Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Ariella Indigo 07/09/2018 14 February 2025 The principal activity of the Company during the financial year was that of spiritual advice and training. 11558908 2024-09-30 11558908 bus:Director1 2024-09-30 11558908 2023-09-30 11558908 core:CurrentFinancialInstruments 2024-09-30 11558908 core:CurrentFinancialInstruments 2023-09-30 11558908 core:Non-currentFinancialInstruments 2024-09-30 11558908 core:Non-currentFinancialInstruments 2023-09-30 11558908 core:ShareCapital 2024-09-30 11558908 core:ShareCapital 2023-09-30 11558908 core:RetainedEarningsAccumulatedLosses 2024-09-30 11558908 core:RetainedEarningsAccumulatedLosses 2023-09-30 11558908 core:OfficeEquipment 2023-09-30 11558908 core:OfficeEquipment 2024-09-30 11558908 bus:OrdinaryShareClass1 2024-09-30 11558908 2023-10-01 2024-09-30 11558908 bus:FilletedAccounts 2023-10-01 2024-09-30 11558908 bus:SmallEntities 2023-10-01 2024-09-30 11558908 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11558908 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11558908 bus:Director1 2023-10-01 2024-09-30 11558908 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 11558908 2022-10-01 2023-09-30 11558908 core:OfficeEquipment 2023-10-01 2024-09-30 11558908 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 11558908 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 11558908 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11558908 (England and Wales)

THE SUCCESS ENCRYPTION LTD

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

THE SUCCESS ENCRYPTION LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

THE SUCCESS ENCRYPTION LTD

BALANCE SHEET

As at 30 September 2024
THE SUCCESS ENCRYPTION LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 18,374 24,322
18,374 24,322
Current assets
Debtors 4 10,758 11,410
Cash at bank and in hand 51,921 22,430
62,679 33,840
Creditors: amounts falling due within one year 5 ( 47,220) ( 28,160)
Net current assets 15,459 5,680
Total assets less current liabilities 33,833 30,002
Creditors: amounts falling due after more than one year 6 ( 15,458) ( 26,291)
Provision for liabilities ( 4,594) ( 6,081)
Net assets/(liabilities) 13,781 ( 2,370)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 13,681 ( 2,470 )
Total shareholder's funds/(deficit) 13,781 ( 2,370)

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

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Success Encryption Ltd (registered number: 11558908) were approved and authorised for issue by the Director on 14 February 2025. They were signed on its behalf by:

Ariella Indigo
Director
THE SUCCESS ENCRYPTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
THE SUCCESS ENCRYPTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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 year, unless otherwise stated.

General information and basis of accounting

The Success Encryption Ltd (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 Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, 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

As at 30 September 2024 the balance sheet shows net assets of £13,781 (2023: net liabilities of £2,370). 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

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

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.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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:

Office 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.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

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 that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

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 Balance Sheet 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 October 2023 29,742 29,742
At 30 September 2024 29,742 29,742
Accumulated depreciation
At 01 October 2023 5,420 5,420
Charge for the financial year 5,948 5,948
At 30 September 2024 11,368 11,368
Net book value
At 30 September 2024 18,374 18,374
At 30 September 2023 24,322 24,322

4. Debtors

2024 2023
£ £
Amounts owed by director 4,351 5,907
Prepayments 21 3,018
VAT recoverable 1,564 0
Other debtors 4,822 2,485
10,758 11,410

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Accruals 4,087 3,932
Taxation and social security 28,133 14,228
Other creditors 5,000 0
47,220 28,160

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 15,458 26,291

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at HMRC official rates.

At 1 October 2023, the balance owed to the company by the director was £5,907. During the year, £83,248 was advanced to the director, and £84,804 was repaid by the director. At 30 September 2024, the balance owed by the director to the company was £4,351.