Silverfin false false 31/12/2023 01/01/2023 31/12/2023 B Gower 16/12/2020 S Gower 29/07/2022 18 September 2024 The principal activity of the Company during the financial period was that of holding shares in its subsidiary undertaking Perspicuity Limited. 13084469 2023-12-31 13084469 bus:Director1 2023-12-31 13084469 bus:Director2 2023-12-31 13084469 2022-12-31 13084469 core:CurrentFinancialInstruments 2023-12-31 13084469 core:CurrentFinancialInstruments 2022-12-31 13084469 core:ShareCapital 2023-12-31 13084469 core:ShareCapital 2022-12-31 13084469 core:SharePremium 2023-12-31 13084469 core:SharePremium 2022-12-31 13084469 core:RetainedEarningsAccumulatedLosses 2023-12-31 13084469 core:RetainedEarningsAccumulatedLosses 2022-12-31 13084469 core:CostValuation 2022-12-31 13084469 core:CostValuation 2023-12-31 13084469 2023-01-01 2023-12-31 13084469 bus:FilletedAccounts 2023-01-01 2023-12-31 13084469 bus:SmallEntities 2023-01-01 2023-12-31 13084469 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13084469 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13084469 bus:Director1 2023-01-01 2023-12-31 13084469 bus:Director2 2023-01-01 2023-12-31 13084469 2022-01-01 2022-12-31 13084469 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 13084469 (England and Wales)

PERSPICUITY HOLDINGS LIMITED

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

PERSPICUITY HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

PERSPICUITY HOLDINGS LIMITED

BALANCE SHEET

As at 31 December 2023
PERSPICUITY HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 881,980 881,980
881,980 881,980
Creditors: amounts falling due within one year 4 ( 712,903) ( 780,250)
Net current liabilities (712,903) (780,250)
Total assets less current liabilities 169,077 101,730
Net assets 169,077 101,730
Capital and reserves
Called-up share capital 8,042 8,042
Share premium account 62,091 62,091
Profit and loss account 98,944 31,597
Total shareholders' funds 169,077 101,730

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 Perspicuity Holdings Limited (registered number: 13084469) were approved and authorised for issue by the Board of Directors on 18 September 2024. They were signed on its behalf by:

B Gower
Director
S Gower
Director
PERSPICUITY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
PERSPICUITY HOLDINGS 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

Perspicuity Holdings 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 Mansion House 54-58 Princes Street, Yeovil, BA20 1EP, England, United Kingdom. The principal place of business is Yeovil Innovation Centre, Barracks Close, Copse Road, Yeovil, Somerset, BA22 8RN.

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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2. Employees

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

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 881,980
At 31 December 2023 881,980
Carrying value at 31 December 2023 881,980
Carrying value at 31 December 2022 881,980

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 710,022 777,550
Other creditors 2,881 2,700
712,903 780,250

The Amounts owed to Group undertakings are secured by way of fixed and floating charges over all the assets and undertakings of the company.