Sanctus London Limited

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

Registered number: 10430289

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		125,817		160,118
Tangible Assets	5		6,977		5,358

			132,794		165,476
CURRENT ASSETS
Debtors	6	99,323		309,367
Cash at bank and in hand		122,610		878,778

		221,933		1,188,145
Creditors: Amounts Falling Due Within One Year	7	(1,230,915 )		(655,804 )

NET CURRENT ASSETS (LIABILITIES)			(1,008,982 )		532,341

TOTAL ASSETS LESS CURRENT LIABILITIES			(876,188 )		697,817

NET (LIABILITIES)/ASSETS			(876,188 )		697,817

CAPITAL AND RESERVES
Called up share capital	8		1,606,407		1,606,407
Share premium account			4,870,597		4,870,597
Profit and Loss Account			(7,353,192 )		(5,779,187 )

SHAREHOLDERS' FUNDS			(876,188)		697,817

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Sanctus London 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 Stephen Read

Director

19th September 2025

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

1. General Information

Sanctus London Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10430289 . The registered office is 44 Catherine Place, London, England, SW1E 6HL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

Sanctus London Limited is a 100% owned subsidiary of Sanctus Group Limited.On 23 January 2025 and 27 May 2025, the investors of Sanctus Group Limited subscribed for two separate secured loan notes issued by Sanctus Group Limited, each with a nominal amount of £1,000,000. Each loan note carries a fixed interest rate of 8% per annum. These loans are to fund estimated cash requirements of Sanctus London Limited for the foreseeable future.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to on a straight line basis over their expected useful economic lives, which range is 3 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. 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:

Computer Equipment

3 year Straight Line method

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Sanctus London Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2023: 25)

4. Intangible Assets

	Software Development
	£
Cost
As at 1 January 2024	188,412
Additions	51,734

As at 31 December 2024	240,146

Amortisation
As at 1 January 2024	28,294
Provided during the period	86,035

As at 31 December 2024	114,329

Net Book Value
As at 31 December 2024	125,817

As at 1 January 2024	160,118

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	18,693
Additions	6,641

As at 31 December 2024	25,334

Depreciation
As at 1 January 2024	13,335
Provided during the period	5,022

As at 31 December 2024	18,357

Net Book Value
As at 31 December 2024	6,977

As at 1 January 2024	5,358

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Sanctus London Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	47,810	248,867
Other debtors	51,513	60,500

	99,323	309,367

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	97,716	73,585
Amounts owed to group undertakings	754,241	-
Other creditors	311,046	478,106
Taxation and social security	67,912	104,113

	1,230,915	655,804

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,606,407	1,606,407

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