Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Firoz Peermohamed Surti 31/05/2022 23 March 2025 no description of principal activity 14143158 2024-05-31 14143158 bus:Director1 2024-05-31 14143158 2023-05-31 14143158 core:CurrentFinancialInstruments 2024-05-31 14143158 core:CurrentFinancialInstruments 2023-05-31 14143158 core:ShareCapital 2024-05-31 14143158 core:ShareCapital 2023-05-31 14143158 core:RetainedEarningsAccumulatedLosses 2024-05-31 14143158 core:RetainedEarningsAccumulatedLosses 2023-05-31 14143158 core:OtherPropertyPlantEquipment 2023-05-31 14143158 core:OtherPropertyPlantEquipment 2024-05-31 14143158 2023-06-01 2024-05-31 14143158 bus:FilletedAccounts 2023-06-01 2024-05-31 14143158 bus:SmallEntities 2023-06-01 2024-05-31 14143158 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14143158 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14143158 bus:Director1 2023-06-01 2024-05-31 14143158 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 14143158 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-06-01 2024-05-31 14143158 2022-05-31 2023-05-31 iso4217:GBP xbrli:pure

Company No: 14143158 (England and Wales)

SCICOM UK (2022) LTD

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

SCICOM UK (2022) LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

SCICOM UK (2022) LTD

COMPANY INFORMATION

For the financial year ended 31 May 2024
SCICOM UK (2022) LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTOR Firoz Peermohamed Surti
REGISTERED OFFICE Treviot House
186-192 High Road
Ilford
IG1 1LR
United Kingdom
COMPANY NUMBER 14143158 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
SCICOM UK (2022) LTD

BALANCE SHEET

As at 31 May 2024
SCICOM UK (2022) LTD

BALANCE SHEET (continued)

As at 31 May 2024
Note 31.05.2024 31.05.2023
£ £
Fixed assets
Tangible assets 3 3,655 5,565
3,655 5,565
Current assets
Debtors 4 991,146 1,390,101
Cash at bank and in hand 96,552 319,657
1,087,698 1,709,758
Creditors: amounts falling due within one year 5 ( 1,128,751) ( 1,710,983)
Net current liabilities (41,053) (1,225)
Total assets less current liabilities (37,398) 4,340
Net (liabilities)/assets ( 37,398) 4,340
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 37,498 ) 4,240
Total shareholders' (deficit)/funds ( 37,398) 4,340

For the financial year ending 31 May 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 Scicom UK (2022) Ltd (registered number: 14143158) were approved and authorised for issue by the Director on 23 March 2025. They were signed on its behalf by:

Firoz Peermohamed Surti
Director
SCICOM UK (2022) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
SCICOM UK (2022) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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 period, unless otherwise stated.

General information and basis of accounting

Scicom UK (2022) 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 Treviot House, 186-192 High Road, Ilford, IG1 1LR, 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 balance sheet at the year end recorded net liabilities. The director is currently considering various strategic options available to the company and intends to cease trade if the trading conditions does not improve in the year ending 31st May 2025.

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.

Exchange differences are recognised in the Profit and Loss Account 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.

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 sale of goods is recognised when the goods are physically delivered to the customer.

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.

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:

Plant and machinery etc. 25 % reducing balance
3 years straight line

2. Employees

Year ended
31.05.2024
Period from
31.05.2022 to
31.05.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2023 8,028 8,028
Additions 637 637
At 31 May 2024 8,665 8,665
Accumulated depreciation
At 01 June 2023 2,463 2,463
Charge for the financial year 2,547 2,547
At 31 May 2024 5,010 5,010
Net book value
At 31 May 2024 3,655 3,655
At 31 May 2023 5,565 5,565

4. Debtors

31.05.2024 31.05.2023
£ £
Trade debtors 740,974 876,852
Amounts owed by Group undertakings 131,848 108,400
Corporation tax 25,639 0
Other debtors 92,685 404,849
991,146 1,390,101

5. Creditors: amounts falling due within one year

31.05.2024 31.05.2023
£ £
Trade creditors 533,571 755,416
Taxation and social security 50,024 21,543
Other creditors 545,156 934,024
1,128,751 1,710,983

6. Secured debts

The following secured debts are included within creditors:

31.05.2024 31.05.2023
£ £
Loan 384,024 921,577

The director has provided personal guarantee for the sum of $650,000 in respect of the business loan.

7. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.05.2024 31.05.2023
£ £
Director 1 - Amount advanced 322,427 114,128
Director 1 - Amount repaid (272,018) (88,569)

Interest was charged on all loans at the official HMRC rate of interest.

As at year end, the director's current account shows a debit balance of £75,968 (2023 : £25.559).