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Company No: 10573937 (England and Wales)

ARRAKIS INVESTMENTS LIMITED

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

ARRAKIS INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

ARRAKIS INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
ARRAKIS INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTOR J J Raymond
REGISTERED OFFICE 165 Fleet Street
London
EC4A 2DY
United Kingdom
COMPANY NUMBER 10573937 (England and Wales)
ACCOUNTANT S&W Partners LLP
Onslow House
Onslow Street
Guildford
GU1 4TL
ARRAKIS INVESTMENTS LIMITED

BALANCE SHEET

As at 31 August 2024
ARRAKIS INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 712,599 703,578
712,599 703,578
Current assets
Debtors 4 60,115 20,391
Cash at bank and in hand 10,719 7,006
70,834 27,397
Creditors: amounts falling due within one year 5 ( 1,053,183) ( 802,300)
Net current liabilities (982,349) (774,903)
Total assets less current liabilities (269,750) (71,325)
Provision for liabilities 6 ( 72,974) ( 92,959)
Net liabilities ( 342,724) ( 164,284)
Capital and reserves
Called-up share capital 7 117,567 117,567
Other reserves 218,923 278,876
Profit and loss account ( 679,214 ) ( 560,727 )
Total shareholders' deficit ( 342,724) ( 164,284)

For the financial year ending 31 August 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 Arrakis Investments Limited (registered number: 10573937) were approved and authorised for issue by the Director on 28 May 2025. They were signed on its behalf by:

J J Raymond
Director
ARRAKIS INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
ARRAKIS INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Arrakis Investments 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 165 Fleet Street, London, EC4A 2DY, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Arrakis Investments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Also, the Director has agreed to continue to support the company for the foreseeable future to meet day to day needs of the company.

For this reason the director continues to adopt the going concern basis for the preparation of the Financial Statements. Accordingly, these financial statements do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the company was unable to continue as a going concern.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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.

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.

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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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 creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, 2 1

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 1
Additions 1
At 31 August 2024 2
Carrying value at 31 August 2024 2
Carrying value at 31 August 2023 1

Other investments Total
£ £
Cost or valuation before impairment
At 01 September 2023 703,577 703,577
Additions 88,957 88,957
Disposals ( 79,937) ( 79,937)
At 31 August 2024 712,597 712,597
Carrying value at 31 August 2024 712,597 712,597
Carrying value at 31 August 2023 703,577 703,577

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 25,115 20,391
Other debtors 35,000 0
60,115 20,391

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 95,337 69,479
Accruals 6,684 6,902
Other taxation and social security 3,247 3,004
Other creditors 947,915 722,915
1,053,183 802,300

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 92,959) ( 43,670)
Credited/(charged) to the Profit and Loss Account 19,985 ( 49,289)
At the end of financial year ( 72,974) ( 92,959)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Fair value gain on investment ( 72,974) ( 92,959)

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
117,537 A ordinary shares of £ 1.00 each 117,537 117,537
30 B ordinary shares of £ 1.00 each 30 30
117,567 117,567

Other reserves

The fair value reserve represents unrealised gains on investments that are not distributable, net of adjustments for deferred tax.

Profit and loss account

The profit and loss account represents accumulated realised profit and loss reserves

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,321 (2023 - £1,321). Contributions totalling £257 (2023 - £257) were payable to the fund at the balance sheet date and are included in creditors.

9. Related party transactions

Transactions with director

The director made a loan to the company of £219,832 (2023: £157,000). This loan is unsecured, interest free and with no set date for repayment. At the year end an amount of £942,491 (2023: £722,658) is due to the director.

Transactions with related parties

During the period Arrakis Investments Limited lent to a company under common control, an amount of £4,723 (2023: £3,251). At the year end, £25,115 was owed (2023: £20,391). These amounts are unsecured, interest free and with no set date for repayment.

The company has also claimed exemption under FRS 102 for disclosing intercompany transactions with its 100% subsidary.