Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Mr A G D Esse 21 May 2025 The principal activity of the company was to provide strategic advice to investment managers, funds and growing business. 08753991 2024-10-31 08753991 2023-10-31 08753991 core:CurrentFinancialInstruments 2024-10-31 08753991 core:CurrentFinancialInstruments 2023-10-31 08753991 core:ShareCapital 2024-10-31 08753991 core:ShareCapital 2023-10-31 08753991 core:RetainedEarningsAccumulatedLosses 2024-10-31 08753991 core:RetainedEarningsAccumulatedLosses 2023-10-31 08753991 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-10-31 08753991 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-10-31 08753991 bus:OrdinaryShareClass1 2024-10-31 08753991 2023-11-01 2024-10-31 08753991 bus:FilletedAccounts 2023-11-01 2024-10-31 08753991 bus:SmallEntities 2023-11-01 2024-10-31 08753991 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 08753991 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 08753991 bus:Director1 2023-11-01 2024-10-31 08753991 2022-11-01 2023-10-31 08753991 core:CurrentFinancialInstruments 2023-11-01 2024-10-31 08753991 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 08753991 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08753991 (England and Wales)

MEYDAN ASSET MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

MEYDAN ASSET MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

MEYDAN ASSET MANAGEMENT LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
MEYDAN ASSET MANAGEMENT LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
DIRECTOR Mr A G D Esse
SECRETARY Mr J Curry
REGISTERED OFFICE 264 Banbury Road
Oxford
Oxfordshire
England
OX2 7DY
United Kingdom
COMPANY NUMBER 08753991 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
United Kingdom
MEYDAN ASSET MANAGEMENT LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2024
MEYDAN ASSET MANAGEMENT LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 2,185,659 2,185,659
2,185,659 2,185,659
Current assets
Debtors 4 6,340,190 6,336,888
Cash at bank and in hand 84 323
6,340,274 6,337,211
Creditors: amounts falling due within one year 5 ( 6,096,878) ( 6,028,325)
Net current assets 243,396 308,886
Total assets less current liabilities 2,429,055 2,494,545
Net assets 2,429,055 2,494,545
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 2,429,054 2,494,544
Total shareholder's funds 2,429,055 2,494,545

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Meydan Asset Management Limited (registered number: 08753991) were approved and authorised for issue by the Director on 21 May 2025. They were signed on its behalf by:

Mr A G D Esse
Director
MEYDAN ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
MEYDAN ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 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

Meydan Asset Management 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 264 Banbury Road, Oxford, Oxfordshire, England, OX2 7DY, 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 £.

Basis of consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.

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 Balance Sheet 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.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 2,185,659 2,185,659

4. Debtors

2024 2023
£ £
Amounts owed by own subsidiaries 2,067,464 2,067,464
Other debtors 4,272,726 4,269,424
6,340,190 6,336,888

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 8,512 850
Corporation tax 926 926
Other taxation and social security 5,872,954 5,871,365
Other creditors 214,486 155,184
6,096,878 6,028,325

The company previously undertook arrangements that gave rise to certain credits to the Director's loan account.  HMRC are of the view that PAYE should be applied on those credits and that the Director should make good that liability to the company.  The Director disputes this view and is currently in discussions with HMRC on this matter.  Whilst the Director does not currently accept that this liability is due, he has taken the prudent view to accrue for this potential liability in these accounts. The liability of £5,867,623 (2023: £5,867,623) is included within tax and social security.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary shares of £1 each share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's director

Included in current liabilities is £100,137 owed to a director (2023: £150,937) . This amount is unsecured with no fixed repayable terms other than it is repayable on demand. No interest has been charged on this amount.

Other related party transactions

The company has taken advantage of the exemptions provided by paragraph 1AC.35 of FRS 102 and has not disclosed transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.