COMPANY REGISTRATION NUMBER:
13427930
|
Filleted Unaudited Accounts |
|
|
Statement of Financial Position |
|
31 December 2025
Current assets
|
Debtors |
5 |
60,575 |
78,114 |
|
Cash at bank and in hand |
3,709 |
1,170 |
|
-------- |
-------- |
|
64,284 |
79,284 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
(
2,283,224) |
(
1,757,282) |
|
------------ |
------------ |
|
Net current liabilities |
(
2,218,940) |
(
1,677,998) |
|
------------ |
------------ |
|
Total assets less current liabilities |
(
2,218,940) |
(
1,677,998) |
|
------------ |
------------ |
|
Net liabilities |
(
2,218,940) |
(
1,677,998) |
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
142 |
142 |
|
Profit and loss account |
(
2,219,082) |
(
1,678,140) |
|
------------ |
------------ |
|
Shareholders deficit |
(
2,218,940) |
(
1,677,998) |
|
------------ |
------------ |
|
|
|
These accounts 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.
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
.
These accounts were approved by the
board of directors
and authorised for issue on
22 September 2026
, and are signed on behalf of the board by:
Company registration number:
13427930
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 and principle place of business is 28 Grosvenor Street, London, W1J 5RL, England.
2.
Statement of compliance
These accounts 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 US Dollars, which is the functional currency of the entity.
Going concern
As at 31 December 2025 the Company reported a loss of $423,035 ,and had net liabilities of $2,218,940. In light of these circumstances the Directors' have considered the appropriateness of the Going Concern basis of preparation. In making this assessment the Directors' have considered the future cash flows of the Company together with the availability of financial support from the parent undertaking. The Directors are satisfied that the Company is a going concern and will have sufficient funds to continue in operational existence for the foreseeable future, and that its parent company has confirmed it will continue to provide financial support as required to ensure the Company can meet its obligations as and when they fall due for the twelve months from the date of approval of the financial statements. The Board believes that the Company is well placed to manage its business risks, and longer term strategic objectives, successfully. Therefore, the Directors consider the going concern basis of preparation of these financial statements appropriate.
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.
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 Financial assets are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company does not hold any third party financial assets. Loans and receivables Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are initially recognised at fair value and are subsequently measured using the effective interest method less provision for any impairment. Financial liabilities and equity instruments Financial liabilities and equity are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Other financial liabilities (including borrowing and trade and other payables) are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2024:
3
).
5.
Debtors
|
2025 |
2024 |
|
$ |
$ |
|
Other debtors |
60,575 |
78,114 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
$ |
$ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2,251,519 |
1,757,282 |
|
Other creditors |
31,705 |
– |
|
------------ |
------------ |
|
2,283,224 |
1,757,282 |
|
------------ |
------------ |
|
|
|
7.
Translation reserve
The translation reserve comprises all foreign exchange differences arising from the translation of the financial statements into the presentation currency.
8.
Other financial commitments
As at the reporting date, the company had no financial or other commitments or contracts for capital expenditure in place. (2024: nil)
9.
Related party transactions
No transactions were undertaken with related parties as such that are required to be disclosed under FRS 102 Section 1A.