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Registration number: 09394197

Shoreditch Ops Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Shoreditch Ops Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Shoreditch Ops Ltd

Company Information

Director

Hasan Veldstra

Registered office

Suite 23
Fifth Floor
63-66 Hatton Garden
London
EC1N 8LE

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Shoreditch Ops Ltd

(Registration number: 09394197)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

257

515

Current assets

 

Debtors

4

103,681

99,653

Cash at bank and in hand

 

79,745

90,324

 

183,426

189,977

Creditors: Amounts falling due within one year

5

(544,190)

(448,139)

Net current liabilities

 

(360,764)

(258,162)

Net liabilities

 

(360,507)

(257,647)

Capital and reserves

 

Called up share capital

6

110

110

Retained earnings

(360,617)

(257,757)

Shareholders' deficit

 

(360,507)

(257,647)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 January 2025
 

.........................................
Hasan Veldstra
Director

 

Shoreditch Ops Ltd

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

There was a net deficiency of assets of £360,507 (2023: £257,647) at the balance sheet date. This includes the loan of £530,287 from parent company. Based on the directors' assessment and the continued financial support from the parent company to fund the Company, the accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Shoreditch Ops Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% SL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Shoreditch Ops Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

3

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

1,031

1,031

At 31 January 2024

1,031

1,031

Depreciation

At 1 February 2023

516

516

Charge for the year

258

258

At 31 January 2024

774

774

Carrying amount

At 31 January 2024

257

257

At 31 January 2023

515

515

4

Debtors

Note

2024
£

2023
£

Other debtors

 

103,681

97,934

Income tax asset

-

1,719

 

103,681

99,653

 

Shoreditch Ops Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

530,288

413,061

Taxation and social security

 

10,052

-

Accruals and deferred income

 

2,250

35,078

Other creditors

 

1,600

-

 

544,190

448,139

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.10 each

1,100

110

1,100

110

       

7

Parent and ultimate parent undertaking

The company's immediate parent is Artillery Software Inc, incorporated in State of Delaware,USA.