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Company No: 15613928 (England and Wales)

# WELLVERSE FITZROVIA LIMITED

### Unaudited Financial Statements
For the financial period from 03 April 2024 to 31 December 2024
Pages for filing with the registrar

WELLVERSE FITZROVIA LIMITED

## Unaudited Financial Statements

For the financial period from 03 April 2024 to 31 December 2024

Contents

WELLVERSE FITZROVIA LIMITED

## COMPANY INFORMATION

For the financial period from 03 April 2024 to 31 December 2024
WELLVERSE FITZROVIA LIMITED

## COMPANY INFORMATION (continued)

For the financial period from 03 April 2024 to 31 December 2024

DIRECTORS | Samuel Henry Green (Appointed 03 April 2024)
| Greg Zimmerman (Appointed 03 April 2024)

REGISTERED OFFICE | 1 Fore Street Avenue
| C/O Praxis
| London
| EC2Y 9DT
| United Kingdom

COMPANY NUMBER | 15613928 (England and Wales)

ACCOUNTANT | Praxis
| 1 Fore Street Avenue
| London
| EC2Y 9DT
| United Kingdom

WELLVERSE FITZROVIA LIMITED

## BALANCE SHEET

As at 31 December 2024
WELLVERSE FITZROVIA LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 31.12.2024
|  | £
Fixed assets |  |
Intangible assets | 3 | 35,262
Tangible assets | 4 | 4,472
|  | 39,734
Current assets |  |
Debtors | 5 | 68,886
Cash at bank and in hand |  | 4,755
|  | 73,641
Creditors: amounts falling due within one year | 6 | ( 197,458)
Net current liabilities |  | (123,817)
Total assets less current liabilities |  | (84,083)
Net liabilities |  | ( 84,083)
Capital and reserves |  |
Called-up share capital | 7 | 100
Profit and loss account |  | ( 84,183 )
Total shareholder's deficit |  | ( 84,083)

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Wellverse Fitzrovia Limited (registered number: 15613928) were approved and authorised for issue by the Board of Directors on 05 March 2026. They were signed on its behalf by:

Samuel Henry Green Director |

WELLVERSE FITZROVIA LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 April 2024 to 31 December 2024
WELLVERSE FITZROVIA LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 April 2024 to 31 December 2024

##### 1. Accounting policies

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

##### General information and basis of accounting

Wellverse Fitzrovia 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 1 Fore Street Avenue, C/O Praxis, London, EC2Y 9DT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £84,083. The Company is supported through loans from a Company under common control. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Company under common control will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Reporting period length

The financial statements have been prepared for the nine month period from incorporation on 3 April 2024 to 31 December 2024.

##### 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 Statement of Income and Retained Earnings 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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 5 years straight line
Other intangible assets | 10 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### 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 Statement of Income and Retained Earnings as described below.

##### 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 including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| Period from 03.04.2024 to 31.12.2024
| Number
Monthly average number of persons employed by the Company during the period, including directors | 2

#### 3. Intangible assets

| Goodwill |  | Other intangible assets |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 03 April 2024 | 0 |  | 0 |  | 0
Additions | 33,635 |  | 3,000 |  | 36,635
At 31 December 2024 | 33,635 |  | 3,000 |  | 36,635
Accumulated amortisation |  |  |  |  |
At 03 April 2024 | 0 |  | 0 |  | 0
Charge for the financial period | 1,148 |  | 225 |  | 1,373
At 31 December 2024 | 1,148 |  | 225 |  | 1,373
Net book value |  |  |  |  |
At 31 December 2024 | 32,487 |  | 2,775 |  | 35,262

#### 4. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 03 April 2024 | 0 |  | 0
Additions | 5,350 |  | 5,350
At 31 December 2024 | 5,350 |  | 5,350
Accumulated depreciation |  |  |
At 03 April 2024 | 0 |  | 0
Charge for the financial period | 878 |  | 878
At 31 December 2024 | 878 |  | 878
Net book value |  |  |
At 31 December 2024 | 4,472 |  | 4,472

#### 5. Debtors

| 31.12.2024
| £
Trade debtors | 1,296
Amounts owed by Group undertakings | 8,797
Other debtors | 58,793
| 68,886

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

#### 6. Creditors: amounts falling due within one year

| 31.12.2024
| £
Trade creditors | 32,853
Amounts owed to Group undertakings | 39,882
Other taxation and social security | 47,409
Other creditors | 77,314
| 197,458

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

#### 7. Called-up share capital

| 31.12.2024
| £
Allotted, called-up and fully-paid |
100 Ordinary shares of £ 1.00 each | 100

#### 8. Financial commitments

The Company had no material capital commitments at the period ended 31 December 2024.

#### 9. Related party transactions

Transactions with owners holding a participating interest in the entity

| 31.12.2024
| £
Consulting services | 25,050

#### 10. Ultimate controlling party

Parent Company:

Row Group Holdings Limited
1 Fore Street Avenue, C/O Praxis, London, England, EC2Y 9DT