turnover

Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. This includes sponsorships, grant income, as well as ticket sales and event income from the festival.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4.	Tangible fixed assets

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

41,300

28,637

Amounts owed by group undertakings

256,633

328,965

Other debtors

4,480

85,301

302,413

442,903

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts (see note 8)

9,686

9,687

Trade creditors

7,551

41,274

Amounts owed to group undertakings

722,488

580,439

Taxation and social security

98,297

80,000

Other creditors

254,000

31,208

1,092,022

742,608

7.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans (see note 8)

13,833

23,519

8.

Loans

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

9,686

9,687

Amounts falling due between one and two years:

Bank loans - 1-2 years

9,686

9,687

Amounts falling due between two and five years:

Bank loans - 2-5 years

4,147

13,832

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary shares

1

100

100

10.

Reserves

Retained

earnings

£

At 1 January 2024

(192,563

)

Deficit for the year

(568,132

)

At 31 December 2024

(760,695

)

11.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.