Company Registration No. 11935713 (England and Wales)
S94 Ltd.
Unaudited accounts
for the year ended 30 April 2022
S94 Ltd.
Unaudited accounts
Contents
S94 Ltd.
Company Information
for the year ended 30 April 2022
Directors
Sam Howarth
Jack Ryder
Secretary
OHS Secretaries Limited
Company Number
11935713 (England and Wales)
Registered Office
9th Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
S94 Ltd.
Statement of financial position
as at
30 April 2022
Called up share capital not paid
1
-
Intangible assets
11,596
-
Cash at bank and in hand
109,554
93,236
Creditors: amounts falling due within one year
(3,260,149)
(2,078,642)
Net current liabilities
(3,126,591)
(1,978,472)
Net liabilities
(3,114,994)
(1,978,472)
Called up share capital
1
1
Profit and loss account
(3,114,995)
(1,978,473)
Shareholders' funds
(3,114,994)
(1,978,472)
For the year ending 30 April 2022 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2022 and were signed on its behalf by
Jack Ryder
Director
Company Registration No. 11935713
S94 Ltd.
Notes to the Accounts
for the year ended 30 April 2022
S94 Ltd. is a private company, limited by shares, registered in England and Wales, registration number 11935713. The registered office is 9th Floor, 107 Cheapside, London, EC2V 6DN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts have been prepared on the assumption that the company is able to carry of its activities as a going concern for the foreseeable future.
Intangible fixed assets consist of cryptocurrencies and non-fungible tokens which are initially recognised at cost at the date of purchase and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in profit or loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
S94 Ltd. has incurred qualifying research and development expenditure under the Research and Development tax relief scheme during the financial year. A qualifying claim is expected to be made after the balance sheet date which may result
in a tax credit recognised in subsequent periods.
Research and development tax credit
During the financial year, S94 Ltd. received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
S94 Ltd.
Notes to the Accounts
for the year ended 30 April 2022
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants are received in relation to the Coronavirus Job Retention Scheme and in relation to business rates relief which are credited to the profit and loss on receipt. The corresponding expense is also included within the profit and loss for the same period.
4
Intangible fixed assets
Other
5
Debtors: amounts falling due within one year
2022
2021
Accrued income and prepayments
10,232
1,333
Other debtors
9,000
2,001
6
Creditors: amounts falling due within one year
2022
2021
Amounts owed to group undertakings and other participating interests
3,219,299
2,053,327
Taxes and social security
38,108
17,152
Other creditors
989
11,155
Loans from directors
1,563
(3,054)
At the year end £1,563 was owed to directors from the company. See note 8 for more detail.
S94 Ltd.
Notes to the Accounts
for the year ended 30 April 2022
7
Share capital
2022
2021
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan account
(1,026)
1,539
-
513
Directors loan account
(2,028)
3,078
-
1,050
9
Transactions with related parties
No disclosure has been made of transactions with other wholly owned group companies as the company itself is a wholly owned subsidiary of S94 Inc.
The immediate and ultimate parent company is S94 Inc., registered in the United States of America. S94 Inc. is also the ultimate controlling party.
11
Average number of employees
During the year the average number of employees was 11 (2021: 13).