Company No: 04637613 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	5	36,122		37,275
		36,122		37,275
Current assets
Stocks	6	351,120		162,578
Debtors	7	102,481		254,495
Cash at bank and in hand		315		238
		453,916		417,311
Creditors: amounts falling due within one year	8	( 132,080)		( 106,055)
Net current assets		321,836		311,256
Total assets less current liabilities		357,958		348,531
Creditors: amounts falling due after more than one year	9	( 20,881)		( 14,810)
Provision for liabilities		( 8,214)		( 7,018)
Net assets		328,863		326,703
Capital and reserves
Called-up share capital	10	200		200
Profit and loss account		328,663		326,503
Total shareholders' funds		328,863		326,703

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.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Namesakes Global Limited (registered number: 04637613) were approved and authorised for issue by the Director on 30 September 2025. They were signed on its behalf by:

Mr J F Bromley 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

Namesakes Global 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 Unit 4 Yalberton Tor Industrial Estate, Alders Way, Paignton, TQ4 7QN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the value of goods and services provided to date can be reliably measured.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

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 basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Plant and machinery	4 years straight line
Fixtures and fittings	4 years straight line
Office 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.

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 Profit and Loss Account 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

During the year, the company identified an error in the financial statements for the year ended 31 December 2023. This error has been corrected by restating the comparative amounts presented in these financial statements. The impact of the restatement is as follows:

		As previously reported		Adjustment		As restated
Year ended 31 December 2023		£		£		£
Profit and Loss account		350,270		(23,767)		326,503
		0		0		0

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	4		4

4. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	50,000		50,000
At 31 December 2024	50,000		50,000
Accumulated amortisation
At 01 January 2024	50,000		50,000
At 31 December 2024	50,000		50,000
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

5. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	17,541		70,747		3,216		23,950		115,454
Additions	0		33,536		0		524		34,060
Disposals	0		( 29,250)		0		0		( 29,250)
At 31 December 2024	17,541		75,033		3,216		24,474		120,264
Accumulated depreciation
At 01 January 2024	11,514		40,557		3,216		22,892		78,179
Charge for the financial year	1,394		11,177		0		705		13,276
Disposals	0		( 7,313)		0		0		( 7,313)
At 31 December 2024	12,908		44,421		3,216		23,597		84,142
Net book value
At 31 December 2024	4,633		30,612		0		877		36,122
At 31 December 2023	6,027		30,190		0		1,058		37,275

6. Stocks

	2024		2023
	£		£
Stocks	351,120		162,578

7. Debtors

	2024		2023
	£		£
Trade debtors	26,186		84,326
Corporation tax	4,517		570
Other debtors	71,778		169,599
	102,481		254,495

8. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	44,131		10,786
Trade creditors	7,862		41,333
Other taxation and social security	20,725		22,143
Obligations under finance leases and hire purchase contracts	8,997		28,285
Other creditors	50,365		3,508
	132,080		106,055

Hire Purchase borrowings are secured on the individual assets taken out on hire purchase.

9. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	4,416		14,810
Obligations under finance leases and hire purchase contracts	16,465		0
	20,881		14,810

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100
100 Ordinary A shares of £ 1.00 each	100		100
	200		200