COMPANY REGISTRATION NUMBER:
09937224
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2025
Current assets
|
Debtors |
6 |
– |
|
4,415 |
|
Cash at bank and in hand |
– |
|
789 |
|
---- |
|
------- |
|
– |
|
5,204 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
71,542 |
|
71,121 |
|
--------- |
|
--------- |
|
Net current liabilities |
|
71,542 |
65,917 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
(
71,542) |
(
65,917) |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
1 |
1 |
|
Profit and loss account |
|
(
71,543) |
(
65,918) |
|
|
--------- |
--------- |
|
Shareholders deficit |
|
(
71,542) |
(
65,917) |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
2 October 2025
, and are signed on behalf of the board by:
Company registration number:
09937224
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Knoll Business Centre, 325-327 Old Shoreham Road, Hove, East Sussex, BN3 7GS, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Going concern
The financial statements are prepared on a going concern basis. The Company remains assured of the financial support provided by the ultimate parent company. The directors have received confirmation that the ultimate parent company will continue to support the Company and provide it with adequate funds when necessary to meet its debts as they fall in the foreseeable future.
Cash at bank
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences a£ the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2024:
2
).
5.
Other financial commitments
There is a cross guarantee and debenture between Crunch Academy Ltd, Crunch Accounting Ltd and Crunch Umbrella Ltd dated 24 May 2018 over a loan that E-Crunch Ltd, Crunch Umbrella Ltd’s parent company, received from Barclays Bank PLC.
The loan was repaid during the year ended 31st March 2025. The final payment was completed on 24th January 2025.
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Other debtors |
– |
4,415 |
|
---- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
64,174 |
63,753 |
|
Other creditors |
7,368 |
7,368 |
|
--------- |
--------- |
|
71,542 |
71,121 |
|
--------- |
--------- |
|
|
|
Amounts owed to group undertakings and related parties are unsecured, interest free and repayable on demand.
8.
Related party transactions
The Company is a wholly owned subsidiary of E-Crunch Limited and as such has taken advantage of the exemption not to provide disclosures of transactions entered into with other wholly-owned members of the group. Included in amounts owed to group undertakings is an amount of £64,174 (2024: £63,752) which was owed to E-Crunch Ltd, the parent company. As at 31 March 2025 the Company owed £7,368 (2024: £7,368) to Crunch Accounting Ltd, a company related by common shareholders with significant influence. This amount is included within other creditors.
9.
Controlling party
The immediate and ultimate parent company is E-Crunch Ltd, a company incorporated in England and Wales, United Kingdom, whose registered address is 86-90 Paul Street, London, England, EC2A 4NE. 100% of the issued share capital of the Company is owned by E-Crunch Ltd.