REGISTERED NUMBER: 10360794 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Marco Polo Events Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

383,898

395,813

Tangible assets

5

8,280

14,484

392,178

410,297

CURRENT ASSETS

Stocks

138,642

138,686

Debtors

6

261,072

158,756

Cash at bank

10,486

90,688

410,200

388,130

CREDITORS

Amounts falling due within one year

7

721,799

476,550

NET CURRENT LIABILITIES

(311,599

)

(88,420

)

TOTAL ASSETS LESS CURRENT LIABILITIES

80,579

321,877

CREDITORS

Amounts falling due after more than one year

8

643,743

619,786

NET LIABILITIES

(563,164

)

(297,909

)

CAPITAL AND RESERVES

Called up share capital

35,693

35,693

Share premium

1,656,590

1,656,590

Retained earnings

(2,255,447

)

(1,990,192

)

SHAREHOLDERS' FUNDS

(563,164

)

(297,909

)

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

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

The directors acknowledge their 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr D J Moran - Director

1.	STATUTORY INFORMATION

Marco Polo Events Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10360794

Registered office:

Enigma House

High Street

Tarporley

CW6 0AT

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The directors are satisfied that the shareholders are prepared to continue to support the company for the next year.

Turnover

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

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore turnover also includes the element of work completed but not yet invoiced.

Intangible assets

UK Challenge is the amount paid in connection with the acquisition of the brand in 2016. It is the company's accounting policy not to amortise this asset as the directors are of the opinion that the cost recorded in these accounts is a true reflection of its current market value.

Website development and media, and Data and IP development costs, are amortised over their estimated useful life of 5 years, amortised on a monthly basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Office Equipment

-

20% on cost

Computer equipment

-

20% on cost

Depreciation is calculated at the headline annual rate, but is charged within the accounts on a monthly basis.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Data and

Website

UK

IP

development

Challenge

development

and media

Totals

£

£

£

£

COST

At 1 January 2024

347,500

39,000

103,996

490,496

Additions

3,782

-

-

3,782

At 31 December 2024

351,282

39,000

103,996

494,278

AMORTISATION

At 1 January 2024

-

39,000

55,683

94,683

Amortisation for year

-

-

15,697

15,697

At 31 December 2024

-

39,000

71,380

110,380

NET BOOK VALUE

At 31 December 2024

351,282

-

32,616

383,898

At 31 December 2023

347,500

-

48,313

395,813

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Office

Computer

machinery

fittings

Equipment

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

54,240

9,152

7,715

9,160

80,267

DEPRECIATION

At 1 January 2024

47,310

8,863

2,405

7,205

65,783

Charge for year

3,594

289

1,543

778

6,204

At 31 December 2024

50,904

9,152

3,948

7,983

71,987

NET BOOK VALUE

At 31 December 2024

3,336

-

3,767

1,177

8,280

At 31 December 2023

6,930

289

5,310

1,955

14,484

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

189,546

81,698

Other debtors

71,526

77,058

261,072

158,756

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,648

10,207

Trade creditors

114,169

25,114

Taxation and social security

251,036

130,989

Other creditors

345,946

310,240

721,799

476,550

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,993

13,036

Amounts owed to group undertakings

400,000

368,000

Other creditors

238,750

238,750

643,743

619,786

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount owed by Mr D Moran was repaid within 9 months of the year end.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Enigma Holdings Limited.

The ultimate controlling party is Mr P George.