Silverfin false false 30/06/2024 01/07/2023 30/06/2024 A Gillespie 12/02/2014 C Robertson 12/02/2014 26 March 2025 The principal activities of the Company during the financial year continued to be that of software solution development for businesses and a holding company. SC469782 2024-06-30 SC469782 bus:Director1 2024-06-30 SC469782 bus:Director2 2024-06-30 SC469782 2023-06-30 SC469782 core:CurrentFinancialInstruments 2024-06-30 SC469782 core:CurrentFinancialInstruments 2023-06-30 SC469782 core:ShareCapital 2024-06-30 SC469782 core:ShareCapital 2023-06-30 SC469782 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC469782 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC469782 2022-06-30 SC469782 core:CostValuation 2023-06-30 SC469782 core:CostValuation 2024-06-30 SC469782 bus:OrdinaryShareClass1 2024-06-30 SC469782 2023-07-01 2024-06-30 SC469782 bus:FilletedAccounts 2023-07-01 2024-06-30 SC469782 bus:SmallEntities 2023-07-01 2024-06-30 SC469782 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC469782 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC469782 bus:Director1 2023-07-01 2024-06-30 SC469782 bus:Director2 2023-07-01 2024-06-30 SC469782 2022-07-01 2023-06-30 SC469782 core:Subsidiary1 2023-07-01 2024-06-30 SC469782 core:Subsidiary1 1 2023-07-01 2024-06-30 SC469782 core:Subsidiary1 1 2022-07-01 2023-06-30 SC469782 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC469782 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: SC469782 (Scotland)

WAYLAND ST. CLAIR LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

WAYLAND ST. CLAIR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

WAYLAND ST. CLAIR LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
WAYLAND ST. CLAIR LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Investments 4 125,000 125,000
125,000 125,000
Current assets
Debtors 5 3,772 3,772
Cash at bank and in hand 29,853 27,009
33,625 30,781
Net current assets 33,625 30,781
Total assets less current liabilities 158,625 155,781
Net assets 158,625 155,781
Capital and reserves
Called-up share capital 6 200 200
Profit and loss account 158,425 155,581
Total shareholders' funds 158,625 155,781

For the financial year ending 30 June 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 Wayland St. Clair Limited (registered number: SC469782) were approved and authorised for issue by the Board of Directors on 26 March 2025. They were signed on its behalf by:

C Robertson
Director
WAYLAND ST. CLAIR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
WAYLAND ST. CLAIR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

Wayland St. Clair Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is First Floor, 9 Haymarket Square, Edinburgh, EH3 8RY, 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 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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant using the Black-Scholes model. The fair value determined at the grant date of the equity-settled share-based payments, if material, is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

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 are recognised at transaction price.

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.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

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

3. Share-based payments

Equity-settled share-based payment schemes

The Company has a share option scheme for all employees.

Options are exercisable at a price equal to the estimated fair value of the Company’s shares on the date of grant. The vesting period is three years. If the options remain unexercised after a period of five years from the date of grant the options expire. Options are forfeited if the employee leaves the Company before the options vest.

Details of the share options outstanding during the financial year are as follows:

2024 2023
Weighted Average Weighted Average
Number of share options Average exercise price (£) Number of share options Average exercise price (£)
Outstanding at beginning of period 0 0 0 0
Granted during the period 9,350 0.45 0 0
Outstanding at the end of the period 9,350 0.45 0 0
Exercisable at the end of the period 0 0 0 0

The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

The Black-Scholes model is considered to apply the most appropriate valuation method due to the relatively short contractual lives of the options and the requirement to exercise within a short period after the employee becomes entitled to the shares (the “vesting date”).

The expected life used in the model has been adjusted, based on management’s best estimate, for the effect of non-transferability, exercise restrictions, and behavioural considerations.

The share options are of equity-settled EMI options and have a maximum term of 5 years.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 125,000
At 30 June 2024 125,000
Carrying value at 30 June 2024 125,000
Carrying value at 30 June 2023 125,000

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.06.2024
Ownership
30.06.2023
IQ Integrity Limited Westpoint House Pavilion, 2 Prospect Park, Propspect Road, Westhill, Aberdeenshire, AB32 6FJ Software & development Ordinary 100.00% 100.00%

5. Debtors

2024 2023
£ £
Other debtors 3,772 3,772

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
200,000 Ordinary shares of £ 0.001 each (2023: 200 shares of £ 1.00 each) 200 200

On 12 July 2023, Ordinary shares were sub-divided from 200 Ordinary shares of £1 each to 200,000 Ordinary shares of £0.001 each.