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Company No: 10543440 (England and Wales)

UKIYO PUBLISHING LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

UKIYO PUBLISHING LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

UKIYO PUBLISHING LIMITED

BALANCE SHEET

As at 31 January 2024
UKIYO PUBLISHING LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,179 6,852
6,179 6,852
Current assets
Debtors 4 55,650 99,106
Investments 5 409,766 410,943
Cash at bank and in hand 739,897 638,585
1,205,313 1,148,634
Creditors: amounts falling due within one year 6 ( 122,071) ( 201,236)
Net current assets 1,083,242 947,398
Total assets less current liabilities 1,089,421 954,250
Provision for liabilities 7 ( 1,545) ( 1,682)
Net assets 1,087,876 952,568
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account 1,087,875 952,567
Total shareholders' funds 1,087,876 952,568

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of UKIYO Publishing Limited (registered number: 10543440) were approved and authorised for issue by the Director on 16 August 2024. They were signed on its behalf by:

P Hann
Director
UKIYO PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
UKIYO PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
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

UKIYO Publishing 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 78 De Frene Road, Sydenham, London, SE26 4AG, England, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Current tax
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.

The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Current and deferred tax assets and liabilities are not discounted.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 debtors 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2023 36,280 36,280
Additions 2,517 2,517
At 31 January 2024 38,797 38,797
Accumulated depreciation
At 01 February 2023 29,428 29,428
Charge for the financial year 3,190 3,190
At 31 January 2024 32,618 32,618
Net book value
At 31 January 2024 6,179 6,179
At 31 January 2023 6,852 6,852

4. Debtors

2024 2023
£ £
Trade debtors 0 4,525
Other debtors 55,650 94,581
55,650 99,106

5. Current asset investments

2024 2023
£ £
Other investments – at cost less impairment 409,766 400,000

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,616 695
Taxation and social security 27,224 65,855
Other creditors 90,231 134,686
122,071 201,236

7. Provision for liabilities

2024 2023
£ £
Deferred tax 1,545 1,682

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5 A ordinary shares of £ 0.10 each (2023: nil shares) 0.50 0
5 B ordinary shares of £ 0.10 each (2023: nil shares) 0.50 0
Nil Ordinary shares (2023: 10 shares of £ 0.10 each) 0 1.00
1.00 1.00

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed to director (3,772) (7,967)

The above is provided interest free, is repayable on demand and is unsecured.

Other related party transactions

2024 2023
£ £
Amount owed to shareholder (4,156) (5,591)

The above is provided interest free, is repayable on demand and is unsecured.