Silverfin false false 30/04/2024 24/11/2022 30/04/2024 J Etheridge 24/11/2022 J Mallon 24/11/2022 J Stalets 24/11/2022 19 August 2024 The principal activity of the company is that of trading crypto tokens and consultancy.. 14503800 2024-04-30 14503800 bus:Director1 2024-04-30 14503800 bus:Director2 2024-04-30 14503800 bus:Director3 2024-04-30 14503800 core:CurrentFinancialInstruments 2024-04-30 14503800 core:ShareCapital 2024-04-30 14503800 core:RetainedEarningsAccumulatedLosses 2024-04-30 14503800 bus:OrdinaryShareClass1 2024-04-30 14503800 2022-11-24 2024-04-30 14503800 bus:FilletedAccounts 2022-11-24 2024-04-30 14503800 bus:SmallEntities 2022-11-24 2024-04-30 14503800 bus:AuditExemptWithAccountantsReport 2022-11-24 2024-04-30 14503800 bus:PrivateLimitedCompanyLtd 2022-11-24 2024-04-30 14503800 bus:Director1 2022-11-24 2024-04-30 14503800 bus:Director2 2022-11-24 2024-04-30 14503800 bus:Director3 2022-11-24 2024-04-30 14503800 bus:OrdinaryShareClass1 2022-11-24 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14503800 (England and Wales)

COPIOSA LABS LTD

Unaudited Financial Statements
For the financial period from 24 November 2022 to 30 April 2024
Pages for filing with the registrar

COPIOSA LABS LTD

Unaudited Financial Statements

For the financial period from 24 November 2022 to 30 April 2024

Contents

COPIOSA LABS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
COPIOSA LABS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 30.04.2024
£
Current assets
Stocks 3 7,623
Debtors 4 3,798
11,421
Creditors: amounts falling due within one year 5 ( 11,294)
Net current assets 127
Total assets less current liabilities 127
Net assets 127
Capital and reserves
Called-up share capital 6 900
Profit and loss account ( 773 )
Total shareholders' funds 127

For the financial period ending 30 April 2024 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 Copiosa Labs Ltd (registered number: 14503800) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J Mallon
Director

19 August 2024

COPIOSA LABS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 November 2022 to 30 April 2024
COPIOSA LABS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 November 2022 to 30 April 2024
1. Accounting policies

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

General information and basis of accounting

Copiosa Labs Ltd (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 27 Old Gloucester Street, London, WC1N 3AX, 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

In 2024 the directors made the decision that the company would cease trading and that the residual trading activities be sold. The ceasing of trade was finalised in August 2024. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the company's assets have been written down to their net realisable value.

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.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services:

Turnover from contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:
• The amount of revenue can be measure reliably:
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measure reliably.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

2. Employees

Period from
24.11.2022 to
30.04.2024
Number
Monthly average number of persons employed by the company during the period, including directors 3

3. Stocks

30.04.2024
£
Stocks 7,623

4. Debtors

30.04.2024
£
VAT recoverable 3,798

5. Creditors: amounts falling due within one year

30.04.2024
£
Amounts owed to directors 11,294

6. Called-up share capital

30.04.2024
£
Allotted, called-up and fully-paid
900 Ordinary shares of £ 1.00 each 900