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Company No: 10229991 (England and Wales)

# FIVE AT HEART LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

FIVE AT HEART LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

FIVE AT HEART LIMITED

## COMPANY INFORMATION

For the financial year ended 30 June 2025
FIVE AT HEART LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 June 2025

Director | Justin Sires

Registered office | 2nd Floor 168 Shoreditch High Street
| London
| E1 6RA
| United Kingdom

Company number | 10229991 (England and Wales)

Accountant | Kreston Reeves LLP
| 2nd Floor
| 168 Shoreditch High Street
| London
| E1 6RA

FIVE AT HEART LIMITED

## BALANCE SHEET

As at 30 June 2025
FIVE AT HEART LIMITED

## BALANCE SHEET (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 8,413 |  | 10,132
|  | 8,413 |  | 10,132
Current assets |  |  |  |
Stocks | 4 | 104,555 |  | 139,084
Debtors | 5 | 1,095,888 |  | 827,967
Cash at bank and in hand |  | 770,836 |  | 464,455
|  | 1,971,279 |  | 1,431,506
Creditors: amounts falling due within one year | 6 | ( 1,503,093) |  | ( 989,892)
Net current assets |  | 468,186 |  | 441,614
Total assets less current liabilities |  | 476,599 |  | 451,746
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 91,946)
Net assets |  | 476,599 |  | 359,800
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | 476,499 |  | 359,700
Total shareholder's funds |  | 476,599 |  | 359,800

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges 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 Five at heart limited (registered number: 10229991) were approved and authorised for issue by the Director on 16 March 2026. They were signed on its behalf by:

Justin Sires Director |

FIVE AT HEART LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
FIVE AT HEART LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

Five at heart 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 2nd Floor 168 Shoreditch High Street, London, E1 6RA, 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 £.

##### 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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
 the amount of revenue can be measured reliably;
 it is probable that the Company will receive the consideration due under the contract;
 the stage of completion of the contract at the end of the reporting period can be measured reliably; and
 the costs incurred and the costs to complete the contract can be measured reliably.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee 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 year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### 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:

Leasehold improvements | 3 years straight line
Office equipment | 4 years straight line
Computer equipment | 3 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.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 6 |  | 4

#### 3. Tangible assets

| Leasehold improve- ments |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 July 2024 | 7,933 |  | 4,405 |  | 10,328 |  | 22,666
Additions | 1,826 |  | 1,415 |  | 833 |  | 4,074
At 30 June 2025 | 9,759 |  | 5,820 |  | 11,161 |  | 26,740
Accumulated depreciation |  |  |  |  |  |  |
At 01 July 2024 | 1,763 |  | 3,320 |  | 7,451 |  | 12,534
Charge for the financial year | 3,202 |  | 773 |  | 1,818 |  | 5,793
At 30 June 2025 | 4,965 |  | 4,093 |  | 9,269 |  | 18,327
Net book value |  |  |  |  |  |  |
At 30 June 2025 | 4,794 |  | 1,727 |  | 1,892 |  | 8,413
At 30 June 2024 | 6,170 |  | 1,085 |  | 2,877 |  | 10,132

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 104,555 |  | 139,084

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 605,345 |  | 541,359
Amounts owed by Group undertakings | 7,040 |  | 0
Prepayments and accrued income | 6,465 |  | 15,802
VAT recoverable | 49,702 |  | 0
Other debtors | 427,336 |  | 270,806
| 1,095,888 |  | 827,967

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 762,752 |  | 528,493
Accruals and deferred income | 682,530 |  | 351,208
Taxation and social security | 43,767 |  | 73,657
Other creditors | 14,044 |  | 36,534
| 1,503,093 |  | 989,892

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Amounts owed to Group undertakings | 0 |  | 91,946

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 21,600 |  | 21,600
between one and five years | 0 |  | 21,600
Total future minimum lease payments under non-cancellable operating leases | 21,600 |  | 43,200

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Contributions payable by the company to the fund | 6,889 |  | 6,120
Total contributions payable on the balance sheet date | 0 |  | 1,222
| 6,889 |  | 7,342

The pension cost charge represents contributions payable by the Company to the fund. Contributions payable to the fund at the balance sheet date and are included in creditors.

#### 10. Related party transactions

The group has taken advantage of the exemption provided by section 33 Related Party Disclosures paragraph 33.1A of Financial Reporting Standard 102 from disclosing related party transactions entered into between the company and other group companies, where the subsidiary undertaking is wholly owned by a member of the group.

#### 11. Ultimate controlling party

The company is controlled by PFL Spaces Holdings Pty Ltd, the parent company incorporated in Australia, who own 100% of the issued share capital.