Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Ms Ying Jiang 20/11/2008 Dr Zhen Ye 05/07/2004 11 April 2025 The principal activity of the company is that of providing intellectual property management services internationally. 05171030 2024-07-31 05171030 bus:Director1 2024-07-31 05171030 bus:Director2 2024-07-31 05171030 2023-07-31 05171030 core:CurrentFinancialInstruments 2024-07-31 05171030 core:CurrentFinancialInstruments 2023-07-31 05171030 core:ShareCapital 2024-07-31 05171030 core:ShareCapital 2023-07-31 05171030 core:RetainedEarningsAccumulatedLosses 2024-07-31 05171030 core:RetainedEarningsAccumulatedLosses 2023-07-31 05171030 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 05171030 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-31 05171030 core:PlantMachinery 2023-07-31 05171030 core:PlantMachinery 2024-07-31 05171030 bus:OrdinaryShareClass1 2024-07-31 05171030 2023-08-01 2024-07-31 05171030 bus:FilletedAccounts 2023-08-01 2024-07-31 05171030 bus:SmallEntities 2023-08-01 2024-07-31 05171030 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05171030 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05171030 bus:Director1 2023-08-01 2024-07-31 05171030 bus:Director2 2023-08-01 2024-07-31 05171030 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-08-01 2024-07-31 05171030 core:PlantMachinery core:TopRangeValue 2023-08-01 2024-07-31 05171030 2022-08-01 2023-07-31 05171030 core:PlantMachinery 2023-08-01 2024-07-31 05171030 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 05171030 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05171030 (England and Wales)

GOLDEN BOUGH INTERNATIONAL INTELLECTUAL PROPERTY LIMITED

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

GOLDEN BOUGH INTERNATIONAL INTELLECTUAL PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

GOLDEN BOUGH INTERNATIONAL INTELLECTUAL PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
GOLDEN BOUGH INTERNATIONAL INTELLECTUAL PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 767 1,097
767 1,097
Current assets
Debtors 5 9,775 12,375
Cash at bank and in hand 6 703 432
10,478 12,807
Creditors: amounts falling due within one year 7 ( 151,092) ( 139,870)
Net current liabilities (140,614) (127,063)
Total assets less current liabilities (139,847) (125,966)
Net liabilities ( 139,847) ( 125,966)
Capital and reserves
Called-up share capital 8 120,778 120,778
Profit and loss account ( 260,625 ) ( 246,744 )
Total shareholders' deficit ( 139,847) ( 125,966)

For the financial year ending 31 July 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 Golden Bough International Intellectual Property limited (registered number: 05171030) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Ms Ying Jiang
Director

11 April 2025

GOLDEN BOUGH INTERNATIONAL INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
GOLDEN BOUGH INTERNATIONAL INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

Golden Bough International Intellectual Property 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 19 Temple Mead Close, Stanmore, HA7 3RG.

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

Total liabilities exceed current assets at the balance sheet date. The directors consider, however that the company has sufficient support from its creditors. Accordingly the directors consider that it is appropriate to prepare the accounts on a going concern basis.

Foreign currency

**Functional and presentation currency**

The Company's functional and presentational currency is GBP.

**Transactions and balances**

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

**Rendering of services**

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Development costs 10 years straight line
Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery 5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

2. Employees

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

3. Intangible assets

Development costs Total
£ £
Cost
At 01 August 2023 53,379 53,379
At 31 July 2024 53,379 53,379
Accumulated amortisation
At 01 August 2023 53,379 53,379
At 31 July 2024 53,379 53,379
Net book value
At 31 July 2024 0 0
At 31 July 2023 0 0

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 August 2023 14,316 14,316
At 31 July 2024 14,316 14,316
Accumulated depreciation
At 01 August 2023 13,219 13,219
Charge for the financial year 330 330
At 31 July 2024 13,549 13,549
Net book value
At 31 July 2024 767 767
At 31 July 2023 1,097 1,097

5. Debtors

2024 2023
£ £
Trade debtors 9,465 12,053
Other debtors 310 322
9,775 12,375

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 703 432

7. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 1,987 1,662
Other taxation and social security 864 864
Other creditors 148,241 137,344
151,092 139,870

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
120,778 Ordinary shares of £ 1.00 each 120,778 120,778

9. Related party transactions

Other related party transactions

Included within other creditors is a balance of £148,241 (2023: £137,344) owed to Ms Ying Jiang, a director. The balance is also unsecured and interest free.