Silverfin false false 30/06/2024 01/06/2023 30/06/2024 C Hibri 01/06/2023 Haatch Ventures Directors Ltd 26/03/2024 N Sutton 01/06/2023 19 March 2025 The principal activity of the company during the financial year was the provision of a secondary market investment platform. 14908425 2024-06-30 14908425 bus:Director1 2024-06-30 14908425 bus:Director2 2024-06-30 14908425 bus:Director3 2024-06-30 14908425 core:CurrentFinancialInstruments 2024-06-30 14908425 core:Non-currentFinancialInstruments 2024-06-30 14908425 core:ShareCapital 2024-06-30 14908425 core:SharePremium 2024-06-30 14908425 core:OtherCapitalReserve 2024-06-30 14908425 core:RetainedEarningsAccumulatedLosses 2024-06-30 14908425 core:OfficeEquipment 2023-05-31 14908425 2023-05-31 14908425 core:OfficeEquipment 2024-06-30 14908425 core:AdditionsToInvestments 2024-06-30 14908425 core:CostValuation 2024-06-30 14908425 bus:OrdinaryShareClass1 2024-06-30 14908425 2023-06-01 2024-06-30 14908425 bus:FilletedAccounts 2023-06-01 2024-06-30 14908425 bus:SmallEntities 2023-06-01 2024-06-30 14908425 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-06-30 14908425 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-06-30 14908425 bus:Director1 2023-06-01 2024-06-30 14908425 bus:Director2 2023-06-01 2024-06-30 14908425 bus:Director3 2023-06-01 2024-06-30 14908425 core:OfficeEquipment core:TopRangeValue 2023-06-01 2024-06-30 14908425 core:OfficeEquipment 2023-06-01 2024-06-30 14908425 bus:OrdinaryShareClass1 2023-06-01 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14908425 (England and Wales)

TANGIBLE MARKETS LTD

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

TANGIBLE MARKETS LTD

Unaudited Financial Statements

For the financial period from 01 June 2023 to 30 June 2024

Contents

TANGIBLE MARKETS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
TANGIBLE MARKETS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 30.06.2024
£
Fixed assets
Tangible assets 3 2,120
Investments 4 100
2,220
Current assets
Debtors
- due within one year 5 4,648
- due after more than one year 5 14,654
Cash at bank and in hand 737,117
756,419
Creditors: amounts falling due within one year 6 ( 51,777)
Net current assets 704,642
Total assets less current liabilities 706,862
Net assets 706,862
Capital and reserves
Called-up share capital 7 120
Share premium account 309,982
Other reserves 836,073
Profit and loss account ( 439,313 )
Total shareholders' funds 706,862

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tangible Markets Ltd (registered number: 14908425) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

C Hibri
Director

19 March 2025

TANGIBLE MARKETS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 June 2023 to 30 June 2024
TANGIBLE MARKETS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 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

Tangible Markets 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 35 Ballards Lane, London, 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

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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 reporting period runs from the date of incorporation, 01 June 2023, until 30 June 2024, a period longer than one year.

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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

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:

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.

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 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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

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.

Ordinary share capital

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

2. Employees

Period from
01.06.2023 to
30.06.2024
Number
Monthly average number of persons employed by the company during the period, including directors 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 June 2023 0 0
Additions 2,201 2,201
At 30 June 2024 2,201 2,201
Accumulated depreciation
At 01 June 2023 0 0
Charge for the financial period 81 81
At 30 June 2024 81 81
Net book value
At 30 June 2024 2,120 2,120

4. Fixed asset investments

30.06.2024
£
Subsidiary undertakings 100

Investments in subsidiaries

30.06.2024
£
Cost
At 01 June 2023 0
Additions 100
At 30 June 2024 100
Carrying value at 30 June 2024 100

5. Debtors

30.06.2024
£
Debtors: amounts falling due within one year
Other debtors 4,648
Debtors: amounts falling due after more than one year
Amounts owed by own subsidiaries 14,654

6. Creditors: amounts falling due within one year

30.06.2024
£
Other creditors 51,777

7. Called-up share capital

30.06.2024
£
Allotted, called-up and fully-paid
1,202,855 Ordinary shares of £ 0.0001 each 120

At incorporation the company allotted 100 shares worth £1 each.
On 23 August 2023, the shares were subdivided into 1,000,000 shares worth £0.0001 each
On 30 August 2023, 141,250 new shares were allotted at nominal value.
On 04 September 2023, 55,355 new shares were allotted for a premium of £5.60 per share.
On 19 September 2023, 6,250 new shares were allotted at nominal value.

8. Related party transactions

Transactions with the entity's directors

30.06.2024
£
Amount owed to directors included in other creditors 48,797

Other related party transactions

30.06.2024
£
Amounts owed by own subsidiaries 14,754