Silverfin false 31/12/2022 01/01/2022 31/12/2022 Lisa Rosemary West 05/06/2014 17 October 2023 The principal activity of the Company during the financial year was that of holding an investment in Castlehill LLP. SC479327 2022-12-31 SC479327 bus:Director1 2022-12-31 SC479327 2021-12-31 SC479327 core:CurrentFinancialInstruments 2022-12-31 SC479327 core:CurrentFinancialInstruments 2021-12-31 SC479327 core:ShareCapital 2022-12-31 SC479327 core:ShareCapital 2021-12-31 SC479327 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC479327 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC479327 core:CostValuation 2021-12-31 SC479327 core:AdditionsToInvestments 2022-12-31 SC479327 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2022-12-31 SC479327 core:CostValuation 2022-12-31 SC479327 core:ProvisionsForImpairmentInvestments 2021-12-31 SC479327 core:ProvisionsForImpairmentInvestments 2022-12-31 SC479327 core:CurrentFinancialInstruments 10 2022-12-31 SC479327 core:CurrentFinancialInstruments 10 2021-12-31 SC479327 bus:OrdinaryShareClass1 2022-12-31 SC479327 2022-01-01 2022-12-31 SC479327 bus:FullAccounts 2022-01-01 2022-12-31 SC479327 bus:SmallEntities 2022-01-01 2022-12-31 SC479327 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 SC479327 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 SC479327 bus:Director1 2022-01-01 2022-12-31 SC479327 2021-01-01 2021-12-31 SC479327 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 SC479327 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC479327 (Scotland)

ELDERBAY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH THE REGISTRAR

ELDERBAY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022

Contents

ELDERBAY LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2022
ELDERBAY LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2022
Note 2022 2021
£ £
Fixed assets
Investments 3 1,104,273 1,085,108
1,104,273 1,085,108
Current assets
Debtors 4 6,308 0
Cash at bank and in hand 424,983 259,457
431,291 259,457
Creditors: amounts falling due within one year 5 ( 54,358) ( 84,561)
Net current assets 376,933 174,896
Total assets less current liabilities 1,481,206 1,260,004
Net assets 1,481,206 1,260,004
Capital and reserves
Called-up share capital 6 50 50
Profit and loss account 1,481,156 1,259,954
Total shareholder's funds 1,481,206 1,260,004

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Elderbay Limited (registered number: SC479327) were approved and authorised for issue by the Director on 17 October 2023. They were signed on its behalf by:

Lisa Rosemary West
Director
ELDERBAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
ELDERBAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
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

Elderbay Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Fraserburgh Business Centre, South Harbour Road, Fraserburgh, AB43 9TN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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.

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 Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including accruals and other loans, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 January 2022 1,085,108 1,085,108
Additions 274,395 274,395
Drawings ( 255,230) ( 255,230)
At 31 December 2022 1,104,273 1,104,273
Provisions for impairment
At 01 January 2022 0 0
At 31 December 2022 0 0
Carrying value at 31 December 2022 1,104,273 1,104,273
Carrying value at 31 December 2021 1,085,108 1,085,108

4. Debtors

2022 2021
£ £
Other taxation and social security 5,408 0
Other debtors 900 0
6,308 0

5. Creditors: amounts falling due within one year

2022 2021
£ £
Taxation and social security 50,472 73,664
Other creditors 3,886 10,897
54,358 84,561

6. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50

7. Related party transactions

Transactions with the entity's director

2022 2021
£ £
Director's Current Account - owed (by)/to the director (900) 7,369

The director operates a loan account with the company, there is no interest charged and there are no fixed terms of repayment.

Other related party transactions

2022 2021
£ £
Income from fixed asset investment 274,395 155,233