REGISTERED NUMBER: 13862012 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PRIVATE LUXURY EVENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J P Gould

REGISTERED OFFICE:

First Floor, 5-7 Marshalsea Road

London

SE1 1EP

REGISTERED NUMBER:

13862012 (England and Wales)

AUDITORS:

Hartley Fowler LLP

Statutory Auditors

Chartered Accountants

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

CURRENT ASSETS

Debtors

4

27

24

Cash at bank

2,472

5,828

2,499

5,852

CREDITORS

Amounts falling due within one year

5

1,800,364

1,796,166

NET CURRENT LIABILITIES

(1,797,865

)

(1,790,314

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,797,865

)

(1,790,314

)

CAPITAL AND RESERVES

Called up share capital

6

18

18

Retained earnings

(1,797,883

)

(1,790,332

)

SHAREHOLDERS' FUNDS

(1,797,865

)

(1,790,314

)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2025 and were signed by:

J P Gould - Director

1.	STATUTORY INFORMATION

Private Luxury Events Ltd is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

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.

Significant judgements and estimates

In the application of the company's accounting policies, which are described below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based in historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both the current and future periods.

The areas for which estimation has been applied are considered to be in calculating depreciation and the useful economic lives of assets, and accrued expenditure. Although these areas are subject to judgement, they are not considered to be subject to significant estimation.

Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows:

Plant & Machinery - 3 year Straight Line

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 currency transactions

Foreign currency transactions are translated into sterling at the rates of exchange ruling at the dates on which the transactions occur. All monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange at the balance sheet date. Gains and losses arising from foreign currency translations are taken to the profit and loss account for the year.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged cancelled or expires.

Going concern

The financial statements have been prepared on a going concern basis. The company has incurred losses in previous financial years and has net liabilities at year end. The company is dependent on the continued financial support provided by related party loans to enable it to meet its liabilities as they fall due. The key related party loan balances are owed to the major shareholders and directors of the parent company, Worldwide Events Group Ltd who have affirmed their intention to provide financial support for the next 12 months and beyond. In these circumstances, the Director is satisfied that the going concern basis of preparing the financial statements is appropriate.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Other debtors

27

24

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Amounts owed to group undertakings

557,923

29,739

Other creditors

1,242,441

1,766,427

1,800,364

1,796,166

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

18,000

Ordinary

£0.00

1

18

18

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

The Report of the Auditors was unqualified.

Guy Rolliston (Senior Statutory Auditor)

for and on behalf of Hartley Fowler LLP

8.	RELATED PARTY DISCLOSURES

Included in creditors due within one year is an amount due to the directors of the parent company, Worldwide Events Group Ltd, of £1,235,541 (2023:£1,766,427).

9.	ULTIMATE CONTROLLING PARTY

At the balance sheet date JP Gould was the ultimate controlling party.

THE ULTIMATE PARENT COMPANY

The ultimate parent company is Worldwide Events Group Limited, registered in England and Wales. The smallest and largest group in which the Company accounts are consolidated is that of Worldwide Events Group Limited, the consolidated company accounts are available from First Floor, 5-7 Marshalsea Road,London, SE1 1EP.