Silverfin false false 31/03/2024 01/12/2022 31/03/2024 J A B Scott 01/12/2022 A I Brown 01/12/2022 G C H Lomas 01/12/2022 30 August 2024 The principal activity of the company during the financial year was providing transactional capital to address the capital needs of businesses engaged in cross-border trade. 14519129 2024-03-31 14519129 bus:Director1 2024-03-31 14519129 bus:Director2 2024-03-31 14519129 bus:Director3 2024-03-31 14519129 core:CurrentFinancialInstruments 2024-03-31 14519129 core:ShareCapital 2024-03-31 14519129 core:RetainedEarningsAccumulatedLosses 2024-03-31 14519129 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 14519129 bus:OrdinaryShareClass1 2024-03-31 14519129 2022-12-01 2024-03-31 14519129 bus:FilletedAccounts 2022-12-01 2024-03-31 14519129 bus:SmallEntities 2022-12-01 2024-03-31 14519129 bus:AuditExemptWithAccountantsReport 2022-12-01 2024-03-31 14519129 bus:PrivateLimitedCompanyLtd 2022-12-01 2024-03-31 14519129 bus:Director1 2022-12-01 2024-03-31 14519129 bus:Director2 2022-12-01 2024-03-31 14519129 bus:Director3 2022-12-01 2024-03-31 14519129 bus:OrdinaryShareClass1 2022-12-01 2024-03-31 iso4217:USD xbrli:pure xbrli:shares iso4217:GBP

Company No: 14519129 (England and Wales)

SCRP TRADE FINANCE LTD

Unaudited Financial Statements
For the financial period from 01 December 2022 to 31 March 2024
Pages for filing with the registrar

SCRP TRADE FINANCE LTD

Unaudited Financial Statements

For the financial period from 01 December 2022 to 31 March 2024

Contents

SCRP TRADE FINANCE LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
SCRP TRADE FINANCE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024
$
Current assets
Debtors 4 1,940,671
Cash at bank and in hand 5 518,431
2,459,102
Creditors: amounts falling due within one year 6 ( 2,455,841)
Net current assets 3,261
Total assets less current liabilities 3,261
Net assets 3,261
Capital and reserves
Called-up share capital 7 1,261
Profit and loss account 2,000
Total shareholder's funds 3,261

For the financial period ending 31 March 2024 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 SCRP TRADE FINANCE LTD (registered number: 14519129) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J A B Scott
Director

30 August 2024

SCRP TRADE FINANCE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 31 March 2024
SCRP TRADE FINANCE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

SCRP TRADE FINANCE LTD (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 Fifth Floor, Suite 23, 63/66 Hatton Garden, London, EC1N 8LE, England, 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 USD which is the functional currency of the Company and rounded to the nearest $.

Going concern

The directors have assessed the Statement of Financial Position 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.

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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings 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 goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 Statement of Financial Position date.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Ordinary share capital

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
01.12.2022 to
31.03.2024
Number
Monthly average number of persons employed by the company during the period, including directors 3

3. Dividends on equity shares

Period from
01.12.2022 to
31.03.2024
$
Amounts recognised as distributions to equity holders in the financial period:
Interim dividend for the financial year ended 31 March 2024 of $59.79 per ordinary share 59,799

4. Debtors

31.03.2024
$
Trade debtors 1,901,163
Other debtors 39,508
1,940,671

5. Cash and cash equivalents

31.03.2024
$
Cash at bank and in hand 518,431

6. Creditors: amounts falling due within one year

31.03.2024
$
Trade creditors 4,689
Amounts owed to parent undertakings 112,214
Taxation and social security 19,288
Other creditors 2,319,650
2,455,841

7. Called-up share capital

31.03.2024
$
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,261

8. Related party transactions

Transactions with owners holding a participating interest in the entity

31.03.2024
$
Amounts owed to parent undertakings (112,214)

The balance is unsecured, interest-free and repayable on demand.

9. Ultimate controlling party

Parent Company:

Shard Credit Partners Ltd
Fifth Floor, Suite 23, 63/66 Hatton Garden, London, England, EC1N 8LE