Silverfin false false 30/11/2023 01/12/2022 30/11/2023 J A N Prenn 03/11/2015 25 November 2024 The principal activity of the company is holding investments and issuing loans to subsidiares. 09855159 2023-11-30 09855159 bus:Director1 2023-11-30 09855159 2022-11-30 09855159 core:CurrentFinancialInstruments 2023-11-30 09855159 core:CurrentFinancialInstruments 2022-11-30 09855159 core:ShareCapital 2023-11-30 09855159 core:ShareCapital 2022-11-30 09855159 core:RetainedEarningsAccumulatedLosses 2023-11-30 09855159 core:RetainedEarningsAccumulatedLosses 2022-11-30 09855159 2022-12-01 2023-11-30 09855159 bus:FilletedAccounts 2022-12-01 2023-11-30 09855159 bus:SmallEntities 2022-12-01 2023-11-30 09855159 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 09855159 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09855159 bus:Director1 2022-12-01 2023-11-30 09855159 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Company No: 09855159 (England and Wales)

FLIMSDID LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

FLIMSDID LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

FLIMSDID LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
FLIMSDID LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTOR J A N Prenn
REGISTERED OFFICE Unit 3 Crewkerne Business Park
Cropmead
Crewkerne
Somerset
TA18 7HJ
United Kingdom
COMPANY NUMBER 09855159 (England and Wales)
ACCOUNTANT Evelyn Partners LLP
Portwall Place
Portwall Lane
Bristol
BS1 6NA
FLIMSDID LIMITED

BALANCE SHEET

As at 30 November 2023
FLIMSDID LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Investments 4 260,683 260,683
260,683 260,683
Current assets
Debtors 5 5,754,396 5,493,995
Cash at bank and in hand 38,381 298,508
5,792,777 5,792,503
Creditors: amounts falling due within one year 6 ( 6,064,905) ( 6,057,815)
Net current liabilities (272,128) (265,312)
Total assets less current liabilities (11,445) (4,629)
Net liabilities ( 11,445) ( 4,629)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 11,545 ) ( 4,729 )
Total shareholder's deficit ( 11,445) ( 4,629)

For the financial year ending 30 November 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 Flimsdid Limited (registered number: 09855159) were approved and authorised for issue by the Director on 25 November 2024. They were signed on its behalf by:

J A N Prenn
Director
FLIMSDID LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
FLIMSDID LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

Flimsdid 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 Unit 3 Crewkerne Business Park, Cropmead, Crewkerne, Somerset, TA18 7HJ, United Kingdom.

The financial statements have been prepared in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Flimsdid Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The Company is reliant on the support of its director. The director has given their assurance to continue to support the company and the accounts have been prepared on this basis.

Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Trade and other debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at
amortised cost using the effective interest method, less any impairment.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 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.

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2. Prior year adjustment

During the preparation of the financial statements it was identified that other debtors at 30 November 2022 had been understated by £99,970 and amounts owed to directors had been understated by the same amount. A prior year adjustment has been made in these financial statements to correct the position. The adjustment has no resultant change to the loss for the year ended 30 November 2022 or the value of net assets at that date.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year 0 0

4. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 260,683 200,687
Other investments and loans 0 59,996
260,683 260,683

5. Debtors

2023 2022
£ £
Other debtors 5,754,396 5,493,995

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 6,057,816 6,057,415
Accruals 6,689 0
Other creditors 400 400
6,064,905 6,057,815

7. Related party transactions

At 30 November 2023, the Company owed £6,057,816 (2022 - £6,057,415) to its director. This amount is interest free and repayable on demand.

At 30 November 2023, the Company owed £400 (2022 - £400) to a company under common control. The loan has no interest and is repayable on demand.

During prior periods, the Company provided loan notes to a subsidiary to the value of £6,869,312 now repayable by 31 March 2025. During the year the company was repaid £Nil of the loan notes (2022 - £618,300). The amount outstanding at the year end was £3,674,763 (2022 - £3,674,763). The loan notes are interest free and are classified as financial arrangements in accordance with section 11 of FRS 102. The loan notes are now considered to be repayable on demand, so no further interest will be charged.