Silverfin false false 31/08/2024 01/09/2023 31/08/2024 A H Cohen 16/02/2017 N J Henry 16/02/2017 G P Osen 01/07/2024 W P Rosenberg 16/02/2017 29 May 2025 The principal activity of the Company during the financial year was that of a holding company. 10623466 2024-08-31 10623466 bus:Director1 2024-08-31 10623466 bus:Director2 2024-08-31 10623466 bus:Director3 2024-08-31 10623466 bus:Director4 2024-08-31 10623466 2023-08-31 10623466 core:CurrentFinancialInstruments 2024-08-31 10623466 core:CurrentFinancialInstruments 2023-08-31 10623466 core:ShareCapital 2024-08-31 10623466 core:ShareCapital 2023-08-31 10623466 core:RetainedEarningsAccumulatedLosses 2024-08-31 10623466 core:RetainedEarningsAccumulatedLosses 2023-08-31 10623466 core:CostValuation 2023-08-31 10623466 core:AdditionsToInvestments 2024-08-31 10623466 core:CostValuation 2024-08-31 10623466 1 2024-08-31 10623466 1 2023-08-31 10623466 bus:OrdinaryShareClass1 2024-08-31 10623466 2023-09-01 2024-08-31 10623466 bus:FilletedAccounts 2023-09-01 2024-08-31 10623466 bus:SmallEntities 2023-09-01 2024-08-31 10623466 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10623466 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10623466 bus:Director1 2023-09-01 2024-08-31 10623466 bus:Director2 2023-09-01 2024-08-31 10623466 bus:Director3 2023-09-01 2024-08-31 10623466 bus:Director4 2023-09-01 2024-08-31 10623466 2022-09-01 2023-08-31 10623466 core:Subsidiary1 2023-09-01 2024-08-31 10623466 core:Subsidiary1 1 2023-09-01 2024-08-31 10623466 core:Subsidiary1 1 2022-09-01 2023-08-31 10623466 core:Subsidiary2 2023-09-01 2024-08-31 10623466 core:Subsidiary2 1 2023-09-01 2024-08-31 10623466 core:Subsidiary2 1 2022-09-01 2023-08-31 10623466 core:Subsidiary3 2023-09-01 2024-08-31 10623466 core:Subsidiary3 1 2023-09-01 2024-08-31 10623466 core:Subsidiary3 1 2022-09-01 2023-08-31 10623466 core:Subsidiary4 2023-09-01 2024-08-31 10623466 core:Subsidiary4 1 2023-09-01 2024-08-31 10623466 core:Subsidiary4 1 2022-09-01 2023-08-31 10623466 core:Subsidiary5 2023-09-01 2024-08-31 10623466 core:Subsidiary5 1 2023-09-01 2024-08-31 10623466 core:Subsidiary5 1 2022-09-01 2023-08-31 10623466 core:Subsidiary6 2023-09-01 2024-08-31 10623466 core:Subsidiary6 1 2023-09-01 2024-08-31 10623466 core:Subsidiary6 1 2022-09-01 2023-08-31 10623466 core:Subsidiary7 2023-09-01 2024-08-31 10623466 core:Subsidiary7 1 2023-09-01 2024-08-31 10623466 core:Subsidiary7 1 2022-09-01 2023-08-31 10623466 core:Subsidiary8 2023-09-01 2024-08-31 10623466 core:Subsidiary8 1 2023-09-01 2024-08-31 10623466 core:Subsidiary8 1 2022-09-01 2023-08-31 10623466 core:Subsidiary9 2023-09-01 2024-08-31 10623466 core:Subsidiary9 1 2023-09-01 2024-08-31 10623466 core:Subsidiary9 1 2022-09-01 2023-08-31 10623466 core:Subsidiary10 2023-09-01 2024-08-31 10623466 core:Subsidiary10 1 2023-09-01 2024-08-31 10623466 core:Subsidiary10 1 2022-09-01 2023-08-31 10623466 core:Subsidiary11 2023-09-01 2024-08-31 10623466 core:Subsidiary11 1 2023-09-01 2024-08-31 10623466 core:Subsidiary11 1 2022-09-01 2023-08-31 10623466 core:CurrentFinancialInstruments 2023-09-01 2024-08-31 10623466 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 10623466 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 10623466 1 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 10623466 (England and Wales)

