Company No: 13876661 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	05.04.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	3	3,572		5,069
Investment property	4	52,478		52,478
		56,050		57,547
Current assets
Debtors	5	3,904,393		2,737,786
Cash at bank and in hand		1,404,976		1,867,137
		5,309,369		4,604,923
Creditors: amounts falling due within one year	6	( 2,582,402)		( 2,432,670)
Net current assets		2,726,967		2,172,253
Total assets less current liabilities		2,783,017		2,229,800
Provision for liabilities		( 1,493)		( 1,493)
Net assets		2,781,524		2,228,307
Capital and reserves
Called-up share capital	7	2		2
Profit and loss account		2,781,522		2,228,305
Total shareholders' funds		2,781,524		2,228,307

For the financial period ending 05 April 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 period 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 Profit and Loss Account has not been delivered.

The financial statements of Splendid SPA Limited (registered number: 13876661) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

D Hobbs Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Splendid SPA 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 Studio 303, Edinburgh House 170 Kennington Lane, London, SE11 5DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation investment properties and certain items 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 £.

Reporting period length

The financial statements for the period ended 5 April 2025 cover a period of 12 months and 5 days (prior period: 1 April 2024 to 31 March 2025, 12 months) The change in accounting period has been made for commercial reasons. As a result, the comparative figures are not directly comparable.

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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account 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 represents amounts receivable for work carried out in respect of services for the events industry, net of VAT.

Turnover generated from services is recognised based on the stage of completion of each client engagement determined with reference to associated costs incurred as a proportion of projected costs.

Turnover recognised in the profit and loss account but not yet invoiced is held on the balance sheet within accrued income. Turnover invoiced but not yet recognised in the profit and loss account is held on the balance sheet within deferred income.

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
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet 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, net of depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment	25 % reducing balance
Computer equipment	3 years straight line

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread 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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account. There have been no impairments noted this year.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related entities, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

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.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

	Period from 01.04.2024 to 05.04.2025		Year ended 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	228		160

3. Tangible assets

	Office equipment		Computer equipment		Total
	£		£		£
Cost
At 01 April 2024	1,682		6,100		7,782
Additions	0		999		999
At 05 April 2025	1,682		7,099		8,781
Accumulated depreciation
At 01 April 2024	499		2,214		2,713
Charge for the financial period	296		2,200		2,496
At 05 April 2025	795		4,414		5,209
Net book value
At 05 April 2025	887		2,685		3,572
At 31 March 2024	1,183		3,886		5,069

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	52,478
As at 05 April 2025	52,478

Valuation

At 31 March 2025, the directors assessed the fair market value of the investment property of £52,478 to be unchanged from historic cost of acquisition.

5. Debtors

	05.04.2025		31.03.2024
	£		£
Trade debtors	1,360,166		1,706,105
Amounts owed by connected companies	2,369,977		636,103
Corporation tax	0		23,573
Other debtors	174,250		372,005
	3,904,393		2,737,786

6. Creditors: amounts falling due within one year

	05.04.2025		31.03.2024
	£		£
Trade creditors	1,234,349		1,821,942
Taxation and social security	791,487		436,234
Other creditors	556,566		174,494
	2,582,402		2,432,670

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	05.04.2025		31.03.2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

8. Financial commitments

Commitments

	05.04.2025		31.03.2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	48,370		62,527

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	05.04.2025		31.03.2024
	£		£
Amounts due from entities over which the directors have control, joint control or significant influence	2,210,710		636,103
	0		0

The above loans are unsecured, interest free and are repayable on demand.

Transactions with entities in which the entity itself has a participating interest

	05.04.2025		31.03.2024
	£		£
Amounts due from subsidiary	100,450		0

The above loan is unsecured, interest free and are repayable on demand.