Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-302023-10-0114truefalseInvestment Broker13falsefalse 04870280 2023-10-01 2024-09-30 04870280 2022-10-01 2023-09-30 04870280 2024-09-30 04870280 2023-09-30 04870280 2022-10-01 04870280 c:Director1 2023-10-01 2024-09-30 04870280 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 04870280 d:Buildings d:LongLeaseholdAssets 2024-09-30 04870280 d:Buildings d:LongLeaseholdAssets 2023-09-30 04870280 d:FurnitureFittings 2023-10-01 2024-09-30 04870280 d:FurnitureFittings 2024-09-30 04870280 d:FurnitureFittings 2023-09-30 04870280 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04870280 d:OfficeEquipment 2023-10-01 2024-09-30 04870280 d:OfficeEquipment 2024-09-30 04870280 d:OfficeEquipment 2023-09-30 04870280 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04870280 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04870280 d:CurrentFinancialInstruments 2024-09-30 04870280 d:CurrentFinancialInstruments 2023-09-30 04870280 d:Non-currentFinancialInstruments 2024-09-30 04870280 d:Non-currentFinancialInstruments 2023-09-30 04870280 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 04870280 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 04870280 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 04870280 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 04870280 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 04870280 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 04870280 d:ShareCapital 2024-09-30 04870280 d:ShareCapital 2023-09-30 04870280 d:SharePremium 2023-10-01 2024-09-30 04870280 d:SharePremium 2024-09-30 04870280 d:SharePremium 2023-09-30 04870280 d:CapitalRedemptionReserve 2024-09-30 04870280 d:CapitalRedemptionReserve 2023-09-30 04870280 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 04870280 d:RetainedEarningsAccumulatedLosses 2024-09-30 04870280 d:RetainedEarningsAccumulatedLosses 2023-09-30 04870280 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 04870280 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 04870280 c:OrdinaryShareClass1 2023-10-01 2024-09-30 04870280 c:OrdinaryShareClass1 2024-09-30 04870280 c:OrdinaryShareClass1 2023-09-30 04870280 c:OrdinaryShareClass2 2023-10-01 2024-09-30 04870280 c:OrdinaryShareClass2 2024-09-30 04870280 c:OrdinaryShareClass2 2023-09-30 04870280 c:OrdinaryShareClass3 2023-10-01 2024-09-30 04870280 c:OrdinaryShareClass3 2024-09-30 04870280 c:OrdinaryShareClass3 2023-09-30 04870280 c:FRS102 2023-10-01 2024-09-30 04870280 c:Audited 2023-10-01 2024-09-30 04870280 c:FullAccounts 2023-10-01 2024-09-30 04870280 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04870280 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04870280 6 2023-10-01 2024-09-30 04870280 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 04870280












SI CAPITAL LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 30 SEPTEMBER 2024



















 


img6a19.png
01483 755 399
hamlyns.com

 
SI CAPITAL LTD
REGISTERED NUMBER: 04870280

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
17,705
40,769

  
17,705
40,769

Current assets
  

Debtors: amounts falling due within one year
 5 
1,319,420
2,046,623

Current asset investments
 6 
448,873
557,880

Cash at bank and in hand
  
95,103
96,885

  
1,863,396
2,701,388

Creditors: amounts falling due within one year
 7 
(1,437,707)
(1,970,828)

Net current assets
  
 
 
425,689
 
 
730,560

Total assets less current liabilities
  
443,394
771,329

Creditors: amounts falling due after more than one year
 8 
(7,904)
(18,250)

Provisions for liabilities
  

Deferred tax
 10 
(3,364)
(7,746)

  
 
 
(3,364)
 
 
(7,746)

Net assets
  
432,126
745,333


Capital and reserves
  

Called up share capital 
  
985
956

Share premium account
 12 
299,971
-

Capital redemption reserve
 12 
171
171

Profit and loss account
 12 
130,999
744,206

  
432,126
745,333


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 April 2025.




