Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr A Turner 01/05/2015 Mr B Turner 01/05/2015 Mrs G Turner 07/04/2014 Mrs S Turner 07/04/2014 29 May 2025 The principal activity of the Company during the financial year was that of a holding company and a shareholder of Toffeln Ltd. 08981830 2024-12-31 08981830 bus:Director1 2024-12-31 08981830 bus:Director2 2024-12-31 08981830 bus:Director3 2024-12-31 08981830 bus:Director4 2024-12-31 08981830 2023-12-31 08981830 core:CurrentFinancialInstruments 2024-12-31 08981830 core:CurrentFinancialInstruments 2023-12-31 08981830 core:ShareCapital 2024-12-31 08981830 core:ShareCapital 2023-12-31 08981830 core:RetainedEarningsAccumulatedLosses 2024-12-31 08981830 core:RetainedEarningsAccumulatedLosses 2023-12-31 08981830 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 08981830 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 08981830 core:CostValuation 2023-12-31 08981830 core:CostValuation 2024-12-31 08981830 bus:OrdinaryShareClass1 2024-12-31 08981830 bus:OrdinaryShareClass2 2024-12-31 08981830 bus:OrdinaryShareClass3 2024-12-31 08981830 bus:OrdinaryShareClass4 2024-12-31 08981830 2024-01-01 2024-12-31 08981830 bus:FilletedAccounts 2024-01-01 2024-12-31 08981830 bus:SmallEntities 2024-01-01 2024-12-31 08981830 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08981830 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08981830 bus:Director1 2024-01-01 2024-12-31 08981830 bus:Director2 2024-01-01 2024-12-31 08981830 bus:Director3 2024-01-01 2024-12-31 08981830 bus:Director4 2024-01-01 2024-12-31 08981830 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2024-01-01 2024-12-31 08981830 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 08981830 2023-01-01 2023-12-31 08981830 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 08981830 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08981830 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 08981830 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 08981830 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 08981830 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 08981830 bus:OrdinaryShareClass4 2024-01-01 2024-12-31 08981830 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08981830 (England and Wales)

ALLINGTON IP LIMITED

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

ALLINGTON IP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ALLINGTON IP LIMITED

BALANCE SHEET

As at 31 December 2024
ALLINGTON IP LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 912,439 1,002,506
Investments 4 1,098 1,098
913,537 1,003,604
Current assets
Debtors 5 551,343 401,618
Cash at bank and in hand 201,336 150,125
752,679 551,743
Creditors: amounts falling due within one year 6 ( 190,603) ( 260,392)
Net current assets 562,076 291,351
Total assets less current liabilities 1,475,613 1,294,955
Net assets 1,475,613 1,294,955
Capital and reserves
Called-up share capital 7 2,500 2,500
Profit and loss account 1,473,113 1,292,455
Total shareholders' funds 1,475,613 1,294,955

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 Allington IP Limited (registered number: 08981830) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Mr A Turner
Director
ALLINGTON IP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ALLINGTON IP 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

Allington IP 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 No 3 Greenways Business Park, Chippenham, SN15 1BN, 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover compromises royalties receivable in respect of the use of trademarks held by the company, net of value added tax. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Dividends on equity investments are recognised in income when receivable.

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

Trademarks, licences and customer-related assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Trademarks, patents and licences 20 years straight line
Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 20 years which is their estimated useful economic life. Provision is made for any impairment.

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.

Investments in joint ventures are carried at cost less impairment. An entity is treated as a joint venture where the company is party to a contractual agreement with one or more other parties to undertake an economic activity that is subject to joint control.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 1

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 January 2024 2,246,370 2,246,370
Additions 18,455 18,455
Disposals ( 21,271) ( 21,271)
At 31 December 2024 2,243,554 2,243,554
Accumulated amortisation
At 01 January 2024 1,243,864 1,243,864
Charge for the financial year 92,185 92,185
Disposals ( 4,934) ( 4,934)
At 31 December 2024 1,331,115 1,331,115
Net book value
At 31 December 2024 912,439 912,439
At 31 December 2023 1,002,506 1,002,506

4. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 100 100
Participating interests 998 998
1,098 1,098

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 100
At 31 December 2024 100
Carrying value at 31 December 2024 100
Carrying value at 31 December 2023 100

The company holds the entire called up share capital of V12 Footwear Limited (company number: 09126148), A.T.F.P Limited (07243437), B.T.F.P Limited (07243443). The relevant address is the company's registered office as disclosed in Note 1.

Investments in joint ventures Total
£ £
Cost or valuation before impairment
At 01 January 2024 998 998
At 31 December 2024 998 998
Carrying value at 31 December 2024 998 998
Carrying value at 31 December 2023 998 998

The company holds 998 Ordinary B shares of the 2,000 issued shares in Toffeln Ltd (company number 07564620) whose registered address is Unit 2 Bridge Road, Kingswood, Bristol, BS15 4FW.

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 506,343 401,618
Other debtors 45,000 0
551,343 401,618

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 16,607 55
Amounts owed to joint ventures 0 7,069
Taxation and social security 161,088 102,775
Other creditors 12,908 150,493
190,603 260,392

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
7,500 Ordinary A shares of £ 0.10 each 750 750
7,500 Ordinary B shares of £ 0.10 each 750 750
5,000 Ordinary C shares of £ 0.10 each 500 500
5,000 Ordinary D shares of £ 0.10 each 500 500
2,500 2,500

The 10p Ordinary A, B, C and D shares rank pari passu for voting rights which entitle the holder to rights to capital and dividends.

8. Related party transactions

Summary of transactions with all subsidiaries

During the current and prior year a loan account existed between V12 Footwear Limited and Allington IP Limited. A commercial rate of interest was charged on this loan. The balance is repayable on demand. The amount due to the parent company at the year end was £506,343 (2023: £401,618).

During the year income of £93,859 (2023: £82,000) and dividends of £542,950 (2023: £232,332) were received from Toffeln Ltd.

During the year income of £342,911 (2023: £115,800) and dividends of £809,587 (2023: £797,990) were received from V12 Footwear Limited.

During the year royalties of £223,459 (2023: £245,601) were charged to V12 Footwear Limited.