Sorven Capital Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12301986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SORVEN CAPITAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M P Sorensen

E C Sorensen

REGISTERED OFFICE:

Farncombe House

Farncombe

Broadway

Worcestershire

WR12 7LJ

REGISTERED NUMBER:

12301986 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

4th Floor

St James House

St James Square

Cheltenham

Gloucestershire

GL50 3PR

FIXED ASSETS

Tangible assets

4

20,002

5,136

Investments

5

9,624,710

9,145,114

9,644,712

9,150,250

CURRENT ASSETS

Debtors

6

569,379

-

Cash at bank

1,553,719

622,636

2,123,098

622,636

CREDITORS

Amounts falling due within one year

7

10,324,848

9,219,069

NET CURRENT LIABILITIES

(8,201,750

)

(8,596,433

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,442,962

553,817

CAPITAL AND RESERVES

Called up share capital

8

11

Retained earnings

1,442,951

553,806

SHAREHOLDERS' FUNDS

1,442,962

553,817

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

M P Sorensen - Director

1.	STATUTORY INFORMATION

Sorven Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance 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 directors have reviewed the company's finances which confirm that the company has adequate support and funding available to continue to operate for the foreseeable future. The company relies upon the loans provided by the directors, included within other creditors. The directors therefore believe there are no material uncertainties that call into doubt the company's ability to continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents investment income received during the period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Valuation of investments

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in Statement of Comprehensive Income for the period.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Cash at bank

Cash at bank includes cash, cash equivalents and short-term liquid investments that are readily convertible to cash.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

Cost

At 1 April 2024

6,223

Additions

17,384

At 31 March 2025

23,607

Depreciation

At 1 April 2024

1,087

Charge for year

2,518

At 31 March 2025

3,605

Net book value

At 31 March 2025

20,002

At 31 March 2024

5,136

5.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

Totals

£

Cost or valuation

At 1 April 2024

7,218,627

1,926,487

9,145,114

Additions

1,000,215

5,606,887

6,607,102

Disposals

-

(5,345,440

)

(5,345,440

)

Revaluations

(360,670

)

-

(360,670

)

Impairments

-

(421,396

)

(421,396

)

At 31 March 2025

7,858,172

1,766,538

9,624,710

Net book value

At 31 March 2025

7,858,172

1,766,538

9,624,710

At 31 March 2024

7,218,627

1,926,487

9,145,114

Cost or valuation at 31 March 2025 is represented by:

Listed

Unlisted

investments

Totals

£

Valuation in 2021

1,521,196

-

1,521,196

Valuation in 2022

(1,777,185

)

(838,552

)

(2,615,737

)

Valuation in 2023

(544,556

)

(608,035

)

(1,152,591

)

Valuation in 2024

421,322

(75,000

)

346,322

Valuation in 2025

(360,670

)

(421,396

)

(782,066

)

Cost

8,598,065

3,709,521

12,307,586

7,858,172

1,766,538

9,624,710

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

569,379

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

9,600

-

Taxation and social security

53,995

7,713

Other creditors

10,261,253

9,211,356

10,324,848

9,219,069

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

2

A Ordinary

2

900

B Ordinary

0.01

9

11

9.	RELATED PARTY DISCLOSURES

Included in creditors: amounts falling due within one year are directors' loan accounts in the sum of £8,042,253 (2024: £6,977,396) which have been provided by Mr MP Sorensen £4,021,127 (2024:£3,488,698) and Mrs EC Sorensen £4,021,126 (2024: £3,488,698). The loans are unsecured, interest free and carry no fixed date of repayment.

Mr MP Sorensen is also a director of Skagen Conscience Capital Limited. During the period, Skagen Conscience Capital Limited provided management services to the company totalling £3,595 (2024: £18,825) and £nil (2024: £5,000) of this was outstanding at the balance sheet date and included in other creditors. The services provided related to the administration of the company.

Skagen Conscience Capital Limited also sublet a room to the company during the prior year. The costs incurred were £nil (2024: £8,100) and £nil (2023: £nil) was outstanding at the balance sheet date and included within other creditors.

Mr M P Sorensen is also a director of Sorven Partners Limited. During the period, the company received management services from Sorven Partners Limited totalling £29,472 and £nil of this was outstanding at the balance sheet date. The services provided related to the administration of Sorven Capital Limited.

10.	POST BALANCE SHEET EVENTS

Following the Statement of Financial Position date, one of the investments entered voluntary liquidation. This constitutes a non-adjusting event after the end of the reporting period as defined by FRS 102. Based on information available, it is probable that the investment will be impaired in the next financial year. No adjustment has been made to these financial statements as the event occurred after the reporting date.