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Company No: 04053947 (England and Wales)

ESSENTIALLY DIFFERENT LIMITED

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

ESSENTIALLY DIFFERENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

ESSENTIALLY DIFFERENT LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
ESSENTIALLY DIFFERENT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
Director J Connelly
Registered office Springfield House
Springfield Road
Horsham
RH12 2RG
United Kingdom
Company number 04053947 (England and Wales)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
ESSENTIALLY DIFFERENT LIMITED

BALANCE SHEET

As at 31 August 2024
ESSENTIALLY DIFFERENT LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Current assets
Stocks 475,000 475,000
Debtors 5 2,610 2,610
Cash at bank and in hand 7 13
477,617 477,623
Creditors: amounts falling due within one year 6 ( 83,873) ( 61,281)
Net current assets 393,744 416,342
Total assets less current liabilities 393,744 416,342
Net assets 393,744 416,342
Capital and reserves
Called-up share capital 7 1,098 1,098
Share premium account 179,969 179,969
Capital redemption reserve 69 69
Profit and loss account 212,608 235,206
Total shareholders' funds 393,744 416,342

For the financial year ending 31 August 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 Essentially Different Limited (registered number: 04053947) were approved and authorised for issue by the Director on 21 August 2025. They were signed on its behalf by:

J Connelly
Director
ESSENTIALLY DIFFERENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
ESSENTIALLY DIFFERENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Essentially Different 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 Springfield House, Springfield Road, Horsham, RH12 2RG, 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 £1.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

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.

Stocks

Stock is comprised of property purchased for development. It is stated at the lower of cost and net realisable value. Net realisable value is based on selling prices less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 September 2023 100,000 100,000
At 31 August 2024 100,000 100,000
Accumulated amortisation
At 01 September 2023 100,000 100,000
At 31 August 2024 100,000 100,000
Net book value
At 31 August 2024 0 0
At 31 August 2023 0 0

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 September 2023 2,392 2,392
At 31 August 2024 2,392 2,392
Accumulated depreciation
At 01 September 2023 2,392 2,392
At 31 August 2024 2,392 2,392
Net book value
At 31 August 2024 0 0
At 31 August 2023 0 0

5. Debtors

2024 2023
£ £
Other debtors 2,610 2,610

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 35 0
Trade creditors 1,080 1,160
Accruals 2,280 2,160
Other creditors 80,478 57,961
83,873 61,281

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
109,784 Ordinary shares of £ 0.01 each 1,098 1,098