Silverfin false false 31/03/2024 01/04/2023 31/03/2024 J A Benedicto Scott 30/09/2021 A Brown 15/09/2021 G Lomas 15/09/2021 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 venture debt fund providing alternative finance to technology companies in the UK. 13623894 2024-03-31 13623894 bus:Director1 2024-03-31 13623894 bus:Director2 2024-03-31 13623894 bus:Director3 2024-03-31 13623894 2023-03-31 13623894 core:CurrentFinancialInstruments 2024-03-31 13623894 core:CurrentFinancialInstruments 2023-03-31 13623894 core:ShareCapital 2024-03-31 13623894 core:ShareCapital 2023-03-31 13623894 core:RetainedEarningsAccumulatedLosses 2024-03-31 13623894 core:RetainedEarningsAccumulatedLosses 2023-03-31 13623894 core:CostValuation 2023-03-31 13623894 core:CostValuation 2024-03-31 13623894 core:ProvisionsForImpairmentInvestments 2023-03-31 13623894 core:ProvisionsForImpairmentInvestments 2024-03-31 13623894 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-03-31 13623894 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-03-31 13623894 bus:OrdinaryShareClass1 2024-03-31 13623894 2023-04-01 2024-03-31 13623894 bus:FilletedAccounts 2023-04-01 2024-03-31 13623894 bus:SmallEntities 2023-04-01 2024-03-31 13623894 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13623894 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13623894 bus:Director1 2023-04-01 2024-03-31 13623894 bus:Director2 2023-04-01 2024-03-31 13623894 bus:Director3 2023-04-01 2024-03-31 13623894 2022-04-01 2023-03-31 13623894 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13623894 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13623894 (England and Wales)

SHARD CREDIT HOLDINGS LIMITED

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

SHARD CREDIT HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SHARD CREDIT HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
SHARD CREDIT HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 75,000 75,000
75,000 75,000
Current assets
Debtors 4 132,847 248,725
Cash at bank and in hand 5 284,114 149,229
416,961 397,954
Creditors: amounts falling due within one year 6 ( 330,818) ( 618,438)
Net current assets/(liabilities) 86,143 (220,484)
Total assets less current liabilities 161,143 (145,484)
Net assets/(liabilities) 161,143 ( 145,484)
Capital and reserves
Called-up share capital 7 9 10
Profit and loss account 161,134 ( 145,494 )
Total shareholders' funds/(deficit) 161,143 ( 145,484)

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 Holdings Limited (registered number: 13623894) 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 HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SHARD CREDIT HOLDINGS LIMITED

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 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 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

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 liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 April 2023 75,000 75,000
At 31 March 2024 75,000 75,000
Provisions for impairment
At 01 April 2023 0 0
At 31 March 2024 0 0
Carrying value at 31 March 2024 75,000 75,000
Carrying value at 31 March 2023 75,000 75,000

4. Debtors

2024 2023
£ £
Trade debtors 4,405 0
Amounts owed by connected companies 12,691 200,579
Other debtors 115,751 48,146
132,847 248,725

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 284,114 149,229

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 32,652 361,899
Amounts owed to Group undertakings 198,579 192,522
Corporation tax 60,120 0
Other creditors 39,467 64,017
330,818 618,438

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
900 Ordinary shares of £ 0.01 each (2023: 1,000 shares of £ 0.01 each) 9 10

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed by connected companies 12,691 200,579
Amount owed to group companies (198,579) (192,522)

Included within debtors due within one year is an amount of £12,691 (2023: £200,579) owed by a company under common control. The balance is interest free, unsecured and repayable upon demand.

Included within creditors due within one year is an amount of £198,579 (2023: £192,522) due to LLP's of which the company is a designated member. The balance is interest free, unsecured and repayable upon demand.