Silverfin false true 31/12/2023 01/01/2023 31/12/2023 Stephen Thomas Mason 08/03/2018 Brian Christopher Slingerland 08/03/2018 S T Mason 26 September 2024 The Company has been defined as dormant in section 1169 of the Companies Act 2006 throughout the current year. It is anticipated that the Company will remain dormant for the foreseeable future. 11243490 2023-12-31 11243490 bus:Director1 2023-12-31 11243490 bus:Director2 2023-12-31 11243490 core:CurrentFinancialInstruments 2023-12-31 11243490 core:CurrentFinancialInstruments 2022-12-31 11243490 2022-12-31 11243490 core:ShareCapital 2023-12-31 11243490 core:ShareCapital 2022-12-31 11243490 core:RetainedEarningsAccumulatedLosses 2023-12-31 11243490 core:RetainedEarningsAccumulatedLosses 2022-12-31 11243490 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 11243490 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 11243490 2023-01-01 2023-12-31 11243490 bus:FilletedAccounts 2023-01-01 2023-12-31 11243490 bus:SmallEntities 2023-01-01 2023-12-31 11243490 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11243490 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11243490 bus:Director1 2023-01-01 2023-12-31 11243490 bus:Director2 2023-01-01 2023-12-31 11243490 bus:Director3 2023-01-01 2023-12-31 11243490 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 11243490 (England and Wales)

EVD UK HOLDINGS LIMITED

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

EVD UK HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

EVD UK HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
EVD UK HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Stephen Thomas Mason
Brian Christopher Slingerland
SECRETARY Cripps Secretaries Limited
REGISTERED OFFICE Number 22 Mount Ephraim
Tunbridge Wells
Kent
TN4 8AS
England
United Kingdom
COMPANY NUMBER 11243490 (England and Wales)
EVD UK HOLDINGS LIMITED

BALANCE SHEET

As at 31 December 2023
EVD UK HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Debtors 3 100 100
Cash at bank and in hand 72,699 72,699
72,799 72,799
Creditors: amounts falling due within one year 4 ( 6,259,233) ( 6,259,233)
Net current liabilities (6,186,434) (6,186,434)
Total assets less current liabilities (6,186,434) (6,186,434)
Net liabilities ( 6,186,434) ( 6,186,434)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 6,186,534 ) ( 6,186,534 )
Total shareholder's deficit ( 6,186,434) ( 6,186,434)

EVD UK Holdings Limited (registered number: 11243490) did not trade during the current financial year and has made neither profit nor loss, nor any other comprehensive income. There have been no movements in shareholders’ funds during the current financial year and therefore no Statement of Changes of Equity has been included. For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The financial statements of EVD UK Holdings Limited (registered number: 11243490) were approved and authorised for issue by the Board of Directors on 26 September 2024. They were signed on its behalf by:

S T Mason
Director
EVD UK HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
EVD UK 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

EVD UK 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 Number 22 Mount Ephraim, Tunbridge Wells, Kent, TN4 8AS, England, 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

Whilst the directors note that the Company has net liabilities, the Company is reliant on debt funding from their parent company Everest Detection Inc. The directors have received assurances from the parent company that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and that the parent company has financial resources available to do so. Based on this, the directors believe 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, they continue to adopt the going concern basis in preparing the financial statements.

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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 as described below.

Financial 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 as described below.

An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

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.

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. 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.

2. Employees

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

3. Debtors

2023 2022
£ £
Other debtors 100 100

Included in other debtors above is unpaid share capital of £100 (2022: £100).

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Parent undertakings 6,259,233 6,259,233

5. Related party transactions

Total aggregate directors' remunerations for the year was £nil (2022: £nil).

In accordance with FRS102 Section 33, the Company has not disclosed any related party transactions between this Company and its parent Company due to this Company being a wholly-owned subsidiary.

6. Ultimate controlling party

The immediate and ultimate parent company is Everest Detection Inc, a company incorporated in USA and registered at be 3444 Main Hwy, 2nd Floor, Miami, FL 33133 USA. Everest Detection Inc is the parent of the smallest and largest group for which consolidated financial statements are drawn up, including the results of this Company.