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REGISTERED NUMBER: 14667359 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

16 FEBRUARY 2023 TO 31 DECEMBER 2023

FOR

WARMLYVAULT LIMITED

WARMLYVAULT LIMITED (REGISTERED NUMBER: 14667359)

CONTENTS OF THE FINANCIAL STATEMENTS
for the period 16 February 2023 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WARMLYVAULT LIMITED

COMPANY INFORMATION
for the period 16 February 2023 to 31 December 2023







DIRECTOR: A Munshi





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 14667359 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

WARMLYVAULT LIMITED (REGISTERED NUMBER: 14667359)

BALANCE SHEET
31 December 2023

Notes £   
CURRENT ASSETS
Debtors 4 423,886
Cash at bank 35,838
459,724
CREDITORS
Amounts falling due within one year 5 (463,772 )
NET CURRENT LIABILITIES (4,048 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,048

)

CAPITAL AND RESERVES
Called up share capital 6 1
Retained earnings (4,049 )
SHAREHOLDERS' FUNDS (4,048 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2024 and were signed by:





A Munshi - Director


WARMLYVAULT LIMITED (REGISTERED NUMBER: 14667359)

NOTES TO THE FINANCIAL STATEMENTS
for the period 16 February 2023 to 31 December 2023


1. STATUTORY INFORMATION

Warmlyvault Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is 20-22 Wenlock Road, London, United Kingdom, N1 7GU and the registered number is 14667359.

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.

The presentational currency of the financial statements is Pound Sterling (£) and figures are rounded to the nearest £1.

Preparation of consolidated financial statements
The group for which consolidated financial statements are prepared, which include the results of this company, is that headed by Fairscore Ltd. The head office is located at 20-22 Wenlock Road, London, N1 7GU.

Going concern
At the year end the company had net current liabilities of £4,048 and losses of £4,049. The director has confirmed that the group will continue to support the company to enable it to pay its liabilities as they fall due for the foreseeable future. As such, the director has prepared these financial statements on a going concern basis.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of goods and services
Revenue from a contract to provide goods and services is recognised in the period in which the goods and services are provided in accordance with the stage completion of the contract when all of the following conditions are satisfied.

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contact at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


WARMLYVAULT LIMITED (REGISTERED NUMBER: 14667359)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 16 February 2023 to 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Loans issued to customers
Loans issued to customers are issued on fixed terms and are initially stated on the balance sheet as the principal due for repayment amounts only. Amounts falling within one year are calculated on the interest set at the start of the loan, assuming regular repayments every 30 days, with interest charged every 30 days. Any principle repayments due over one year are classified as non-current assets on the balance sheet.

Provisions are made against loans based on historic data available about expected loss rates. Where a loan experiences a significant increase in credit risk, provisions are then recognised based on lifetime expected losses.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. DEBTORS
£   
Amounts falling due within one year:
Other debtors 1
Customer loans 27,337
27,338

Amounts falling due after more than one year:
Customer loans 396,548

Aggregate amounts 423,886

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 159
Other creditors 463,613
463,772

WARMLYVAULT LIMITED (REGISTERED NUMBER: 14667359)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 16 February 2023 to 31 December 2023


6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary 1 1

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be Aseem Munshi by virtue of his shareholding in the ultimate parent company, Fairscore Limited.