SEQUENT (U.K.) LIMITED

Company Registration Number:
00865402 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

SEQUENT (U.K.) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

SEQUENT (U.K.) LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments: 3 100 100
Total fixed assets: 100 100
Current assets
Stocks: 0 0
Debtors:   928,295 1,188,434
Cash at bank and in hand: 48,203 104,630
Investments:   0 0
Total current assets: 976,498 1,293,064
Creditors: amounts falling due within one year: 4 (471,853) (619,178)
Net current assets (liabilities): 504,645 673,886
Total assets less current liabilities: 504,745 673,986
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 504,745 673,986
Capital and reserves
Called up share capital: 250,000 250,000
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 254,745 423,986
Shareholders funds: 504,745 673,986

The notes form part of these financial statements

SEQUENT (U.K.) LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 February 2024
and signed on behalf of the board by:

Name: Elizabeth Bruwer and Maxence Luethi
Status: Director

The notes form part of these financial statements

SEQUENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises fees billed for trust management services rendered excluding VAT, and is recognised as contractual work was performed in relation to fees. Fees received in advance for services not yet performed are carried in the balance sheet as deferred income. Accrued income is recognised as time charged less provision for non-recoverable time, where a right to consideration arises through the providing of services.

Other accounting policies

PRESENTATION AND FUNCTIONAL CURRENCY - These financial statements are presented in Pound Sterling (GBP), which is the Company’s functional currency. This currency has been chosen due to the primary economic environment in which the Company operates and in which it primarily generates and expends cash. Amounts shown in the financial statements are rounded up or down to the nearest Pound Sterling and, as a result, there may be some trivial differences in the totals. USE OF ESTIMATES AND JUDGEMENTS - The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. An individual impairment assessment was performed for all Debtors positions outstanding for more than three months and a general provision was made based on historical data and Management's estimate of future events for Debtors positions below three months. The valuation of accrued income is based on historical recovery rates by fee type and client status adjusted based on Management's estimate of future events. No other significant estimates and judgements have been made. INVESTMENTS - Investments held as fixed assets are shown at cost less provision for impairment. DEFERRED TAXATION - Provision is made for deferred tax assets and liabilities arising from material timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted. FINANCIAL INSTRUMENTS - The Company’s cash at bank and trade and other debtors and its trade and other creditors and bank overdrafts are measured initially at the transaction price, including transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Accrued fee income is calculated as total unbilled staff time charged less a provision to reduce it to estimated cost and is included in the Statement of Financial Position under the heading of Debtors. FOREIGN CURRENCY - Foreign currency transactions are translated at the rates ruling when they occurred. Foreign currency monetary assets and liabilities are translated at the rates ruling at the balance sheet dates. Any differences are taken to the Statement of Comprehensive Income. GOING CONCERN - The directors have carefully considered the business environment. The results show no material uncertainties in relation to the going concern basis of preparation and consequently these financial statements have been prepared on a going concern basis. The Company have adequate liquid assets and the support from its shareholder.

SEQUENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 7 7

SEQUENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Fixed investments

The Company holds the entire issued share capital of Sequent Nominees Limited; 100 shares of £1 each. This subsidiary is registered in England and Wales, and does not trade.

SEQUENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

31/12/2023: Trade creditors GBP 22,260; Other creditors intragroup GBP 90; Corporation tax GBP 63,000; Social security and other taxes GBP 0; Accrued expenses GBP 385,878; VAT payable GBP 625. 31/12/2022: Trade creditors GBP 19,215; Other creditors intragroup GBP 90; Corporation tax GBP 89,946; Social security and other taxes GBP 49,193; Accrued expenses GBP 448,572; VAT payable GBP 12,163.

SEQUENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Post balance sheet events

No events have occurred since the balance sheet date which would change the financial position of the Company and which would require adjustment or disclosure in the 2023 Annual Report now presented.