Page 1

 
SI CAPITAL LTD
REGISTERED NUMBER: 04870280

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

___________________________
Renato Rufus
Director

The notes on pages 3 to 13 form part of these financial statements.
Page 2

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Si Capital Ltd is a private company, limited by shares, registered in England and Wales. The company's registered office address is 67 Grosvenor Street, London, England, W1K 3JN and registered number is 04870280.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Page 5

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
Straight line over 10 years
Fixtures and equipment
-
25%
On cost
Computer equipment
-
33%
On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 13).

Page 7

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Long-term leasehold property
Fixtures and equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
83,082
166,054
60,786
309,922


Additions
-
3,030
-
3,030



At 30 September 2024

83,082
169,084
60,786
312,952



Depreciation


At 1 October 2023
70,612
140,059
58,482
269,153


Charge for the year on owned assets
8,308
15,654
2,132
26,094



At 30 September 2024

78,920
155,713
60,614
295,247



Net book value



At 30 September 2024
4,162
13,371
172
17,705



At 30 September 2023
12,470
25,995
2,304
40,769

Page 8

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
143,230
158,210

Amounts owed by joint ventures and associated undertakings
3,834
28,635

Other debtors
1,087,454
1,735,208

Prepayments and accrued income
84,902
124,570

1,319,420
2,046,623



6.


Current asset investments

2024
2023
£
£

Listed investments
13,564
122,571

Unlisted investments
435,309
435,309

448,873
557,880


2024
2023
£
£

Listed investments

Opening fair value
122,571
206,176

Purchases
108,168
214,035

Sales
(184,875)
(331,963)

Gains on remeasurement to fair value
(32,300)
34,323

Market value
13,564
122,571


Unlisted investments

Opening value
435,309
360,000

Purchases
-
75,309

435,309
435,309


Page 9

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
209,837
171,831

Bank loans
39,878
10,064

Other loans
825,000
999,999

Corporation tax
6,490
87,259

Other taxation and social security
159,247
368,284

Other creditors
39,771
53,440

Accruals and deferred income
157,484
279,951

1,437,707
1,970,828



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,904
18,250

7,904
18,250



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
39,878
10,064

Other loans
825,000
1,000,000


864,878
1,010,064

Amounts falling due 1-2 years

Bank loans
7,904
18,250


7,904
18,250



872,782
1,028,314



10.


Deferred taxation

Page 10

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
10.Deferred taxation (continued)




2024
2023


£

£






At beginning of year
(7,746)
(14,209)


Utilised in year
4,382
6,463



At end of year
(3,364)
(7,746)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(3,364)
(7,746)

(3,364)
(7,746)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



98,512 (2023 - 95,644) Ordinary shares of £0.01 each
985
956
1 (2023 - 1) Preference B share of £0.01
-
-
1 (2023 - 1) Preference C share of £0.01
-
-

985

956


During the year the company issued 2,868 (2023:NIL) Ordinary shares of £0.01 and received consideration of £300,000 toward the share capital issued.


12.


Reserves

Share premium account

Consideration received in excess of the share value is recognised as share premium.

Profit and loss account

Included with the profit and loss reserves are non-distributable fair value movements on investments totalling -£32,300 (2023: £34,323).

Page 11

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £17,728 (2023 - £26,687). 
Contributions totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 12

 
SI CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.


Transactions with directors

The following advances and credits to directors subsisted during the year ended 30 September 2024. The loans are interest free and repayable on demand.

2024
2023
        £
        £
Mr R Rufus

Balance outstanding at start of year

1,329,346

1,194,840

Amounts advanced

325,826

411,843

Amounts repaid

(869,947)

(277,337)

Balance outstanding at end of year

785,225

1,329,346






15.


Related party transactions

At the year end £3,834 (2023: £28,365) was owed by a related company by virtue of common control and is included within debtors.
Within directors loans are transactions with a related individual totalling £24,350 (2023 - £24,500).


16.


Controlling party

The ultimate controlling party is director Renato Rufus by viture of shareholding.


17.
 

Provisions available for audits of small entities

In common with many other businesses of our size and nature, we use our auditor to prepare and submit
returns to the tax authorities and assist with the preparation of the financial statements.


18.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 9 April 2025 by Oliver Spevack ACA FCCA (senior statutory auditor) on behalf of Hamlyns Limited.


Page 13