REGISTERED NUMBER: 08561817 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

DENMARK SQUARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N K C Horlick

D W Taylor

R Wight

L E Jones

REGISTERED OFFICE:

58 Glentham Road

Barnes

London

SW13 9JJ

BUSINESS ADDRESS:

6 Grove Mews

Hammersmith

London

W6 7HS

REGISTERED NUMBER:

08561817 (England and Wales)

AUDITORS:

Hartley Fowler LLP

Statutory Auditors

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Tangible assets

4

3,211

2,624

CURRENT ASSETS

Debtors

5

1,325,907

1,296,352

Cash at bank and in hand

906,999

497,395

2,232,906

1,793,747

CREDITORS

Amounts falling due within one year

6

1,358,543

954,835

NET CURRENT ASSETS

874,363

838,912

TOTAL ASSETS LESS CURRENT LIABILITIES

877,574

841,536

CREDITORS

Amounts falling due after more than one year

7

26,357

30,909

NET ASSETS

851,217

810,627

CAPITAL AND RESERVES

Called up share capital

3,176

2,949

Share premium

11,078,158

10,905,493

Retained earnings

(10,230,117

)

(10,097,815

)

851,217

810,627

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2026 and were signed on its behalf by:

N K C Horlick - Director

1.	STATUTORY INFORMATION

Denmark Square Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

These financial statements are prepared on the going concern basis.

As explained in note 11, there have been a number of complaints against the company relating to a loan that has not been repaid. A significant proportion of the complaints have been reviewed by the Financial Ombudsman Service and the files closed. However, some files remain open, which has resulted in a contingent liability being disclosed. The Directors take comfort from the fact that a number of files have been closed and that, on this basis, they are entitled to continue to operate the company as a going concern.

The directors believe that it is appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

- straight line over 3 years

Computer equipment

- straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Cash at bank is measured at transaction price.

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account in other

administrative expenses.

Investments in the equity of unlisted entities are measured at cost less impairment.

Taxation

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

92,939

Additions

3,226

At 31 March 2025

96,165

DEPRECIATION

At 1 April 2024

90,315

Charge for year

2,639

At 31 March 2025

92,954

NET BOOK VALUE

At 31 March 2025

3,211

At 31 March 2024

2,624

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

231,978

92,945

Other debtors

175,429

284,907

407,407

377,852

2025

2024

£

£

Amounts falling due after more than one year:

Other debtors

918,500

918,500

Aggregate amounts

1,325,907

1,296,352

Debtors due in more than one year relates to unpaid share capital.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,800

5,801

Trade creditors

96,206

263,152

Taxation and social security

74,136

55,230

Other creditors

1,182,401

630,652

1,358,543

954,835

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

25,036

30,909

Other creditors

1,321

-

26,357

30,909

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 years by

instalments

1,836

7,709

1,836

7,709

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

60,320

3,927

Between one and five years

89,480

1,840

149,800

5,767

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Askew FCA (Senior Statutory Auditor)

for and on behalf of Hartley Fowler LLP

10.	CONTINGENT LIABILITIES

The company is under review by the Financial Ombudsman Service (FOS) following complaints by lenders about one of the company's borrowers which failed to repay its loan.

As an execution only peer-to-peer lending platform, the company is vigorously defending the claim. Based on legal advice, the directors believe the company has a strong defence, and an unfavourable outcome is not considered probable. The maximum potential exposure is estimated at £976,000. No provision has been made in these financial statements.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the company was owed £60,266 (2024: £47,978) by a director in respect of their directors loan account. The loan has no repayment terms, is not secured and bears interest at the official HMRC rate.

As at the balance sheet date the company owed a director £5,806 (2024: £12,808 owed by company) in respect of their directors loan account. The loan has no repayment terms, is not secured and bears interest at the official HMRC rate.

12.	RELATED PARTY DISCLOSURES

The directors of the company are often appointed as directors of the borrower companies in order to monitor the loan progress. The loans are issued at the normal rates.

During the year, a pension fund of a director loaned the company £70,000 (2024: £nil). At the balance sheet date £45,396 (2024: £nil) remained outstanding and is shown within other creditors. The loan bears interest at 8% per annum and has fixed repayment terms.