Company Registration No. 06270642 (England and Wales)
Sen Corporation Limited
Unaudited accounts
for the year ended 31 December 2024
Sen Corporation Limited
Unaudited accounts
Contents
Sen Corporation Limited
Company Information
for the year ended 31 December 2024
Directors
Charles Michael Andrew Black
Meagan Crawford
Lord Peter Daresbury
Harry McDermott
Lee Lindley
Company Number
06270642 (England and Wales)
Registered Office
33 Great Sutton Street
London
EC1V 0DX
Sen Corporation Limited
Accountants' report
Accountants' report to the board of directors of Sen Corporation Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Sen Corporation Limited for the year ended
31 December 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Sen Corporation Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Sen Corporation Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sen Corporation Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sen Corporation Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Sen Corporation Limited. You consider that Sen Corporation Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sen Corporation Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Sen Corporation Limited
Statement of financial position
as at 31 December 2024
Intangible assets
398,471
418,565
Tangible assets
368,605
635,180
Cash at bank and in hand
25,070
735,349
Creditors: amounts falling due within one year
(687,469)
(244,036)
Net current assets
20,911
1,011,971
Net assets
795,836
2,073,565
Called up share capital
424,519
416,388
Share premium
9,379,577
8,964,908
Profit and loss account
(9,008,260)
(7,307,731)
Shareholders' funds
795,836
2,073,565
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by
Charles Michael Andrew Black
Director
Company Registration No. 06270642
Sen Corporation Limited
Notes to the Accounts
for the year ended 31 December 2024
Sen Corporation Limited is a private company, limited by shares, registered in England and Wales, registration number 06270642. The registered office and principal place of business is 33 Great Sutton Street, London, EC1V 0DX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
Sen Corporation Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Intangible fixed assets
Other
At 31 December 2024
432,307
Charge for the year
20,094
At 31 December 2024
33,836
At 31 December 2024
398,471
At 31 December 2023
418,565
Intangible assets is made up of software and website cost
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
1,007,540
69,163
49,286
1,125,989
Additions
46,759
-
-
46,759
Disposals
(171,064)
-
-
(171,064)
At 31 December 2024
883,235
69,163
49,286
1,001,684
At 1 January 2024
415,780
42,929
32,100
490,809
Charge for the year
210,860
12,828
7,404
231,092
On disposals
(88,822)
-
-
(88,822)
At 31 December 2024
537,818
55,757
39,504
633,079
At 31 December 2024
345,417
13,406
9,782
368,605
At 31 December 2023
591,760
26,234
17,186
635,180
6
Investments
Subsidiary undertakings
Valuation at 1 January 2024
7,849
Valuation at 31 December 2024
7,849
The company owns 100% of the issued share capital in Sen TV Inc, a company incorporated in Delaware State, USA
Sen Corporation Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Amounts due from group undertakings etc.
15,583
66,711
Accrued income and prepayments
29,123
55,515
Other debtors
632,136
388,959
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
296,184
128,686
Taxes and social security
138,991
36,595
Other creditors
158,562
9,209
Allotted, called up and fully paid:
42,451,910 Ordinary shares of £0.01 each
424,519.10
416,388.31
Shares issued during the period:
813,079 Ordinary shares of £0.01 each
8,130.79
10
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
95,425
95,425
Later than one year and not later than five years
381,700
-
11
Transactions with related parties
Sen Corporation Ltd has provided operating cash to Sen TV Inc, a company registered in Delaware State, USA and wholly owned by Sen Corporation Ltd
12
Average number of employees
During the year the average number of employees was 17 (2023: 17).