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Company No: SC403991 (Scotland)

WILDWOOD CAPITAL UK

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

WILDWOOD CAPITAL UK

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

WILDWOOD CAPITAL UK

BALANCE SHEET

AS AT 31 DECEMBER 2023
WILDWOOD CAPITAL UK

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 12,455,717 21,128,727
12,455,717 21,128,727
Current assets
Debtors 4 5,054,279 3,803,280
Cash at bank and in hand 419,206 0
5,473,485 3,803,280
Creditors: amounts falling due within one year 5 ( 2,271,076) ( 3,130,548)
Net current assets 3,202,409 672,732
Total assets less current liabilities 15,658,126 21,801,459
Provision for liabilities ( 964,650) ( 296,861)
Net assets 14,693,476 21,504,598
Capital and reserves
Called-up share capital 6 4,005,141 4,005,141
Share premium account 6,983,536 6,983,536
Profit and loss account 3,704,799 10,515,921
Total shareholders' funds 14,693,476 21,504,598

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 Wildwood Capital UK (registered number: SC403991) were approved and authorised for issue by the Board of Directors on 23 September 2024. They were signed on its behalf by:

Patrick R Gammell
Director
WILDWOOD CAPITAL UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
WILDWOOD CAPITAL UK

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

Wildwood Capital UK (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O TURCAN CONNELL, Princes Exchange 1 Earl Grey Street, Edinburgh, EH3 9EE, 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 £.

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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents income generated from fees for managing investments.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account. No impairments were noted in the year.

Fixed asset investments

Listed investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Unlisted investments and investments in subsidiaries are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

2. Employees

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

3. Fixed asset investments

Investments in subsidiaries

2023
£
Transfer to investment in subsidiaries 6,570,395
At 31 December 2023 6,570,395
Carrying value at 31 December 2023 6,570,395
Carrying value at 31 December 2022 0

Investments in subsidiaries are held at cost less impairment because their fair value cannot be measured reliably.

Listed investments Investments in associates Other investments Total
£ £ £ £
Cost or valuation before impairment
At 01 January 2023 1,491,622 0 19,637,105 21,128,727
Additions 0 0 100,000 100,000
Disposals 0 0 ( 11,516,711) ( 11,516,711)
Movement in fair value 2,743,700 0 0 2,743,700
Transfer to investment in subsidiaries and associates 0 1,650,000 ( 8,220,394) ( 6,570,394)
At 31 December 2023 4,235,322 1,650,000 0 5,885,322
Carrying value at 31 December 2023 4,235,322 1,650,000 0 5,885,322
Carrying value at 31 December 2022 1,491,622 0 19,637,105 21,128,727

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £304,180. Investments in associates are held at cost less impairment because their fair value cannot be measured reliably.

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 4,700,000 0
Amounts owed by related parties 284,279 0
Other debtors 70,000 3,803,280
5,054,279 3,803,280

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,496 0
Taxation and social security 0 55,162
Other creditors 2,268,580 3,075,386
2,271,076 3,130,548

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
4,005,141 Ordinary shares of £ 1.00 each 4,005,141 4,005,141

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Amounts owed by group companies 4,700,000 0

The above loan is repayable on demand and does not bear interest.