Registration number: 11177117

Labyrinth Advisory Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

Labyrinth Advisory Limited

Company Information

Directors

R I Worthington P A Worthington M J Worthington

Company secretary

P A Worthington

Registered office

51 Sidmouth St London WC1H 8JX

Accountants

Tax Innovations Limited Innovations House 19 Staple Gardens Winchester Hampshire SO23 8SR

Labyrinth Advisory Limited

(Registration number: 11177117)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	11,096	16,263
Tangible assets	5	966	1,586
		12,062	17,849
Current assets
Stocks	6	70,000	70,000
Debtors	7	1,402,069	712,983
Cash at bank and in hand		1,957	564,765
		1,474,026	1,347,748
Creditors: Amounts falling due within one year	8	(715,125)	(649,472)
Net current assets		758,901	698,276
Net assets		770,963	716,125
Capital and reserves
Called up share capital	9	10	10
Retained earnings		770,953	716,115
Shareholders' funds		770,963	716,125

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 October 2025 and signed on its behalf by:
 

......................................... P A Worthington Company secretary and director

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
51 Sidmouth St
London
WC1H 8JX
United Kingdom

These financial statements were authorised for issue by the Board on 6 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity; and
- specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	Straight Line at 25%

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
Additions acquired separately	18,051	18,051
At 31 January 2025	18,051	18,051
Amortisation
At 1 February 2024	1,073	1,073
Amortisation charge	5,882	5,882
At 31 January 2025	6,955	6,955
Carrying amount
At 31 January 2025	11,096	11,096
At 31 January 2024	16,263	16,263

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2024	2,482	2,482
At 31 January 2025	2,482	2,482
Depreciation
At 1 February 2024	896	896
Charge for the year	620	620
At 31 January 2025	1,516	1,516
Carrying amount
At 31 January 2025	966	966
At 31 January 2024	1,586	1,586

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Stocks

	2025 £	2024 £
Work in progress	70,000	70,000

7

Debtors

Current	Note	2025 £	2024 £
Trade debtors		24,198	23,868
Amounts owed by related parties	11	1,357,332	682,036
Prepayments		32	462
Other debtors		20,507	6,617
		1,402,069	712,983

Details of non-current trade and other debtors

£1,357,332 (2024 -£682,036) of Loan due from related party is classified as non current.

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	-	35
Trade creditors		8,245	8,499
Taxation and social security		17,072	42,915
Accruals and deferred income		35,133	35,133
Other creditors		654,675	562,890
		715,125	649,472

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £0.01 each	1,000	10	1,000	10

10	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	-	35

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

11	Related party transactions

Transactions with directors

2025	At 1 February 2024 £	Other payments made to company by director £	At 31 January 2025 £
R I Worthington
Director's loan account	264,795	5,295	270,090
M J Worthington
Director's current account	298,095	86,490	384,585

2024	At 1 February 2023 £	Other payments made to company by director £	At 31 January 2024 £
R I Worthington
Director's loan account	264,795	-	264,795
M J Worthington
Director's current account	297,998	97	298,095

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	20,000	16,667

Summary of transactions with other related parties

Sevro Investments Limited
(A company with the same control)

Labyrinth Advisory Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Loans to related parties

2025	Other related parties £	Total £
At start of period	682,036	682,036
Advanced	1,222,120	1,222,120
Repaid	(650,790)	(650,790)
Interest transactions	103,966	103,966
At end of period	1,357,332	1,357,332

2024	Other related parties £	Total £
At start of period	1,040,628	1,040,628
Advanced	1,800	1,800
Repaid	(462,652)	(462,652)
Interest transactions	102,260	102,260
At end of period	682,036	682,036

Terms of loans to related parties

There are three loans included in the balance of £1,357,332. For the first loan of £88,000, the terms of the loan are 5 years fixed, from date of the fund transfer, at 4.25% per annum, interest is receivable annually in arrears unless and until otherwise agreed. For the second loan of £400,000, the terms of the loan are 5 years fixed, from date of the fund transfer, at Bank of England base rate plus 6% per annum, interest is receivable annually in arrears unless and until otherwise agreed. For the third loan of £400,000, the terms of the loan are 5 years fixed, from date of the fund transfer, at Bank of England base rate plus 6% per annum, interest is receivable annually in arrears unless and until otherwise agreed.