Silverfin false false 30/09/2024 01/10/2023 30/09/2024 K Maplesden 06/07/2009 23 July 2025 no description of principal activity 06952875 2024-09-30 06952875 bus:Director1 2024-09-30 06952875 2023-09-30 06952875 core:CurrentFinancialInstruments 2024-09-30 06952875 core:CurrentFinancialInstruments 2023-09-30 06952875 core:ShareCapital 2024-09-30 06952875 core:ShareCapital 2023-09-30 06952875 core:RetainedEarningsAccumulatedLosses 2024-09-30 06952875 core:RetainedEarningsAccumulatedLosses 2023-09-30 06952875 core:OfficeEquipment 2023-09-30 06952875 core:ComputerEquipment 2023-09-30 06952875 core:OfficeEquipment 2024-09-30 06952875 core:ComputerEquipment 2024-09-30 06952875 core:CurrentFinancialInstruments 10 2024-09-30 06952875 core:CurrentFinancialInstruments 10 2023-09-30 06952875 2023-10-01 2024-09-30 06952875 bus:FilletedAccounts 2023-10-01 2024-09-30 06952875 bus:SmallEntities 2023-10-01 2024-09-30 06952875 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 06952875 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 06952875 bus:Director1 2023-10-01 2024-09-30 06952875 core:OfficeEquipment 2023-10-01 2024-09-30 06952875 core:ComputerEquipment 2023-10-01 2024-09-30 06952875 2022-10-01 2023-09-30 06952875 core:CurrentFinancialInstruments 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 06952875 (England and Wales)

FOURTHLINE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

FOURTHLINE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

FOURTHLINE LIMITED

BALANCE SHEET

As at 30 September 2024
FOURTHLINE LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 10,340 15,433
10,340 15,433
Current assets
Debtors 4 181,778 87,328
Cash at bank and in hand 5 33,101 2,551
214,879 89,879
Creditors: amounts falling due within one year 6 ( 146,775) ( 127,049)
Net current assets/(liabilities) 68,104 (37,170)
Total assets less current liabilities 78,444 (21,737)
Provision for liabilities ( 2,583) ( 3,059)
Net assets/(liabilities) 75,861 ( 24,796)
Capital and reserves
Called-up share capital 100 100
Profit and loss account 75,761 ( 24,896 )
Total shareholders' funds/(deficit) 75,861 ( 24,796)

For the financial year ending 30 September 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 Fourthline Limited (registered number: 06952875) were approved and authorised for issue by the Director on 23 July 2025. They were signed on its behalf by:

K Maplesden
Director
FOURTHLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
FOURTHLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Fourthline 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 Arkwright House, Parsonage Gardens, Manchester, M3 2LF, 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 following principal accounting policies have been applied:

Going concern

The financial statements have been prepared on a going concern basis. The following paragraphs set out the basis of which the director has reached their conclusion.

The Company has Total assets less current assets of £78,444 (2023: -£21,737), and net assets of £75,861 (2023: -£24,796) at 30 September 2024.

The Company currently meets its working capital requirements through its cash balances and invoice discounting facility. The director believes the company has sufficient facilities to trade through the next 12 month period. Therefore, the director believes it is appropriate to prepare the accounts to 30 September 2024 on a going concern basis and there will be no adverse effect on solvency for more than 12 months after the date of approval of the financial statements.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Employee benefits

Defined contribution schemes
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.

Taxation

Current tax
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
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.

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.

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 33 % reducing balance
Computer equipment 33 % 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.

Borrowing costs

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

Trade and other 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.

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.

Trade and other 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 8

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 October 2023 2,209 52,915 55,124
At 30 September 2024 2,209 52,915 55,124
Accumulated depreciation
At 01 October 2023 2,169 37,522 39,691
Charge for the financial year 13 5,080 5,093
At 30 September 2024 2,182 42,602 44,784
Net book value
At 30 September 2024 27 10,313 10,340
At 30 September 2023 40 15,393 15,433

4. Debtors

2024 2023
£ £
Trade debtors 64,800 30,025
Corporation tax 0 24,812
Other taxation and social security 5,260 0
Other debtors 111,718 32,491
181,778 87,328

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 33,101 2,551
Less: Bank overdrafts 0 ( 36,695)
33,101 (34,144)

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 0 36,695
Trade creditors 2,648 19,088
Taxation and social security 68,561 43,171
Other creditors 75,566 28,095
146,775 127,049

There is a fixed and floating charge over the assets of the company.

7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 10 1,224

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 £4,052 (2023: £8,985) Contributions totalling £10 (2023: £1,224) were payable to the fund at the balance sheet date and are included in other creditors.

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Director's loan account 111,096 15,586

During the year the director of the company was advanced £127,751 (2023: £22,187) by the company and repaid £33,397 (2023: £6,601). At the year end the director owed the company £111,096 (2023: £15,586). The maximum outstanding in the year was £111,096 (2023: £15,586). Interest of £1,156 (2023: £134) was charged on the loan in the year.