Silverfin false 30/04/2023 01/05/2022 30/04/2023 B M Fitzpatrick 05/04/2004 S B T Fitzpatrick 05/04/2004 22 November 2023 The principal activity of the Company during the financial year was that of marketing services. 05094384 2023-04-30 05094384 bus:Director1 2023-04-30 05094384 bus:Director2 2023-04-30 05094384 2022-04-30 05094384 core:CurrentFinancialInstruments 2023-04-30 05094384 core:CurrentFinancialInstruments 2022-04-30 05094384 core:ShareCapital 2023-04-30 05094384 core:ShareCapital 2022-04-30 05094384 core:RetainedEarningsAccumulatedLosses 2023-04-30 05094384 core:RetainedEarningsAccumulatedLosses 2022-04-30 05094384 core:OtherResidualIntangibleAssets 2022-04-30 05094384 core:OtherResidualIntangibleAssets 2023-04-30 05094384 core:FurnitureFittings 2022-04-30 05094384 core:ComputerEquipment 2022-04-30 05094384 core:FurnitureFittings 2023-04-30 05094384 core:ComputerEquipment 2023-04-30 05094384 bus:OrdinaryShareClass1 2023-04-30 05094384 2022-05-01 2023-04-30 05094384 bus:FullAccounts 2022-05-01 2023-04-30 05094384 bus:SmallEntities 2022-05-01 2023-04-30 05094384 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05094384 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05094384 bus:Director1 2022-05-01 2023-04-30 05094384 bus:Director2 2022-05-01 2023-04-30 05094384 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-05-01 2023-04-30 05094384 core:OtherResidualIntangibleAssets 2022-05-01 2023-04-30 05094384 core:FurnitureFittings core:TopRangeValue 2022-05-01 2023-04-30 05094384 core:ComputerEquipment core:TopRangeValue 2022-05-01 2023-04-30 05094384 2021-05-01 2022-04-30 05094384 core:FurnitureFittings 2022-05-01 2023-04-30 05094384 core:ComputerEquipment 2022-05-01 2023-04-30 05094384 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 05094384 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05094384 (England and Wales)

SEAN FITZPATRICK LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

SEAN FITZPATRICK LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

SEAN FITZPATRICK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
SEAN FITZPATRICK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 350
Tangible assets 4 624 937
624 1,287
Current assets
Debtors 5 78,609 174,350
Cash at bank and in hand 822,236 137,661
900,845 312,011
Creditors: amounts falling due within one year 6 ( 229,529) ( 310,652)
Net current assets 671,316 1,359
Total assets less current liabilities 671,940 2,646
Provision for liabilities ( 156) 0
Net assets 671,784 2,646
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 671,782 2,644
Total shareholders' funds 671,784 2,646

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sean Fitzpatrick Limited (registered number: 05094384) were approved and authorised for issue by the Director on 22 November 2023. They were signed on its behalf by:

B M Fitzpatrick
Director
SEAN FITZPATRICK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
SEAN FITZPATRICK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sean Fitzpatrick Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Flat 1, 69 Ladbroke Grove, London, W11 2PD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 May 2022 3,500 3,500
At 30 April 2023 3,500 3,500
Accumulated amortisation
At 01 May 2022 3,150 3,150
Charge for the financial year 350 350
At 30 April 2023 3,500 3,500
Net book value
At 30 April 2023 0 0
At 30 April 2022 350 350

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 May 2022 5,953 8,971 14,924
At 30 April 2023 5,953 8,971 14,924
Accumulated depreciation
At 01 May 2022 5,953 8,034 13,987
Charge for the financial year 0 313 313
At 30 April 2023 5,953 8,347 14,300
Net book value
At 30 April 2023 0 624 624
At 30 April 2022 0 937 937

5. Debtors

2023 2022
£ £
Trade debtors 13,800 36,520
Amounts owed by directors 0 137,830
Accrued income 64,809 0
78,609 174,350

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 1,314
Amounts owed to directors 6,806 0
Accruals 2,000 258,368
Taxation and social security 220,723 50,970
229,529 310,652

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed (to)/by a director (6,806) 137,830

An interest rate of 2.0% has been charged on this balance and there is no fixed date for repayment.