Silverfin false false 31/12/2023 01/01/2023 31/12/2023 E B A Haimes 19/12/2019 A E C Haimes 19/12/2019 01 May 2024 The principal activity of the Company during the financial year was the provision of management services and the making of business loans. 12371070 2023-12-31 12371070 bus:Director1 2023-12-31 12371070 bus:Director2 2023-12-31 12371070 core:Non-currentFinancialInstruments 2023-12-31 12371070 core:Non-currentFinancialInstruments 2022-12-31 12371070 2022-12-31 12371070 core:CurrentFinancialInstruments 2023-12-31 12371070 core:CurrentFinancialInstruments 2022-12-31 12371070 core:ShareCapital 2023-12-31 12371070 core:ShareCapital 2022-12-31 12371070 core:RetainedEarningsAccumulatedLosses 2023-12-31 12371070 core:RetainedEarningsAccumulatedLosses 2022-12-31 12371070 2023-01-01 2023-12-31 12371070 bus:FilletedAccounts 2023-01-01 2023-12-31 12371070 bus:SmallEntities 2023-01-01 2023-12-31 12371070 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12371070 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12371070 bus:Director1 2023-01-01 2023-12-31 12371070 bus:Director2 2023-01-01 2023-12-31 12371070 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 12371070 (England and Wales)

SCOTSGROVE ASSET MANAGEMENT LIMITED

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

SCOTSGROVE ASSET MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SCOTSGROVE ASSET MANAGEMENT LIMITED

BALANCE SHEET

As at 31 December 2023
SCOTSGROVE ASSET MANAGEMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Debtors
- due after more than one year 3 1,951,773 1,420,695
Cash at bank and in hand 27,678 171,710
1,979,451 1,592,405
Creditors: amounts falling due within one year 4 ( 163,487) ( 233,702)
Net current assets 1,815,964 1,358,703
Total assets less current liabilities 1,815,964 1,358,703
Net assets 1,815,964 1,358,703
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,815,864 1,358,603
Total shareholders' funds 1,815,964 1,358,703

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 Scotsgrove Asset Management Limited (registered number: 12371070) were approved and authorised for issue by the Board of Directors on 01 May 2024. They were signed on its behalf by:

E B A Haimes
Director
SCOTSGROVE ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SCOTSGROVE ASSET MANAGEMENT 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

Scotsgrove Asset Management 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 Office 5 Riverside Place, Taunton, Somerset, TA1 1JH, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for fees earned in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

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

Loans to other entities

The company makes loans to other entities. These are included within other debtors due within one year at amortised cost plus any unpaid interest due on these loans.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Debtors: amounts falling due after more than one year
Other debtors 1,951,773 1,420,695

4. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 161,711 138,798
Other creditors 1,776 94,904
163,487 233,702

5. Related party transactions

Transactions with entities in which the entity itself has a participating interest

Included within other debtors is a balance of £1,951,773 (2022: £1,420,695) due from Scotsgrove Holdings Limited, a company with some common shareholders. Included in this balance is £166,078 (2022: £109,345) of interest charged during the year.