FKP Scorpio UK Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

FKP Scorpio UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11404194 . The registered office is Ground Floor, 66-68 Pentonville Road, London, N1 9HS. The parent undertaking of the smallest group for which the consolidated financial statements are drawn up at the statement of financial position date is CTS Eventim AG & Co. KGaA. The registered address is Rablstr. 26, 81669 Munich, Germany.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at annual rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	20% on cost
Computer Equipment	20% on cost

2.4. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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.

...CONTINUED

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FKP Scorpio UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Financial Instruments - continued

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.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

2.8. Cash at bank and in hand

Cash at bank and in hand are basic financial assets and includes cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

2.9. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. Average Number of Employees

Average number of employees during the period was as follows: 4 (2023: 17)

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FKP Scorpio UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	5,640	11,328	16,968
Disposals	(5,640 )	(11,328 )	(16,968 )

As at 31 December 2024	-	-	-

Depreciation
As at 1 January 2024	1,984	4,593	6,577
Provided during the period	282	566	848
Disposals	(2,266 )	(5,159 )	(7,425 )

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	3,656	6,735	10,391

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	46,300	620,488
Prepayments and accrued income	66,331	464,476
Other debtors	8,487	15,677
Corporation tax recoverable assets	9,102	-
VAT	18,606	-
Amounts owed by group undertakings	312,430	444,750

	461,256	1,545,391

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	55,719	727,040
Corporation tax	4,538	58,081
Other taxes and social security	-	101,240
VAT	-	516,478
Net wages	-	112,564
Other creditors	4,939	236,226
Accruals and deferred income	448,560	2,319,425
Directors' loan accounts	-	48,855
Amounts owed to group undertakings	100,961	306,965

	614,717	4,426,874

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FKP Scorpio UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1,000 Ordinary Shares of £ 1 each	1,000	1,000

8. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	1,480	17,755
Later than one year and not later than five years	-	19,235

	1,480	36,990

The Income Statement includes operating lease payments of £17,755 (2023: £16,275) recognised as an expense.

9. Reserves

Profit and loss reserves represent the cumulative profits or losses, net of dividends and other adjustments.

10. Capital Contribution Reserve

Capital contribution reserve represent capital introduced by the parent company for which no shares were issued.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		10,391

			-		10,391
CURRENT ASSETS
Debtors	5	461,256		1,545,391
Cash at bank and in hand		589,271		3,362,904

		1,050,527		4,908,295
Creditors: Amounts Falling Due Within One Year	6	(614,717 )		(4,426,874 )

NET CURRENT ASSETS (LIABILITIES)			435,810		481,421

TOTAL ASSETS LESS CURRENT LIABILITIES			435,810		491,812

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(2,598 )

NET ASSETS			435,810		489,214

CAPITAL AND RESERVES
Called up share capital	7		1,000		1,000
Capital contribution reserve			60,000		-
Income Statement			374,810		488,214

SHAREHOLDERS' FUNDS			435,810		489,214