Company registration number 14372584 (England and Wales)
PROJECT SF TOPCO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PROJECT SF TOPCO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PROJECT SF TOPCO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Current assets
Debtors
3
40,427
Creditors: amounts falling due within one year
4
50,319
Net current assets
90,746
Capital and reserves
Called up share capital
5
920
Share premium account
91,080
Profit and loss reserves
(1,254)
Total equity
90,746

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

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 November 2024 and are signed on its behalf by:
Mr M J Schmid
Director
Company registration number 14372584 (England and Wales)
PROJECT SF TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Project SF Topco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Office 31, Strawberry Fields Digital Hub, Euxton Lane, Chorley, PR7 1PS.

1.1
Reporting period

This represents the first accounting period for the company from incorporation on 23 September 2022 to 31 December 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include #tErm6, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including 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. Financial liabilities classified as payable within one year are not amortised.

PROJECT SF TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Compound instruments

The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (excluding directors who are not remunerated) employed by the company during the period was:

2023
Number
Total
-
0
3
Debtors
2023
Amounts falling due within one year:
£
Amounts owed by group undertakings
40,427
4
Creditors: amounts falling due within one year
2023
£
Convertible loans
(51,519)
Other creditors
1,200
(50,319)
PROJECT SF TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary of 1p each
40,480
405
B Ordinary of 1p each
51,520
515
92,000
920

 

6
Financial commitments, guarantees and contingent liabilities

The company is party to a cross-guarantee which contains a fixed and floating charge over all of the property and undertaking of the company.

7
Related party transactions

In accordance with Section 1AC.35 the company has not disclosed transactions with the parent company.

2023-12-312022-09-23false21 November 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr G A HolmesMs E HoughtonMr M P MurphyMr J ZafarMr M J SchmidMs A J R SchmidDr D Murrayfalsefalse143725842022-09-232023-12-31143725842023-12-3114372584core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3114372584core:CurrentFinancialInstruments2023-12-3114372584core:ShareCapital2023-12-3114372584core:SharePremium2023-12-3114372584core:RetainedEarningsAccumulatedLosses2023-12-3114372584core:ShareCapitalOrdinaryShares2023-12-3114372584bus:Director52022-09-232023-12-3114372584bus:PrivateLimitedCompanyLtd2022-09-232023-12-3114372584bus:SmallCompaniesRegimeForAccounts2022-09-232023-12-3114372584bus:FRS1022022-09-232023-12-3114372584bus:AuditExemptWithAccountantsReport2022-09-232023-12-3114372584bus:Director12022-09-232023-12-3114372584bus:Director22022-09-232023-12-3114372584bus:Director32022-09-232023-12-3114372584bus:Director42022-09-232023-12-3114372584bus:Director62022-09-232023-12-3114372584bus:Director72022-09-232023-12-3114372584bus:FullAccounts2022-09-232023-12-31xbrli:purexbrli:sharesiso4217:GBP