Company No: 08901661 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	959,945		961,818
Investment property	4	375,000		375,000
		1,334,945		1,336,818
Current assets
Debtors	5	368,088		452,565
Cash at bank and in hand		1,602,800		1,625,930
		1,970,888		2,078,495
Creditors: amounts falling due within one year	6	( 960,710)		( 990,483)
Net current assets		1,010,178		1,088,012
Total assets less current liabilities		2,345,123		2,424,830
Creditors: amounts falling due after more than one year	7	( 524,480)		( 570,865)
Provision for liabilities		( 48,000)		( 44,000)
Net assets		1,772,643		1,809,965
Capital and reserves
Called-up share capital	8	100		100
Undistributable reserve		46,385		46,385
Profit and loss account		1,726,158		1,763,480
Total shareholders' funds		1,772,643		1,809,965

For the financial year ending 31 March 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 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 Income Statement has not been delivered.

The financial statements of The Function Band Limited (registered number: 08901661) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D I Rosen Director

17 November 2025

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

The Function Band 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 Unit 2 Stirling Court Yard, Stirling Way, Borehamwood, WD6 2FX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties 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

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery etc.	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessor
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

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

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	12		9

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2024	947,684		41,982		989,666
Additions	6,835		18,622		25,457
Disposals	0		( 1,224)		( 1,224)
At 31 March 2025	954,519		59,380		1,013,899
Accumulated depreciation
At 01 April 2024	10,849		16,999		27,848
Charge for the financial year	19,084		7,673		26,757
Disposals	0		( 651)		( 651)
At 31 March 2025	29,933		24,021		53,954
Net book value
At 31 March 2025	924,586		35,359		959,945
At 31 March 2024	936,835		24,983		961,818

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	375,000
As at 31 March 2025	375,000

Valuation

The investment property has been valued by the directors at fair value at the reporting date by reference to market evidence of transaction prices of similar properties.

5. Debtors

	2025		2024
	£		£
Trade debtors	163,136		169,259
Amounts owed by related parties	3,500		0
Other debtors	201,452		283,306
	368,088		452,565

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	46,272		47,136
Trade creditors	65,716		90,497
Corporation tax	198,000		329,000
Other taxation and social security	133,049		135,979
Other creditors	517,673		387,871
	960,710		990,483

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	516,560		562,945
Other creditors	7,920		7,920
	524,480		570,865

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans	340,989		379,258

The bank loans are secured by way of both fixed and floating charges over the assets of the company.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

	2025		2024
	£		£
	37,591		46,281