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REGISTERED NUMBER: 07690970 (England and Wales)











Financial Statements

for the Year Ended 31 March 2023

for

SILVER CLOUD VENTURES LIMITED

SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SILVER CLOUD VENTURES LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr J N D Stelzer
Mrs A R Stelzer





REGISTERED OFFICE: 19 Holne Chase
London
N2 0QL





REGISTERED NUMBER: 07690970 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 121,007 141,928
Investments 5 8,277,315 3,710,066
Investment property 6 1,165,610 1,165,610
9,563,932 5,017,604

CURRENT ASSETS
Debtors 7 1,605,188 5,544,232
Cash at bank 1,434,397 668,733
3,039,585 6,212,965
CREDITORS
Amounts falling due within one year 8 2,439,848 1,844,278
NET CURRENT ASSETS 599,737 4,368,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,163,669

9,386,291

CREDITORS
Amounts falling due after more than one year 9 (24,007 ) (2,852 )

PROVISIONS FOR LIABILITIES 11 (287,911 ) (175,709 )
NET ASSETS 9,851,751 9,207,730

CAPITAL AND RESERVES
Called up share capital 12 41 41
Share premium 303,028 303,028
Fair value reserve 792,095 651,055
Retained earnings 8,756,587 8,253,606
SHAREHOLDERS' FUNDS 9,851,751 9,207,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:





Mr J N D Stelzer - Director


SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Silver Cloud Ventures 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover represents income from various investments.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on cost

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.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 15,643 134,509 2,832 152,984
Additions - - 3,845 3,845
Disposals - - (838 ) (838 )
At 31 March 2023 15,643 134,509 5,839 155,991
DEPRECIATION
At 1 April 2022 4,470 6,272 314 11,056
Charge for year 3,911 19,236 973 24,120
Eliminated on disposal - - (192 ) (192 )
At 31 March 2023 8,381 25,508 1,095 34,984
NET BOOK VALUE
At 31 March 2023 7,262 109,001 4,744 121,007
At 31 March 2022 11,173 128,237 2,518 141,928

5. FIXED ASSET INVESTMENTS

31.3.23 31.3.22
£    £   
Other investments not loans 8,277,315 3,710,066

Additional information is as follows:
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 588,509 1,079,718 1,668,227
Additions 4,385,408 232,711 4,618,119
Disposals (191,828 ) (111,398 ) (303,226 )
Revaluations 252,356 - 252,356
At 31 March 2023 5,034,445 1,201,031 6,235,476
NET BOOK VALUE
At 31 March 2023 5,034,445 1,201,031 6,235,476
At 31 March 2022 588,509 1,079,718 1,668,227

SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2023 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2022 252,355 - 252,355
Cost 4,782,090 1,201,031 5,983,121
5,034,445 1,201,031 6,235,476

Investments (neither listed nor unlisted) were as follows:
31.3.23 31.3.22
£    £   
Investment in subsidiaries 2,041,839 2,041,839

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Racemoor Ltd
Registered office: 19 Holne Chase, London, N2 0QL
Nature of business: Property development and trading
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 1,186,955 1,179,440
Profit for the year 7,515 19,891

Berfors Finance Ltd
Registered office: 19 Holne Chase, London, N2 0QL
Nature of business: Share trading
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 28,617 (72,448 )
Profit for the year 101,065 431,344

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,165,610
NET BOOK VALUE
At 31 March 2023 1,165,610
At 31 March 2022 1,165,610

SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 36,666 19,167
Amounts owed by group undertakings 10,059 3,792,817
Other debtors 1,511,990 1,721,435
VAT - 2,078
Prepayments and accrued income 46,473 8,735
1,605,188 5,544,232

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 10) 9,600 90,305
Other loans (see note 10) 194,000 -
Amounts owed to group undertakings 621,577 -
Tax 152,458 -
Social security and other taxes (5,615 ) 2,270
VAT 22,350 -
Other creditors 144,592 27,889
Directors' current accounts 1,226,750 1,562,008
Accruals and deferred income 74,136 161,806
2,439,848 1,844,278

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 10) 24,007 2,852

10. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 1,675
Bank loans 9,600 88,630
Other loans 194,000 -
203,600 90,305

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,600 2,852

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,407 -

SILVER CLOUD VENTURES LIMITED (REGISTERED NUMBER: 07690970)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 287,911 175,709

Deferred
tax
£   
Balance at 1 April 2022 175,709
Provided during year 112,202
Balance at 31 March 2023 287,911

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
4 A Ordinary £1 4 4
1 B Ordinary £1 1 1
11 C Ordinary £1 11 11
11 D Ordinary £1 11 11
11 E Ordinary £1 11 11
1 E1 Ordinary £1 1 1
1 D1 Ordinary £1 1 1
1 C1 Ordinary £1 1 1
41 41

13. TRANSACTIONS WITH DIRECTORS

At the balance sheet date the company owed the directors £1,226,751 (2022: £1,562,008).

14. RELATED PARTY DISCLOSURES

At the balance sheet date company was owed £10,059 (2022: £292,076) by Silver Cloud Capital LLP, owed £28,110 (2022: was owed £3,437,988) to Berfors Finance Ltd and was owed £593,467 (2022: owed £62,753) by Racemoor Ltd.

15. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J N D Stelzer.