| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
| FOR |
| SERVY INVESTMENTS LTD |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
| FOR |
| SERVY INVESTMENTS LTD |
| SERVY INVESTMENTS LTD (REGISTERED NUMBER: 12980110) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SERVY INVESTMENTS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Certified Accountants |
| & Statutory Auditors |
| 2 Manor Farm Court |
| Old Wolverton Road |
| Old Wolverton |
| Milton Keynes |
| Buckinghamshire |
| MK12 5NN |
| SERVY INVESTMENTS LTD (REGISTERED NUMBER: 12980110) |
| BALANCE SHEET |
| 31 DECEMBER 2023 |
| 2023 | 2022 |
| Notes | $ | $ | $ | $ |
| FIXED ASSETS |
| Investments in subsidiaries | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Financial instruments | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| SERVY INVESTMENTS LTD (REGISTERED NUMBER: 12980110) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 1. | STATUTORY INFORMATION |
| Servy Investments Ltd is a |
| The presentation currency of the financial statements is the US Dollar ($). |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| TURNOVER |
| Turnover for the year represents income generated from investment activities, including dividend income from equity securities, interest income from fixed-income securities, and realised gains from the sale of financial assets. It may also include management fees if applicable. |
| Turnover is recognised in line with the company's accounting policies and financial reporting standards, while unrealised gains or losses are excluded and reflected separately in fair value adjustments. |
| INVESTMENTS IN SUBSIDIARIES |
| Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
| FINANCIAL INSTRUMENTS |
| The company invests in fixed income and other investments. |
| The company adopted appropriate policies related to the recognition, classification and measurement of financial assets and liabilities derecognition of financial instruments and impairment of financial assets and hedge accounting. |
| Non current financial assets are measured at amortised cost: the asset is measured at the amount measured initial recognition minus principal repayments plus or minus cumulative amortisation of any difference between that initial amount and the maturity amount and any loss allowance. Changes in fair value are recognised in profit and loss when the asset is derecognised or reclassified. |
| Current financial assets are measured at fair value through profit and loss. Changes in fair value are recognised in profit and loss as they arise. |
| CASH AND CASH EQUIVALENTS |
| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
| SERVY INVESTMENTS LTD (REGISTERED NUMBER: 12980110) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| FOREIGN CURRENCIES |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| BUSINESS COMBINATIONS |
| Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. |
| INVESTMENTS |
| Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. |
| Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SERVY INVESTMENTS LTD (REGISTERED NUMBER: 12980110) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 4. | INVESTMENTS IN SUBSIDIARIES |
| Shares in |
| group |
| undertakings |
| $ |
| COST |
| At 1 January 2023 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2023 |
| PROVISIONS |
| At 1 January 2023 |
| and 31 December 2023 | 4,700,622 |
| NET BOOK VALUE |
| At 31 December 2023 |
| At 31 December 2022 |
| During the period, the company Empresa de Participacoes em Projetos de Saeamento was absorbed into Servy Paricipacoes em Saneamento Ltda, with a capital gain of $916,712. |
| Details of undertakings |
| Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows: |
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
| 2023 | 2022 |
| Subsidiary undertakings |
Servy Participacoes |
Brazil |
Ordinary shares |
100% |
100% |
| Servy Participacoes em Saneamento Ltda. |
Brazil |
Ordinary shares |
100% |
100% |
| Sociedade de participacoes e Projetos de Saneamento - SSP |
Brazil |
Ordinary shares |
100% |
100% |
| The subsidiary, "Servy Saneamento Ltda" company name was changed to be "Sociedade de Participação em Projetos de Saneamento Ltda". |
| The principal activity of all of the above subsidiary undertakings are water sanitation and rental of non-residential buildings. |
| SERVY INVESTMENTS LTD (REGISTERED NUMBER: 12980110) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| $ | $ |
| Amounts owed by group undertakings |
| Accrued interest |
| 6. | FINANCIAL INSTRUMENTS |
| Financial Assets at fair value through profit and loss |
Total |
| $ | $ |
| Cost or Valuation |
| At 1 January 2023 | 66,303,753 | 66,303,753 |
| Additions | 77,304,853 | 77,304,853 |
| Disposals | (71,133,849 | ) | (71,133,849 | ) |
| Fair value adjustments | 278,296 | 278,296 |
| At 31 December 2023 | 72,753,328 | 72,753,328 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| $ | $ |
| Amounts owed to group undertakings |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | $ | $ |
| Ordinary | £1 | 107,286,078 | 107,286,078 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| At the Balance Sheet date, the company owed $19,962 (2023 - $19,275) and was owed $46,174 (2023 - $46,174) to/from related parties. |