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Company No: 09365354 (England and Wales)

SOFTNET ENTERPRISE LIMITED

Unaudited Financial Statements
For the financial period from 01 January 2024 to 31 March 2025
Pages for filing with the registrar

SOFTNET ENTERPRISE LIMITED

Unaudited Financial Statements

For the financial period from 01 January 2024 to 31 March 2025

Contents

SOFTNET ENTERPRISE LIMITED

COMPANY INFORMATION

For the financial period from 01 January 2024 to 31 March 2025
SOFTNET ENTERPRISE LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 January 2024 to 31 March 2025
Directors J E Rigby
S D Rigby
Registered office 9 Donnington Park
85 Birdham Road
Chichester
PO20 7AJ
United Kingdom
Company number 09365354 (England and Wales)
Accountant Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOFTNET ENTERPRISE LIMITED

For the financial period from 01 January 2024 to 31 March 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOFTNET ENTERPRISE LIMITED (continued)

For the financial period from 01 January 2024 to 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Softnet Enterprise Limited for the financial period ended 31 March 2025 which comprise the Balance Sheet and the related notes 1 to 6 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Softnet Enterprise Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Softnet Enterprise Limited. You consider that Softnet Enterprise Limited is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Softnet Enterprise Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Softnet Enterprise Limited, as a body, in accordance with the terms of our engagement letter dated 23 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Softnet Enterprise Limited and state those matters that we have agreed to state to the Board of Directors of Softnet Enterprise Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Softnet Enterprise Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

02 June 2025

SOFTNET ENTERPRISE LIMITED

BALANCE SHEET

As at 31 March 2025
SOFTNET ENTERPRISE LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 31.03.2025 31.12.2023
£ £
Fixed assets
Tangible assets 3 1,329 2,967
1,329 2,967
Current assets
Debtors 4 173 3,300
Cash at bank and in hand 28,631 34,255
28,804 37,555
Creditors: amounts falling due within one year 5 ( 24,169) ( 32,791)
Net current assets 4,635 4,764
Total assets less current liabilities 5,964 7,731
Provision for liabilities 6 0 ( 564)
Net assets 5,964 7,167
Capital and reserves
Called-up share capital 2 2
Profit and loss account 5,962 7,165
Total shareholders' funds 5,964 7,167

For the financial period ending 31 March 2025 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 Softnet Enterprise Limited (registered number: 09365354) were approved and authorised for issue by the Board of Directors on 30 May 2025. They were signed on its behalf by:

S D Rigby
Director
SOFTNET ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2024 to 31 March 2025
SOFTNET ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2024 to 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Softnet Enterprise 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 9 Donnington Park, 85 Birdham Road, Chichester, PO20 7AJ, 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 directors made the decision that the Company would cease trading on 31 March 2025. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

Reporting period length has been extended to 15 months ending 31 March 2025.

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.

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.

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 3 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.

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.

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

Period from
01.01.2024 to
31.03.2025
Year ended
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2024 9,258 9,258
Additions 753 753
At 31 March 2025 10,011 10,011
Accumulated depreciation
At 01 January 2024 6,291 6,291
Charge for the financial period 2,391 2,391
At 31 March 2025 8,682 8,682
Net book value
At 31 March 2025 1,329 1,329
At 31 December 2023 2,967 2,967

4. Debtors

31.03.2025 31.12.2023
£ £
Trade debtors 0 3,300
Other debtors 173 0
173 3,300

5. Creditors: amounts falling due within one year

31.03.2025 31.12.2023
£ £
Corporation tax 5,131 5,792
Other taxation and social security 0 1,507
Other creditors 19,038 25,492
24,169 32,791

6. Deferred tax

31.03.2025 31.12.2023
£ £
At the beginning of financial period/year ( 564) ( 915)
Credited to the Statement of Income and Retained Earnings 564 351
At the end of financial period/year 0 ( 564)