Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mrs L Seligman 01/03/2012 Mr M D Seligman 01/03/2012 20 November 2023 The principal activity of the Company during the financial year was managing investments. 07971734 2023-03-31 07971734 bus:Director1 2023-03-31 07971734 bus:Director2 2023-03-31 07971734 2022-03-31 07971734 core:CurrentFinancialInstruments 2023-03-31 07971734 core:CurrentFinancialInstruments 2022-03-31 07971734 core:ShareCapital 2023-03-31 07971734 core:ShareCapital 2022-03-31 07971734 core:RetainedEarningsAccumulatedLosses 2023-03-31 07971734 core:RetainedEarningsAccumulatedLosses 2022-03-31 07971734 core:CostValuation 2022-03-31 07971734 core:AdditionsToInvestments 2023-03-31 07971734 core:DisposalsRepaymentsInvestments 2023-03-31 07971734 core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 07971734 core:CostValuation 2023-03-31 07971734 core:ProvisionsForImpairmentInvestments 2022-03-31 07971734 core:ProvisionsForImpairmentInvestments 2023-03-31 07971734 bus:OrdinaryShareClass1 2023-03-31 07971734 2022-04-01 2023-03-31 07971734 bus:FullAccounts 2022-04-01 2023-03-31 07971734 bus:SmallEntities 2022-04-01 2023-03-31 07971734 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07971734 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07971734 bus:Director1 2022-04-01 2023-03-31 07971734 bus:Director2 2022-04-01 2023-03-31 07971734 2021-04-01 2022-03-31 07971734 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07971734 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07971734 (England and Wales)

M SELIGMAN AND CO LIMITED

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

M SELIGMAN AND CO LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

M SELIGMAN AND CO LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
M SELIGMAN AND CO LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mrs L Seligman
Mr M D Seligman
REGISTERED OFFICE 32 Kynance Mews
London
SW7 4QR
England
United Kingdom
COMPANY NUMBER 07971734 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
M SELIGMAN AND CO LIMITED

BALANCE SHEET

As at 31 March 2023
M SELIGMAN AND CO LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 3,459,745 1,125,737
3,459,745 1,125,737
Current assets
Debtors 4 14,332 139
Cash at bank and in hand 2,786,845 168,653
2,801,177 168,792
Creditors: amounts falling due within one year 5 ( 5,501,229) ( 498,615)
Net current liabilities (2,700,052) (329,823)
Total assets less current liabilities 759,693 795,914
Provision for liabilities ( 56,000) ( 74,700)
Net assets 703,693 721,214
Capital and reserves
Called-up share capital 6 1,000 1,000
Profit and loss account 702,693 720,214
Total shareholders' funds 703,693 721,214

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 M Seligman and Co Limited (registered number: 07971734) were approved and authorised for issue by the Board of Directors on 20 November 2023. They were signed on its behalf by:

Mr M D Seligman
Director
M SELIGMAN AND CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
M SELIGMAN AND CO 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

M Seligman and Co Limited 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:
32 Kynance Mews
London
SW7 4QR

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.

There are no material departures from FRS 102.

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

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.

Turnover

Other income is generated from the following:
- Dividends from listed investments are recognised in the profit and loss account on a receipt basis in the period in which it arises.
- Interest receivable is recognised in the profit (or) loss account on an accruals basis in the period in which it arises.
- The realised profit or loss upon the sale of investments is recognised in the profit and loss account in the period in which the sale occurs.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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.

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.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

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

3. Fixed asset investments

Listed investments Total
£ £
Carrying value before impairment
At 01 April 2022 1,125,737 1,125,737
Additions 2,634,462 2,634,462
Disposals ( 292,864) ( 292,864)
Movement in fair value ( 7,590) ( 7,590)
At 31 March 2023 3,459,745 3,459,745
Provisions for impairment
At 01 April 2022 0 0
At 31 March 2023 0 0
Carrying value at 31 March 2023 3,459,745 3,459,745
Carrying value at 31 March 2022 1,125,737 1,125,737

4. Debtors

2023 2022
£ £
Accrued income 14,332 139

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 5,496,939 494,655
Accruals 4,290 3,960
5,501,229 498,615

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

As at 31 March 2023 the profit and loss account included £209,361 (2022 - £258,516) of non-distributable reserves. This relates to the unrealised fair value gain on the listed investments, net of deferred tax.

7. Related party transactions

Transactions with the entity's directors

The amounts owed to directors at the year end was £5,496,939 (2022: £494,655). There is no interest due on the balance and the amount is repayable on demand.