Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr A Clover 04/03/2017 Mr M Clover 25/03/2021 Mr H Sommer 25/03/2021 20 October 2023 The principal activity of the company is that of an investment company. 10652245 2023-03-31 10652245 bus:Director1 2023-03-31 10652245 bus:Director2 2023-03-31 10652245 bus:Director3 2023-03-31 10652245 2022-03-31 10652245 core:CurrentFinancialInstruments 2023-03-31 10652245 core:CurrentFinancialInstruments 2022-03-31 10652245 core:Non-currentFinancialInstruments 2023-03-31 10652245 core:Non-currentFinancialInstruments 2022-03-31 10652245 core:ShareCapital 2023-03-31 10652245 core:ShareCapital 2022-03-31 10652245 core:RetainedEarningsAccumulatedLosses 2023-03-31 10652245 core:RetainedEarningsAccumulatedLosses 2022-03-31 10652245 core:OtherPropertyPlantEquipment 2022-03-31 10652245 core:OtherPropertyPlantEquipment 2023-03-31 10652245 core:CostValuation 2022-03-31 10652245 core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 10652245 core:CostValuation 2023-03-31 10652245 core:ProvisionsForImpairmentInvestments 2022-03-31 10652245 core:ProvisionsForImpairmentInvestments 2023-03-31 10652245 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-03-31 10652245 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-03-31 10652245 2022-04-01 2023-03-31 10652245 bus:FullAccounts 2022-04-01 2023-03-31 10652245 bus:SmallEntities 2022-04-01 2023-03-31 10652245 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10652245 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10652245 bus:Director1 2022-04-01 2023-03-31 10652245 bus:Director2 2022-04-01 2023-03-31 10652245 bus:Director3 2022-04-01 2023-03-31 10652245 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 10652245 2021-04-01 2022-03-31 10652245 core:Associate1 2022-04-01 2023-03-31 10652245 core:Associate1 1 2022-04-01 2023-03-31 10652245 core:Associate1 1 2021-04-01 2022-03-31 10652245 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure decimalUnit

Company No: 10652245 (England and Wales)

AH CLOVER LIMITED

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

AH CLOVER LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

AH CLOVER LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
AH CLOVER LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mr A Clover
Mr M Clover
Mr H Sommer
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
England
United Kingdom
COMPANY NUMBER 10652245 (England and Wales)
CHARTERED ACCOUNTANTS Dixon Wilson
22 Chancery Lane
London
WC2A 1LS
AH CLOVER LIMITED

BALANCE SHEET

As at 31 March 2023
AH CLOVER LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 2,525,045 2,564,141
2,525,045 2,564,141
Current assets
Debtors 5 0 14,433
Cash at bank and in hand 7,615 16,713
7,615 31,146
Creditors: amounts falling due within one year 6 ( 2,642,030) ( 107,752)
Net current liabilities (2,634,415) (76,606)
Total assets less current liabilities (109,370) 2,487,535
Creditors: amounts falling due after more than one year 0 ( 2,527,329)
Net liabilities ( 109,370) ( 39,794)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 109,371 ) ( 39,795 )
Total shareholder's deficit ( 109,370) ( 39,794)

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 AH Clover Limited (registered number: 10652245) were approved and authorised for issue by the Board of Directors on 20 October 2023. They were signed on its behalf by:

Mr H Sommer
Director
AH CLOVER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
AH CLOVER 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

AH Clover 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 22 Chancery Lane, London, WC2A 1LS, 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 £.

Going concern

The directors have assessed the Balance Sheet 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

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

Plant and machinery etc. 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.

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 Profit and Loss Account as described below.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on 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 change in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 1,909 1,909
At 31 March 2023 1,909 1,909
Accumulated depreciation
At 01 April 2022 1,909 1,909
At 31 March 2023 1,909 1,909
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Fixed asset investments

Listed investments Investments in associates Total
£ £ £
Carrying value before impairment
At 01 April 2022 49,544 2,514,597 2,564,141
Movement in fair value ( 39,096) 0 ( 39,096)
At 31 March 2023 10,448 2,514,597 2,525,045
Provisions for impairment
At 01 April 2022 0 0 0
At 31 March 2023 0 0 0
Carrying value at 31 March 2023 10,448 2,514,597 2,525,045
Carrying value at 31 March 2022 49,544 2,514,597 2,564,141

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
31.03.2023
Ownership
31.03.2022
ONE.IO Group Limited 6th Floor Kings House, 9 - 10 Haymarket, London, England, SW1Y 4BP Holding company Ordinary 41.00% 41.00%

5. Debtors

2023 2022
£ £
Other debtors 0 14,433

During the year the company wrote off £14,433 (2022 - £nil) of other debtors. £12,452 of the write off related to debts due from One.io Markets UK Limited, a company under common control.

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to related parties 91,654 103,496
Other creditors 2,550,376 4,256
2,642,030 107,752

Other creditors of £2,550,376 includes a loan from Jandy (JH) Limited, a company under common control, of £2,542,003, which was advanced during the year. The loan is interest free and repayable on demand.

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Director's current account 91,654 103,496

A director provided loan finance to the company during the period. The loan was interest free and repayable on demand. During the year £550,000 of the loan was advanced and was repaid in the year. At the balance sheet date the amount owed to A Clover was £91,654 (2022 - £103,496) .