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REGISTERED NUMBER: 04905190 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

SUBSTANCE001 LIMITED

SUBSTANCE001 LIMITED (REGISTERED NUMBER: 04905190)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SUBSTANCE001 LIMITED

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr A J Freedman
Mr C J Swift





REGISTERED OFFICE: 159 High Street
Barnet
Hertfordshire
EN5 5SU





REGISTERED NUMBER: 04905190 (England and Wales)





ACCOUNTANTS: Joshua Leigh & Co Ltd
159 High Street
Barnet
Hertfordshire
EN5 5SU

SUBSTANCE001 LIMITED (REGISTERED NUMBER: 04905190)

Abridged Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,299 11,381
Tangible assets 5 87,723 56,713
89,022 68,094

CURRENT ASSETS
Debtors 2,622,408 1,704,802
Cash at bank 41,203 1,061,498
2,663,611 2,766,300
CREDITORS
Amounts falling due within one year (932,296 ) (582,771 )
NET CURRENT ASSETS 1,731,315 2,183,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,820,337

2,251,623

CREDITORS
Amounts falling due after more than one
year

(222,334

)

(314,334

)
NET ASSETS 1,598,003 1,937,289

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 1,597,903 1,937,189
SHAREHOLDERS' FUNDS 1,598,003 1,937,289

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

SUBSTANCE001 LIMITED (REGISTERED NUMBER: 04905190)

Abridged Balance Sheet - continued
31 January 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




Mr A J Freedman - Director



Mr C J Swift - Director


SUBSTANCE001 LIMITED (REGISTERED NUMBER: 04905190)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Substance001 Limited 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.

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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax, together with the uninvoiced value of services provided under contracts to the extent that there is a right to consideration arising during the accounting period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property are being amortised evenly over their estimated useful life of three years.

Website and software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and Over the term of the lease

Financial instruments
Basic financial instruments are recognised at amortised 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.

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.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 29 ) .

SUBSTANCE001 LIMITED (REGISTERED NUMBER: 04905190)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 376,248
AMORTISATION
At 1 February 2023 364,867
Amortisation for year 10,082
At 31 January 2024 374,949
NET BOOK VALUE

At 31 January 2024 1,299
At 31 January 2023 11,381

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 475,790
Additions 74,478
At 31 January 2024 550,268
DEPRECIATION
At 1 February 2023 419,077
Charge for year 43,468
At 31 January 2024 462,545
NET BOOK VALUE
At 31 January 2024 87,723
At 31 January 2023 56,713