Silverfin false false 31/12/2023 01/01/2023 31/12/2023 M E Ishai 27/09/2019 R Shahor 27/09/2019 11 October 2024 The principal activity of the Company is that of providing cyber security services. 12230275 2023-12-31 12230275 bus:Director1 2023-12-31 12230275 bus:Director2 2023-12-31 12230275 2022-12-31 12230275 core:CurrentFinancialInstruments 2023-12-31 12230275 core:CurrentFinancialInstruments 2022-12-31 12230275 core:ShareCapital 2023-12-31 12230275 core:ShareCapital 2022-12-31 12230275 core:RetainedEarningsAccumulatedLosses 2023-12-31 12230275 core:RetainedEarningsAccumulatedLosses 2022-12-31 12230275 core:OtherPropertyPlantEquipment 2022-12-31 12230275 core:OtherPropertyPlantEquipment 2023-12-31 12230275 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 12230275 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 12230275 bus:OrdinaryShareClass1 2023-12-31 12230275 2023-01-01 2023-12-31 12230275 bus:FilletedAccounts 2023-01-01 2023-12-31 12230275 bus:SmallEntities 2023-01-01 2023-12-31 12230275 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12230275 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12230275 bus:Director1 2023-01-01 2023-12-31 12230275 bus:Director2 2023-01-01 2023-12-31 12230275 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 12230275 2022-01-01 2022-12-31 12230275 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12230275 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12230275 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12230275 (England and Wales)

HOLISTICYBER UK LTD

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

HOLISTICYBER UK LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

HOLISTICYBER UK LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
HOLISTICYBER UK LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 235 494
235 494
Current assets
Debtors 4 251,905 259,218
Cash at bank and in hand 12,616 11,482
264,521 270,700
Creditors: amounts falling due within one year 5 ( 273,380) ( 278,866)
Net current liabilities (8,859) (8,166)
Total assets less current liabilities (8,624) (7,672)
Net liabilities ( 8,624) ( 7,672)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 8,724 ) ( 7,772 )
Total shareholder's deficit ( 8,624) ( 7,672)

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 HolistiCyber UK Ltd (registered number: 12230275) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M E Ishai
Director

11 October 2024

HOLISTICYBER UK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
HOLISTICYBER UK LTD

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

Holisticyber UK Ltd (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 pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and 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

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Taxation

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and 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 trade and 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 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.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 5

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 1,564 1,564
At 31 December 2023 1,564 1,564
Accumulated depreciation
At 01 January 2023 1,070 1,070
Charge for the financial year 259 259
At 31 December 2023 1,329 1,329
Net book value
At 31 December 2023 235 235
At 31 December 2022 494 494

4. Debtors

2023 2022
£ £
Trade debtors 136,406 230,470
Amounts owed by group undertakings 112,246 0
Other debtors 3,253 28,748
251,905 259,218

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 367 735
Amounts owed to parent undertakings 0 44,367
Other taxation and social security 66,738 30,345
Other creditors 206,275 203,419
273,380 278,866

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

8. Ultimate controlling party

Parent Company:

HolistiCyber Limited
3 Hanehoshe Street, Tel Aviv, Israel