Silverfin false 31/03/2023 01/04/2022 31/03/2023 T W Hickling 21/01/2019 M A Waddoups 21/01/2019 16 October 2023 The principal activity of Bayesian Shift Ltd ('the company') is that of Security dealing on own account. 11777226 2023-03-31 11777226 bus:Director1 2023-03-31 11777226 bus:Director2 2023-03-31 11777226 2022-03-31 11777226 core:CurrentFinancialInstruments 2023-03-31 11777226 core:CurrentFinancialInstruments 2022-03-31 11777226 core:ShareCapital 2023-03-31 11777226 core:ShareCapital 2022-03-31 11777226 core:RetainedEarningsAccumulatedLosses 2023-03-31 11777226 core:RetainedEarningsAccumulatedLosses 2022-03-31 11777226 core:OfficeEquipment 2022-03-31 11777226 core:OfficeEquipment 2023-03-31 11777226 core:ListedExchangeTraded core:WithinOneYear 2023-03-31 11777226 core:ListedExchangeTraded core:WithinOneYear 2022-03-31 11777226 bus:OrdinaryShareClass1 2023-03-31 11777226 2022-04-01 2023-03-31 11777226 bus:FullAccounts 2022-04-01 2023-03-31 11777226 bus:SmallEntities 2022-04-01 2023-03-31 11777226 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11777226 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11777226 bus:Director1 2022-04-01 2023-03-31 11777226 bus:Director2 2022-04-01 2023-03-31 11777226 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 11777226 2021-04-01 2022-03-31 11777226 core:OfficeEquipment 2022-04-01 2023-03-31 11777226 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 11777226 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11777226 (England and Wales)

BAYESIAN SHIFT LIMITED

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

BAYESIAN SHIFT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

BAYESIAN SHIFT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
BAYESIAN SHIFT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,300 1,176
2,300 1,176
Current assets
Investments 4 1,613,244 1,085,639
Cash at bank and in hand 80,511 29,224
1,693,755 1,114,863
Creditors: amounts falling due within one year 5 ( 877,448) ( 772,674)
Net current assets 816,307 342,189
Total assets less current liabilities 818,607 343,365
Net assets 818,607 343,365
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 818,605 343,363
Total shareholders' funds 818,607 343,365

The notes on pages 8 to 12 form part of these financial statements.

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 Bayesian Shift Limited (registered number: 11777226) were approved and authorised for issue by the Director. They were signed on its behalf by:

M A Waddoups
Director

16 October 2023

BAYESIAN SHIFT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
BAYESIAN SHIFT 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

Bayesian Shift 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 35 Ballards Lane, London, N3 1XW, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Turnover

Turnover comprises profits and losses derived from dealings in futures and options, together with market maker and other rebates.

In accordance with accepted practice, the profits and losses from dealings in futures and options include unrealised profits and losses at the period end, as open positions are included at market value. This policy represents a departure from the statutory requirement to record positions and
instruments at the lower of cost and net realisable value.

The members consider this to be necessary to show a true and fair view, since the marketability of the instruments enables decisions to be taken continually about whether to hold or sell them, and hence the economic measure of profit in any period is properly made by reference to market values.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of
operating in the manner intended by management

Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Valuation of investments

Current asset investments are open positions on the Group's derivatives trading and these are measured at fair value through profit and loss as determined by market forces and the gains and losses arising are recognised in turnover.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2022 3,294 3,294
Additions 2,123 2,123
At 31 March 2023 5,417 5,417
Accumulated depreciation
At 01 April 2022 2,118 2,118
Charge for the financial year 999 999
At 31 March 2023 3,117 3,117
Net book value
At 31 March 2023 2,300 2,300
At 31 March 2022 1,176 1,176

4. Current asset investments

2023 2022
£ £
Listed investments – at fair value 1,613,244 1,085,639

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 138,370 77,486
Other creditors 739,078 695,188
877,448 772,674

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2