ACCOUNTS - Final Accounts preparation

Company registration number: 13672623

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	ELBOW BEACH INVESTMENTS LIMITED


ELBOW BEACH INVESTMENTS LIMITED

COMPANY INFORMATION

Directors	N Charman
	T Hardy
	J Pollock
	D Gudgin


Registered number	13672623


Registered office	68 King William Street
	London
	EC4N 7DZ


Trading Address	68 King William Street
	London
	EC4N 7DZ



Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


ELBOW BEACH INVESTMENTS LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 7


ELBOW BEACH INVESTMENTS LIMITED REGISTERED NUMBER:13672623

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	4		40,522		60,268
Investments	5		13,832,327		10,262,405
			13,872,849		10,322,673
Current assets
Debtors: amounts falling due after more than one year	6	2,029,375		271,262
Debtors: amounts falling due within one year	6	1,065,414		738,312
Cash at bank and in hand		422,125		33,610
		3,516,914		1,043,184
Creditors: amounts falling due within one year	7	(21,835,500)		(13,912,409)
Net current liabilities			(18,318,586)		(12,869,225)
Total assets less current liabilities			(4,445,737)		(2,546,552)

Net liabilities			(4,445,737)		(2,546,552)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(4,445,837)	(2,546,652)
	(4,445,737)	(2,546,552)

Page 1


ELBOW BEACH INVESTMENTS LIMITED REGISTERED NUMBER:13672623

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J Pollock

Director

Date: 8 May 2026

The notes on pages 3 to 7 form part of these financial statements.

Page 2


ELBOW BEACH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Elbow Beach Investments Limited is a private company, limited by shares, registered in England and Wales, company registration number 13672623. The registered office and principal place of business is disclosed in the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Revenue

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 generated by providing consultancy services and measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Going concern

As at the year end the company has net liabilities of £4,445,737 (2024: £2,546,552). The directors have confirmed that they will continue to provide financial support so that the company will be able to meet the creditors as theyfall due.

2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3


ELBOW BEACH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles	-	25%	straight-line
Office equipment	-	25%	straight-line
Computer equipment	-	33%	straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4


ELBOW BEACH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 4 (2024 -4).

4.	Tangible fixed assets

	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	53,530	17,061	11,213	81,804
Additions	-	-	1,623	1,623
At 31 March 2025	53,530	17,061	12,836	83,427
Depreciation
At 1 April 2024	10,037	5,470	6,029	21,536
Charge for the year on owned assets	13,382	4,321	3,666	21,369
At 31 March 2025	23,419	9,791	9,695	42,905
Net book value
At 31 March 2025	30,111	7,270	3,141	40,522
At 31 March 2024	43,493	11,591	5,184	60,268

Page 5


ELBOW BEACH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Fixed asset investments

	Investments in subsidiary companies	Investments in associates	Total
	£	£	£
Cost or valuation
At 1 April 2024	100	10,262,305	10,262,405
Additions	-	3,569,922	3,569,922
At 31 March 2025	100	13,832,227	13,832,327

6.	Debtors
		2025	2024
		£	£

Due after more than one year
Due from participating interests	-	271,262
Other debtors	2,029,375	-
	2,029,375	271,262

					2025	Restated 2024
					£	£

Due within one year
Trade debtors	8,847	22,047
Amounts owed by group undertakings	725,902	586,441
Other debtors	261,282	87,662
Prepayments and accrued income	69,383	42,162
	1,065,414	738,312

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	2,914	2,194
Trade creditors	12,566	28,209
Other creditors	21,805,420	13,873,101
Accruals and deferred income	14,600	8,905
	21,835,500	13,912,409

Page 6


ELBOW BEACH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Prior year adjustment

During the year ended 31 March 2025, it was identified that an investments owned by Elbow Beach Investments Limited were incorrectly recognised in the financial statements of Elbow Beach Capital Limited. As a result, a prior year adjustment has been made which increased the brought forward investment by £901,303 with a corresponding reduction in the amounts owed by group undertakings by £901,303 and no impact on retained earnings brought forward.

9.	Transactions with directors
	As at year end, there is an amount due to a director of £Nil (2024: £46,066) within other creditors. This amount is interest free and repayable on demand. As at year end, there is an amount due to a director of £21,762,653 (2024: £13,782,742) within other creditors. This amount is interest free and repayable on demand.

Page 7