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REGISTERED NUMBER: 09401629 (England and Wales)












Financial Statements for the Year Ended 31 January 2022

for

Silverhill Finance Limited

Silverhill Finance Limited (Registered number: 09401629)






Contents of the Financial Statements
for the Year Ended 31 January 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Silverhill Finance Limited

Company Information
for the Year Ended 31 January 2022







DIRECTOR: I Pavelko





SECRETARY: Cargil Management Services Limited





REGISTERED OFFICE: 30 Churchill Place
London
E14 5RE





REGISTERED NUMBER: 09401629 (England and Wales)





AUDITORS: Zenith Audit Ltd trading as S H Landes
Statutory Auditors
85 Oakways
London
SE9 2NZ

Silverhill Finance Limited (Registered number: 09401629)

Balance Sheet
31 January 2022

31.1.22 31.1.21
Notes $    $   
CURRENT ASSETS
Investments 5 54,419,185 54,394,775
Cash at bank 224,845 137,911
54,644,030 54,532,686
CREDITORS
Amounts falling due within one year 6 (8,100 ) -
NET CURRENT ASSETS 54,635,930 54,532,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,635,930

54,532,686

CAPITAL AND RESERVES
Called up share capital 7 54,147,147 54,147,147
Retained earnings 488,783 385,539
SHAREHOLDERS' FUNDS 54,635,930 54,532,686

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 15 August 2022 and were signed by:





I Pavelko - Director


Silverhill Finance Limited (Registered number: 09401629)

Notes to the Financial Statements
for the Year Ended 31 January 2022

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in USD and this is also considered by the director to be the company's functional currency.

The financial statements have been prepared on a going concern basis. The director has reviewed the more short term position, taking into account the 12 months from the approval of the financial statements, and has concluded that, based on current levels of cash and given that the ultimate controlling party has expressed a willingness to provide financial support to the company, the company will be able to meet its liabilities as they fall due.

Interest income
Interest income is measured at the fair value of the consideration received.

Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Significant judgements and estimates
The company's assets valuation is based on discounted cashflow models using publicly available sources of information (interest and exchange rates) listed below:

- UAH National Bank of Ukraine Zero Coupon Yield Curve
- US Treasuries Actives Index
- USDUAH Non-deliverable forward index
- Ukrainian Hryvnia Spot

Investments
Investments in financial instruments are held as one trading portfolio and are measured at fair value through profit or loss. The fair value is calculated using discounted cashflow technique where discounting rates are defined based on the market data.

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.


Silverhill Finance Limited (Registered number: 09401629)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

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
Monetary assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director therefore continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. AUDITORS' REMUNERATION

31.1.22 31.1.21
$ $
Fees payable to the company's auditors for the audit of the company's financial
statements


11,882

5. CURRENT ASSET INVESTMENTS
31.1.22 31.1.21
$    $   
Unlisted investments 54,419,185 54,394,775

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
$    $   
Other creditors 8,100 -

7. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 31.1.22 31.1.21
value: $    $   
100 Ordinary £1 142 142
54,146,863 Ordinary $1 54,147,005 54,147,005
54,147,147 54,147,147

Silverhill Finance Limited (Registered number: 09401629)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Filip Lyapov (Senior Statutory Auditor)
for and on behalf of Zenith Audit Ltd trading as S H Landes

9. ULTIMATE CONTROLLING PARTY

The immediate holding company is Goldsmith Business Ltd, a company incorporated in the British Virgin
Islands. The ultimate controlling party is Mr Mykhaylo Chupryna.

10. AUDITOR LIABILITY LIMITATION AGREEMENT

An auditors' limitation of liability agreement has been approved by the members for the financial year ended 31 January 2022. The principal terms and conditions are as below:

- The agreement limits the amount of any liability owed to the Company by the auditors in respect of any negligence default, breach of duty or breach of trust, occurring in the course of audit of the Company's accounts and pursuant to this agreement the auditor may be guilty in relation to the Company.
- The agreement also stipulates the maximum aggregated amount payable in event of any of the circumstances stated above.