Silverfin false false 31/12/2024 01/01/2024 31/12/2024 J Clinton 12/09/2022 M Duffey 12/09/2022 G Wood 12/09/2022 19 May 2025 The principal activity of the company is that of providing funeral and related services. 14351473 2024-12-31 14351473 bus:Director1 2024-12-31 14351473 bus:Director2 2024-12-31 14351473 bus:Director3 2024-12-31 14351473 2023-12-31 14351473 core:CurrentFinancialInstruments 2024-12-31 14351473 core:CurrentFinancialInstruments 2023-12-31 14351473 core:ShareCapital 2024-12-31 14351473 core:ShareCapital 2023-12-31 14351473 core:RetainedEarningsAccumulatedLosses 2024-12-31 14351473 core:RetainedEarningsAccumulatedLosses 2023-12-31 14351473 core:FurnitureFittings 2023-12-31 14351473 core:ComputerEquipment 2023-12-31 14351473 core:FurnitureFittings 2024-12-31 14351473 core:ComputerEquipment 2024-12-31 14351473 bus:OrdinaryShareClass1 2024-12-31 14351473 2024-01-01 2024-12-31 14351473 bus:FilletedAccounts 2024-01-01 2024-12-31 14351473 bus:SmallEntities 2024-01-01 2024-12-31 14351473 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14351473 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14351473 bus:Director1 2024-01-01 2024-12-31 14351473 bus:Director2 2024-01-01 2024-12-31 14351473 bus:Director3 2024-01-01 2024-12-31 14351473 core:FurnitureFittings core:BottomRangeValue 2024-01-01 2024-12-31 14351473 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 14351473 core:ComputerEquipment core:BottomRangeValue 2024-01-01 2024-12-31 14351473 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 14351473 2022-09-12 2023-12-31 14351473 core:FurnitureFittings 2024-01-01 2024-12-31 14351473 core:ComputerEquipment 2024-01-01 2024-12-31 14351473 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 14351473 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 14351473 bus:OrdinaryShareClass1 2022-09-12 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14351473 (England and Wales)

EVEREST FUNERAL CONCIERGE (UK) LIMITED

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

EVEREST FUNERAL CONCIERGE (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

EVEREST FUNERAL CONCIERGE (UK) LIMITED

BALANCE SHEET

As at 31 December 2024
EVEREST FUNERAL CONCIERGE (UK) LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.12.2023
£ £
Fixed assets
Tangible assets 3 2,628 1,778
2,628 1,778
Current assets
Debtors 4 26,378 50,748
Cash at bank and in hand 368,801 20,873
395,179 71,621
Creditors: amounts falling due within one year 5 ( 1,167,657) ( 705,332)
Net current liabilities (772,478) (633,711)
Total assets less current liabilities (769,850) (631,933)
Net liabilities ( 769,850) ( 631,933)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 769,950 ) ( 632,033 )
Total shareholder's deficit ( 769,850) ( 631,933)

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Everest Funeral Concierge (UK) Limited (registered number: 14351473) were approved and authorised for issue by the Board of Directors on 19 May 2025. They were signed on its behalf by:

M Duffey
Director
EVEREST FUNERAL CONCIERGE (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
EVEREST FUNERAL CONCIERGE (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 period, unless otherwise stated.

General information and basis of accounting

Everest Funeral Concierge (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 21 Holborn Viaduct, London, United Kingdom , EC1A 2DY.

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 liquid assets to meet its liabilities as and when they fall due and that the company has sufficient support from its directors,shareholders and creditors. Accordingly the directors consider that it is appropriate to prepare the accounts on a going concern basis.

Reporting period length

The previous accounting year was a 15 month 19 day period ending 31 December 2023 as compared to current year which is a 12-month period ending 31 December 2024. Periods are therefore not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 0 - 4 years straight line
Computer equipment 0 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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

Year ended
31.12.2024
Period from
12.09.2022 to
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 January 2024 220 2,386 2,606
Additions 0 1,913 1,913
At 31 December 2024 220 4,299 4,519
Accumulated depreciation
At 01 January 2024 53 775 828
Charge for the financial year 55 1,008 1,063
At 31 December 2024 108 1,783 1,891
Net book value
At 31 December 2024 112 2,516 2,628
At 31 December 2023 167 1,611 1,778

4. Debtors

31.12.2024 31.12.2023
£ £
Trade debtors 0 9
Other debtors 26,378 50,739
26,378 50,748

5. Creditors: amounts falling due within one year

31.12.2024 31.12.2023
£ £
Trade creditors 72,589 34,510
Amounts owed to Group undertakings 964,209 565,482
Other taxation and social security 43,096 18,030
Other creditors 87,763 87,310
1,167,657 705,332

The directors consider that the carrying amount of trade payables approximates to their fair value.

6. Called-up share capital

31.12.2024 31.12.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with owners holding a participating interest in the entity

31.12.2024 31.12.2023
£ £
Everest UK Holdings LLC 719,779 434,983
Everest Funeral Package LLC 244,429 130,499

At the year end the company owed £719,779 (2023 - £434,983) to Everest UK Holdings LLC , the parent company, in respect of an interest free loan which is repayable on demand.
At the year end the company owed £244,429 (2023- £130,499) to Everest Funeral Package LLC, the connected company, in respect of a loan which is repayable on demand. Interest of £13,930 was charged.