Silverfin false false 31/12/2024 01/01/2024 31/12/2024 J Hinkley 22/09/2011 A Lawes 23/09/2012 C Morris 22/09/2011 08 April 2025 The company's principal activity is the creation of leading marketing technology, transforming clients for campaigns and managing marketing campaigns. 07783861 2024-12-31 07783861 bus:Director1 2024-12-31 07783861 bus:Director2 2024-12-31 07783861 bus:Director3 2024-12-31 07783861 2023-12-31 07783861 core:CurrentFinancialInstruments 2024-12-31 07783861 core:CurrentFinancialInstruments 2023-12-31 07783861 core:Non-currentFinancialInstruments 2024-12-31 07783861 core:Non-currentFinancialInstruments 2023-12-31 07783861 core:ShareCapital 2024-12-31 07783861 core:ShareCapital 2023-12-31 07783861 core:RetainedEarningsAccumulatedLosses 2024-12-31 07783861 core:RetainedEarningsAccumulatedLosses 2023-12-31 07783861 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 07783861 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 07783861 core:OfficeEquipment 2023-12-31 07783861 core:ComputerEquipment 2023-12-31 07783861 core:OfficeEquipment 2024-12-31 07783861 core:ComputerEquipment 2024-12-31 07783861 core:MoreThanFiveYears 2024-12-31 07783861 core:MoreThanFiveYears 2023-12-31 07783861 2022-12-31 07783861 core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07783861 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07783861 core:TaxLossesCarry-forwardsDeferredTax 2024-12-31 07783861 core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 07783861 2024-01-01 2024-12-31 07783861 bus:FilletedAccounts 2024-01-01 2024-12-31 07783861 bus:SmallEntities 2024-01-01 2024-12-31 07783861 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07783861 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07783861 bus:Director1 2024-01-01 2024-12-31 07783861 bus:Director2 2024-01-01 2024-12-31 07783861 bus:Director3 2024-01-01 2024-12-31 07783861 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2024-01-01 2024-12-31 07783861 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 07783861 core:OfficeEquipment 2024-01-01 2024-12-31 07783861 core:ComputerEquipment 2024-01-01 2024-12-31 07783861 2023-01-01 2023-12-31 07783861 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 07783861 (England and Wales)

SUB2 TECHNOLOGIES LIMITED

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

SUB2 TECHNOLOGIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SUB2 TECHNOLOGIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
SUB2 TECHNOLOGIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
Directors J Hinkley
A Lawes
C Morris
Registered office 2nd Floor 168 Shoreditch High Street
London
E1 6RA
United Kingdom
Company number 07783861 (England and Wales)
Accountant Kreston Reeves LLP
2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ
SUB2 TECHNOLOGIES LIMITED

BALANCE SHEET

As at 31 December 2024
SUB2 TECHNOLOGIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,383,334 1,141,229
Tangible assets 4 6,849 11,617
1,390,183 1,152,846
Current assets
Debtors 5 1,207,955 769,285
Cash at bank and in hand 365,396 357,340
1,573,351 1,126,625
Creditors: amounts falling due within one year 6 ( 1,224,316) ( 1,441,443)
Net current assets/(liabilities) 349,035 (314,818)
Total assets less current liabilities 1,739,218 838,028
Creditors: amounts falling due after more than one year 7 ( 169,335) ( 247,411)
Provision for liabilities 8 ( 333,615) ( 288,211)
Accruals and deferred income ( 1,004,951) ( 123,213)
Net assets 231,317 179,193
Capital and reserves
Called-up share capital 100 100
Profit and loss account 231,217 179,093
Total shareholders' funds 231,317 179,193

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sub2 Technologies Limited (registered number: 07783861) were approved and authorised for issue by the Board of Directors on 08 April 2025. They were signed on its behalf by:

A Lawes
Director
SUB2 TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SUB2 TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 year, unless otherwise stated.

General information and basis of accounting

Sub2 Technologies 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 2nd Floor 168 Shoreditch High Street, London, E1 6RA, 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 £.

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 Statement of Comprehensive Income 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 supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of accruals and deferred income on the Balance Sheet.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

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 25 % reducing balance
Computer equipment 33 % reducing balance

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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 Balance Sheet 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 24 23

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2024 2,867,303 2,867,303
Additions 666,670 666,670
Disposals ( 946,919) ( 946,919)
At 31 December 2024 2,587,054 2,587,054
Accumulated amortisation
At 01 January 2024 1,726,074 1,726,074
Charge for the financial year 424,565 424,565
Disposals ( 946,919) ( 946,919)
At 31 December 2024 1,203,720 1,203,720
Net book value
At 31 December 2024 1,383,334 1,383,334
At 31 December 2023 1,141,229 1,141,229

4. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 January 2024 6,204 22,764 28,968
Additions 0 1,041 1,041
At 31 December 2024 6,204 23,805 30,009
Accumulated depreciation
At 01 January 2024 6,204 11,147 17,351
Charge for the financial year 0 5,809 5,809
At 31 December 2024 6,204 16,956 23,160
Net book value
At 31 December 2024 0 6,849 6,849
At 31 December 2023 0 11,617 11,617

5. Debtors

2024 2023
£ £
Trade debtors 615,725 635,480
Prepayments 522,759 41,950
Other debtors 69,471 91,855
1,207,955 769,285

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 78,025 70,645
Trade creditors 806,724 848,565
Other taxation and social security 312,069 489,131
Other creditors 27,498 33,102
1,224,316 1,441,443

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 169,335 247,411

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (repayable by instalments) 0 6,888

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 288,211) ( 226,017)
Charged to the Profit and Loss Account ( 45,404) ( 62,194)
At the end of financial year ( 333,615) ( 288,211)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances ( 347,546) ( 288,211)
Tax losses carry forward 13,931 0
( 333,615) ( 288,211)

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 0 5,602