Silverfin true 31/05/2023 01/06/2022 31/05/2023 A W Barr 28/05/2014 R A Barr 13/02/2023 N T Gibson 28/06/2022 28/05/2014 Z S Ogilvie 28/05/2014 14 February 2024 The principle activity of the Company during the financial year continued to be that of an employee benefit trust. The company was dormant in the year to 31 May 2023. SC478639 2023-05-31 SC478639 bus:Director1 2023-05-31 SC478639 bus:Director2 2023-05-31 SC478639 bus:Director3 2023-05-31 SC478639 bus:Director4 2023-05-31 SC478639 2022-05-31 SC478639 core:CurrentFinancialInstruments 2023-05-31 SC478639 core:CurrentFinancialInstruments 2022-05-31 SC478639 core:Non-currentFinancialInstruments 2023-05-31 SC478639 core:Non-currentFinancialInstruments 2022-05-31 SC478639 core:ShareCapital 2023-05-31 SC478639 core:ShareCapital 2022-05-31 SC478639 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC478639 core:RetainedEarningsAccumulatedLosses 2022-05-31 SC478639 core:CostValuation 2022-05-31 SC478639 core:CostValuation 2023-05-31 SC478639 core:ProvisionsForImpairmentInvestments 2022-05-31 SC478639 core:ProvisionsForImpairmentInvestments 2023-05-31 SC478639 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2023-05-31 SC478639 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2022-05-31 SC478639 bus:OrdinaryShareClass1 2023-05-31 SC478639 2022-06-01 2023-05-31 SC478639 bus:FullAccounts 2022-06-01 2023-05-31 SC478639 bus:SmallEntities 2022-06-01 2023-05-31 SC478639 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 SC478639 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC478639 bus:Director1 2022-06-01 2023-05-31 SC478639 bus:Director2 2022-06-01 2023-05-31 SC478639 bus:Director3 2022-06-01 2023-05-31 SC478639 bus:Director4 2022-06-01 2023-05-31 SC478639 2021-06-01 2022-05-31 SC478639 core:Non-currentFinancialInstruments 2022-06-01 2023-05-31 SC478639 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 SC478639 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 SC478639 1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC478639 (Scotland)

EXCHANGELAW (500) EBT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH THE REGISTRAR

EXCHANGELAW (500) EBT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023

Contents

EXCHANGELAW (500) EBT LIMITED

BALANCE SHEET

AS AT 31 MAY 2023
EXCHANGELAW (500) EBT LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 20,000 20,000
20,000 20,000
Current assets
Debtors 4 100 100
Cash at bank and in hand 5 46 46
146 146
Net current assets 146 146
Total assets less current liabilities 20,146 20,146
Creditors: amounts falling due after more than one year 6 ( 20,299) ( 20,299)
Net liabilities ( 153) ( 153)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account ( 154 ) ( 154 )
Total shareholder's deficit ( 153) ( 153)

Exchangelaw (500) EBT Limited (registered number: SC478639) did not trade during the current or preceding financial year and has made neither profit nor loss, nor any other comprehensive income. There have been no movements in shareholders’ funds during the current or preceding financial year and therefore no Statement of Changes of Equity has been included. For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The financial statements of Exchangelaw (500) EBT Limited (registered number: SC478639) were approved and authorised for issue by the Director on 14 February 2024. They were signed on its behalf by:

R A Barr
Director
EXCHANGELAW (500) EBT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
EXCHANGELAW (500) EBT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 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

Exchangelaw (500) EBT 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 3rd Floor Fountain House, 1-3 Woodside Crescent, Glasgow, G3 7UL, 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.

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 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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

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

The company had no employees in the current or prior year. The directors' are remunerated through group company and that work for this company is deemed incidental to their role.

3. Fixed asset investments

Listed investments Total
£ £
Carrying value before impairment
At 01 June 2022 20,000 20,000
At 31 May 2023 20,000 20,000
Provisions for impairment
At 01 June 2022 0 0
At 31 May 2023 0 0
Carrying value at 31 May 2023 20,000 20,000
Carrying value at 31 May 2022 20,000 20,000

4. Debtors

2023 2022
£ £
Other debtors 100 100

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 46 46

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to related parties 20,299 20,299

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

The company has taken advantage of the exemption available in FRS 102 Section 1A whereby it has not disclosed transactions with the immediate parent company or any wholly owned subsidiary undertaking of the group.

No guarantees have been given or received.

9. Ultimate controlling party

The immediate and ultimate parent undertaking is Exchangelaw (500) Limited which has its registered office at 3rd Floor Fountain House, 1-3 Woodside Crescent, Glasgow, G3 7UL.