Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Christopher Colin Kaye 11/12/2017 09 May 2025 The principal activity of the Company during the financial year was that of life insurance broking. 11104703 2024-12-31 11104703 bus:Director1 2024-12-31 11104703 core:CurrentFinancialInstruments 2024-12-31 11104703 core:CurrentFinancialInstruments 2023-12-31 11104703 2023-12-31 11104703 core:Non-currentFinancialInstruments 2024-12-31 11104703 core:Non-currentFinancialInstruments 2023-12-31 11104703 core:ShareCapital 2024-12-31 11104703 core:ShareCapital 2023-12-31 11104703 core:RetainedEarningsAccumulatedLosses 2024-12-31 11104703 core:RetainedEarningsAccumulatedLosses 2023-12-31 11104703 bus:OrdinaryShareClass1 2024-12-31 11104703 2024-01-01 2024-12-31 11104703 bus:FilletedAccounts 2024-01-01 2024-12-31 11104703 bus:SmallEntities 2024-01-01 2024-12-31 11104703 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11104703 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11104703 bus:Director1 2024-01-01 2024-12-31 11104703 2023-01-01 2023-12-31 11104703 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 11104703 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 11104703 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11104703 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11104703 (England and Wales)

SHERPA MANAGEMENT SERVICES UK LIMITED

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

SHERPA MANAGEMENT SERVICES UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SHERPA MANAGEMENT SERVICES UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
SHERPA MANAGEMENT SERVICES UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Current assets
Debtors 3 26,665 34,365
Cash at bank and in hand 1,076 233
27,741 34,598
Creditors: amounts falling due within one year 4 ( 19,109) ( 13,441)
Net current assets 8,632 21,157
Total assets less current liabilities 8,632 21,157
Creditors: amounts falling due after more than one year 5 ( 7,170) ( 14,907)
Net assets 1,462 6,250
Capital and reserves
Called-up share capital 6 611,700 611,700
Profit and loss account ( 610,238 ) ( 605,450 )
Total shareholder's funds 1,462 6,250

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:

The financial statements of Sherpa Management Services UK Limited (registered number: 11104703) were approved and authorised for issue by the Director on 09 May 2025. They were signed on its behalf by:

Christopher Colin Kaye
Director
SHERPA MANAGEMENT SERVICES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SHERPA MANAGEMENT SERVICES UK 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

Sherpa Management Services UK 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 85 First Floor, Great Portland Street, London, W1W 7LT, 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

In 2024 the directors made the decision that the Company would cease trading and that the residual trading activities be transferred to certain fellow group companies. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

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 Statement of Financial Position 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.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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.

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. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 25,990 33,690
Amounts owed by director 675 675
26,665 34,365

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,329 10,141
Amounts owed to Group undertakings 5,480 0
Accruals 3,300 3,300
19,109 13,441

There are no amounts included above in respect of which any security has been given by the small entity.

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 7,170 14,907

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
611,700 A ordinary shares of £ 1.00 each 611,700 611,700

7. Related party transactions

During the year the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.

At the year end, the director owed the company £675 (2023: £675). This loan is interest free with no fixed date for repayment.

8. Ultimate controlling party

Parent Company:

Insurance Decision Technologies, Inc
850 New Burton Road, Suite 201, Dover, Delaware, United States of America