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Company No: 11030027 (England and Wales)

AGATE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 05 April 2025
Pages for filing with the registrar

AGATE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 05 April 2025

Contents

AGATE HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 05 April 2025
AGATE HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 05 April 2025
Note 2025 2024
£ £
Restated - note 2
Fixed assets
Investments 5 12,613,935 11,905,025
12,613,935 11,905,025
Current assets
Debtors
- due within one year 6 207,841 122,740
- due after more than one year 6 0 75,000
Cash at bank and in hand 189,238 43,063
397,079 240,803
Creditors: amounts falling due within one year 7 ( 367,897) ( 382,134)
Net current assets/(liabilities) 29,182 (141,331)
Total assets less current liabilities 12,643,117 11,763,694
Provision for liabilities ( 288,531) ( 164,101)
Net assets 12,354,586 11,599,593
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account 12,354,585 11,599,592
Total shareholders' funds 12,354,586 11,599,593

For the financial year ending 05 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Agate Holdings Limited (registered number: 11030027) were approved and authorised for issue by the Director on 06 August 2025. They were signed on its behalf by:

Andrew John Brook
Director
AGATE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2025
AGATE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2025
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

Agate Holdings 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 Pure Offices, Cheltenham Office Park, Hatherley Lane, Cheltenham, GL51 6SH, 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 director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net assets of £12,354,586 but net current assets of £29,182. The Company is supported through loans from the subsidiary company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the subsidiary company will continue to support the company. After making enquiries, the director believes that any foreseeable debts can be met 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.

Prior year adjustment

Where material misstatements are found in prior year figures, then these figures are restated for comparability.

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.

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).

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer 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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

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

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.

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. Prior year adjustment

The comparative information has been restated as below, to include a dividend from the subsidiary company omitted in earlier years:

As previously reported Adjustment As restated
Year ended 05 April 2024 £ £ £
Amounts owed to subsidiary (2,106,332) 1,737,845 (368,487)
Retained Earnings 6,826,094 1,737,845 8,563,939

3. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Computer equipment Total
£ £
Cost
At 06 April 2024 1,308 1,308
Disposals ( 1,308) ( 1,308)
At 05 April 2025 0 0
Accumulated depreciation
At 06 April 2024 1,308 1,308
Disposals ( 1,308) ( 1,308)
At 05 April 2025 0 0
Net book value
At 05 April 2025 0 0
At 05 April 2024 0 0

5. Fixed asset investments

Investments in subsidiaries

2025
£
Cost
At 06 April 2024 2
At 05 April 2025 2
Carrying value at 05 April 2025 2
Carrying value at 05 April 2024 2

Listed investments Total
£ £
Cost or valuation before impairment
At 06 April 2024 11,905,023 11,905,023
Additions 1,588,730 1,588,730
Disposals ( 511,120) ( 511,120)
Movement in fair value ( 368,700) ( 368,700)
At 05 April 2025 12,613,933 12,613,933
Carrying value at 05 April 2025 12,613,933 12,613,933
Carrying value at 05 April 2024 11,905,023 11,905,023

6. Debtors

2025 2024
£ £
Debtors: amounts falling due within one year
Prepayments 30,882 22,740
Corporation tax 4,959 0
Other debtors 172,000 100,000
207,841 122,740
Debtors: amounts falling due after more than one year
Other debtors 0 75,000

7. Creditors: amounts falling due within one year

2025 2024
£ £
Taxation and social security 0 10,047
Other creditors 367,897 372,087
367,897 382,134

8. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each 1 1

9. Related party transactions

Transactions with owners holding a participating interest in the entity

During the year, dividends of £300,000 (2024: £505,000) were paid to the shareholders.