Silverfin false false 31/03/2024 01/04/2023 31/03/2024 J A Benedicto Scott 15/05/2015 A I Brown 15/05/2015 J W E Lewis 15/05/2024 15/05/2015 G C H Lomas 15/05/2015 T J D Raincock 15/05/2015 02 December 2024 The principal activity of the Company during the financial year was to provide investment advice to a fund manager in respect of a direct lending fund providing alternative finance to SMEs in the UK. 09594110 2024-03-31 09594110 bus:Director1 2024-03-31 09594110 bus:Director2 2024-03-31 09594110 bus:Director3 2024-03-31 09594110 bus:Director4 2024-03-31 09594110 bus:Director5 2024-03-31 09594110 core:CurrentFinancialInstruments 2024-03-31 09594110 core:CurrentFinancialInstruments 2023-03-31 09594110 2023-03-31 09594110 core:ShareCapital 2024-03-31 09594110 core:ShareCapital 2023-03-31 09594110 core:RetainedEarningsAccumulatedLosses 2024-03-31 09594110 core:RetainedEarningsAccumulatedLosses 2023-03-31 09594110 core:UnlistedNon-exchangeTraded core:WithinOneYear 2024-03-31 09594110 core:UnlistedNon-exchangeTraded core:WithinOneYear 2023-03-31 09594110 bus:OrdinaryShareClass1 2024-03-31 09594110 2023-04-01 2024-03-31 09594110 bus:FilletedAccounts 2023-04-01 2024-03-31 09594110 bus:SmallEntities 2023-04-01 2024-03-31 09594110 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09594110 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09594110 bus:Director1 2023-04-01 2024-03-31 09594110 bus:Director2 2023-04-01 2024-03-31 09594110 bus:Director3 2023-04-01 2024-03-31 09594110 bus:Director4 2023-04-01 2024-03-31 09594110 bus:Director5 2023-04-01 2024-03-31 09594110 2022-04-01 2023-03-31 09594110 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09594110 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09594110 (England and Wales)

SHARD CREDIT PARTNERS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SHARD CREDIT PARTNERS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SHARD CREDIT PARTNERS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
SHARD CREDIT PARTNERS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Current assets
Debtors 3 609,306 616,632
Investments 4 60,961 60,961
Cash at bank and in hand 5 303,660 241,410
973,927 919,003
Creditors: amounts falling due within one year 6 ( 1,308,109) ( 1,300,694)
Net current liabilities (334,182) (381,691)
Total assets less current liabilities (334,182) (381,691)
Net liabilities ( 334,182) ( 381,691)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 334,282 ) ( 381,791 )
Total shareholders' deficit ( 334,182) ( 381,691)

For the financial year ending 31 March 2024 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 Shard Credit Partners Ltd (registered number: 09594110) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J A Benedicto Scott
Director

02 December 2024

SHARD CREDIT PARTNERS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SHARD CREDIT PARTNERS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Shard Credit Partners 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 Fifth Floor, Suite 23, 63/66 Hatton Garden, London, EC1N 8LE, 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

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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 6 7

3. Debtors

2024 2023
£ £
Trade debtors 106,394 372,579
Amounts owed by group undertakings 502,812 243,953
Other debtors 100 100
609,306 616,632

4. Current asset investments

2024 2023
£ £
Other investments – at cost less impairment 60,691 60,691

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 303,660 241,410

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,143,220 1,008,349
Amounts owed to group undertakings 12,691 200,579
Taxation and social security 131,197 50,877
Other creditors 21,001 40,889
1,308,109 1,300,694

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed by/(to) the corporate shareholder (12,691) (200,579)
Amounts owed by/(to) connected companies 609,206 243,953

The balances are unsecured, interest-free and repayable upon demand.