Silverfin false false 31/12/2024 01/01/2024 31/12/2024 S Boel 01/04/2021 T Inoue 14/03/2023 R J Kickham 01/05/2021 D G P Lilley 30/03/2021 N Paraskevas 04/05/2022 S Pelletier 25/02/2025 J L Rogiers 05/03/2021 I Scarlett 28/10/2020 T J Watkin 10/12/2020 18 June 2025 The principal activity of the company during the year was that of an electronic waste (“e-waste”) recycling company that is seeking to set new standards in e-waste recycling and metal recovery by developing the world’s first zero-waste smelter, capable of handling a wide range of e-waste sources, to facilitate creation of a novel, circular system for strategic metals. 12981405 2024-12-31 12981405 bus:Director1 2024-12-31 12981405 bus:Director2 2024-12-31 12981405 bus:Director3 2024-12-31 12981405 bus:Director4 2024-12-31 12981405 bus:Director5 2024-12-31 12981405 bus:Director6 2024-12-31 12981405 bus:Director7 2024-12-31 12981405 bus:Director8 2024-12-31 12981405 bus:Director9 2024-12-31 12981405 2023-12-31 12981405 core:CurrentFinancialInstruments 2024-12-31 12981405 core:CurrentFinancialInstruments 2023-12-31 12981405 core:ShareCapital 2024-12-31 12981405 core:ShareCapital 2023-12-31 12981405 core:SharePremium 2024-12-31 12981405 core:SharePremium 2023-12-31 12981405 core:RetainedEarningsAccumulatedLosses 2024-12-31 12981405 core:RetainedEarningsAccumulatedLosses 2023-12-31 12981405 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 12981405 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 12981405 core:CostValuation 2023-12-31 12981405 core:CostValuation 2024-12-31 12981405 bus:OrdinaryShareClass1 2024-12-31 12981405 bus:OrdinaryShareClass2 2024-12-31 12981405 2024-01-01 2024-12-31 12981405 bus:FilletedAccounts 2024-01-01 2024-12-31 12981405 bus:SmallEntities 2024-01-01 2024-12-31 12981405 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12981405 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12981405 bus:Director1 2024-01-01 2024-12-31 12981405 bus:Director2 2024-01-01 2024-12-31 12981405 bus:Director3 2024-01-01 2024-12-31 12981405 bus:Director4 2024-01-01 2024-12-31 12981405 bus:Director5 2024-01-01 2024-12-31 12981405 bus:Director6 2024-01-01 2024-12-31 12981405 bus:Director7 2024-01-01 2024-12-31 12981405 bus:Director8 2024-01-01 2024-12-31 12981405 bus:Director9 2024-01-01 2024-12-31 12981405 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2024-01-01 2024-12-31 12981405 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 12981405 2023-01-01 2023-12-31 12981405 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 12981405 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12981405 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 12981405 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12981405 (England and Wales)

EXURBAN LIMITED

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

EXURBAN LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

EXURBAN LIMITED

BALANCE SHEET

As at 31 December 2024
EXURBAN LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 5,074,126 3,539,710
Investments 4 8 8
5,074,134 3,539,718
Current assets
Debtors 5 495,600 1,192,589
Cash at bank and in hand 51,489 1,213,422
547,089 2,406,011
Creditors: amounts falling due within one year 6 ( 794,787) ( 1,090,265)
Net current (liabilities)/assets (247,698) 1,315,746
Total assets less current liabilities 4,826,436 4,855,464
Net assets 4,826,436 4,855,464
Capital and reserves
Called-up share capital 7 75,341 75,341
Share premium account 9,194,260 9,194,260
Profit and loss account ( 4,443,165 ) ( 4,414,137 )
Total shareholders' funds 4,826,436 4,855,464

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:

The financial statements of Exurban Limited (registered number: 12981405) were approved and authorised for issue by the Board of Directors on 18 June 2025. They were signed on its behalf by:

S Boel
Director
EXURBAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
EXURBAN 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 year, unless otherwise stated.

General information and basis of accounting

Exurban 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 C/O Arch Law Huckletree Bishopsgate, 8 Bishopsgate, London, EC2N 4BQ, 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 directors have assessed the Balance Sheet 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.

Change in accounting estimate

The company has changed its accounting estimate on the amortisation of the intangible development costs. In previous years, the intangible development costs were amortised over 10 years. Now, the intangible development costs are amortised over 20 years. The estimate has changed to more fairly reflect the useful life of the intangible development costs.

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 20 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

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 that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 3

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2024 4,057,331 4,057,331
Additions 1,760,944 1,760,944
At 31 December 2024 5,818,275 5,818,275
Accumulated amortisation
At 01 January 2024 517,621 517,621
Charge for the financial year 226,528 226,528
At 31 December 2024 744,149 744,149
Net book value
At 31 December 2024 5,074,126 5,074,126
At 31 December 2023 3,539,710 3,539,710

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 8
At 31 December 2024 8
Carrying value at 31 December 2024 8
Carrying value at 31 December 2023 8

5. Debtors

2024 2023
£ £
Trade debtors 204,223 337,534
Amounts owed by Group undertakings 0 89,227
Corporation tax 267,885 730,842
Other debtors 23,492 34,986
495,600 1,192,589

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 171,416 457,450
Amounts owed to Group undertakings 436,597 0
Other taxation and social security 4,952 2,329
Other creditors 181,822 630,486
794,787 1,090,265

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,001 Ordinary B shares of £ 1.00 each 5,001 5,001
70,340 Ordinary A shares of £ 1.00 each 70,340 70,340
75,341 75,341