Second Market Limited
Registered number:
10358690
Balance sheet
As at
31 March 2022
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Notes
The company is a private limited company, incorporated and domiciled in England & Wales. The Company's registered office is Second Floor, 168 Shoreditch High Street, London, E1 6RA and their principal activity is that of a holding company.
Average number of employees
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The average monthly number of employees, including directors, during the year was 2
(2021 -
2
)
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
21 December 2022
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Second Market Limited
Notes to the financial statements
For the year ended 31 March 2022
1.
Accounting policies
Despite the company reporting net liabilities of £16,960 (2021: £35,835) as at 31 March 2022, the financial statements have been prepared on the going concern basis. Included within other creditors is an amount of £90,000 (2021: £90,000) due to Malcolm Burne, a director and shareholder in the Company. Mr Burne has confirmed that he will not call for repayment of this sum until the company has sufficient financial resources to do so without prejudice to the company's other creditors and that he will continue to provide the necessary financial support to the company in order to meet its lliabilities as and when they fall due for a period of at least 12 months from the date of approval of these financial statements.
Included within creditors is £50,000 due to Exchange Investment Trust PLC in relation to unpaid share capital.
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The average monthly number of employees, including the directors, during the year was as follows:
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Related party transactions
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During the year the company paid consultancy fees at market rate of £10,800 (2021: £10,543) to Veronika Oswaldova, a director and shareholder of the company.
The company also opertaed a directors loan account in the year with Malcolm Burne, a director and shareholder of the company. As at the year end the balance owed by the company was £90,000 (2021: £90,000)
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