Silverfin false 31/03/2023 01/04/2022 31/03/2023 Dr K A Howell 01/02/2023 W D Howell 02/03/2010 31 October 2023 The principal activity of the company continues to be that of a holding company. 07175252 2023-03-31 07175252 bus:Director1 2023-03-31 07175252 bus:Director2 2023-03-31 07175252 2022-03-31 07175252 core:CurrentFinancialInstruments 2023-03-31 07175252 core:CurrentFinancialInstruments 2022-03-31 07175252 core:Non-currentFinancialInstruments 2023-03-31 07175252 core:Non-currentFinancialInstruments 2022-03-31 07175252 core:ShareCapital 2023-03-31 07175252 core:ShareCapital 2022-03-31 07175252 core:RetainedEarningsAccumulatedLosses 2023-03-31 07175252 core:RetainedEarningsAccumulatedLosses 2022-03-31 07175252 core:CostValuation 2022-03-31 07175252 core:AdditionsToInvestments 2023-03-31 07175252 core:DisposalsDecreaseInInvestments 2023-03-31 07175252 core:CostValuation 2023-03-31 07175252 bus:OrdinaryShareClass1 2023-03-31 07175252 2022-04-01 2023-03-31 07175252 bus:FullAccounts 2022-04-01 2023-03-31 07175252 bus:SmallEntities 2022-04-01 2023-03-31 07175252 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07175252 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07175252 bus:Director1 2022-04-01 2023-03-31 07175252 bus:Director2 2022-04-01 2023-03-31 07175252 2021-04-01 2022-03-31 07175252 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07175252 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07175252 (England and Wales)

SINGULARITY UK HOLDINGS LTD

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

SINGULARITY UK HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

SINGULARITY UK HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
SINGULARITY UK HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 128,152 0
Investments 4 2 100
128,154 100
Current assets
Debtors
- due within one year 5 410,000 201
- due after more than one year 5 125,000 0
Cash at bank and in hand 1,248,134 684,865
1,783,134 685,066
Creditors: amounts falling due within one year 6 ( 47,657) ( 47,364)
Net current assets 1,735,477 637,702
Total assets less current liabilities 1,863,631 637,802
Net assets 1,863,631 637,802
Capital and reserves
Called-up share capital 7 102 100
Profit and loss account 1,863,529 637,702
Total shareholders' funds 1,863,631 637,802

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 Singularity UK Holdings Ltd (registered number: 07175252) were approved and authorised for issue by the Director on 31 October 2023. They were signed on its behalf by:

W D Howell
Director
SINGULARITY UK HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
SINGULARITY UK HOLDINGS LTD

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

Singularity UK Holdings Ltd (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 Caseley Wood, Lustleigh, Newton Abbot, TQ13 9TN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 0
Additions 128,152
As at 31 March 2023 128,152

Valuation

The 2023 valuations were made by the directors, on an open market value for existing use basis and was arrived at taking account of information from publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements.

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 100
Additions 2
Disposals ( 100)
At 31 March 2023 2
Carrying value at 31 March 2023 2
Carrying value at 31 March 2022 100

5. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Other debtors 410,000 201
Debtors: amounts falling due after more than one year
Other debtors 125,000 0

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 0 45,264
Other creditors 47,657 2,100
47,657 47,364

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
102 Ordinary shares of £ 1.00 each (2022: 100 shares of £ 1.00 each) 102 100

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Dividends paid to directors 211,200 0

During the year, the company made loans its directors, with a maximum amount outstanding of £15,929. The loan bore interest at 2% and was fully repaid within the year. At the balance sheet date, the company had loans due to its directors totalling £43,688 (2022 - £201 due to the company).