Silverfin false false 31/07/2024 01/08/2023 31/07/2024 S Goldstone 15/07/2020 R Hamnett 12/01/2022 O Holcroft 15/03/2021 O J Holcroft 24 April 2025 The principal activity of the company continued to be that of Other Software Publishing. 12745996 2024-07-31 12745996 bus:Director1 2024-07-31 12745996 bus:Director2 2024-07-31 12745996 bus:Director3 2024-07-31 12745996 2023-07-31 12745996 core:CurrentFinancialInstruments 2024-07-31 12745996 core:CurrentFinancialInstruments 2023-07-31 12745996 core:ShareCapital 2024-07-31 12745996 core:ShareCapital 2023-07-31 12745996 core:SharePremium 2024-07-31 12745996 core:SharePremium 2023-07-31 12745996 core:RetainedEarningsAccumulatedLosses 2024-07-31 12745996 core:RetainedEarningsAccumulatedLosses 2023-07-31 12745996 core:OtherResidualIntangibleAssets 2023-07-31 12745996 core:OtherResidualIntangibleAssets 2024-07-31 12745996 bus:OrdinaryShareClass1 2024-07-31 12745996 2023-08-01 2024-07-31 12745996 bus:FilletedAccounts 2023-08-01 2024-07-31 12745996 bus:SmallEntities 2023-08-01 2024-07-31 12745996 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12745996 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12745996 bus:Director1 2023-08-01 2024-07-31 12745996 bus:Director2 2023-08-01 2024-07-31 12745996 bus:Director3 2023-08-01 2024-07-31 12745996 bus:Director4 2023-08-01 2024-07-31 12745996 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-08-01 2024-07-31 12745996 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 12745996 core:OtherResidualIntangibleAssets 2023-08-01 2024-07-31 12745996 2022-08-01 2023-07-31 12745996 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 12745996 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12745996 (England and Wales)

SMARTERDEMO LIMITED

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

SMARTERDEMO LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

SMARTERDEMO LIMITED

BALANCE SHEET

As at 31 July 2024
SMARTERDEMO LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 31.07.2024 31.07.2023
£ £
Fixed assets
Intangible assets 3 3,000 4,500
3,000 4,500
Current assets
Debtors 4 208 5,326
Cash at bank and in hand 33,322 43,376
33,530 48,702
Creditors: amounts falling due within one year 5 ( 63,391) ( 23,055)
Net current (liabilities)/assets (29,861) 25,647
Total assets less current liabilities (26,861) 30,147
Net (liabilities)/assets ( 26,861) 30,147
Capital and reserves
Called-up share capital 6 2 2
Share premium account 300,005 300,005
Profit and loss account ( 326,868 ) ( 269,860 )
Total shareholders' (deficit)/funds ( 26,861) 30,147

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Smarterdemo Limited (registered number: 12745996) were approved and authorised for issue by the Board of Directors on 24 April 2025. They were signed on its behalf by:

O J Holcroft
Director
SMARTERDEMO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
SMARTERDEMO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

Smarterdemo 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 2 Leman Street, London, United Kingdom, E1W 9US.

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

Total Liabilities exceed Current Assets at the balance sheet date. The directors consider, however that the company has sufficient liquid assets to meets its liabilities as and when they fall due and that the company has sufficient support from its directors, shareholders and creditors. Accordingly the directors consider that it is appropriate to prepare the accounts on a going concern.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

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:

Other intangible assets 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.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

31.07.2024 31.07.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 August 2023 7,500 7,500
At 31 July 2024 7,500 7,500
Accumulated amortisation
At 01 August 2023 3,000 3,000
Charge for the financial year 1,500 1,500
At 31 July 2024 4,500 4,500
Net book value
At 31 July 2024 3,000 3,000
At 31 July 2023 4,500 4,500

4. Debtors

31.07.2024 31.07.2023
£ £
Trade debtors 0 2,400
Other debtors 208 2,926
208 5,326

5. Creditors: amounts falling due within one year

31.07.2024 31.07.2023
£ £
Trade creditors 0 8,688
Other taxation and social security 11,337 1,046
Other creditors 52,054 13,321
63,391 23,055

6. Called-up share capital

31.07.2024 31.07.2023
£ £
Allotted, called-up and fully-paid
1,164,810 Ordinary shares of £ 0.000002 each 2 2

7. Related party transactions

At the year end the company owed £678 (2023 - £638) to the director, of the company in respect of an interest free loan which is repayable on demand.