Speychain Limited 14718933 false 2023-03-09 2023-12-31 2023-12-31 The principal activity of the company is Financial intermediation not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 14718933 2023-03-09 2023-12-31 14718933 2023-12-31 14718933 bus:OrdinaryShareClass1 2023-12-31 14718933 core:RetainedEarningsAccumulatedLosses 2023-12-31 14718933 core:ShareCapital 2023-12-31 14718933 core:CurrentFinancialInstruments 2023-12-31 14718933 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14718933 bus:SmallEntities 2023-03-09 2023-12-31 14718933 bus:AuditExemptWithAccountantsReport 2023-03-09 2023-12-31 14718933 bus:FullAccounts 2023-03-09 2023-12-31 14718933 bus:SmallCompaniesRegimeForAccounts 2023-03-09 2023-12-31 14718933 bus:RegisteredOffice 2023-03-09 2023-12-31 14718933 bus:Director1 2023-03-09 2023-12-31 14718933 bus:OrdinaryShareClass1 2023-03-09 2023-12-31 14718933 bus:PrivateLimitedCompanyLtd 2023-03-09 2023-12-31 14718933 countries:EnglandWales 2023-03-09 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14718933

Speychain Limited

Unaudited Filleted Financial Statements

for the Period from 9 March 2023 to 31 December 2023

Pages for filing with Registrar

 

Speychain Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Speychain Limited

Company Information

Director

James Von Claer

Registered office

20 Arlington Street
London
SW1A 1RG

Registered number

14718933

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Speychain Limited

(Registration number: 14718933)
Balance Sheet as at 31 December 2023

Note

2023
£

Current assets

 

Debtors

4

24,143

Cash at bank and in hand

 

238

 

24,381

Creditors: Amounts falling due within one year

5

(200,482)

Net liabilities

 

(176,101)

Capital and reserves

 

Called up share capital

6

2

Profit and loss account

(176,103)

Total equity

 

(176,101)

 

Speychain Limited

(Registration number: 14718933)
Balance Sheet as at 31 December 2023

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges 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.

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 Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 18 September 2024
 

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

James Von Claer
Director

 

Speychain Limited

Notes to the Unaudited Financial Statements for the Period from 9 March 2023 to 31 December 2023

1

Statutory information

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

The address of its registered office is:
20 Arlington Street
London
SW1A 1RG

2

Accounting policies

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.

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.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

In assessing whether the financial statements should be prepared on a going concern basis, the director has considered a period of twelve months from the date of these financial statements.

As the company is at pre-revenue stage, it contines to rely largely on equity investment to meet its ongoing funding requirements. The director is actively seeking investment and confident that they will be successful in achieving the funding they require to meet the company's liabilities as they fall due.

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

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.

 

Speychain Limited

Notes to the Unaudited Financial Statements for the Period from 9 March 2023 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

4

Debtors: amounts falling due within one year

2023
£

Other debtors

24,143

24,143

 

Speychain Limited

Notes to the Unaudited Financial Statements for the Period from 9 March 2023 to 31 December 2023

5

Creditors

Note

2023
£

Amounts falling due within one year

 

Trade creditors

 

39,885

Amounts owed to connected parties

129,150

Amounts owed to connected parties

 

25,000

Taxation and social security

 

1,652

Other creditors

 

2,395

Accruals

 

2,400

 

200,482

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

2

2

     

On incorporation 2 Ordinary shares of £1 were issued. The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption.