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Company No: 02830103 (England and Wales)

J.A. EWING & CO. (LONDON) LIMITED

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

J.A. EWING & CO. (LONDON) LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

J.A. EWING & CO. (LONDON) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2024
J.A. EWING & CO. (LONDON) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 2,590,197 3,034,828
2,590,197 3,034,828
Current assets
Debtors 4 1,352,607 999,273
Cash at bank and in hand 67,027 290,207
1,419,634 1,289,480
Creditors: amounts falling due within one year 5 ( 42,746) ( 512,035)
Net current assets 1,376,888 777,445
Total assets less current liabilities 3,967,085 3,812,273
Net assets 3,967,085 3,812,273
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 43,252 ( 49,087 )
Profit and loss account 3,923,733 3,861,260
Total shareholder's funds 3,967,085 3,812,273

For the financial year ending 30 November 2024 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 J.A. Ewing & Co. (London) Limited (registered number: 02830103) were approved and authorised for issue by the Director. They were signed on its behalf by:

R A Ettlinger
Director

28 August 2025

J.A. EWING & CO. (LONDON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
J.A. EWING & CO. (LONDON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

J.A. Ewing & Co. (London) 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 100 Marylebone Road 100 Marylebone Road, London, NW1 5DX, 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 £.

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.

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 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:

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.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 December 2023 100
Disposals ( 100)
At 30 November 2024 0
Carrying value at 30 November 2024 0
Carrying value at 30 November 2023 100

Listed investments Other investments Total
£ £ £
Cost or valuation before impairment
At 01 December 2023 915,191 2,119,537 3,034,728
Additions 96,026 48 96,074
Disposals ( 647,362) 0 ( 647,362)
Movement in fair value 106,757 0 106,757
At 30 November 2024 470,612 2,119,585 2,590,197
Carrying value at 30 November 2024 470,612 2,119,585 2,590,197
Carrying value at 30 November 2023 915,191 2,119,537 3,034,728

4. Debtors

2024 2023
£ £
Trade debtors 260,000 844,125
Other debtors 1,092,607 155,148
1,352,607 999,273

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 6,060
Amounts owed to fellow subsidiaries 0 2,509
Taxation and social security 21,551 11,510
Other creditors 21,195 491,956
42,746 512,035

6. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Other debtors 945,602 (485,001)

Included within other debtors was a loan due from Mr R A Ettlinger. This comprised an opening balance of (£485,001) and advances of £1,421,081, leaving a year end balance of £945,602. Interest is charged at HMRC's beneficial loan interest rate of 2.25%. This balance is unsecured with no fixed repayment terms.

Other related party transactions

2024 2023
£ £
Brentano Suite Elstree Limited 110,000 135,000
Argo Finance Limited 0 105,625

The company has made advances to the above companies in which Mr R A Ettlinger has an interest. Where possible, the company has taken advantage of the exemption conferred by FRS 102 section
33.1A from the requirement to disclose transactions with other wholly-owned group undertakings.