| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| SANTIS BUSINESS SERVICES LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| SANTIS BUSINESS SERVICES LIMITED |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Contents of the Financial Statements |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| SANTIS BUSINESS SERVICES LIMITED |
| Company Information |
| for the year ended 31 December 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| Aissela |
| 46 High Street |
| Esher |
| Surrey |
| KT10 9QY |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Statement of Financial Position |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Current assets |
| Debtors | 7 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 11 |
| Capital redemption reserve | 12 |
| Retained earnings | 12 |
| Shareholders' funds |
| 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. |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Statement of Financial Position - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | Statutory information |
| Santis Business Services Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The company's place of business is 15 Pages Walk, London, SE1 4SB. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Going concern |
| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| Key source of estimation, uncertainty and judgement |
| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: |
| (i) Impairment of debtors |
| The company makes an estimate of the recoverable value of its debtors. When assessing impairment of debtors, management considers multiple factors regarding their recoverability. |
| (ii) Taxation |
| Management estimation is required to determine the amount of deferred tax asset or liability that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies. |
| Turnover |
| Turnover is derived from the company's principal activity, being business support services. Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Intangible assets |
| Customer database rights acquired from third parties are capitalised and amortised in accordance with FRS 102. The asset is recognised at the point that the right of access to those customers is transfered to the company. The amount capitalised equates to the total consideration payable under the purchase agreement. Amortisation is recognised in accordance with FRS 102. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 2. | Accounting policies - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 4. | Intangible fixed assets |
| Patents and |
| licences |
| £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Amortisation |
| At 1 January 2024 |
| Amortisation for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | Tangible fixed assets |
| Fixtures |
| Improvements | and | Motor | Computer |
| to property | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 5. | Tangible fixed assets - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| Cost |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) |
| Reclassification/transfer |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Reclassification/transfer |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 January 2024 |
| Disposals | ( |
) |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 7. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 8. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 223,058 | 171,743 |
| Other creditors |
| Directors' current accounts | 58,971 | 13,179 |
| Accruals and deferred income |
| 9. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 2-5 years |
| Hire purchase contracts (see note 10) |
| Other creditors |
| 10. | Leasing agreements |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 11. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| A Ordinary | £1 | 37,500 | 37,500 |
| B Ordinary | £1 | 12,500 | 12,500 |
| 50,000 | 50,000 |
| SANTIS BUSINESS SERVICES LIMITED (REGISTERED NUMBER: 08752800) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 12. | Reserves |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | 485,999 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2024 | 588,210 |
| 13. | Related party transactions |
| At the balance sheet date the company owed entities under the control of the directors £Nil (2023: £130,000) in respect of loans subject to an interest rate of 6% per annum. Interest of £3,711 (2023: £7,800) was expensed during the year. The loan is unsecured. |
| At the balance sheet date the company owed entities under the control of the directors £1,000,000 in respect of loans entered into in the current year subject to an interest rate of 4% per annum. Interest of £40,000 (2023: £40,000) was expensed during the year. The loan is secured via a fixed & floating charge over all assets of the company. |
| Included within creditors is £58,971 (2023: £13,179) owed to a director of the company. The amount is interest free and repayable on demand. |
| 14. | Share-based payment transactions |
| The company has granted share options to employees of the company. At 31 December 2024 there were |
| 1,813 (2023 - Nil) A Ordinary shares in the company under options to employees of the company. These options are granted under the terms of an equity-settled share option scheme. |
Number of Share options | Weighted average exercise price |
| 2024 | 2023 | 2024 | 2023 |
| Outstanding at 1 January 2024 and 31 December 2024 | 1,813 | Nil | £2.59 | Nil |
| Exercisable at 31 December 2024 | Nil | Nil | Nil | Nil |
| General Terms and Conditions: |
| Vesting Requirements: The options may be subject to performance targets set by the Directors at the date of grant.These performance targets must be met for the options to vest. |
| Settlement Method: The options are settled in equity, meaning that upon exercise, employees will receive shares in the company. |
| Option Limits and Exercise Conditions: |
| The options may be exercised at the discretion of the option holder, subject to meeting any performance targets and the conditions outlined in the scheme. The option must be exercised within 10 years of the date of the grant. |