Silverfin false false 30/06/2024 16/06/2023 30/06/2024 C A Nkunku 16/06/2023 20 February 2025 The principal activity of the company during the period was the leasing of intellectual property and similar products, except copyright works. 14940322 2024-06-30 14940322 bus:Director1 2024-06-30 14940322 core:CurrentFinancialInstruments 2024-06-30 14940322 core:ShareCapital 2024-06-30 14940322 core:RetainedEarningsAccumulatedLosses 2024-06-30 14940322 bus:OrdinaryShareClass1 2024-06-30 14940322 2023-06-16 2024-06-30 14940322 bus:FilletedAccounts 2023-06-16 2024-06-30 14940322 bus:SmallEntities 2023-06-16 2024-06-30 14940322 bus:AuditExemptWithAccountantsReport 2023-06-16 2024-06-30 14940322 bus:PrivateLimitedCompanyLtd 2023-06-16 2024-06-30 14940322 bus:Director1 2023-06-16 2024-06-30 14940322 bus:OrdinaryShareClass1 2023-06-16 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14940322 (England and Wales)

TEAM S-NK LIMITED

Unaudited Financial Statements
For the financial period from 16 June 2023 to 30 June 2024
Pages for filing with the registrar

TEAM S-NK LIMITED

Unaudited Financial Statements

For the financial period from 16 June 2023 to 30 June 2024

Contents

TEAM S-NK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
TEAM S-NK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 30.06.2024
£
Current assets
Debtors 3 960,000
Cash at bank and in hand 709,236
1,669,236
Creditors: amounts falling due within one year 4 ( 482,473)
Net current assets 1,186,763
Total assets less current liabilities 1,186,763
Net assets 1,186,763
Capital and reserves
Called-up share capital 5 1
Profit and loss account 1,186,762
Total shareholder's funds 1,186,763

For the financial period ending 30 June 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 Team S-NK Limited (registered number: 14940322) were approved and authorised for issue by the Director. They were signed on its behalf by:

C A Nkunku
Director

20 February 2025

TEAM S-NK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 June 2023 to 30 June 2024
TEAM S-NK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 June 2023 to 30 June 2024
1. Accounting policies

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

General information and basis of accounting

Team S-NK 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 First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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

The director has assessed the Statement of Financial Position 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.

Turnover

Revenue represents the licence of image rights and excludes value added tax.

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.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

2. Employees

Period from
16.06.2023 to
30.06.2024
Number
Monthly average number of persons employed by the company during the period, including the director 0

3. Debtors

30.06.2024
£
Trade debtors 960,000

4. Creditors: amounts falling due within one year

30.06.2024
£
Trade creditors 516
Corporation tax 396,000
Other taxation and social security 79,748
Other creditors 6,209
482,473

5. Called-up share capital

30.06.2024
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1