Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false3falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01Holding company3falsetrue 03655014 2023-04-01 2024-03-31 03655014 2022-04-01 2023-03-31 03655014 2024-03-31 03655014 2023-03-31 03655014 c:Director1 2023-04-01 2024-03-31 03655014 d:CurrentFinancialInstruments 2024-03-31 03655014 d:CurrentFinancialInstruments 2023-03-31 03655014 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03655014 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03655014 d:ShareCapital 2024-03-31 03655014 d:ShareCapital 2023-03-31 03655014 d:CapitalRedemptionReserve 2024-03-31 03655014 d:CapitalRedemptionReserve 2023-03-31 03655014 d:RetainedEarningsAccumulatedLosses 2024-03-31 03655014 d:RetainedEarningsAccumulatedLosses 2023-03-31 03655014 c:FRS102 2023-04-01 2024-03-31 03655014 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03655014 c:FullAccounts 2023-04-01 2024-03-31 03655014 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03655014 2 2023-04-01 2024-03-31 03655014 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03655014










SILBURN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SILBURN LIMITED
REGISTERED NUMBER: 03655014

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
3,599,350
6,234,599

  
3,599,350
6,234,599

Current assets
  

Debtors: amounts falling due within one year
 5 
5,665,058
35,059

Cash at bank and in hand
 6 
2,013,707
14,182

  
7,678,765
49,241

Creditors: amounts falling due within one year
 7 
(21,706,289)
(14,641,189)

Net current liabilities
  
 
 
(14,027,524)
 
 
(14,591,948)

Total assets less current liabilities
  
(10,428,174)
(8,357,349)

  

Net liabilities
  
(10,428,174)
(8,357,349)


Capital and reserves
  

Called up share capital 
  
674,715
674,715

Capital redemption reserve
  
325,285
325,285

Profit and loss account
  
(11,428,174)
(9,357,349)

  
(10,428,174)
(8,357,349)


Page 1

 
SILBURN LIMITED
REGISTERED NUMBER: 03655014
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2025.




S L Bernstein
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SILBURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Silburn Limited is a private company limited by shares, incorporated in England and Wales. The registered
office is 51 Welbeck Street, London, England, W1G 9HL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the directors have received confirmation that the loans due to related parties will not be repayable until the company has the necessary resources.

 
2.3

Revenue

Revenue represents investment income from investments held by the Company.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

Page 3

 
SILBURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

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 profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The
Page 4

 
SILBURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
SILBURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Fixed asset investments





Investments in associates

£



Cost


At 1 April 2023
13,942,690


Disposals
(189,500)


Amounts written off
(14,280)



At 31 March 2024

13,738,910



Impairment


At 1 April 2023
7,708,091


Charge for the period
2,431,469



At 31 March 2024

10,139,560



Net book value



At 31 March 2024
3,599,350



At 31 March 2023
6,234,599


5.


Debtors

2024
2023
£
£


Amounts owed by related undertakings
5,661,182
-

Other debtors
3,876
35,059

5,665,058
35,059


Page 6

 
SILBURN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,013,707
14,182



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,370
-

Amounts owed to related undertakings
19,073,530
12,558,663

Other creditors
2,630,389
2,082,526

21,706,289
14,641,189


 
Page 7