Silverfin false false 31/12/2023 01/01/2023 31/12/2023 J Goldman 08/03/2022 C Patel 28/12/2017 19 September 2024 The principal activity of Weddell Holdings Limited ("the Company") is that of a holding company. 09872153 2023-12-31 09872153 bus:Director1 2023-12-31 09872153 bus:Director2 2023-12-31 09872153 2022-12-31 09872153 core:CurrentFinancialInstruments 2023-12-31 09872153 core:CurrentFinancialInstruments 2022-12-31 09872153 core:ShareCapital 2023-12-31 09872153 core:ShareCapital 2022-12-31 09872153 core:RetainedEarningsAccumulatedLosses 2023-12-31 09872153 core:RetainedEarningsAccumulatedLosses 2022-12-31 09872153 core:CostValuation 2022-12-31 09872153 core:CostValuation 2023-12-31 09872153 bus:OrdinaryShareClass1 2023-12-31 09872153 2023-01-01 2023-12-31 09872153 bus:FilletedAccounts 2023-01-01 2023-12-31 09872153 bus:SmallEntities 2023-01-01 2023-12-31 09872153 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09872153 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09872153 bus:Director1 2023-01-01 2023-12-31 09872153 bus:Director2 2023-01-01 2023-12-31 09872153 2022-01-01 2022-12-31 09872153 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09872153 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:USD xbrli:pure xbrli:shares iso4217:GBP

Company No: 09872153 (England and Wales)

WEDDELL HOLDINGS LIMITED

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

WEDDELL HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WEDDELL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
WEDDELL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
$ $
Fixed assets
Investments 3 125,000 125,000
125,000 125,000
Creditors: amounts falling due within one year 4 ( 920,877) ( 918,280)
Net current liabilities (920,877) (918,280)
Total assets less current liabilities (795,877) (793,280)
Net liabilities ( 795,877) ( 793,280)
Capital and reserves
Called-up share capital 5 125,000 125,000
Profit and loss account ( 920,877 ) ( 918,280 )
Total shareholders' deficit ( 795,877) ( 793,280)

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 Weddell Holdings Limited (registered number: 09872153) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

C Patel
Director

19 September 2024

WEDDELL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WEDDELL 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

Weddell 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 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 USD which is the functional currency of the Company and rounded to the nearest $.

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.

The Company made a loss of $2,597 during the year and had net current liabilities of $920,877 and net liabilities $795,877.

As a result, the directors are confident that the Company's access to working capital and future profit generation will be sufficient to support the business in the foreseeable future, and accordingly, consider it appropriate to prepare the financial statements on a going concern basis.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, and loans to and from related parties.

Financial assets
Basic financial assets, including 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/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including 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.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value
cannot be reliably determined, such investments are stated at historic cost less impairment.

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 125,000
At 31 December 2023 125,000
Carrying value at 31 December 2023 125,000
Carrying value at 31 December 2022 125,000

4. Creditors: amounts falling due within one year

2023 2022
$ $
Accruals and deferred income 20,571 20,221
Other creditors 900,306 898,059
920,877 918,280

5. Called-up share capital

2023 2022
$ $
Allotted, called-up and fully-paid
99,000 Ordinary shares of £ 1.00 each 125,000 125,000

On 7 March 2022, 98,998 Ordinary shares of £1.00 each were issued at par.