COMPANY REGISTRATION NUMBER:
16333734
|
Filleted Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2025
Fixed assets
Current assets
|
Debtors |
6 |
19,200 |
|
|
Cash at bank and in hand |
204,262 |
|
|
--------- |
|
|
223,462 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
18,755 |
|
|
--------- |
|
|
Net current assets |
|
204,707 |
|
|
--------- |
|
Total assets less current liabilities |
|
206,845 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
201,031 |
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
344 |
|
|
--------- |
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Net assets |
|
5,470 |
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|
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
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Profit and loss account |
|
5,370 |
|
|
------- |
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Shareholders funds |
|
5,470 |
|
|
------- |
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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 comprehensive income 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
29 April 2026
, and are signed on behalf of the board by:
Company registration number:
16333734
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Notes to the Financial Statements |
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Period from 21 March 2025 to 31 December 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Enterprise House, 38 Tyndall Court, Commerce Road. Lynch Wood, Peterborough, PE3 6LR. The trading address is Eastbourne Terrace, Flat 03-138, London, W2 6LG.
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.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing this report. The Company relies on the continued support from its parent company Azazie Inc., which has confirmed that it will continue to provide this for a period of at least 12 months from the date of signing this report. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue recognition
Turnover 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. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The company is contracted by its parent company Azazie Inc., to deliver sales and marketing services under an intercompany agreement. The company is remunerated by its parent for these services.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Computer equipment |
- |
20% straight line |
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Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
4
.
5.
Tangible assets
|
Computer equipment |
Total |
|
£ |
£ |
|
Cost |
|
|
|
At 21 March 2025 |
– |
– |
|
Additions |
2,398 |
2,398 |
|
------- |
------- |
|
At 31 December 2025 |
2,398 |
2,398 |
|
------- |
------- |
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Depreciation |
|
|
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At 21 March 2025 |
– |
– |
|
Charge for the period |
260 |
260 |
|
------- |
------- |
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At 31 December 2025 |
260 |
260 |
|
------- |
------- |
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Carrying amount |
|
|
|
At 31 December 2025 |
2,138 |
2,138 |
|
------- |
------- |
|
|
|
6.
Debtors
|
31 Dec 25 |
|
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
16,855 |
|
Other debtors |
2,345 |
|
-------- |
|
19,200 |
|
-------- |
|
|
7.
Creditors:
amounts falling due within one year
|
31 Dec 25 |
|
£ |
|
Social security and other taxes |
4,238 |
|
Other creditors |
14,517 |
|
-------- |
|
18,755 |
|
-------- |
|
|
8.
Creditors:
amounts falling due after more than one year
|
31 Dec 25 |
|
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
201,031 |
|
--------- |
|
|
9.
Summary audit opinion
The auditor's report dated
5 May 2026
was
unqualified
.
The senior statutory auditor was
Jonathan Day
, for and on behalf of
Streets Audit LLP
.
10.
Related party transactions
The company has taken advantage of the exemption available under section 33 of FRS102 relating to the disclosure of related party transactions with other members of the group.