Silverfin false 31/05/2023 01/06/2022 31/05/2023 A Barr 28/04/2014 R A Barr 28/04/2014 S Clark 12/08/2022 15/12/2020 N T Gibson 28/06/2022 28/04/2014 G Grant 01/03/2020 R Mccann 04/05/2021 Z Ogilvie 28/04/2014 V Woods 15/02/2021 06 February 2024 The principal activity of the company during the financial year was that of a holding company for its subsidiary entities. The principal activity of the wider group continued to be that of public relations, publishing, design, digital and campaign management. SC476307 2023-05-31 SC476307 bus:Director1 2023-05-31 SC476307 bus:Director2 2023-05-31 SC476307 bus:Director3 2023-05-31 SC476307 bus:Director4 2023-05-31 SC476307 bus:Director5 2023-05-31 SC476307 bus:Director6 2023-05-31 SC476307 bus:Director7 2023-05-31 SC476307 bus:Director8 2023-05-31 SC476307 2022-05-31 SC476307 core:CurrentFinancialInstruments 2023-05-31 SC476307 core:CurrentFinancialInstruments 2022-05-31 SC476307 core:ShareCapital 2023-05-31 SC476307 core:ShareCapital 2022-05-31 SC476307 core:CapitalRedemptionReserve 2023-05-31 SC476307 core:CapitalRedemptionReserve 2022-05-31 SC476307 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC476307 core:RetainedEarningsAccumulatedLosses 2022-05-31 SC476307 core:CostValuation 2022-05-31 SC476307 core:CostValuation 2023-05-31 SC476307 core:ProvisionsForImpairmentInvestments 2022-05-31 SC476307 core:ProvisionsForImpairmentInvestments 2023-05-31 SC476307 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-05-31 SC476307 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2022-05-31 SC476307 bus:OrdinaryShareClass1 2023-05-31 SC476307 bus:OrdinaryShareClass2 2023-05-31 SC476307 2022-06-01 2023-05-31 SC476307 bus:FullAccounts 2022-06-01 2023-05-31 SC476307 bus:SmallEntities 2022-06-01 2023-05-31 SC476307 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 SC476307 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC476307 bus:Director1 2022-06-01 2023-05-31 SC476307 bus:Director2 2022-06-01 2023-05-31 SC476307 bus:Director3 2022-06-01 2023-05-31 SC476307 bus:Director4 2022-06-01 2023-05-31 SC476307 bus:Director5 2022-06-01 2023-05-31 SC476307 bus:Director6 2022-06-01 2023-05-31 SC476307 bus:Director7 2022-06-01 2023-05-31 SC476307 bus:Director8 2022-06-01 2023-05-31 SC476307 2021-06-01 2022-05-31 SC476307 core:CurrentFinancialInstruments 2022-06-01 2023-05-31 SC476307 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 SC476307 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 SC476307 bus:OrdinaryShareClass2 2022-06-01 2023-05-31 SC476307 bus:OrdinaryShareClass2 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC476307 (Scotland)

EXCHANGELAW (500) LIMITED

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

EXCHANGELAW (500) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023

Contents

EXCHANGELAW (500) LIMITED

BALANCE SHEET

AS AT 31 MAY 2023
EXCHANGELAW (500) LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 8,687,580 8,687,580
8,687,580 8,687,580
Current assets
Debtors 4 99 99
Cash at bank and in hand 5 435 435
534 534
Creditors: amounts falling due within one year 6 ( 298,692) ( 1,500,873)
Net current liabilities (298,158) (1,500,339)
Total assets less current liabilities 8,389,422 7,187,241
Net assets 8,389,422 7,187,241
Capital and reserves
Called-up share capital 7 140,000 140,000
Capital redemption reserve 60,000 60,000
Profit and loss account 8,189,422 6,987,241
Total shareholders' funds 8,389,422 7,187,241

For the financial year ending 31 May 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 Exchangelaw (500) Limited (registered number: SC476307) were approved and authorised for issue by the Director on 06 February 2024. They were signed on its behalf by:

V Woods
Director
EXCHANGELAW (500) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

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

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.

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

Other investments Total
£ £
Carrying value before impairment
At 01 June 2022 8,687,580 8,687,580
At 31 May 2023 8,687,580 8,687,580
Provisions for impairment
At 01 June 2022 0 0
At 31 May 2023 0 0
Carrying value at 31 May 2023 8,687,580 8,687,580
Carrying value at 31 May 2022 8,687,580 8,687,580

4. Debtors

2023 2022
£ £
Amounts owed by fellow subsidiaries 99 99

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 435 435

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to fellow subsidiaries 298,593 33,275
Other taxation and social security 0 518
Other creditors 99 1,467,080
298,692 1,500,873

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
120,000 Ordinary A shares of £ 1.00 each 120,000 120,000
20,000 Ordinary B shares of £ 1.00 each 20,000 20,000
140,000 140,000

8. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member