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Registered number: 12023379
258 EQUITY LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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258 EQUITY LTD
REGISTERED NUMBER: 12023379
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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258 EQUITY LTD
REGISTERED NUMBER: 12023379
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
The director considers 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 director acknowledges his 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 comprehensive income 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:
The notes on pages 3 to 5 form part of these financial statements.
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258 EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
258 Equity Ltd is a private company, limited by shares, incorporated in England and Wales, registered number 12023379. The registered address is 10 Queen Street Place, London, EC4R 1AG, United Kingdom.
The principal activity of the Company was that of financial investments.
The Company's functional and presentational currency is GBP.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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.
The following principal accounting policies have been applied:
During the year ended 31 March 2025, the Company made a loss of £719,491 (2024: £548,776) and had net liabilities of £1,875,071 (2024: £1,155,579). The financial statements have been prepared on a going concern basis, which the director believes to be appropriate.
The director is satisfied that the Company has sufficient cash and lending facilities available to meet its liabilities as they fall due for a period of 12 months, from the approval of these financial statements. The director considers the business to be a going concern.
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.
Interest income is recognised in profit or loss using the effective interest method.
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 comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty
on notice of not more than 24 hours.
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258 EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
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Creditors: Amounts falling due within one year
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Amounts owed to companies under common control
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258 EQUITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Creditors: Amounts falling due after more than one year
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Amounts owed to companies under common control
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The Company recognised an impairment loss of £636,668 (2024: £Nil) in respect of a loan from Sparta Promotions Ltd which was considered for impairment during the year. The remainder of the loan outstanding at the year end is £9,620,183 and is considered repayable.
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Related party transactions
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Included within creditors is £839,755 (2024: £839,755) owing to 258 Marketing Limited and £8,780,427
(2024: £9,421,110) owing to Sparta Promotions Ltd, companies under common control.
Included within creditors is £2,048,978 (2024: £1,354,855) owing to Sparta Promotions Ltd in relation to interest accrued on the amount owed.
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The ultimate and controlling party is A O O Joshua.
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