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Registration number: 11498262

Scintilla Systems Limited (formerly TalonBridge Limited)

Unaudited Financial Statements

for the Year Ended 31 August 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Scintilla Systems Limited (formerly TalonBridge Limited)

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Scintilla Systems Limited (formerly TalonBridge Limited)

Company Information

Directors

B Lovegrove

I D Zilberkweit

Dr C I Johnson

Registered office

The Innovation Centre Sci-Tech Daresbury
Keckwick Lane
Warrington
WA4 4FS

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Scintilla Systems Limited (formerly TalonBridge Limited)

Statement of Financial Position as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11

56

Current assets

 

Debtors

5

1,581

1,294

Cash at bank and in hand

 

-

166

 

1,581

1,460

Creditors: Amounts falling due within one year

6

(31,993)

(25,887)

Net current liabilities

 

(30,412)

(24,427)

Total assets less current liabilities

 

(30,401)

(24,371)

Creditors: Amounts falling due after more than one year

6

(31,961)

(29,279)

Net liabilities

 

(62,362)

(53,650)

Capital and reserves

 

Called up share capital

200

200

Retained earnings

(62,562)

(53,850)

Shareholders' deficit

 

(62,362)

(53,650)

For the financial year ending 31 August 2023 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................

I D Zilberkweit

Director

Company registration number: 11498262

 

Scintilla Systems Limited (formerly TalonBridge Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Innovation Centre Sci-Tech Daresbury
Keckwick Lane
Warrington
WA4 4FS
United Kingdom

The principal activity of the company is that of the provision of IT services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a loss for the year ended 31 August 2023 and had net liabilities of £62,362 at that date.

At 31 August 2023 an amount of £31,961 was due to an investor under an agreement whereby this amount is not payable until 2025 or may be converted into Ordinary Shares if certain conditions are met. The company has few fixed overheads and the directors are able to control expenditure as the company becomes established.

The company is seeking to form financial partnerships with established blue chip companies using the IP it now controls, and the directors believe this will be successful.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises turnover from services provided based upon the stage of completion once it is probable that future economic benefit will flow to the company.

 

Scintilla Systems Limited (formerly TalonBridge Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

over 4 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

 

Scintilla Systems Limited (formerly TalonBridge Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Computer equipment
 £

Total
£

Cost or valuation

At 1 September 2022

180

180

At 31 August 2023

180

180

Depreciation

At 1 September 2022

124

124

Charge for the year

45

45

At 31 August 2023

169

169

Carrying amount

At 31 August 2023

11

11

At 31 August 2022

56

56

5

Debtors

2023
£

2022
£

Trade debtors

1,051

-

Other debtors

530

1,294

1,581

1,294

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Loans and borrowings

10

-

Trade creditors

16,392

17,667

Taxation and social security

1,171

-

Accruals and deferred income

6,000

3,000

Other creditors

8,420

5,220

31,993

25,887

Creditors: amounts falling due after more than one year

2023
£

2022
£

Loans and borrowings

31,961

29,279