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Company No: 10514393 (England and Wales)

# LIGHT FACTORY ASSET MANAGEMENT LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

LIGHT FACTORY ASSET MANAGEMENT LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

LIGHT FACTORY ASSET MANAGEMENT LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2024
LIGHT FACTORY ASSET MANAGEMENT LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

DIRECTORS | S Grattieri
| W Johnson Mota

REGISTERED OFFICE | 2 Leman Street
| London
| E1W 9US
| United Kingdom

COMPANY NUMBER | 10514393 (England and Wales)

ACCOUNTANT | Gravita Business Services II Limited
| Aldgate Tower
| 2 Leman Street
| London
| E1 8FA
| United Kingdom

LIGHT FACTORY ASSET MANAGEMENT LIMITED

## BALANCE SHEET

As at 31 December 2024
LIGHT FACTORY ASSET MANAGEMENT LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 200 |  | 200
|  | 200 |  | 200
Current assets |  |  |  |
Debtors | 4 | 389,019 |  | 397,331
Cash at bank and in hand |  | 43 |  | 54
|  | 389,062 |  | 397,385
Creditors: amounts falling due within one year | 5 | ( 478,684) |  | ( 451,611)
Net current liabilities |  | (89,622) |  | (54,226)
Total assets less current liabilities |  | (89,422) |  | (54,026)
Net liabilities |  | ( 89,422) |  | ( 54,026)
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | ( 89,522 ) |  | ( 54,126 )
Total shareholders' deficit |  | ( 89,422) |  | ( 54,026)

For the financial year 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 financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Light Factory Asset Management Limited (registered number: 10514393) were approved and authorised for issue by the Board of Directors on 17 October 2025. They were signed on its behalf by:

W Johnson Mota Director |

LIGHT FACTORY ASSET MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
LIGHT FACTORY ASSET MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Light Factory Asset Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

Total liabilities exceed current assets at the balance sheet date. The directors consider, however that the company has sufficient liquid assets to meet its liabilities as and when they fall due and that the company has sufficient support from its directors, shareholders, and creditors. Accordingly the directors consider that it is appropriate to prepare the account on a going concern.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

##### Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Fixed asset investments

Investments in subsidiaries

| 2024
| £
Cost |
At 01 January 2024 | 200
At 31 December 2024 | 200
Carrying value at 31 December 2024 | 200
Carrying value at 31 December 2023 | 200

#### 4. Debtors

| 2024 |  | 2023
| £ |  | £
Amounts owed by own subsidiaries | 389,019 |  | 397,331

#### 5. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Other creditors | 478,684 |  | 451,611

#### 6. Related party transactions

At the year end, the company was owed £389,119 (2023: £397,431) by B-Hive Living Limited, a fully owned subsidiary. Interest is charged at a rate of 3% per annum, and the loan is repayable on demand. Interest of £11,624 (2023: £9,746) was charged during the year.
At the year end, the company owed £100 (2023: £100) to B-Hive Investment and Management Services Limited, a fully owned subsidiary.
At the year end, the company owed the directors £477,483 (2023: £450,411). Interest is charged at a rate of 9% per annum, and the loan is repayable on demand. Interest of £39,957 (2023: £31,890) was charged during the year.