COMPANY REGISTRATION NUMBER:
13600387
|
Filleted Financial Statements |
|
Year ended 31 December 2024
|
Statement of financial position |
1 |
|
|
|
Notes to the financial statements |
2 |
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|
|
Statement of Financial Position |
|
31 December 2024
Current assets
|
Debtors |
5 |
18,990 |
|
553 |
|
Cash at bank and in hand |
199,062 |
|
50,239 |
|
--------- |
|
-------- |
|
218,052 |
|
50,792 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
3,409,991 |
|
274,779 |
|
------------ |
|
--------- |
|
Net current liabilities |
|
3,191,939 |
223,987 |
|
|
------------ |
--------- |
|
Total assets less current liabilities |
|
(
3,191,939) |
(
223,987) |
|
|
------------ |
--------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
1 |
1 |
|
Profit and loss account |
|
(
3,191,940) |
(
223,988) |
|
|
------------ |
--------- |
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Shareholders deficit |
|
(
3,191,939) |
(
223,987) |
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|
------------ |
--------- |
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|
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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.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
24 December 2025
, and are signed on behalf of the board by:
|
Ms M Diez Canedo Guijarro |
|
Director |
|
Company registration number:
13600387
|
Notes to the Financial Statements |
|
Year ended 31 December 2024
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 St Botolph Building, 138, Houndsditch, London, EC3A 7AR, United Kingdom.
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
The company's business activities are reliant on the continued financial support of its parent company. The directors have a reasonable expectation that the company will continue to operate under these circumstances and continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing these annual financial statements.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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
35
(2023:
1
).
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
18,990 |
553 |
|
-------- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
6,804 |
779 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
3,200,182 |
259,330 |
|
Social security and other taxes |
203,005 |
14,670 |
|
------------ |
--------- |
|
3,409,991 |
274,779 |
|
------------ |
--------- |
|
|
|
7.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
27,450 |
– |
|
-------- |
---- |
|
|
|
8.
Events after the end of the reporting period
Subsequent to the year end, the company entered into a formal transfer pricing agreement with its parent company. Under this agreement, the company will recharge costs incurred in prior periods together with an appropriate markup. In accordance with FRS 102 Section 32, this agreement represents a non-adjusting event because the contractual right to consideration did not exist at the reporting date. Therefore, no income has been recognised in these financial statements in respect of this agreement. The impact of this agreement will be reflected in the next reporting period.
9.
Summary audit opinion
The auditor's report dated
30 December 2025
was
unqualified
.
The senior statutory auditor was
Andrew Collyer
, for and on behalf of
Burgess Hodgson Audit Limited
.
10.
Related party transactions
At the year end the company owed £3,200,182 (2023: £259,330) to a group companies.
11.
Controlling party
At the balance sheet date the company was under the control of Via Ventures Inc., a company incorporated in the United States. The registered address is as follows: Via Global Ventures Inc, 3790 El Camino Real PMB 892, Palo Alto, CA 94306, USA.