Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Gabriel Chipperfield 20/05/2013 20 May 2025 The principal activity of the Company during the financial year was the development of building projects and related consultancy. 08535976 2024-05-31 08535976 bus:Director1 2024-05-31 08535976 2023-05-31 08535976 core:CurrentFinancialInstruments 2024-05-31 08535976 core:CurrentFinancialInstruments 2023-05-31 08535976 core:Non-currentFinancialInstruments 2024-05-31 08535976 core:Non-currentFinancialInstruments 2023-05-31 08535976 core:ShareCapital 2024-05-31 08535976 core:ShareCapital 2023-05-31 08535976 core:RetainedEarningsAccumulatedLosses 2024-05-31 08535976 core:RetainedEarningsAccumulatedLosses 2023-05-31 08535976 core:LandBuildings 2023-05-31 08535976 core:OtherPropertyPlantEquipment 2023-05-31 08535976 core:LandBuildings 2024-05-31 08535976 core:OtherPropertyPlantEquipment 2024-05-31 08535976 core:CostValuation 2023-05-31 08535976 core:AdditionsToInvestments 2024-05-31 08535976 core:CostValuation 2024-05-31 08535976 core:ProvisionsForImpairmentInvestments 2023-05-31 08535976 core:ImpairmentLossProvisionsForImpairmentInvestments 2024-05-31 08535976 core:ProvisionsForImpairmentInvestments 2024-05-31 08535976 bus:OrdinaryShareClass1 2024-05-31 08535976 2023-06-01 2024-05-31 08535976 bus:FilletedAccounts 2023-06-01 2024-05-31 08535976 bus:SmallEntities 2023-06-01 2024-05-31 08535976 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08535976 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08535976 bus:Director1 2023-06-01 2024-05-31 08535976 core:LandBuildings core:TopRangeValue 2023-06-01 2024-05-31 08535976 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-06-01 2024-05-31 08535976 2022-06-01 2023-05-31 08535976 core:LandBuildings 2023-06-01 2024-05-31 08535976 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 08535976 core:Subsidiary1 2023-06-01 2024-05-31 08535976 core:Subsidiary1 1 2023-06-01 2024-05-31 08535976 core:Subsidiary2 2023-06-01 2024-05-31 08535976 core:Subsidiary2 1 2023-06-01 2024-05-31 08535976 core:CurrentFinancialInstruments 2023-06-01 2024-05-31 08535976 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 08535976 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 08535976 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 08535976 1 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 08535976 (England and Wales)

GABRIEL CHIPPERFIELD LIMITED

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

GABRIEL CHIPPERFIELD LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

GABRIEL CHIPPERFIELD LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
GABRIEL CHIPPERFIELD LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTOR Gabriel Chipperfield
REGISTERED OFFICE Flat 2
7 Cambridge Gate
London
NW1 4JX
United Kingdom
COMPANY NUMBER 08535976 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
GABRIEL CHIPPERFIELD LIMITED

BALANCE SHEET

As at 31 May 2024
GABRIEL CHIPPERFIELD LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 253,330 193,132
Investments 4 1,282,729 1,556,422
1,536,059 1,749,554
Current assets
Debtors 5 393,488 3,307
Cash at bank and in hand 6 812,505 450,788
1,205,993 454,095
Creditors: amounts falling due within one year 7 ( 1,046,476) ( 1,173,575)
Net current assets/(liabilities) 159,517 (719,480)
Total assets less current liabilities 1,695,576 1,030,074
Creditors: amounts falling due after more than one year 8 ( 452,687) ( 140,849)
Net assets 1,242,889 889,225
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account 1,242,888 889,224
Total shareholder's funds 1,242,889 889,225

For the financial year ending 31 May 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 Gabriel Chipperfield Limited (registered number: 08535976) were approved and authorised for issue by the Director on 20 May 2025. They were signed on its behalf by:

Gabriel Chipperfield
Director
GABRIEL CHIPPERFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
GABRIEL CHIPPERFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

Gabriel Chipperfield 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 Flat 2, 7 Cambridge Gate, London, NW1 4JX, 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

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

Land and buildings 10 years straight line
Plant and machinery etc. 5 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

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

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

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 June 2023 138,492 186,377 324,869
Additions 0 107,543 107,543
At 31 May 2024 138,492 293,920 432,412
Accumulated depreciation
At 01 June 2023 23,700 108,037 131,737
Charge for the financial year 13,849 33,496 47,345
At 31 May 2024 37,549 141,533 179,082
Net book value
At 31 May 2024 100,943 152,387 253,330
At 31 May 2023 114,792 78,340 193,132

4. Fixed asset investments

Investments in associates Other investments Total
£ £ £
Cost or valuation before impairment
At 01 June 2023 1,885,229 40,000 1,925,229
Additions 207,500 0 207,500
At 31 May 2024 2,092,729 40,000 2,132,729
Provisions for impairment
At 01 June 2023 368,807 0 368,807
Impairment 481,193 0 481,193
At 31 May 2024 850,000 0 850,000
Carrying value at 31 May 2024 1,242,729 40,000 1,282,729
Carrying value at 31 May 2023 1,516,422 40,000 1,556,422

Investments in associates are held at cost less impairment because their fair value cannot be measured reliably.

Included within Investments in associates is a long term loan of £1,582,728 which is interest free. Impairment of £850,000 has been charged against carrying value of this long term loan.

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.05.2024
7 Hatton Street Limited 7 Hatton Street, London, England, NW8 8PL Development and letting of commercial property Ordinary 50.00%
Wendover Studio Limited 7 Hatton Street, London, England, NW8 8PL Architectural design and construction Ordinary 50.00%

5. Debtors

2024 2023
£ £
Trade debtors 90,713 0
Other debtors 302,775 3,307
393,488 3,307

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 812,505 450,788

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 51,388
Trade creditors 148,507 140,916
Taxation and social security 124,887 152,230
Obligations under finance leases and hire purchase contracts 7,050 7,050
Other creditors 766,032 821,991
1,046,476 1,173,575

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

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

2024 2023
£ £
Bank loans 0 86,112
Obligations under finance leases and hire purchase contracts 47,687 54,737
Other creditors 405,000 0
452,687 140,849

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

9. Called-up share capital

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

10. Financial commitments

The Company had no material capital commitments at the year ended 31 May 2024.

11. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Management fee income 902,170 144,575
Amounts due to the entities 749,287 0

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Management fee income 427,750 259,367
Amounts due from the entities 301,922 0

Transactions with the entity's director

2024 2023
£ £
Amounts owed to director 964 9,890

12. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.