Registration number:
Scintilla Systems Limited (formerly TalonBridge Limited)
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Scintilla Systems Limited (formerly TalonBridge Limited)
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Scintilla Systems Limited (formerly TalonBridge Limited)
Company Information
Directors |
B Lovegrove I D Zilberkweit Dr C I Johnson |
Registered office |
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Accountants |
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Scintilla Systems Limited (formerly TalonBridge Limited)
Statement of Financial Position as at 31 August 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Retained earnings |
(62,562) |
(53,850) |
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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:
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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
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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
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal activity of the company is that of the provision of IT services.
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Scintilla Systems Limited (formerly TalonBridge Limited)
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Tangible assets |
Computer equipment |
Total |
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Cost or valuation |
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At 1 September 2022 |
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At 31 August 2023 |
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Depreciation |
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At 1 September 2022 |
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Charge for the year |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Debtors |
2023 |
2022 |
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Trade debtors |
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- |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Loans and borrowings |
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- |
Trade creditors |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
2023 |
2022 |
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Loans and borrowings |
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