REGISTERED NUMBER: 12567785 (England and Wales)

ILP UK Holdings Limited

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Scott Paul Hoffman

REGISTERED OFFICE:

77 Station Raod

Petersfield

Hampshire

GU32 3FQ

REGISTERED NUMBER:

12567785 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

The Engine House

77 Station Road

Petersfield

Hampshire

GU32 3FQ

CURRENT ASSETS

Debtors

4

1,512,238

1,110,569

Cash at bank

57,474

316,197

1,569,712

1,426,766

CREDITORS

Amounts falling due within one year

5

7,154,184

5,215,198

NET CURRENT LIABILITIES

(5,584,472

)

(3,788,432

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,584,472

)

(3,788,432

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(5,584,473

)

(3,788,433

)

(5,584,472

)

(3,788,432

)

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

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

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th September 2025 and were signed by:

Scott Paul Hoffman - Director

1.	STATUTORY INFORMATION

ILP UK Holdings 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.

Turnover

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

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 plan for its employees and makes contributions towards the personal pensions of certain employees.

A defined contribution pension plan is one under which the Company pays fixed contributions to a separate entity. Once the contributions have been paid the Company has no further payment obligations.

Contributions payable are recognised as an expense in profit or loss during the reporting period in which they fall due. Amounts falling due but not paid by the balance sheet date are included within other creditors in the balance sheet.

The assets of the pension plan are held separately from the Company in independently administered funds.

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").

The functional currency of the Company and the currency in which the financial statements are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

-

26,300

Amounts owed by group undertakings

261,681

142,168

Other debtors

6,053

21,247

Prepayments and accrued income

4,628

36,847

272,362

226,562

Amounts falling due after more than one year:

Deferred Tax

1,239,876

884,007

Aggregate amounts

1,512,238

1,110,569

Amounts owed by group undertakings falling due within one year are unsecured, interest-free and repayable on demand with no fixed date for repayment.

Trade and other debtors falling due within one year are non-interest bearing and, in the opinion of the directors, of a fair value not materially different to their carrying value.

At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2023: £nil).

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

19,172

17,857

Amounts owed to group undertakings

6,988,261

5,104,807

Social security and other taxes

59,251

60,329

Other creditors

2,456

18,950

Accruals and deferred income

85,044

13,255

7,154,184

5,215,198

Amounts owed to group undertakings falling due within one year are unsecured, interest-free and repayable on demand with no fixed date for repayment.

6.	RELATED PARTY DISCLOSURES

The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings.

7.	ULTIMATE CONTROLLING PARTY

The Company's immediate parent company is FBT Holdings LLC, a company incorporated under the applicable legislature of the state of Delaware, USA, which holds an 100% interest in the total voting rights of the Company.

The parent undertaking of the smallest group to consolidate these financial statements is FBT Holdings LLC. FBT Holdings LLC is the Company's ultimate parent undertaking and whose registered business address is 630 9th Avenue, Suite 1101, New York, NY 10036.

8.	PENSION COMMITMENTS

The pension cost charge represents contributions payable by the Company towards defined contribution pension schemes and amounted to £106,980 for the year ended 31 December 2024 (2023: £99,429).