Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Anthony Richard Betteridge 01/12/2023 Marisa Jane Betteridge 20/08/2024 Denise Ann Newlyn 20/08/2024 07/08/2023 23 September 2024 The principal activity of the Company during the financial year was that of a Holding Company. 01138937 2023-12-31 01138937 bus:Director1 2023-12-31 01138937 bus:Director2 2023-12-31 01138937 bus:Director3 2023-12-31 01138937 2022-12-31 01138937 core:CurrentFinancialInstruments 2023-12-31 01138937 core:CurrentFinancialInstruments 2022-12-31 01138937 core:Non-currentFinancialInstruments 2023-12-31 01138937 core:Non-currentFinancialInstruments 2022-12-31 01138937 core:ShareCapital 2023-12-31 01138937 core:ShareCapital 2022-12-31 01138937 core:RetainedEarningsAccumulatedLosses 2023-12-31 01138937 core:RetainedEarningsAccumulatedLosses 2022-12-31 01138937 core:PlantMachinery 2022-12-31 01138937 core:FurnitureFittings 2022-12-31 01138937 core:PlantMachinery 2023-12-31 01138937 core:FurnitureFittings 2023-12-31 01138937 core:CostValuation 2022-12-31 01138937 core:CostValuation 2023-12-31 01138937 bus:OrdinaryShareClass1 2023-12-31 01138937 2023-01-01 2023-12-31 01138937 bus:FilletedAccounts 2023-01-01 2023-12-31 01138937 bus:SmallEntities 2023-01-01 2023-12-31 01138937 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01138937 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01138937 bus:Director1 2023-01-01 2023-12-31 01138937 bus:Director2 2023-01-01 2023-12-31 01138937 bus:Director3 2023-01-01 2023-12-31 01138937 core:PlantMachinery 2023-01-01 2023-12-31 01138937 core:FurnitureFittings 2023-01-01 2023-12-31 01138937 2022-01-01 2022-12-31 01138937 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 01138937 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01138937 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01138937 (England and Wales)

A.R. BETTERIDGE LIMITED

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

A.R. BETTERIDGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

A.R. BETTERIDGE LIMITED

BALANCE SHEET

As at 31 December 2023
A.R. BETTERIDGE LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 3,293 4,324
Investments 5 100,000 100,000
103,293 104,324
Current assets
Debtors 6 4,676,603 4,450,268
Cash at bank and in hand 374,405 117,346
5,051,008 4,567,614
Creditors: amounts falling due within one year 7 ( 615,889) ( 162,884)
Net current assets 4,435,119 4,404,730
Total assets less current liabilities 4,538,412 4,509,054
Creditors: amounts falling due after more than one year 8 ( 4,500,000) 0
Net assets 38,412 4,509,054
Capital and reserves
Called-up share capital 9 3,000 3,000
Profit and loss account 35,412 4,506,054
Total shareholder's funds 38,412 4,509,054

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 A.R. Betteridge Limited (registered number: 01138937) were approved and authorised for issue by the Director on 23 September 2024. They were signed on its behalf by:

Marisa Jane Betteridge
Director
A.R. BETTERIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
A.R. BETTERIDGE 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

A.R. Betteridge 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 Nexus House, 2 Cray Road, Sidcup, DA14 5DA, 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

After reviewing the company's forecasts and projections, the director have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax. The proceeds of property developments are recognised on legal completion. The company recognises revenue when:

- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Plant and machinery 20 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. 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 are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the asset have been affected.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

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

4. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 January 2023 5,123 11,832 16,955
At 31 December 2023 5,123 11,832 16,955
Accumulated depreciation
At 01 January 2023 4,097 8,534 12,631
Charge for the financial year 206 825 1,031
At 31 December 2023 4,303 9,359 13,662
Net book value
At 31 December 2023 820 2,473 3,293
At 31 December 2022 1,026 3,298 4,324

5. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 100,000 100,000

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 100,000
At 31 December 2023 100,000
Carrying value at 31 December 2023 100,000
Carrying value at 31 December 2022 100,000

6. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 4,676,603 4,450,128
Other debtors 0 140
4,676,603 4,450,268

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 623 620
Corporation tax 41,558 34,543
Other taxation and social security 177 0
Other creditors 573,531 127,721
615,889 162,884

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

2023 2022
£ £
Other creditors 4,500,000 0

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
3,000 Ordinary shares of £ 1.00 each 3,000 3,000

10. Related party transactions

Other related party transactions

2023 2022
£ £
Shareholder loan 5,030,000 84,879
Other related parties 87,246 37,246

Loans from related parties have been provided without security and are interest free.