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Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Sharksfin Holdings Limited

Sharksfin Holdings Limited (Registered number: 03409683)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sharksfin Holdings Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: M A Mills





REGISTERED OFFICE: 146 High Street
Billericay
Essex
CM12 9DF





REGISTERED NUMBER: 03409683 (England and Wales)





ACCOUNTANTS: Michael Letch & Partners LLP
Accountants and Statutory Auditors
146 High Street
Billericay
Essex
CM12 9DF

Sharksfin Holdings Limited (Registered number: 03409683)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 385,101 385,101
Investment property 6 5,800,000 3,729,579
6,185,101 4,114,680

CURRENT ASSETS
Stocks 40,000 40,000
Debtors 7 66,457,127 65,336,911
Cash at bank and in hand 915,974 510,165
67,413,101 65,887,076
CREDITORS
Amounts falling due within one year 8 10,209,515 10,655,615
NET CURRENT ASSETS 57,203,586 55,231,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,388,687

59,346,141

CAPITAL AND RESERVES
Called up share capital 50,500 50,500
Revaluation reserve 9 2,070,421 -
Own shares (4,736,404 ) (4,736,404 )
Retained earnings 66,004,170 64,032,045
SHAREHOLDERS' FUNDS 63,388,687 59,346,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Sharksfin Holdings Limited (Registered number: 03409683)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 December 2024 and were signed by:





M A Mills - Director


Sharksfin Holdings Limited (Registered number: 03409683)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Sharksfin Holdings 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Sharksfin Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents income received in respect of lending activities to various commercial limited companies. The revenue is recognised in the financial statements when interest is charged in accordance with the relevant loan agreements. Interest is charged at varying rates depending on the risk analysis of the borrower. Revenue in the Statement of Income includes interest income, finance charges and finance costs as permitted by applicable regulation and in pursuant to the loan agreement of the borrower. All interest and finance charges are recognised on an effective yield basis on the term of the loans.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the revaluation reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Basic financial instruments
A financial asset held as an equity instrument is recognised initially at the transaction price (including transaction costs).

At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date.

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.


Sharksfin Holdings Limited (Registered number: 03409683)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

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.

Investment income
Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2023
and 30 June 2024 1,449
DEPRECIATION
At 1 July 2023
and 30 June 2024 1,449
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 385,101
NET BOOK VALUE
At 30 June 2024 385,101
At 30 June 2023 385,101

Sharksfin Holdings Limited (Registered number: 03409683)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 3,729,579
Revaluations 2,070,421
At 30 June 2024 5,800,000
NET BOOK VALUE
At 30 June 2024 5,800,000
At 30 June 2023 3,729,579

The investment properties were valued on an open market basis on 18 August 2023 by P H H Wheaton of Fenn Wright LLP.

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 39,450,536 32,756,749
Accrued income 2,538,024 3,457,706
Prepayments 5,490 5,275
41,994,050 36,219,730

Amounts falling due after more than one year:
Trade debtors 24,463,077 29,117,181

Aggregate amounts 66,457,127 65,336,911

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 9,769
Amounts owed to group undertakings 858,000 858,000
Other creditors 100 100
Directors' current accounts 9,237,347 9,665,148
Deferred income 100,178 100,186
Accrued expenses 13,890 22,412
10,209,515 10,655,615

Sharksfin Holdings Limited (Registered number: 03409683)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. RESERVES
Revaluation
reserve
£   
Movement in year 2,070,421

At 30 June 2024 2,070,421

The reserve for 'own shares' arises in connection with the employees benefit trust (EBT), which, following the closure of that scheme in 2014, are held by a subsidiary company, D.D. Trustees Limited.