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REGISTERED NUMBER: 10537853 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Social Fintech Company Limited

Social Fintech Company Limited (Registered number: 10537853)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Social Fintech Company Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Aviles Montes
T A Bercovich
N De La Carrera Valdes
C F Forno Martinez





REGISTERED OFFICE: Innovation Centre
Gallows Hill
Warwick
United Kingdom
CV34 6UW





REGISTERED NUMBER: 10537853 (England and Wales)






Social Fintech Company Limited (Registered number: 10537853)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 4 3,229,605 603,454
Investments 5 451,307 2,550,535
3,680,912 3,153,989
CREDITORS
Amounts falling due within one year 6 5,852,074 5,852,074
NET CURRENT LIABILITIES (2,171,162 ) (2,698,085 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,171,162

)

(2,698,085

)

CAPITAL AND RESERVES
Called up share capital 8,178,379 8,178,379
Other reserves 1,583,668 1,583,668
Retained earnings (11,933,209 ) (12,460,132 )
(2,171,162 ) (2,698,085 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Social Fintech Company Limited (Registered number: 10537853)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





N De La Carrera Valdes - Director


Social Fintech Company Limited (Registered number: 10537853)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Social Fintech Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Other debtors 603,454 603,454

Social Fintech Company Limited (Registered number: 10537853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. DEBTORS - continued
31.12.23 31.12.22
£    £   
Amounts falling due after more than one year:
Other debtors 2,626,151 -

Aggregate amounts 3,229,605 603,454

5. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Shares in group undertakings 451,307 2,550,535

Investments in group undertakings relate to the following.

KT Financial Group Limited
Registered office: 3rd Floor, J&C Building, P.O. Box 933, Road Town, Tortola, British Virgin Islands.
Nature of business: Provider of trading platform.

At 31st December 2023 Social Fintech Company Limited holds 18% of the Ordinary shares in KT Financial Group Limited. These shares were sold on 24th January 2024.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 5,844,364 5,844,364
Other creditors 7,710 7,710
5,852,074 5,852,074

7. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.