Silverfin false false 31/05/2024 01/06/2023 31/05/2024 M Curtis 15/09/2021 S Jumani 19/05/2020 26 February 2025 The principal activity of the company continued to be that of information technology services. 12611951 2024-05-31 12611951 bus:Director1 2024-05-31 12611951 bus:Director2 2024-05-31 12611951 core:CurrentFinancialInstruments 2024-05-31 12611951 core:CurrentFinancialInstruments 2023-05-31 12611951 2023-05-31 12611951 core:ShareCapital 2024-05-31 12611951 core:ShareCapital 2023-05-31 12611951 core:RetainedEarningsAccumulatedLosses 2024-05-31 12611951 core:RetainedEarningsAccumulatedLosses 2023-05-31 12611951 bus:OrdinaryShareClass1 2024-05-31 12611951 2023-06-01 2024-05-31 12611951 bus:FilletedAccounts 2023-06-01 2024-05-31 12611951 bus:SmallEntities 2023-06-01 2024-05-31 12611951 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12611951 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12611951 bus:Director1 2023-06-01 2024-05-31 12611951 bus:Director2 2023-06-01 2024-05-31 12611951 2022-06-01 2023-05-31 12611951 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 12611951 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 12611951 1 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12611951 (England and Wales)

PALAVER LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

PALAVER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

PALAVER LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PALAVER LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
DIRECTORS M Curtis
S Jumani
REGISTERED OFFICE 30 Woodsford Square
London
W14 8DP
United Kingdom
COMPANY NUMBER 12611951 (England and Wales)
ACCOUNTANT Alliotts LLP
Manfield House
1 Southampton Street
London
WC2R 0LR
PALAVER LIMITED

BALANCE SHEET

AS AT 31 MAY 2024
PALAVER LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Current assets
Debtors 3 3,883 11,806
Cash at bank and in hand 4 250 488
4,133 12,294
Creditors: amounts falling due within one year 5 ( 1,751,088) ( 1,749,481)
Net current liabilities (1,746,955) (1,737,187)
Total assets less current liabilities (1,746,955) (1,737,187)
Net liabilities ( 1,746,955) ( 1,737,187)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 1,747,055 ) ( 1,737,287 )
Total shareholders' deficit ( 1,746,955) ( 1,737,187)

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Palaver Limited (registered number: 12611951) were approved and authorised for issue by the Board of Directors on 26 February 2025. They were signed on its behalf by:

S Jumani
Director
PALAVER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PALAVER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 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

Palaver 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 30 Woodsford Square, London, W14 8DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 Balance Sheet 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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account 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.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 3,883 3,883
Other debtors 0 7,923
3,883 11,806

4. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 250 488

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 4,961
Other taxation and social security 713 0
Other creditors 1,750,375 1,744,520
1,751,088 1,749,481

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100,000 Ordinary shares shares of £ 0.001 each 100 100

7. Ultimate controlling party

The immediate parent and ultimate controlling party is Jumani Global Holdings Limited, with registered office of 30 Woodsford Square, London, England, W14 8DP.