Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr D G C Hawker 23/06/2005 Ms K Hawker 26/09/2005 Ms L E Parker 22/07/2004 Mr T D E Parker 22/07/2004 18 April 2024 The principal activity of the company is investment research. The company is authorised and regulated by the Financial Conduct Authority. 05186821 2023-12-31 05186821 bus:Director1 2023-12-31 05186821 bus:Director2 2023-12-31 05186821 bus:Director3 2023-12-31 05186821 bus:Director4 2023-12-31 05186821 2022-12-31 05186821 core:CurrentFinancialInstruments 2023-12-31 05186821 core:CurrentFinancialInstruments 2022-12-31 05186821 core:ShareCapital 2023-12-31 05186821 core:ShareCapital 2022-12-31 05186821 core:SharePremium 2023-12-31 05186821 core:SharePremium 2022-12-31 05186821 core:RetainedEarningsAccumulatedLosses 2023-12-31 05186821 core:RetainedEarningsAccumulatedLosses 2022-12-31 05186821 core:FurnitureFittings 2022-12-31 05186821 core:FurnitureFittings 2023-12-31 05186821 2023-01-01 2023-12-31 05186821 bus:FilletedAccounts 2023-01-01 2023-12-31 05186821 bus:SmallEntities 2023-01-01 2023-12-31 05186821 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05186821 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05186821 bus:Director1 2023-01-01 2023-12-31 05186821 bus:Director2 2023-01-01 2023-12-31 05186821 bus:Director3 2023-01-01 2023-12-31 05186821 bus:Director4 2023-01-01 2023-12-31 05186821 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 05186821 2022-01-01 2022-12-31 05186821 core:FurnitureFittings 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 05186821 (England and Wales)

MESSELS LIMITED

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

MESSELS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

MESSELS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
MESSELS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr D G C Hawker
Ms K Hawker
Ms L E Parker
Mr T D E Parker
SECRETARY Gravita Trustees Limited
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
BUSINESS ADDRESS Unit 2 Clockbarn Farm,
Hambledon Road, Godalming, Surrey, GU8 4AY
COMPANY NUMBER 05186821 (England and Wales)
ACCOUNTANT Gravita III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
MESSELS LIMITED

BALANCE SHEET

As at 31 December 2023
MESSELS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,904 1,571
1,904 1,571
Current assets
Debtors 4 43,984 34,045
Cash at bank and in hand 117,037 105,694
161,021 139,739
Creditors: amounts falling due within one year 5 ( 38,727) ( 36,558)
Net current assets 122,294 103,181
Total assets less current liabilities 124,198 104,752
Net assets 124,198 104,752
Capital and reserves
Called-up share capital 286 286
Share premium account 112,814 112,814
Profit and loss account 11,098 ( 8,348 )
Total shareholders' funds 124,198 104,752

For the financial year ending 31 December 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 Messels Limited (registered number: 05186821) were approved and authorised for issue by the Board of Directors on 18 April 2024. They were signed on its behalf by:

Mr T D E Parker
Director
MESSELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
MESSELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Messels 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 2 Leman Street, London, E1W 9US, United Kingdom. The principal place of business is Unit 2 Clockbarn Farm,, Hambledon Road, Godalming, Surrey, GU8 4AY.

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 £.

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 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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
No provision is necessary for deferred tax.

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:

Fixtures and fittings 2 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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

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.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 January 2023 8,896 8,896
Additions 1,809 1,809
At 31 December 2023 10,705 10,705
Accumulated depreciation
At 01 January 2023 7,325 7,325
Charge for the financial year 1,476 1,476
At 31 December 2023 8,801 8,801
Net book value
At 31 December 2023 1,904 1,904
At 31 December 2022 1,571 1,571

4. Debtors

2023 2022
£ £
Trade debtors 35,201 26,278
Prepayments 8,783 7,767
43,984 34,045

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,210 3,957
Accruals and deferred income 20,033 18,396
Taxation and social security 17,162 14,205
Other creditors 322 0
38,727 36,558