FUSION GLOBAL INVESTMENTS HOLDCO LIMITED

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

FUSION GLOBAL INVESTMENTS HOLDCO LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

FUSION GLOBAL INVESTMENTS HOLDCO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
FUSION GLOBAL INVESTMENTS HOLDCO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 305 295
305 295
Current assets
Debtors 4 6,139,963 3,927,424
Investments 5 5,579,934 0
Cash at bank and in hand 200,665 0
11,920,562 3,927,424
Creditors: amounts falling due within one year 6 ( 11,274,327) ( 5,996,503)
Net current assets/(liabilities) 646,235 (2,069,079)
Total assets less current liabilities 646,540 (2,068,784)
Net assets/(liabilities) 646,540 ( 2,068,784)
Capital and reserves
Called-up share capital 7 101 101
Profit and loss account 646,439 ( 2,068,885 )
Total shareholder's funds/(deficit) 646,540 ( 2,068,784)

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.

Directors' responsibilities:

The financial statements of Fusion Global Investments Holdco Limited (registered number: 10623466) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A H Cohen
Director

29 May 2025

FUSION GLOBAL INVESTMENTS HOLDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
FUSION GLOBAL INVESTMENTS HOLDCO 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

Fusion Global Investments Holdco 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The principal activity of the Company during the financial year was that of a holding company.

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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

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 Statement of Financial Position 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.

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.

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

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts owed by group undertakings are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade creditors and accruals, and amounts owed to group undertakings 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 directors 3 3

3. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 300 290
Participating interests 5 5
305 295

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 290
Additions 10
At 31 August 2024 300
Carrying value at 31 August 2024 300
Carrying value at 31 August 2023 290

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 September 2023 5 5
At 31 August 2024 5 5
Carrying value at 31 August 2024 5 5
Carrying value at 31 August 2023 5 5

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.08.2024
Ownership
31.08.2023
Fusion Liverpool Central Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
K Edward Court Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
Fusion Birmingham Propco Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
Fusion Portsmouth Propco Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
Fusion Manchester Propco Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
Fusion Sheff Propco 2 Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
Fusion Glasgow Propco Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
AF Holdco Ltd 35 Ballards Lane, London, N3 1XW Holding Company Ordinary 100.00% 100.00%
Fusion Investment Holdings Ltd 35 Ballards Lane, London, N3 1XW Holding Company Ordinary 100.00% 100.00%
Fusion Cardiff Propco Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 100.00%
Fusion Edinburgh Propco Ltd 35 Ballards Lane, London, N3 1XW Property Investment Ordinary 100.00% 0.00%

4. Debtors

2024 2023
£ £
Amounts owed by group undertakings 1,475,116 1,475,116
Other debtors 4,664,847 2,452,308
6,139,963 3,927,424

Amounts owed by group undertakings consists of intracompany loans of £1,475,116 (2023: £1,475,116) which are unsecured and interest free.

5. Current asset investments

2024 2023
£ £
Other short term investments 5,579,934 0

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to group undertakings 11,180,861 5,996,498
Taxation and social security 93,461 0
Other creditors 5 5
11,274,327 5,996,503

Amounts owed to group undertakings consists of intracompany loans of £11,180,861 (2023: £5,996,498) out of which £1,970,541 (2023: Nil) are secured via fixed charge in a group entity covering all of the property and undertaking of that entity as well as a charge over the assets of the group. The outstanding charge includes a negative pledge. The other loans are unsecured and interest free.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
101 Ordinary shares of £ 1.00 each 101 101

8. Ultimate controlling party

Parent Company:

The parent undertaking is Fusion Global Investments LLP
The registered office address is 35 Ballards Lane, London, N3 1XW

The principal place of business is Fusion House, The Green, Letchmore Heath, Herts, WD25 8ER