COMPANY REGISTRATION NUMBER:
15671720
|
Filleted Unaudited Financial Statements |
|
Period from 23 April 2024 to 1 January 2025
|
Statement of financial position |
1 |
|
|
|
Notes to the financial statements |
3 |
|
|
|
Statement of Financial Position |
|
1 January 2025
Fixed assets
|
Intangible assets |
5 |
640 |
|
Tangible assets |
6 |
11,374 |
|
-------- |
|
12,014 |
|
|
|
Current assets
|
Debtors |
7 |
14,009 |
|
Cash at bank and in hand |
74,346 |
|
-------- |
|
88,355 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
243,177 |
|
--------- |
|
Net current liabilities |
154,822 |
|
--------- |
|
Total assets less current liabilities |
(
142,808) |
|
--------- |
|
Net liabilities |
(
142,808) |
|
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
100 |
|
Profit and loss account |
(
142,908) |
|
--------- |
|
Shareholders deficit |
(
142,808) |
|
--------- |
|
|
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 1 January 2025 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 period in question in accordance with section 476
;
-
The director acknowledges his 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) |
|
1 January 2025
These financial statements were approved by the
board of directors
and authorised for issue on
29 September 2025
, and are signed on behalf of the board by:
Company registration number:
15671720
|
Notes to the Financial Statements |
|
Period from 23 April 2024 to 1 January 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Carpenter Court 1 Maple Road, Bramhall, Stockport, Cheshire, SK7 2DH, 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.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
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 are 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, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
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 |
|
|
|
|
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Intangible assets
|
Patents, trademarks and licences |
|
£ |
|
Cost |
|
|
Additions |
640 |
|
---- |
|
At 1 January 2025 |
640 |
|
---- |
|
Amortisation |
|
|
At 23 April 2024 and 1 January 2025 |
– |
|
---- |
|
Carrying amount |
|
|
At 1 January 2025 |
640 |
|
---- |
|
|
6.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 23 April 2024 |
– |
|
Additions |
11,557 |
|
-------- |
|
At 1 January 2025 |
11,557 |
|
-------- |
|
Depreciation |
|
|
At 23 April 2024 |
– |
|
Charge for the period |
183 |
|
-------- |
|
At 1 January 2025 |
183 |
|
-------- |
|
Carrying amount |
|
|
At 1 January 2025 |
11,374 |
|
-------- |
|
|
7.
Debtors
|
1 Jan 25 |
|
£ |
|
Other debtors |
14,009 |
|
-------- |
|
|
8.
Creditors:
amounts falling due within one year
|
1 Jan 25 |
|
£ |
|
Trade creditors |
36,621 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
205,661 |
|
Other creditors |
895 |
|
--------- |
|
243,177 |
|
--------- |
|
|
9.
Related party transactions
At the year end the company owed £205,661 to a company associated by common control.
10.
Controlling party
The ultimate parent company is Elysian Insurance Services Inc, a company registered in the United States of America. The registered address of the ultimate controlling party is: 4235 Hillsboro Pike, Suite 300, Nashville, TN 37215.