ACCOUNTS - Final Accounts preparation

Registered number: 11050531

SEEDCAMP SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

REGISTERED NUMBER:11050531

SEEDCAMP SERVICES LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets			7,012		14,770
Current assets
Debtors: amounts falling due within one year	5	188,145		168,818
Cash at bank and in hand		223,510		85,868
		411,655		254,686
Creditors: amounts falling due within one year	6	(459,196)		(304,264)
Net current liabilities			(47,541)		(49,578)

Net liabilities			(40,529)		(34,808)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(40,530)	(34,809)
	(40,529)	(34,808)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 statement of comprehensive income 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 10 September 2025.

R Sohoni

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

SEEDCAMP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Seedcamp Services Limited (the 'Company') is a private company limited by shares, incorporated in the UK and registered in England & Wales with company number 11050531. The registered address of the Company is 16 Great Queen Street, London WC2B 5AH. Its principal activity is the provision of support services.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Going concern

The Company discloses net liabilities. It is reliant on the support of its parent. The parent has indicated that it will continue to support the Company for at least the next twelve months from the date of approval of the financial statements. Therefore the directors have prepared the financial statements on the going concern basis.

2.3

Revenue

Revenue represents amounts receivable for services rendered and is recognised when the services are provided. It is stated net of discounts and value added tax.

2.4

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.

2.5

Taxation

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.

2.6

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation.

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SEEDCAMP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

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:

Office equipment

33% straight line

2.7

Financial instruments

The Company does not trade in financial instruments and all such instruments arise directly from operations.
All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The Company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.
The Company's cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings.
Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished.
As the Company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.

Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 16).

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SEEDCAMP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2024	49,843
	Additions	1,191
	Disposals	(16,654)
	At 31 December 2024	34,380
	Depreciation
	At 1 January 2024	35,073
	Charge for the year on owned assets	8,949
	Disposals	(16,654)
	At 31 December 2024	27,368
	Net book value
	At 31 December 2024	7,012
	At 31 December 2023	14,770

Debtors

					2024	2023
					£	£


Trade debtors	6,000	-
Other debtors	99,593	115,739
Prepayments and accrued income	82,552	53,079
	188,145	168,818

Page 4

SEEDCAMP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	15,391	2,271
Amounts owed to group undertakings	159,420	95,094
Corporation tax	40,000	34,808
Other taxation and social security	49,035	2,876
Other creditors	20,561	9,131
Accruals and deferred income	174,789	160,084
	459,196	304,264

7.	Related party transactions
	The entire turnover derives from the Company's parent entity, Seedcamp Investment Management LLP. The amount due to the LLP at the year end was £159,420 (2023: £95,094).

8.	Controlling party

Seedcamp Investment Management LLP is the immediate and ultimate controlling party.

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