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Registered number: 12227724









EVERFI INTERNATIONAL LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
EVERFI INTERNATIONAL LIMITED
REGISTERED NUMBER: 12227724

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 3 
1
5,095,000

  
1
5,095,000

Current assets
  

Debtors: amounts falling due within one year
 4 
100
100

Cash at bank and in hand
 5 
449
-

  
549
100

Creditors: amounts falling due within one year
 6 
(25,530)
(25,030)

Net current liabilities
  
 
 
(24,981)
 
 
(24,930)

Total assets less current liabilities
  
(24,980)
5,070,070

Creditors: amounts falling due after more than one year
 7 
(4,459,444)
(4,180,783)

  

Net (liabilities)/assets
  
(4,484,424)
889,287


Capital and reserves
  

Called up share capital 
 8 
2,000,100
2,000,100

Profit and loss account
  
(6,484,524)
(1,110,813)

  
(4,484,424)
889,287


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2024.




Anthony William Boor
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 1

 
EVERFI INTERNATIONAL LIMITED
REGISTERED NUMBER: 12227724
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 
EVERFI INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

  
1.1

Company information

Everfi International Limited is a private company limited by shares incorporated in England and Wales. The registered office is Studio 1.19 Canterbury Court, 1-3 Brixton Road, London, SW 9 6DE.

 
1.2

Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include therevaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements , including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group.

 
1.3

Going concern

The major part of company's working capital requirements are provided by a loan from EverFi Inc, a related company which is repayable on demand. The directors of EverFi Inc have indicated that this support will continue to be provided for the forseable future and that they will not demend repayment however no formal agreement is in place. The director, having considered the above and made due enquiries, continues to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.

 
1.4

Fixed asset investments

Interests in subsidiaries and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognized immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Page 3

 
EVERFI INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is 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




The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

Page 4

 
EVERFI INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
5,095,000



At 31 December 2023

5,095,000



Impairment


Charge for the period
5,094,999



At 31 December 2023

5,094,999



Net book value



At 31 December 2023
1



At 31 December 2022
5,095,000


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
100
100



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
449
-

449
-


Page 5

 
EVERFI INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
25,530
25,030



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
4,459,444
4,180,783



8.


Called up share capital

2023
2022
£
£
Ordinary share capital



2,000,100 (2022 - 2,000,100) Ordinary share capital shares of £1 each
2,000,100
2,000,100



9.


Related party transactions

The company has applied exemptions available in s33.1A of FRS102 not to disclose transactions with wholly owned group undertakings.


10.


Controlling party

The ultimate parent company is Blackbaud Inc. who owns 100% share capital of EverFi International Ltd. The financial statements for Blackbaud Inc., can be found at https://investor.blackbaud .com/financial -information/annual -reports.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 9 October 2024 by Chris Checkley (Senior Statutory Auditor) on behalf of TC Group.

Page 6