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Company No: 12153387 (England and Wales)

CALVER SCOTT LIMITED

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

CALVER SCOTT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CALVER SCOTT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
CALVER SCOTT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1 1
1 1
Current assets
Debtors 4 502,000 477,200
Cash at bank and in hand 261 19
502,261 477,219
Creditors: amounts falling due within one year 5 ( 501,560) ( 476,595)
Net current assets 701 624
Total assets less current liabilities 702 625
Net assets 702 625
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 701 624
Total shareholder's funds 702 625

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Calver Scott Limited (registered number: 12153387) were approved and authorised for issue by the Director on 14 February 2025. They were signed on its behalf by:

J Townsend
Director
CALVER SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CALVER SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Calver Scott 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 C/O Kontor, 33 Gresse Street, London, W1T 1QU, 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 director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net assets of £702. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 1
At 31 December 2024 1
Carrying value at 31 December 2024 1
Carrying value at 31 December 2023 1

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2024
Ownership
31.12.2023
Townsend Racing Limited C/O Kontor, 33 Gresse Street, London, United Kingdom, W1T 1QU Motor Racing Ordinary 100.00% 100.00%
Wellness House Ltd Until-Ilona Rose House, 111-119 Charing Cross Road, Ground/Lower Ground Floor, London, United Kingdom, WC2H 0DU Fitness Facility Ordinary 2.00% 2.00%

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 502,000 477,200

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 500,000 475,035
Accruals 1,560 1,560
501,560 476,595

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed to a director 500,000 475,035

This loan is interest free with no fixed date for repayment.

The Company has taken advantage of the exemption available under FRS 102 section 1.A.C 35 to not disclose transactions within a wholly owned group.