Sharksfin Holdings Limited - Accounts to registrar (filleted) - small 18.2
Sharksfin Holdings Limited - Accounts to registrar (filleted) - small 18.2
| Unaudited Financial Statements |
| for the Year Ended 30 June 2021 |
| for |
| Sharksfin Holdings Limited |
| Sharksfin Holdings Limited (Registered number: 03409683) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Sharksfin Holdings Limited |
| Company Information |
| for the Year Ended 30 June 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants and Statutory Auditors |
| 146 High Street |
| Billericay |
| Essex |
| CM12 9DF |
| Sharksfin Holdings Limited (Registered number: 03409683) |
| Balance Sheet |
| 30 June 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Own shares | ( |
) | ( |
) |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Sharksfin Holdings Limited (Registered number: 03409683) |
| Balance Sheet - continued |
| 30 June 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Sharksfin Holdings Limited (Registered number: 03409683) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2021 |
| 1. | STATUTORY INFORMATION |
| Sharksfin Holdings Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Sharksfin Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents income received in respect of lending activities to various commercial limited companies. The revenue is recognised in the financial statements when interest is charged in accordance with the relevant loan agreements. Interest is charged at varying rates depending on the risk analysis of the borrower. Revenue in the Statement of Income includes interest income, finance charges and finance costs as permitted by applicable regulation and in pursuant to the loan agreement of the borrower. All interest and finance charges are recognised on an effective yield basis on the term of the loans. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Basic financial instruments |
| A financial asset held as an equity instrument is recognised initially at the transaction price (including transaction costs). |
| At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| Sharksfin Holdings Limited (Registered number: 03409683) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 balance sheet 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. |
| Investment income |
| Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 July 2020 |
| and 30 June 2021 |
| DEPRECIATION |
| At 1 July 2020 |
| and 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 July 2020 |
| and 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| Sharksfin Holdings Limited (Registered number: 03409683) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2021 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2020 |
| and 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| The director considers the fair value of the company's investment properties to be the same as the historical cost value of £3,729,579. The properties are commercial and rented to independent third parties. |
| The rental yield based on the historical cost is 10.5% , which the director has used to conclude that the historical costs value is also a fair value. |
| Therefore no adjustment has been made to the profit and loss account. |
| 7. | DEBTORS |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Tax |
| Accrued income |
| Prepayments |
| Amounts falling due after more than one year: |
| Trade debtors |
| Aggregate amounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 7,776,600 | 7,165,000 |
| Deferred income |
| Accrued expenses |