Shmool Limited


Directors	Davy-Martin, Lee Philip
	Kattan, Daniel Nicholas


Registered Address	5 Fleet Place
	First Floor
	London
	EC4M 7RD


Registered Number	14136594 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		586,363		147,624
Investments	4		369		34
			586,732		147,658
Current assets
Debtors	5	13,351,720		8,069,718
Current asset investments	6	6,954,015		6,611,304
Cash at bank and on hand		3,511,858		3,173,082
		23,817,593		17,854,104
Creditors amounts falling due within one year	7	(22,432,612)		(17,148,149)
Net current assets (liabilities)			1,384,981		705,955
Total assets less current liabilities			1,971,713		853,613
Net assets			1,971,713		853,613
Capital and reserves
Called up share capital			1		1
Revaluation reserve			567,016		(28,704)
Profit and loss account			1,404,696		882,316
Shareholders' funds			1,971,713		853,613

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 31 December 2025, and are signed on its behalf by:

Davy-Martin, Lee Philip
Director

Kattan, Daniel Nicholas
Director

Registered Company No. 14136594

Shmool Limited

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover represents income from various investments.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Cryptocurrency assets
	Cryptocurrency assets (under IAS 38) are recorded as intangible assets and can be measured at either cost or revaluation. The company has elected to measure them at revaluation as there is now an active market across across many digital exchanges. Therefore, these are recognised at fair value. The assets are held for investment purposes and therefore cannot be recognised as stock as they are not being held for sale in the ordinary course of business.

Cryptocurrency assets

Cryptocurrency assets (under IAS 38) are recorded as intangible assets and can be measured at either cost or revaluation. The company has elected to measure them at revaluation as there is now an active market across across many digital exchanges. Therefore, these are recognised at fair value. The assets are held for investment purposes and therefore cannot be recognised as stock as they are not being held for sale in the ordinary course of business.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 January 24	147,624
	Additions	243,617
	Revaluations	195,122
	At 31 December 24	586,363
	Net book value
	At 31 December 24	586,363
	At 31 December 23	147,624

4.	Fixed asset investments

		Total
		£
	Cost or valuation
	At 01 January 24	34
	Additions	335
	At 31 December 24	369
	Net book value
	At 31 December 24	369
	At 31 December 23	34

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Other debtors	13,285,333	8,047,236
Prepayments and accrued income	66,387	22,482
Total	13,351,720	8,069,718

6.	Current asset investments
	Cost or valuation At 01 January 2024 - 6,611,304 Additions - 125,970 Valuations - 216,740 At 31 December 2024 - 6,954,014 Net book value At 31 December 2024 - 6,954,014 At 31 December 2023 - 6,611,304

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	785	521
Bank borrowings and overdrafts	-	133
Taxation and social security	194,313	60,323
Other creditors	22,213,901	17,082,513
Accrued liabilities and deferred income	23,613	4,659
Total	22,432,612	17,148,149

8.	Related party transactions
	Within the accounts is a balance of £11,507,228 (2023: £10,807,697) due to Samuel Kattan, who owns 100% of the shareholding in the company. The loan is interest-free and repayable on demand. Within the accounts is a balance of £72,421 (2023: £72,421) owed from Habibas 2 Limited, a UK registered company in which Daniel Kattan is a Director. Within the accounts is a balance of £559,607 (2023: £304,659) owed to Davy-Martin & Co Limited, a UK registered company in which Lee Davy-Martin is a Director and Shareholder. Within the accounts is a balance of £202,549 owed from K4 Lending Limited, a UK registered company in which Daniel Kattan and Lee Davy-Martin are Directors and Shareholders.

Related party transactions

Within the accounts is a balance of £11,507,228 (2023: £10,807,697) due to Samuel Kattan, who owns 100% of the shareholding in the company. The loan is interest-free and repayable on demand. 

Within the accounts is a balance of £72,421 (2023: £72,421) owed from Habibas 2 Limited, a UK registered company in which Daniel Kattan is a Director.

Within the accounts is a balance of £559,607 (2023: £304,659) owed to Davy-Martin & Co Limited, a UK registered company in which Lee Davy-Martin is a Director and Shareholder.

Within the accounts is a balance of £202,549 owed from K4 Lending Limited, a UK registered company in which Daniel Kattan and Lee Davy-Martin are Directors and Shareholders.