Silverfin false false 30/09/2024 01/10/2023 30/09/2024 A J Edwards 31/03/2024 07/12/2017 A C Grate Axen 07/12/2017 P R C Jeffery 28/09/2016 27 May 2025 no description of principal activity 10399041 2024-09-30 10399041 bus:Director1 2024-09-30 10399041 bus:Director2 2024-09-30 10399041 bus:Director3 2024-09-30 10399041 2023-09-30 10399041 core:CurrentFinancialInstruments 2024-09-30 10399041 core:CurrentFinancialInstruments 2023-09-30 10399041 core:ShareCapital 2024-09-30 10399041 core:ShareCapital 2023-09-30 10399041 core:RetainedEarningsAccumulatedLosses 2024-09-30 10399041 core:RetainedEarningsAccumulatedLosses 2023-09-30 10399041 core:OfficeEquipment 2023-09-30 10399041 core:OfficeEquipment 2024-09-30 10399041 bus:OrdinaryShareClass1 2024-09-30 10399041 bus:OrdinaryShareClass2 2024-09-30 10399041 bus:OrdinaryShareClass3 2024-09-30 10399041 2023-10-01 2024-09-30 10399041 bus:FilletedAccounts 2023-10-01 2024-09-30 10399041 bus:SmallEntities 2023-10-01 2024-09-30 10399041 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10399041 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10399041 bus:Director1 2023-10-01 2024-09-30 10399041 bus:Director2 2023-10-01 2024-09-30 10399041 bus:Director3 2023-10-01 2024-09-30 10399041 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 10399041 2022-10-01 2023-09-30 10399041 core:OfficeEquipment 2023-10-01 2024-09-30 10399041 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 10399041 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 10399041 bus:OrdinaryShareClass2 2023-10-01 2024-09-30 10399041 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 10399041 bus:OrdinaryShareClass3 2023-10-01 2024-09-30 10399041 bus:OrdinaryShareClass3 2022-10-01 2023-09-30 10399041 1 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10399041 (England and Wales)

SKIFF CAPITAL ADVISORS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

SKIFF CAPITAL ADVISORS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

SKIFF CAPITAL ADVISORS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
SKIFF CAPITAL ADVISORS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,276 6,280
2,276 6,280
Current assets
Debtors 4 257,814 147,008
Cash at bank and in hand 538,032 641,819
795,846 788,827
Creditors: amounts falling due within one year 5 ( 188,721) ( 284,645)
Net current assets 607,125 504,182
Total assets less current liabilities 609,401 510,462
Net assets 609,401 510,462
Capital and reserves
Called-up share capital 6 300 300
Profit and loss account 609,101 510,162
Total shareholders' funds 609,401 510,462

For the financial year ending 30 September 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 Skiff Capital Advisors Ltd (registered number: 10399041) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

P R C Jeffery
Director

27 May 2025

SKIFF CAPITAL ADVISORS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
SKIFF CAPITAL ADVISORS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Skiff Capital Advisors Ltd (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 First Floor, 5 Fleet Place, London, EC4M 7RD, 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 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.

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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings 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 Statement of Financial Position date.

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:

Office equipment 3 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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 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

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 due from related companies, 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/Statement of Comprehensive Income.

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 and other creditors and accruals, 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 liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

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.

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 Statement of Financial Position 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.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 0 0

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 October 2023 25,251 25,251
Additions 793 793
At 30 September 2024 26,044 26,044
Accumulated depreciation
At 01 October 2023 18,971 18,971
Charge for the financial year 4,797 4,797
At 30 September 2024 23,768 23,768
Net book value
At 30 September 2024 2,276 2,276
At 30 September 2023 6,280 6,280

4. Debtors

2024 2023
£ £
Trade debtors 29,253 80,430
Other debtors 228,561 66,578
257,814 147,008

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 26,593 34,034
Taxation and social security 155,869 112,260
Other creditors 6,259 138,351
188,721 284,645

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
102 Ordinary A shares of £ 1.00 each 102 102
99 Ordinary B shares of £ 1.00 each 99 99
99 Ordinary C shares of £ 1.00 each 99 99
300 300

7. Related party transactions

Transactions with the entity's directors

At 30 September 2024, £96,647 was owed to the company by the director, P R C Jeffery. Interest received on this balance amounted to £1,799. The balance is repayable on demand.

8. Events after the Balance Sheet date

After 30 September 2024, a resolution was passed to reduce the Company's capital by cancelling all of the issued Ordinary - C shares of £1 each in the Company