Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr B Downing 25/12/2024 11/08/2023 Ms S Macdonald 26/04/2022 03 February 2025 no description of principal activity 14070116 2024-04-30 14070116 bus:Director1 2024-04-30 14070116 bus:Director2 2024-04-30 14070116 2023-04-30 14070116 core:CurrentFinancialInstruments 2024-04-30 14070116 core:CurrentFinancialInstruments 2023-04-30 14070116 core:ShareCapital 2024-04-30 14070116 core:ShareCapital 2023-04-30 14070116 core:RetainedEarningsAccumulatedLosses 2024-04-30 14070116 core:RetainedEarningsAccumulatedLosses 2023-04-30 14070116 core:ComputerEquipment 2023-04-30 14070116 core:ComputerEquipment 2024-04-30 14070116 2023-05-01 2024-04-30 14070116 bus:FilletedAccounts 2023-05-01 2024-04-30 14070116 bus:SmallEntities 2023-05-01 2024-04-30 14070116 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 14070116 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14070116 bus:Director1 2023-05-01 2024-04-30 14070116 bus:Director2 2023-05-01 2024-04-30 14070116 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 14070116 core:ComputerEquipment core:TopRangeValue 2023-05-01 2024-04-30 14070116 2022-04-26 2023-04-30 14070116 core:ComputerEquipment 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 14070116 (England and Wales)

SNCTUARE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

SNCTUARE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

SNCTUARE LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
SNCTUARE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR Mr B Downing (Appointed 11 August 2023, Resigned 25 December 2024)
Ms S Macdonald
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 14070116 (England and Wales)
ACCOUNTANT Gravita Business Services Limited
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
SNCTUARE LIMITED

BALANCE SHEET

As at 30 April 2024
SNCTUARE LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 30.04.2024 30.04.2023
£ £
Fixed assets
Tangible assets 3 999 0
999 0
Current assets
Debtors 4 3,996 2,748
Cash at bank and in hand 9,582 0
13,578 2,748
Creditors: amounts falling due within one year 5 ( 133,471) ( 62,652)
Net current liabilities (119,893) (59,904)
Total assets less current liabilities (118,894) (59,904)
Net liabilities ( 118,894) ( 59,904)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 118,895 ) ( 59,905 )
Total shareholder's deficit ( 118,894) ( 59,904)

For the financial year ending 30 April 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 financial statements of Snctuare Limited (registered number: 14070116) were approved and authorised for issue by the Director on 03 February 2025. They were signed on its behalf by:

Ms S Macdonald
Director
SNCTUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
SNCTUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Snctuare Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

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 presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The comparatives of the financial statements represent longer period of accounts for the period between 26 April 2022 and 30 April 2023 Hence the financial statements are not entirely comparable.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

Year ended
30.04.2024
Period from
26.04.2022 to
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 May 2023 0 0
Additions 1,249 1,249
At 30 April 2024 1,249 1,249
Accumulated depreciation
At 01 May 2023 0 0
Charge for the financial year 250 250
At 30 April 2024 250 250
Net book value
At 30 April 2024 999 999
At 30 April 2023 0 0

4. Debtors

30.04.2024 30.04.2023
£ £
Other debtors 3,996 2,748

5. Creditors: amounts falling due within one year

30.04.2024 30.04.2023
£ £
Trade creditors 4,646 0
Other creditors 128,825 62,652
133,471 62,652