Sentware Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 02311888

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		67		89
Investment Properties	5		800,000		1,700,000

			800,067		1,700,089
CURRENT ASSETS
Debtors	6	1,039,915		43,270
Investments	7	200		-
Cash at bank and in hand		16,212		27,742

		1,056,327		71,012
Creditors: Amounts Falling Due Within One Year	8	(628,154 )		(64,762 )

NET CURRENT ASSETS (LIABILITIES)			428,173		6,250

TOTAL ASSETS LESS CURRENT LIABILITIES			1,228,240		1,706,339

Creditors: Amounts Falling Due After More Than One Year	9		(105,000 )		(576,184 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(37,713 )		(64,936 )

NET ASSETS			1,085,527		1,065,219

CAPITAL AND RESERVES
Called up share capital			10,100		10,100
Fair value reserve			341,749		740,525
Profit and Loss Account			733,678		314,594

SHAREHOLDERS' FUNDS			1,085,527		1,065,219

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Sentware Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Norman Han

Director

05/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Sentware Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02311888 . The registered office is 51 Church Road, London, NW4 4DU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements for the year ended 31 December 2024 are the first financial statements that comply with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial effects of the transition to the FRS 102 Section 1A are set out in Note 12 below.

2.2. Turnover

Turnover represents net rental and other related income, excluding value added tax.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25%

2.4. Investment Properties

Investment properties are carried at fair value determined annually by the directors or by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

2.5. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Capital gains tax on uncrystallised gains on property investments is provided in the financial statements using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6. GOING CONCERN / POST BALANCE SHEET EVENTS

The directors have considered the working capital position of the company and future working capital requirements, including any impact from the ongoing conflict in Ukraine and the current level of inflation and high interest rate in the UK and are satisfied that the company will be able to meet its liabilities as they fall due for a period of not less than one year from date of approval of these financial statements.

After the year end, the company's loan with Atom bank of £620,102 expired on the 9th of April 2025. Sentware Ltd refinanced by securing the properties with Romaco SPV 2 Limited for £2,243,800.

3. Average Number of Employees

Average number of employees, including directors, during the year was 2 (2023: 2)

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Sentware Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2024	14,930

As at 31 December 2024	14,930

Depreciation
As at 1 January 2024	14,841
Provided during the period	22

As at 31 December 2024	14,863

Net Book Value
As at 31 December 2024	67

As at 1 January 2024	89

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	1,700,000
Disposals	(900,000 )

As at 31 December 2024	800,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2024	2023
	£	£
Cost	420,539	894,539

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	58,270	43,270
Due after more than one year
Amounts owed by group undertakings	981,645	-

	1,039,915	43,270

7. Current Asset Investments

	2024	2023
	£	£
Shares in subsidiaries	200	-

The company holds 100% of the issued ordinary share capital of Departware Ltd, a company incorporated in England and Wales, whose principal activity is property investment. Also the company holds another 100% of the issued ordinary share capital of Arrivewhere Ltd, a company incorporated in England and Wales, whose principal activity is non trading.

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Sentware Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	3,239	6,052
Bank loans and overdrafts	620,102	48,918
Other creditors	5,978	5,599
Taxation and social security	(1,165 )	4,193

	628,154	64,762

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	-	571,184
Other creditors	105,000	5,000

	105,000	576,184

10. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	620,102		620,102

11. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	64,936	64,936
Reversals	(27,223 )	(27,223)

Balance at 31 December 2024	37,713	37,713

Capital gains tax on uncrystallised gains on property investments is provided in the financial statements as shown

above.

12. Dividends

	2024	2023
	£	£
On equity shares:
Final dividend paid	2,000	8,000

During the period, total dividends of £2,000 were paid to the directors, Mr H. Norman and Mrs B. Pell.

13. Related Party Transactions

The directors and their companies rent premises from Sentware Ltd. Rent is charged at market rates.

During the year, the company sold a freehold property to its subsidiary, Departware Ltd, for £900,000. The transaction was conducted at market value, based on an independent professional valuation. No amounts were written off during the year in respect of this balance.

Included in Debtors falling due after more than one year there is an amount of £966,553 due from Departware Ltd, a subsidiary undertaking. Sentware Ltd has pledged not to call in the inter-company loan of £966,553 due to them (which is interest free) until Departware Ltd is in a position to pay.

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