Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Daniel James Lee 22/12/2009 17 April 2025 The principal activity of the Company during the financial year was development of software. 07111468 2024-12-31 07111468 bus:Director1 2024-12-31 07111468 2023-12-31 07111468 core:CurrentFinancialInstruments 2024-12-31 07111468 core:CurrentFinancialInstruments 2023-12-31 07111468 core:Non-currentFinancialInstruments 2024-12-31 07111468 core:Non-currentFinancialInstruments 2023-12-31 07111468 core:ShareCapital 2024-12-31 07111468 core:ShareCapital 2023-12-31 07111468 core:CapitalRedemptionReserve 2024-12-31 07111468 core:CapitalRedemptionReserve 2023-12-31 07111468 core:OtherCapitalReserve 2024-12-31 07111468 core:OtherCapitalReserve 2023-12-31 07111468 core:RetainedEarningsAccumulatedLosses 2024-12-31 07111468 core:RetainedEarningsAccumulatedLosses 2023-12-31 07111468 core:OtherPropertyPlantEquipment 2023-12-31 07111468 core:OtherPropertyPlantEquipment 2024-12-31 07111468 core:CostValuation 2023-12-31 07111468 core:AdditionsToInvestments 2024-12-31 07111468 core:CostValuation 2024-12-31 07111468 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-12-31 07111468 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 07111468 bus:OrdinaryShareClass1 2024-12-31 07111468 2024-01-01 2024-12-31 07111468 bus:FilletedAccounts 2024-01-01 2024-12-31 07111468 bus:SmallEntities 2024-01-01 2024-12-31 07111468 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07111468 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07111468 bus:Director1 2024-01-01 2024-12-31 07111468 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 07111468 2022-10-01 2023-12-31 07111468 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 07111468 bus:OrdinaryShareClass1 2022-10-01 2023-12-31 07111468 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07111468 (England and Wales)

ARTIRIX LTD

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

ARTIRIX LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ARTIRIX LTD

COMPANY INFORMATION

For the financial year ended 31 December 2024
ARTIRIX LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTOR Daniel James Lee
REGISTERED OFFICE 1 Fore Street Avenue
C/O Praxis
London
EC2Y 9DT
United Kingdom
COMPANY NUMBER 07111468 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
ARTIRIX LTD

BALANCE SHEET

As at 31 December 2024
ARTIRIX LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.12.2023
£ £
Fixed assets
Tangible assets 3 5,477 7,302
Investments 4 372,502 75,002
377,979 82,304
Current assets
Debtors
- due within one year 5 309,017 568,496
- due after more than one year 5 856,500 940,315
Cash at bank and in hand 535,818 405,560
1,701,335 1,914,371
Creditors: amounts falling due within one year 6 ( 25,488) ( 56,490)
Net current assets 1,675,847 1,857,881
Total assets less current liabilities 2,053,826 1,940,185
Net assets 2,053,826 1,940,185
Capital and reserves
Called-up share capital 7 500 500
Capital redemption reserve 1,578,182 1,578,182
Other reserves 1,000,000 1,000,000
Profit and loss account ( 524,856 ) ( 638,497 )
Total shareholder's funds 2,053,826 1,940,185

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.

Director's responsibilities:

The financial statements of Artirix Ltd (registered number: 07111468) were approved and authorised for issue by the Director on 17 April 2025. They were signed on its behalf by:

Daniel James Lee
Director
ARTIRIX LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ARTIRIX LTD

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 period, unless otherwise stated.

General information and basis of accounting

Artirix Ltd (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 1 Fore Street Avenue, C/O Praxis, London, EC2Y 9DT, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account 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.

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:

Plant and machinery etc. 25 % reducing balance

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.

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 Profit and Loss Account as described below.

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 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.12.2024
Period from
01.10.2022 to
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 96,603 96,603
At 31 December 2024 96,603 96,603
Accumulated depreciation
At 01 January 2024 89,301 89,301
Charge for the financial year 1,825 1,825
At 31 December 2024 91,126 91,126
Net book value
At 31 December 2024 5,477 5,477
At 31 December 2023 7,302 7,302

4. Fixed asset investments

Loans Other investments Total
£ £ £
Cost or valuation before impairment
At 01 January 2024 0 75,002 75,002
Additions 297,500 0 297,500
At 31 December 2024 297,500 75,002 372,502
Carrying value at 31 December 2024 297,500 75,002 372,502
Carrying value at 31 December 2023 0 75,002 75,002

Other investments comprise listed investments at fair value and other investments at cost less impairment.

5. Debtors

31.12.2024 31.12.2023
£ £
Debtors: amounts falling due within one year
Trade debtors 32,145 37,818
Amounts owed by related parties 0 297,500
Other debtors 276,872 233,178
309,017 568,496
Debtors: amounts falling due after more than one year
Other debtors 856,500 940,315

6. Creditors: amounts falling due within one year

31.12.2024 31.12.2023
£ £
Taxation and social security 6,088 20,500
Other creditors 19,400 35,990
25,488 56,490

7. Called-up share capital

31.12.2024 31.12.2023
£ £
Allotted, called-up and fully-paid
5,000 Ordinary A shares of £ 0.10 each 500 500

8. Financial commitments

The Company had no material capital commitments at the year ended 31 December 2024.

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.