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Company No: 12360409 (England and Wales)

VERITAS REALES INVESTMENT LIMITED

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

VERITAS REALES INVESTMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

VERITAS REALES INVESTMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
VERITAS REALES INVESTMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Debtors
- due after more than one year 3 8,560,901 8,531,943
8,560,901 8,531,943
Creditors: amounts falling due within one year 4 ( 7,048) ( 5,398)
Net current assets 8,553,853 8,526,545
Total assets less current liabilities 8,553,853 8,526,545
Creditors: amounts falling due after more than one year 5 ( 8,560,901) ( 8,531,943)
Net liabilities ( 7,048) ( 5,398)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 7,050 ) ( 5,400 )
Total shareholder's deficit ( 7,048) ( 5,398)

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.

Director's responsibilities:

The financial statements of Veritas Reales Investment Limited (registered number: 12360409) were approved and authorised for issue by the Director. They were signed on its behalf by:

M Mashali
Director

16 September 2024

VERITAS REALES INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
VERITAS REALES INVESTMENT 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

Veritas Reales Investment 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 35 Ballards Lane, London, N3 1XW, 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 director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has 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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the Statement of Income and Retained Earnings.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Debtors

2023 2022
£ £
Debtors: amounts falling due after more than one year
Amounts owed by own subsidiaries 8,560,901 8,531,943

Interest of 2.5% per annum is being charged on the amounts owed by the subsidiary company.

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to parent undertakings 5,398 3,598
Accruals 1,650 1,800
7,048 5,398

5. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to parent undertakings 8,560,901 8,531,943

Interest of 2.5% per annum is being charged on the amounts owed to the parent company.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2