COMPANY REGISTRATION NUMBER:
15612956
|
Filleted Unaudited Financial Statements |
|
Period from 3 April 2024 to 31 December 2024
|
Statement of financial position |
1 |
|
|
|
Notes to the financial statements |
3 |
|
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Intangible assets |
5 |
54,601 |
|
Tangible assets |
6 |
959 |
|
-------- |
|
55,560 |
|
|
|
Current assets
|
Debtors |
7 |
2,302 |
|
Cash at bank and in hand |
98,381 |
|
--------- |
|
100,683 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
2,669 |
|
--------- |
|
Net current assets |
98,014 |
|
--------- |
|
Total assets less current liabilities |
153,574 |
|
--------- |
|
Net assets |
153,574 |
|
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
96 |
|
Share premium account |
208,284 |
|
Profit and loss account |
(
54,806) |
|
--------- |
|
Shareholders funds |
153,574 |
|
--------- |
|
|
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.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
30 September 2025
, and are signed on behalf of the board by:
Company registration number:
15612956
|
Notes to the Financial Statements |
|
Period from 3 April 2024 to 31 December 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 Suite 2a Blackthorn House, St Pauls Square, Birmingham, B3 1RL, United Kingdom.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and 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 less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
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:
|
Development costs |
- |
33% 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.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
20% straight line |
|
|
|
|
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.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
3
.
5.
Intangible assets
|
Development costs |
|
£ |
|
Cost |
|
|
Additions |
81,494 |
|
-------- |
|
At 31 December 2024 |
81,494 |
|
-------- |
|
Amortisation |
|
|
Charge for the period |
26,893 |
|
-------- |
|
At 31 December 2024 |
26,893 |
|
-------- |
|
Carrying amount |
|
|
At 31 December 2024 |
54,601 |
|
-------- |
|
|
6.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 3 April 2024 |
– |
|
Additions |
1,199 |
|
------- |
|
At 31 December 2024 |
1,199 |
|
------- |
|
Depreciation |
|
|
At 3 April 2024 |
– |
|
Charge for the period |
240 |
|
------- |
|
At 31 December 2024 |
240 |
|
------- |
|
Carrying amount |
|
|
At 31 December 2024 |
959 |
|
------- |
|
|
7.
Debtors
|
31 Dec 24 |
|
£ |
|
Other debtors |
2,302 |
|
------- |
|
|
8.
Creditors:
amounts falling due within one year
|
31 Dec 24 |
|
£ |
|
Social security and other taxes |
919 |
|
Other creditors |
1,750 |
|
------- |
|
2,669 |
|
------- |
|
|