Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Gerald Albert Beeson 02/09/2019 19 September 2024 The Company did not trade during the year and the only costs incurred during the year were administrative costs of the business. 12184049 2023-12-31 12184049 bus:Director1 2023-12-31 12184049 2022-12-31 12184049 core:CurrentFinancialInstruments 2023-12-31 12184049 core:CurrentFinancialInstruments 2022-12-31 12184049 core:ShareCapital 2023-12-31 12184049 core:ShareCapital 2022-12-31 12184049 core:RetainedEarningsAccumulatedLosses 2023-12-31 12184049 core:RetainedEarningsAccumulatedLosses 2022-12-31 12184049 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 12184049 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-12-31 12184049 2023-01-01 2023-12-31 12184049 bus:FilletedAccounts 2023-01-01 2023-12-31 12184049 bus:SmallEntities 2023-01-01 2023-12-31 12184049 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12184049 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12184049 bus:Director1 2023-01-01 2023-12-31 12184049 2022-01-01 2022-12-31 12184049 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 12184049 (England and Wales)

GFS II LIMITED

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

GFS II LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

GFS II LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
GFS II LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Gerald Albert Beeson
REGISTERED OFFICE 120 London Wall
London
EC2Y 5ET
United Kingdom
COMPANY NUMBER 12184049 (England and Wales)
GFS II LIMITED

BALANCE SHEET

As at 31 December 2023
GFS II LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Cash at bank and in hand 159,059 119,629
159,059 119,629
Creditors: amounts falling due within one year 3 ( 171,238) ( 128,628)
Net current liabilities (12,179) (8,999)
Total assets less current liabilities (12,179) (8,999)
Net liabilities ( 12,179) ( 8,999)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 12,180 ) ( 9,000 )
Total shareholder's deficit ( 12,179) ( 8,999)

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 GFS II Limited (registered number: 12184049) were approved and authorised for issue by the Director on 19 September 2024. They were signed on its behalf by:

Gerald Albert Beeson
Director
GFS II LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
GFS II 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

GFS II 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 120 London Wall, London, EC2Y 5ET, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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.

The functional currency of GFS II Limited is considered to be pounds sterling.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company does not trade and has minimal administrative costs. Furthermore, the Company has ongoing financial support from a related party which is expected to continue for at least 12 months from the date of signing these financial statements. Based on this, the director has a reasonable expectation that the Company has adequate resources to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including director 3 3

3. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to related parties 168,058 125,628
Accruals 3,180 3,000
171,238 128,628

4. Related party transactions

The total aggregate directors remuneration for the year was £nil (2022: £nil).

The Company has taken advantage of the exemption available under FRS 102 section 1A not to disclose details of transactions with its parent entity, which wholly owns the Company.

5. Ultimate controlling party

The Company is wholly owned by Griffin Family Services II LLC, which is based in USA.