COMPANY REGISTRATION NUMBER:
09189130
|
Audited Financial Statements |
|
Year ended 31 December 2024
|
Officers and professional advisers |
1 |
|
|
|
Statement of financial position |
2 |
|
|
|
Notes to the financial statements |
3 |
|
|
|
Statement of Financial Position |
|
31 December 2024
Current assets
|
Debtors |
5 |
108,880 |
329,570 |
|
Cash at bank and in hand |
– |
3,127 |
|
--------- |
--------- |
|
108,880 |
332,697 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
42,994 |
344,837 |
|
--------- |
--------- |
|
Net current assets/(liabilities) |
65,886 |
(
12,140) |
|
-------- |
-------- |
|
Total assets less current liabilities |
65,886 |
(
12,140) |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
2,760,490 |
2,702,148 |
|
------------ |
------------ |
|
Net liabilities |
(
2,694,604) |
(
2,714,288) |
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
19,873 |
19,873 |
|
Profit and loss account |
(
2,714,477) |
(
2,734,161) |
|
------------ |
------------ |
|
Shareholders funds |
(
2,694,604) |
(
2,714,288) |
|
------------ |
------------ |
|
|
|
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 director acknowledges her 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
15 May 2026
, and are signed on behalf of the board by:
Company registration number:
09189130
|
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 Flat 2, 8-12 Queens Avenue, London, N10 3NR.
2.
Statement of compliance
The financial statements have been prepared in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in accordance with the accounting policies below.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Going concern
At 31 December 2024, the balance sheet showed net current assets of £65,886 (2023: net current liabilities of £12,140), and net liabilities of £2,694,604 (2023: £2,714,288). The ultimate parent company has given an undertaking to financially support the company for at least 12 months from the date of the signature on the Balance Sheet. The situation will be reviewed after this time. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Cash and cash equivalents
These comprise cash at bank.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.
Income tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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.
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
1
).
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
108,880 |
329,570 |
|
--------- |
--------- |
|
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
9,300 |
6,319 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
– |
258,436 |
|
Social security and other taxes |
11,059 |
10,578 |
|
Other creditors |
22,635 |
69,504 |
|
-------- |
--------- |
|
42,994 |
344,837 |
|
-------- |
--------- |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2,760,490 |
2,702,148 |
|
------------ |
------------ |
|
|
|
Included within amounts owed to group undertakings above is interest charged to the company of £nil (2023 : £176,104).
8.
Summary audit opinion
The auditor's report dated
15 May 2026
was
unqualified
.
The senior statutory auditor was
Zara Dunster FCA
, for and on behalf of
Town & Forest
.
9.
Controlling party
The immediate parent and ultimate controlling party is
MarleySpoon SE
.