Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr C A Proctor 31/03/2022 Mr M W Tincknell 01/05/2015 22 August 2023 The principle activity of the company during the financial year was that of a holding company. 09572498 2023-03-31 09572498 bus:Director1 2023-03-31 09572498 bus:Director2 2023-03-31 09572498 2022-03-31 09572498 core:CurrentFinancialInstruments 2023-03-31 09572498 core:CurrentFinancialInstruments 2022-03-31 09572498 core:ShareCapital 2023-03-31 09572498 core:ShareCapital 2022-03-31 09572498 core:SharePremium 2023-03-31 09572498 core:SharePremium 2022-03-31 09572498 core:CapitalRedemptionReserve 2023-03-31 09572498 core:CapitalRedemptionReserve 2022-03-31 09572498 core:RetainedEarningsAccumulatedLosses 2023-03-31 09572498 core:RetainedEarningsAccumulatedLosses 2022-03-31 09572498 core:CostValuation 2022-03-31 09572498 core:CostValuation 2023-03-31 09572498 bus:OrdinaryShareClass1 2023-03-31 09572498 bus:OrdinaryShareClass2 2023-03-31 09572498 bus:PreferenceShareClass1 2023-03-31 09572498 2022-04-01 2023-03-31 09572498 bus:FullAccounts 2022-04-01 2023-03-31 09572498 bus:SmallEntities 2022-04-01 2023-03-31 09572498 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09572498 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09572498 bus:Director1 2022-04-01 2023-03-31 09572498 bus:Director2 2022-04-01 2023-03-31 09572498 2021-04-01 2022-03-31 09572498 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09572498 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 09572498 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 09572498 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 09572498 bus:PreferenceShareClass1 2022-04-01 2023-03-31 09572498 bus:PreferenceShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09572498 (England and Wales)

ONESERVE GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

ONESERVE GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

ONESERVE GROUP LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
ONESERVE GROUP LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mr C A Proctor
Mr M W Tincknell
SECRETARY Mrs K R Blake
REGISTERED OFFICE 1 Tiger Moth Road
Skypark
Exeter
EX5 2FW
England
United Kingdom
COMPANY NUMBER 09572498 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
ONESERVE GROUP LIMITED

BALANCE SHEET

As at 31 March 2023
ONESERVE GROUP LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 3,395,583 3,395,583
3,395,583 3,395,583
Creditors: amounts falling due within one year 5 ( 793) ( 793)
Net current liabilities (793) (793)
Total assets less current liabilities 3,394,790 3,394,790
Net assets 3,394,790 3,394,790
Capital and reserves
Called-up share capital 6 339,945 339,945
Share premium account 443,688 443,688
Capital redemption reserve 5,925 5,925
Profit and loss account 2,605,232 2,605,232
Total shareholders' funds 3,394,790 3,394,790

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Oneserve Group Limited (registered number: 09572498) were approved and authorised for issue by the Board of Directors on 22 August 2023. They were signed on its behalf by:

Mr C A Proctor
Director
ONESERVE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
ONESERVE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Oneserve Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Tiger Moth Road, Skypark, Exeter, EX5 2FW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of an option pricing model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

2. Critical accounting judgements and key sources of estimation uncertainty

The directors are satisfied, having considered the current financial position and performance of the company in light of the ongoing Covid-19 challenges that the going concern assessment (which is a critical accounting judgement) remains appropriate.

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods in the revision affects both current and future periods.

The key estimates that have a significant effect on the amounts recognised in the financial statements are as follows:
In respect of share based payments the fair value of share options is calculated with reference to an option pricing model.

In respect of the carrying value of the company’s investment in its subsidiary, in the opinion of the directors, based upon the information available to them, the investment is not impaired at the balance sheet date. The carrying amount is £3,395,583 (2022 - £3,395,583).

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 3,395,583
At 31 March 2023 3,395,583
Carrying value at 31 March 2023 3,395,583
Carrying value at 31 March 2022 3,395,583

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 793 793

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
5,537,500 Employee Ordinary shares of £ 0.001 each 5,537.50 5,537.50
69,609,130 Ordinary shares of £ 0.001 each 69,609.13 69,609.13
75,146.63 75,146.63
264,798,600 Preference shares of £ 0.001 each 264,798.60 264,798.60
339,945.23 339,945.23

7. Share based payments

The company has a share option scheme in which certain group employees participate - the Enterprise Management Incentive Share Option Scheme (“EMI Scheme”) taken on in June 2017 on the acquisition of its subsidiary Oneserve Limited. Under the EMI Scheme, the company has granted EMI options over ‘employee’ shares in the company. For each group employee within the scheme, a proportion of the options granted to them vests and is exercisable immediately on grant with the remainder vesting when certain company performance targets are met.

In the event of an acquisition, or other takeover event, the options are capable of exercise, but only then to the extent that options shares have vested up until that date. The directors have granted options to employees over 'employee’ ordinary share capital with exercise prices ranging from £0.000197 to £0.0197 per share, and an expiry date ranging between 10 June 2023 and 16 December 2026. As at 31 March 2023, the number of un-exercised options remaining was 17,968,300 (2022 - 17,968,300).

The directors have assessed the fair value of the share options at 31 March 2023 in accordance with the requirements of FRS102 and the underlying terms of the options. The fair value of the options included in the balance sheet is £Nil (2022 - £Nil).

The total expense recognised in the profit and loss account for the year was £Nil (2022 - £Nil).