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REGISTERED NUMBER: 09219049 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOCRATIC CAPITAL MANAGEMENT LTD

SOCRATIC CAPITAL MANAGEMENT LTD (REGISTERED NUMBER: 09219049)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOCRATIC CAPITAL MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D J Graham
S D A Graham





REGISTERED OFFICE: International House Cornhill
London
EC3V 3NG





REGISTERED NUMBER: 09219049 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

SOCRATIC CAPITAL MANAGEMENT LTD (REGISTERED NUMBER: 09219049)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 920 1,265

CURRENT ASSETS
Debtors 5 29,630 51,458
Investments 6 479,251 332,476
Cash at bank 58,101 167,392
566,982 551,326
CREDITORS
Amounts falling due within one year 7 1,233,122 1,260,761
NET CURRENT LIABILITIES (666,140 ) (709,435 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(665,220

)

(708,170

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve (87,852 ) (153,338 )
Retained earnings (578,368 ) (555,832 )
SHAREHOLDERS' FUNDS (665,220 ) (708,170 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





D J Graham - Director


SOCRATIC CAPITAL MANAGEMENT LTD (REGISTERED NUMBER: 09219049)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Socratic Capital Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
Due to the ongoing support of the company's principal shareholders the directors believe that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the forseeable future.

If the company were unable to continue in operational existence for the forseeable future, adjustments would be necessary to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Significant judgements and estimates
Deferred tax

Deferred tax is provided on all unrealised gains or losses on the revaluation of the investments at the tax rate expected to apply at the date that the gain or loss is realised.

Turnover
Turnover represents the proceeds from the disposal of investments in the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

SOCRATIC CAPITAL MANAGEMENT LTD (REGISTERED NUMBER: 09219049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Current asset investments are included at their market value at the balance sheet date. Any revaluation is allocated to the fair value reserve account net of deferred tax.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Finance income and expense
Finance income includes interest receivable and dividend income receivable recognised when the right to receive payment has been established.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 1,380
DEPRECIATION
At 1 April 2023 115
Charge for year 345
At 31 March 2024 460
NET BOOK VALUE
At 31 March 2024 920
At 31 March 2023 1,265

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 29,630 51,458

SOCRATIC CAPITAL MANAGEMENT LTD (REGISTERED NUMBER: 09219049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 427,359 305,133
Other 51,892 27,343
479,251 332,476

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,154 2,375
Other creditors 1,230,968 1,258,386
1,233,122 1,260,761

8. DEFERRED TAX
£   
Balance at 1 April 2023 (51,458 )
Provided during year 21,828
Balance at 31 March 2024 (29,630 )

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors £1,229,316 (2023: £1,254,070) in respect of their directors' loan account. The balance is not secured and has no repayment terms. During the year the company paid £6,000 (2023: £6,000) of interest.