Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Dorothy Jane Cadman 01/01/2011 Dr Richard James Allen Cadman 17/12/2002 Dorothy Jane Cadman 14 May 2025 Business and management consultancy services on matters of policy and regulatory economics for telecommunications companies 04619497 2024-12-31 04619497 bus:Director1 2024-12-31 04619497 bus:Director2 2024-12-31 04619497 2023-12-31 04619497 core:CurrentFinancialInstruments 2024-12-31 04619497 core:CurrentFinancialInstruments 2023-12-31 04619497 core:ShareCapital 2024-12-31 04619497 core:ShareCapital 2023-12-31 04619497 core:RetainedEarningsAccumulatedLosses 2024-12-31 04619497 core:RetainedEarningsAccumulatedLosses 2023-12-31 04619497 core:Vehicles 2023-12-31 04619497 core:FurnitureFittings 2023-12-31 04619497 core:Vehicles 2024-12-31 04619497 core:FurnitureFittings 2024-12-31 04619497 2022-12-31 04619497 2024-01-01 2024-12-31 04619497 bus:FilletedAccounts 2024-01-01 2024-12-31 04619497 bus:SmallEntities 2024-01-01 2024-12-31 04619497 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04619497 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04619497 bus:Director1 2024-01-01 2024-12-31 04619497 bus:Director2 2024-01-01 2024-12-31 04619497 bus:CompanySecretary1 2024-01-01 2024-12-31 04619497 core:Vehicles 2024-01-01 2024-12-31 04619497 core:FurnitureFittings core:BottomRangeValue 2024-01-01 2024-12-31 04619497 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 04619497 2023-01-01 2023-12-31 04619497 core:FurnitureFittings 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 04619497 (England and Wales)

STRATEGY AND POLICY CONSULTANTS NETWORK LIMITED

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

STRATEGY AND POLICY CONSULTANTS NETWORK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

STRATEGY AND POLICY CONSULTANTS NETWORK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
STRATEGY AND POLICY CONSULTANTS NETWORK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 11,051 15,157
Investments 484,193 441,497
495,244 456,654
Current assets
Debtors 4 68,514 205,928
Cash at bank and in hand 340,709 251,494
409,223 457,422
Creditors: amounts falling due within one year 5 ( 67,880) ( 138,938)
Net current assets 341,343 318,484
Total assets less current liabilities 836,587 775,138
Provision for liabilities 6 ( 11,311) ( 26,646)
Net assets 825,276 748,492
Capital and reserves
Called-up share capital 2 2
Profit and loss account 825,274 748,490
Total shareholders' funds 825,276 748,492

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:

The financial statements of Strategy and Policy Consultants Network Limited (registered number: 04619497) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Dorothy Jane Cadman
Director
Dr Richard James Allen Cadman
Director

14 May 2025

STRATEGY AND POLICY CONSULTANTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
STRATEGY AND POLICY CONSULTANTS NETWORK 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

Strategy and Policy Consultants Network 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 Chapel House, Booton, Norwich, NR10 4PE, 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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement 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 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.

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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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 Statement of Financial Position 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.

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:

Vehicles 20 % reducing balance
Fixtures and fittings 3 - 5 years straight line

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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 Statement of Financial Position 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.

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.

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.

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 Statement of Financial Position 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 3 3

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 January 2024 30,444 28,116 58,560
Additions 0 125 125
At 31 December 2024 30,444 28,241 58,685
Accumulated depreciation
At 01 January 2024 17,974 25,429 43,403
Charge for the financial year 2,494 1,737 4,231
At 31 December 2024 20,468 27,166 47,634
Net book value
At 31 December 2024 9,976 1,075 11,051
At 31 December 2023 12,470 2,687 15,157

4. Debtors

2024 2023
£ £
Trade debtors 16,500 187,128
Amounts owed by directors 45,385 0
Prepayments and accrued income 2,820 18,800
VAT recoverable 3,809 0
68,514 205,928

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,282 34,018
Amounts owed to directors 0 3,482
Accruals and deferred income 3,140 49,996
Taxation and social security 62,458 51,442
67,880 138,938

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 26,646) ( 4,433)
Credited/(charged) to the Income Statement 15,335 ( 22,213)
At the end of financial year ( 11,311) ( 26,646)

7. 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.

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Loan to director - Richard Cadman 35,385 0
Loan to director - Jane Cadman 10,000 0

During the year the Company made advances to the directors, and the balances owed by the directors to the Company at the year end are shown above. Interest is being charged by the Company to the directors at the official beneficial loan interest rate (2.25% in 2024). There are no fixed repayment terms in place although the directors are expecting to clear the balances in full before 30 September 2025.