COMPANY REGISTRATION NUMBER:
NI619081
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 March 2025
Current assets
|
Debtors |
5 |
5,250 |
– |
|
Cash at bank and in hand |
35,418 |
396 |
|
-------- |
---- |
|
40,668 |
396 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
127,685 |
396 |
|
--------- |
---- |
|
Net current liabilities |
87,017 |
– |
|
-------- |
---- |
|
Total assets less current liabilities |
(
87,017) |
– |
|
-------- |
---- |
|
Net liabilities |
(
87,017) |
– |
|
-------- |
---- |
|
|
|
|
Capital and reserves
|
Called up share capital |
2 |
2 |
|
Profit and loss account |
(
87,019) |
(
2) |
|
-------- |
---- |
|
Shareholders deficit |
(
87,017) |
– |
|
-------- |
---- |
|
|
|
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 income and retained earnings 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.
Directors' 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 directors acknowledge their 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
20 September 2025
, and are signed on behalf of the board by:
Company registration number:
NI619081
|
Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 128a Eglantine Avenue, Belfast, BT9 6EU, N Ireland.
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.
Going concern
Hitherto, the financial statements have been prepared on a going concern basis. The company is indebted to related companies for financing the development of the "Almsbox". The directors have decided not to seek further finance from this source and could not obtain alternative funding for the implementation of the project. Without funding, or alternative sources, the directors have decided that the project has been abandoned indefinitely. Accordingly, the directors have decided that the company will no longer to adopt the going concern basis in preparing the financial statements and have wound the company down to dormant status and seek alternative projects that might be be suitable for the company.
Disclosure exemptions
The company satisfies the criteria of being a qualifying entity as defined in FRS 102; advantage has been taken of the exemptions available under paragraph 1.12 of FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company's business is dependent upon funding of approximately £3M to implement it. To date the project has been supported financially by related companies through this product development costs, The directors continue to seek alternative sources of finance.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2024: Nil).
5.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Other debtors |
5,250 |
– |
|
------- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Social security and other taxes |
1,309 |
– |
|
Other creditors |
126,376 |
396 |
|
--------- |
---- |
|
127,685 |
396 |
|
--------- |
---- |
|
|
|
7.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard.