Company registration number:
for the Year Ended
Funding52 Limited
(Registration number: 13619822)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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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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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
Approved and authorised by the
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Funding52 Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These 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.
These financial statements are presented in Sterling (£).
Going concern
The company has net liabilities of £28,159,720 (2024: £26,755,635). The director considers the operations of the company to be ongoing, with a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. This is based on the assumption that the overseas funders will continue to provide support as required for at least the next 12 months from the date of signing the financial statements and will not request payment of the outstanding loan principal and accrued interest thereon until such time that the company is financially able to afford it. The funds have provided written representations to this effect.
Accordingly, these financial statements have been prepared on a going concern basis.
Turnover
The company has an agreement in place with Cheval Legal Limited for the settlement of a portfolio of Plevin insurance claims. Settlements are recognised in turnover when payment is received by Cheval from a defendant following a successful outcome. The settlements received will repay the loan balance payable to the funds. The settlement of the claim portfolio is of uncertain timing and amount and therefore no asset has been recognised on the balance sheet in relation to this.
Funding52 Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Other debtors are recognised at cost. They are subsequently measured at cost, less provision for impairment.
A provision for the impairment of trade and other debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year was
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Debtors |
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Current |
2025 |
2024 |
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Other debtors |
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Funding52 Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Other creditors |
18,607,864 |
19,790,865 |
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Interest payable |
9,754,641 |
7,121,794 |
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Related party transactions |
Summary of transactions with other related parties
Loans due to:
Solid Income II Limited £13,168,316 (2024: £12,687,015).
Swiss Alp Factoring AG £3,674,329 (2024: £3,096,757).
MT1 Ltd £11,519,860 (2024: £11,128,887).
Included in the above is interest accruing on the loans at a rate between 6%-14%.
Legal and professional fees of £2,973, accounting fees of £33,194, and director remuneration of £9,098 were recharged to the funds in the year.
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Parent and ultimate parent undertaking |
The company's immediate parent is
Funding52 Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
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Off-balance sheet arrangements |
The company holds an arrangement with a law firm, Cheval Legal Ltd, which gives the company the right to receive income from a tranche of Plevin cases as they are settled through the courts. The director estimates that this arrangement will generate net cash inflows of appoximately £4 million, over the next 4 years. This estimate is based on information provided by Cheval Legal Ltd. Income is wholly used to repay the loans and interest from the funds set out in Note 6.
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Audit Report |