Silverfin false false 31/03/2025 01/04/2024 31/03/2025 J Gerrard 23/09/2016 K Mody 08/03/2016 A Sager 23/09/2016 01 April 2026 no description of principal activity 10049123 2025-03-31 10049123 bus:Director1 2025-03-31 10049123 bus:Director2 2025-03-31 10049123 bus:Director3 2025-03-31 10049123 2024-03-31 10049123 core:CurrentFinancialInstruments 2025-03-31 10049123 core:CurrentFinancialInstruments 2024-03-31 10049123 core:Non-currentFinancialInstruments 2025-03-31 10049123 core:Non-currentFinancialInstruments 2024-03-31 10049123 core:ShareCapital 2025-03-31 10049123 core:ShareCapital 2024-03-31 10049123 core:RetainedEarningsAccumulatedLosses 2025-03-31 10049123 core:RetainedEarningsAccumulatedLosses 2024-03-31 10049123 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 10049123 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 10049123 core:LandBuildings 2024-03-31 10049123 core:FurnitureFittings 2024-03-31 10049123 core:LandBuildings 2025-03-31 10049123 core:FurnitureFittings 2025-03-31 10049123 core:CurrentFinancialInstruments core:Secured 2025-03-31 10049123 bus:OrdinaryShareClass1 2025-03-31 10049123 2024-04-01 2025-03-31 10049123 bus:FilletedAccounts 2024-04-01 2025-03-31 10049123 bus:SmallEntities 2024-04-01 2025-03-31 10049123 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 10049123 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10049123 bus:Director1 2024-04-01 2025-03-31 10049123 bus:Director2 2024-04-01 2025-03-31 10049123 bus:Director3 2024-04-01 2025-03-31 10049123 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2024-04-01 2025-03-31 10049123 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 10049123 core:LandBuildings core:TopRangeValue 2024-04-01 2025-03-31 10049123 core:FurnitureFittings core:TopRangeValue 2024-04-01 2025-03-31 10049123 2023-04-01 2024-03-31 10049123 core:LandBuildings 2024-04-01 2025-03-31 10049123 core:FurnitureFittings 2024-04-01 2025-03-31 10049123 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 10049123 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10049123 (England and Wales)

# THREADOLOGY LONDON LTD

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

THREADOLOGY LONDON LTD

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

THREADOLOGY LONDON LTD

## BALANCE SHEET

As at 31 March 2025
THREADOLOGY LONDON LTD

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
|  |  |  | Restated - note 2
Fixed assets |  |  |  |
Intangible assets | 4 | 19,171 |  | 31,871
Tangible assets | 5 | 111,816 |  | 99,602
|  | 130,987 |  | 131,473
Current assets |  |  |  |
Stocks | 6 | 721,902 |  | 916,133
Debtors | 7 | 525,325 |  | 926,512
Cash at bank and in hand |  | 363,878 |  | 629,478
|  | 1,611,105 |  | 2,472,123
Creditors: amounts falling due within one year | 8 | ( 909,750) |  | ( 1,396,532)
Net current assets |  | 701,355 |  | 1,075,591
Total assets less current liabilities |  | 832,342 |  | 1,207,064
Creditors: amounts falling due after more than one year | 9 | ( 31,439) |  | ( 270,538)
Net assets |  | 800,903 |  | 936,526
Capital and reserves |  |  |  |
Called-up share capital | 10 | 100 |  | 100
Profit and loss account |  | 800,803 |  | 936,426
Total shareholder's funds |  | 800,903 |  | 936,526

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Threadology London Ltd (registered number: 10049123) were approved and authorised for issue by the Board of Directors on 01 April 2026. They were signed on its behalf by:

J Gerrard Director |

THREADOLOGY LONDON LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
THREADOLOGY LONDON LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Threadology London Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that itrelates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are notdiscounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantivelyenacted by the balance sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

#####

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs | 5 years straight line

###### Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 10 years straight line
Fixtures and fittings | 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

#### 2. Prior year adjustment

During the year, the directors identified an error in the treatment of the share premium, which was in fact a loan that was subsequently repaid. The share premium has now been reclassified as an other loan, and the financial statements for the year ended 31st March 2024 have been restated accordingly

|  | As previously reported |  | Adjustment |  | As restated
Year ended 31 March 2024 |  | £ |  | £ |  | £
Share premium |  | (199,975) |  | 199,975 |  | 0
Other loans (creditors) |  | 0 |  | 112,169 |  | 112,169
Other debtors |  | 87,806 |  | (87,806) |  | 0

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 18 |  | 21

#### 4. Intangible assets

| Development costs |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 212,257 |  | 212,257
At 31 March 2025 | 212,257 |  | 212,257
Accumulated amortisation |  |  |
At 01 April 2024 | 180,386 |  | 180,386
Charge for the financial year | 12,700 |  | 12,700
At 31 March 2025 | 193,086 |  | 193,086
Net book value |  |  |
At 31 March 2025 | 19,171 |  | 19,171
At 31 March 2024 | 31,871 |  | 31,871

#### 5. Tangible assets

| Land and buildings |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2024 | 125,000 |  | 370,955 |  | 495,955
Additions | 12,295 |  | 31,992 |  | 44,287
At 31 March 2025 | 137,295 |  | 402,947 |  | 540,242
Accumulated depreciation |  |  |  |  |
At 01 April 2024 | 46,875 |  | 349,478 |  | 396,353
Charge for the financial year | 13,556 |  | 18,517 |  | 32,073
At 31 March 2025 | 60,431 |  | 367,995 |  | 428,426
Net book value |  |  |  |  |
At 31 March 2025 | 76,864 |  | 34,952 |  | 111,816
At 31 March 2024 | 78,125 |  | 21,477 |  | 99,602

#### 6. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 721,902 |  | 916,133

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 505,525 |  | 432,034
Other debtors | 19,800 |  | 494,478
| 525,325 |  | 926,512

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank overdrafts (secured £ 179,018) | 226,582 |  | 461,509
Trade creditors | 322,240 |  | 610,445
Taxation and social security | 328,922 |  | 309,075
Other creditors | 32,006 |  | 15,503
| 909,750 |  | 1,396,532

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 24,056 |  | 29,611
Other creditors | 7,383 |  | 240,927
| 31,439 |  | 270,538

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100