Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Mr J P Bennett 11/12/2015 Mr G P Brewster 15/12/2005 Mr I J Fergusson 25/02/2008 Mr C J Grinyer 11/12/2015 Mr I F Hannon 11/12/2015 Mr G F Stewart 11/12/2015 29 August 2024 The principal activity of the company continued to be that of an investment company, SC237007 2023-11-30 SC237007 bus:Director1 2023-11-30 SC237007 bus:Director2 2023-11-30 SC237007 bus:Director3 2023-11-30 SC237007 bus:Director4 2023-11-30 SC237007 bus:Director5 2023-11-30 SC237007 bus:Director6 2023-11-30 SC237007 2022-11-30 SC237007 core:CurrentFinancialInstruments 2023-11-30 SC237007 core:CurrentFinancialInstruments 2022-11-30 SC237007 core:ShareCapital 2023-11-30 SC237007 core:ShareCapital 2022-11-30 SC237007 core:RevaluationReserve 2023-11-30 SC237007 core:RevaluationReserve 2022-11-30 SC237007 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC237007 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC237007 core:CostValuation 2022-11-30 SC237007 core:AdditionsToInvestments 2023-11-30 SC237007 core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments 2023-11-30 SC237007 core:CostValuation 2023-11-30 SC237007 bus:OrdinaryShareClass1 2023-11-30 SC237007 2022-12-01 2023-11-30 SC237007 bus:FilletedAccounts 2022-12-01 2023-11-30 SC237007 bus:SmallEntities 2022-12-01 2023-11-30 SC237007 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC237007 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC237007 bus:Director1 2022-12-01 2023-11-30 SC237007 bus:Director2 2022-12-01 2023-11-30 SC237007 bus:Director3 2022-12-01 2023-11-30 SC237007 bus:Director4 2022-12-01 2023-11-30 SC237007 bus:Director5 2022-12-01 2023-11-30 SC237007 bus:Director6 2022-12-01 2023-11-30 SC237007 2021-12-01 2022-11-30 SC237007 core:CurrentFinancialInstruments 2022-12-01 2023-11-30 SC237007 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC237007 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC237007 (Scotland)

J&E NOMINEES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

J&E NOMINEES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

J&E NOMINEES LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023
J&E NOMINEES LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 7,295,199 7,195,357
7,295,199 7,195,357
Current assets
Debtors 4 0 29
Cash at bank and in hand 1,827 113,999
1,827 114,028
Creditors: amounts falling due within one year 5 ( 3,753,711) ( 3,766,737)
Net current liabilities (3,751,884) (3,652,709)
Total assets less current liabilities 3,543,315 3,542,648
Provision for liabilities ( 482,134) ( 482,134)
Net assets 3,061,181 3,060,514
Capital and reserves
Called-up share capital 6 100 100
Revaluation reserve 1,566,735 1,566,735
Profit and loss account 1,494,346 1,493,679
Total shareholders' funds 3,061,181 3,060,514

For the financial year ending 30 November 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 J&E Nominees Limited (registered number: SC237007) were approved and authorised for issue by the Board of Directors on 29 August 2024. They were signed on its behalf by:

Mr G P Brewster
Director
J&E NOMINEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
J&E NOMINEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 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

J&E Nominees 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 13 Albert Square, Dundee, DD1 1XA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investments 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 £.

Going concern

At 30 November 2023 the company has net current liabilities of £3,751,884. The partnership of J&E Shepherd intends to continue to support the company in meeting its obligations as they fall due, and as such the Directors believe it is appropriate to prepare these financial statements on a going concern basis.

Turnover

Turnover represents property rents receivable net of VAT, recognised evenly over the applicable rental term.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Fixed asset investments

Equity investments are initially measured at cost and subsequently measured at fair value through profit or loss. The directors assess fair value of investments based on recent sale of shares and any other available relevant information.

Receivable loans are included within investments where they are internally reported and managed as part of the company's investment portfolio. Such loans may have long term repayment terms at the balance sheet date, however the cash flows associated with such debt instruments are not managed in the company's projections on this basis, but rather any call for cash settlement within their terms is considered in the context of the company's overall investment strategy.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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 measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Fixed asset investments

Investments in associates Loans Total
£ £ £
Cost or valuation before impairment
At 01 December 2022 5,615,322 1,580,035 7,195,357
Additions 190 94,810 95,000
Change in value of loans receivable 0 4,842 4,842
At 30 November 2023 5,615,512 1,679,687 7,295,199
Carrying value at 30 November 2023 5,615,512 1,679,687 7,295,199
Carrying value at 30 November 2022 5,615,322 1,580,035 7,195,357

Unlisted investments related to unquoted equity investments and are measured at fair value through the profit and loss account. Debt instruments are measured at amortised cost less impairment. Loans to connected entities are interest free and repayable on demand.

4. Debtors

2023 2022
£ £
Trade debtors 0 29

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 156 44,623
Other creditors 3,753,555 3,722,114
3,753,711 3,766,737

£3,046,264 (2022: £3,006,264) within other creditors represents a loan due to J&E Shepherd, a partnership of which each of the company's shareholders is a partner. The balance is interest free and repayable on demand.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.10 each 100 100

7. Revaluation reserve

The revaluation reserve relates to fair value movements in investments and investment properties net of deferred tax. All amounts relating to investment properties have been released on disposal of the investment properties.