REGISTERED NUMBER: 02241079 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CROMWELL MANOR FUNCTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I R Liddell

SECRETARY:

N K Brooks

REGISTERED OFFICE:

Upminster Court

133 Hall Lane

Upminster

Essex

RM14 1AL

REGISTERED NUMBER:

02241079 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Green LLB FCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

CURRENT ASSETS

Stocks

-

6,337

Debtors

6

41,946

144,782

Cash at bank

93,549

185,223

135,495

336,342

CREDITORS

Amounts falling due within one year

7

1,043,271

1,130,830

NET CURRENT LIABILITIES

(907,776

)

(794,488

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(907,776

)

(794,488

)

CREDITORS

Amounts falling due after more than one year

8

60,000

-

NET LIABILITIES

(967,776

)

(794,488

)

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

(967,878

)

(794,590

)

(967,776

)

(794,488

)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2025 and were signed by:

I R Liddell - Director

1.	STATUTORY INFORMATION

Cromwell Manor Functions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern

At the year end the Company had a balance sheet deficit of £967,776 (2023: £794,488).

In light of this, the Company has obtained a letter of support from its parent company, confirming that it will take such actions, as may be reasonably necessary, to enable the Company to continue to settle its obligations in the ordinary course of business.

The Directors have made reasonable enquiries to enable them to consider the ability of the parent company to support the Company. Taking into account the matters described above the Directors believe that the Company will be able to meet its liabilities as they fall due and will have adequate resources to continue in operational existence . for the foreseeable future.

The financial statements have therefore been prepared on the going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

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 on completion of the relevant event.

Licence fee income is recognised in the period to which the agreement relates.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Stocks

Stock are valued at the lower of cost and selling price, less costs to sell, and 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 Income Statement, 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.

The GB Europe Holdings Limited group offsets its corporation tax profits against the losses of other entities within the group via group relief as permitted by the UK tax legislation. Where such relief is claimed no payment is made between the companies.

The company is party to group transactions where transfer pricing regulations apply. A formal transfer pricing review is in progress which may impact the tax treatment of group transactions. Should adjustment for transfer pricing result, then any group entity with additional tax liability will be compensated by the group entity with reduced tax liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

26,221

141,751

167,972

DEPRECIATION

At 1 January 2024

and 31 December 2024

26,221

141,751

167,972

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

35,648

79,411

Amounts owed by group undertakings

6,203

59,752

Other debtors

95

5,619

41,946

144,782

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,501

14,030

Amounts owed to group undertakings

1,002,082

931,557

Taxation and social security

2,572

66,792

Other creditors

35,116

118,451

1,043,271

1,130,830

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

60,000

-

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Green LLB FCA (Senior Statutory Auditor)

for and on behalf of THP Limited

10.	CONTINGENT LIABILITIES

The bank hold a fixed and floating charge over the assets of the company.

11.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Grand Events Holdings Limited, a company incorporated in England and Wales.

The ultimate parent company is GB Global Holdco. Pte. Ltd, a company incorporated in Singapore.

The largest group in the UK for which group accounts are prepared is headed by GB Europe Holdings Limited. A copy of the consolidated accounts may be obtained from Companies House.

The ultimate controlling party is I R Liddell.