COMPANY REGISTRATION NUMBER:
10647133
|
Filleted Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2025
Current assets
|
Stocks |
16,000,000 |
15,000,000 |
|
Debtors |
4 |
100,201 |
47,928 |
|
Cash at bank and in hand |
5,028,980 |
6,787,258 |
|
------------- |
------------- |
|
21,129,181 |
21,835,186 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
17,504,363 |
17,954,183 |
|
------------- |
------------- |
|
Net current assets |
3,624,818 |
3,881,003 |
|
------------ |
------------ |
|
Total assets less current liabilities |
3,624,818 |
3,881,003 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
9,600,000 |
9,600,000 |
|
------------ |
------------ |
|
Net liabilities |
(
5,975,182) |
(
5,718,997) |
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
Profit and loss account |
(
5,975,183) |
(
5,718,998) |
|
------------ |
------------ |
|
Shareholder deficit |
(
5,975,182) |
(
5,718,997) |
|
------------ |
------------ |
|
|
|
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 income and retained earnings 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
19 May 2026
, and are signed on behalf of the board by:
|
E Yildirim |
A Oral |
|
Director |
Director |
|
|
Company registration number:
10647133
|
Notes to the Financial Statements |
|
Year ended 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 Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In the opinion of the directors, continued financial support will be available such that the company can continue trading and meet it's liabilities as they fall due. Based on this, the directors consider it appropriate that the financial statements are prepared on a going concern basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Other debtors |
100,201 |
47,928 |
|
--------- |
-------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
9,720 |
39,063 |
|
Other creditors |
17,494,643 |
17,915,120 |
|
------------- |
------------- |
|
17,504,363 |
17,954,183 |
|
------------- |
------------- |
|
|
|
6.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
9,600,000 |
9,600,000 |
|
------------ |
------------ |
|
|
|
7.
Financial instruments
For financial instruments measured at fair value, the basis for determining fair value must be disclosed. When a valuation technique is used, the assumptions applied in determining fair value for each class of financial assets or financial liabilities must be disclosed. If a reliable measure of fair value is no longer available for ordinary or preference shares measured at fair value through profit or loss, this must also be disclosed.
8.
Summary audit opinion
The auditor's report dated
19 May 2026
was
unqualified
.
The senior statutory auditor was
Paul Mattei
, for and on behalf of
Leaman Mattei
.
9.
Holding company
The immediate and ultimate holding company is Mathir BV; a company registered in Amsterdam, The Netherlands. The directors consider the ultimate controlling party to be RJ Ilicak. At the year end, included in other creditors, is a balance of £17,481,671(2024:£17,901,671) due to RJ Ilicak.