Silverfin false false 30/09/2024 01/04/2023 30/09/2024 Simon Robert Laslett 17/03/2005 Stephen Charles Lobb 17/03/2005 17 February 2025 The principal activity of the Company during the financial year was that of commercial property agents. 05396802 2024-09-30 05396802 bus:Director1 2024-09-30 05396802 bus:Director2 2024-09-30 05396802 2023-03-31 05396802 core:CurrentFinancialInstruments 2024-09-30 05396802 core:CurrentFinancialInstruments 2023-03-31 05396802 core:ShareCapital 2024-09-30 05396802 core:ShareCapital 2023-03-31 05396802 core:RetainedEarningsAccumulatedLosses 2024-09-30 05396802 core:RetainedEarningsAccumulatedLosses 2023-03-31 05396802 core:FurnitureFittings 2023-03-31 05396802 core:ComputerEquipment 2023-03-31 05396802 core:FurnitureFittings 2024-09-30 05396802 core:ComputerEquipment 2024-09-30 05396802 2022-03-31 05396802 bus:OrdinaryShareClass1 2024-09-30 05396802 2023-04-01 2024-09-30 05396802 bus:FilletedAccounts 2023-04-01 2024-09-30 05396802 bus:SmallEntities 2023-04-01 2024-09-30 05396802 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-09-30 05396802 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 05396802 bus:Director1 2023-04-01 2024-09-30 05396802 bus:Director2 2023-04-01 2024-09-30 05396802 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-09-30 05396802 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-09-30 05396802 2022-04-01 2023-03-31 05396802 core:FurnitureFittings 2023-04-01 2024-09-30 05396802 core:ComputerEquipment 2023-04-01 2024-09-30 05396802 bus:OrdinaryShareClass1 2023-04-01 2024-09-30 05396802 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05396802 (England and Wales)

2SL LIMITED

Unaudited Financial Statements
For the financial period from 01 April 2023 to 30 September 2024
Pages for filing with the registrar

2SL LIMITED

Unaudited Financial Statements

For the financial period from 01 April 2023 to 30 September 2024

Contents

2SL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
2SL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 30.09.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 0 1,868
0 1,868
Current assets
Debtors 4 677 0
Cash at bank and in hand 16,166 13,017
16,843 13,017
Creditors: amounts falling due within one year 5 ( 8,395) ( 4,218)
Net current assets 8,448 8,799
Total assets less current liabilities 8,448 10,667
Provision for liabilities 6 0 ( 355)
Net assets 8,448 10,312
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 8,348 10,212
Total shareholders' funds 8,448 10,312

For the financial period ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of 2SL Limited (registered number: 05396802) were approved and authorised for issue by the Board of Directors on 17 February 2025. They were signed on its behalf by:

Simon Robert Laslett
Director
2SL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 September 2024
2SL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 September 2024
1. Accounting policies

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

General information and basis of accounting

2SL 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 Tregarland Cottage, Morval, Looe, PL13 1PP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

During 2024 the directors made the decision that the Company would cease trading in the next 12 months. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

The reporting period length for the period has been extended to 18 months at the decision of the directors. This was done as the company is ceasing to trade. Therefore, the 2023 comparative amounts presented in the financial statements (excluding the related notes) are not entirely comparable.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line
Computer equipment 3 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
01.04.2023 to
30.09.2024
Year ended
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 April 2023 199 9,187 9,386
Disposals ( 199) ( 9,187) ( 9,386)
At 30 September 2024 0 0 0
Accumulated depreciation
At 01 April 2023 199 7,319 7,518
Charge for the financial period 0 961 961
Disposals ( 199) ( 8,280) ( 8,479)
At 30 September 2024 0 0 0
Net book value
At 30 September 2024 0 0 0
At 31 March 2023 0 1,868 1,868

4. Debtors

30.09.2024 31.03.2023
£ £
VAT recoverable 656 0
Other debtors 21 0
677 0

5. Creditors: amounts falling due within one year

30.09.2024 31.03.2023
£ £
Accruals 7,539 1,570
Corporation tax 856 286
Other taxation and social security 0 2,362
8,395 4,218

6. Deferred tax

30.09.2024 31.03.2023
£ £
At the beginning of financial period/year ( 355) 0
Credited/(charged) to the Statement of Income and Retained Earnings 355 ( 355)
At the end of financial period/year 0 ( 355)

7. Called-up share capital

30.09.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100