IRIS Accounts Production v23.1.0.753 13033865 Board of Directors 1.1.22 31.12.22 31.12.22 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure130338652021-12-31130338652022-12-31130338652022-01-012022-12-31130338652020-11-19130338652020-11-202021-12-31130338652021-12-3113033865ns16:EnglandWales2022-01-012022-12-3113033865ns15:PoundSterling2022-01-012022-12-3113033865ns11:Director12022-01-012022-12-3113033865ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3113033865ns11:SmallEntities2022-01-012022-12-3113033865ns11:AuditExemptWithAccountantsReport2022-01-012022-12-3113033865ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3113033865ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-3113033865ns11:FullAccounts2022-01-012022-12-3113033865ns11:Director22022-01-012022-12-3113033865ns11:Director32022-01-012022-12-3113033865ns11:RegisteredOffice2022-01-012022-12-3113033865ns6:CurrentFinancialInstruments2022-12-3113033865ns6:CurrentFinancialInstruments2021-12-3113033865ns6:ShareCapital2022-12-3113033865ns6:ShareCapital2021-12-3113033865ns6:RetainedEarningsAccumulatedLosses2022-12-3113033865ns6:RetainedEarningsAccumulatedLosses2021-12-3113033865ns6:PlantMachinery2022-01-012022-12-3113033865ns6:PlantMachinery2022-12-3113033865ns6:CostValuation2021-12-3113033865ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3113033865ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31
REGISTERED NUMBER: 13033865 (England and Wales)






















Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Fintech Scion Limited

Fintech Scion Limited (Registered number: 13033865)






Contents of the Financial Statements
for the year ended 31 December 2022




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Accountants' Report 9

Fintech Scion Limited

Company Information
for the year ended 31 December 2022







DIRECTORS: Mr S Dodoun
Ms N Kastberg
Mr P A Renner





REGISTERED OFFICE: 1-2 Charterhouse Mews
London
EC1M 6BB





REGISTERED NUMBER: 13033865 (England and Wales)





ACCOUNTANTS: ansteybond
1-2 Charterhouse Mews
London
EC1M 6BB

Fintech Scion Limited (Registered number: 13033865)

Report of the Directors
for the year ended 31 December 2022

The directors present their report with the financial statements of the company for the year ended 31 December 2022.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

Mr S Dodoun
Ms N Kastberg
Mr P A Renner

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr S Dodoun - Director


30 September 2023

Fintech Scion Limited (Registered number: 13033865)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 755 -
Investments 5 200 200
955 200

CURRENT ASSETS
Debtors 6 26,313 60,300
Cash at bank 25,309 6,163
51,622 66,463
CREDITORS
Amounts falling due within one year 7 (299,393 ) (194,816 )
NET CURRENT LIABILITIES (247,771 ) (128,353 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(246,816

)

(128,153

)

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings (296,816 ) (178,153 )
SHAREHOLDERS' FUNDS (246,816 ) (128,153 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Fintech Scion Limited (Registered number: 13033865)

Balance Sheet - continued
31 December 2022


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 30 September 2023 and were signed on its behalf by:





Mr S Dodoun - Director


Fintech Scion Limited (Registered number: 13033865)

Notes to the Financial Statements
for the year ended 31 December 2022

1. STATUTORY INFORMATION

Fintech Scion 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.

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

The directors and shareholders have signalled their willingness to continue to financial support the entity for a period of at least 12 months. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Revenue recognition
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Fintech Scion Limited (Registered number: 13033865)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors
Trade and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - NIL ) .

Fintech Scion Limited (Registered number: 13033865)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 855
At 31 December 2022 855
DEPRECIATION
Charge for year 100
At 31 December 2022 100
NET BOOK VALUE
At 31 December 2022 755

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 200
NET BOOK VALUE
At 31 December 2022 200
At 31 December 2021 200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts owed by group undertakings 26,313 52,800
Other debtors - 7,500
26,313 60,300

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts owed to group undertakings 38,974 -
Other creditors 260,419 194,816
299,393 194,816

Fintech Scion Limited (Registered number: 13033865)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

8. RELATED PARTY DISCLOSURES

As at the balance sheet date, included within other creditors, is an amount of £209,507 (2021: £148,516) due to the director of the company Mr S. Dodun. The loan is interest free and repayable on demand.

As at the balance sheet date, included within other creditors, is an amount of £12,061 (2021: Dr £53,000) due to the company from Fintech Digital Solutions, a related party through common control. The loan is interest free and repayable on demand.

As at the balance sheet date, included within other debtors, is an amount of £9,900 due to the company from Fintech Digital Consulting, a related party through common control. The loan is interest free and repayable on demand.

As at the balance sheet date, included within other creditors, is an amount of £10,500 due to HWGC Capital, a related party through common control. The loan is interest free and repayable on demand.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Fintech Scion Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fintech Scion Limited for the year ended 31 December 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fintech Scion Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fintech Scion Limited and state those matters that we have agreed to state to the Board of Directors of Fintech Scion Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fintech Scion Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fintech Scion Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fintech Scion Limited. You consider that Fintech Scion Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fintech Scion Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






ansteybond
1-2 Charterhouse Mews
London
EC1M 6BB


30 September 2023