Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Mrs E A Inglis-Jones 19/12/2017 Dr J J Inglis-Jones 17/07/2012 01 September 2025 The principal activity of the Company during the financial year was fund management activities. 08146624 2025-03-31 08146624 bus:Director1 2025-03-31 08146624 bus:Director2 2025-03-31 08146624 2024-03-31 08146624 core:CurrentFinancialInstruments 2025-03-31 08146624 core:CurrentFinancialInstruments 2024-03-31 08146624 core:ShareCapital 2025-03-31 08146624 core:ShareCapital 2024-03-31 08146624 core:SharePremium 2025-03-31 08146624 core:SharePremium 2024-03-31 08146624 core:RetainedEarningsAccumulatedLosses 2025-03-31 08146624 core:RetainedEarningsAccumulatedLosses 2024-03-31 08146624 core:OfficeEquipment 2024-03-31 08146624 core:OfficeEquipment 2025-03-31 08146624 core:ListedExchangeTraded core:WithinOneYear 2025-03-31 08146624 core:ListedExchangeTraded core:WithinOneYear 2024-03-31 08146624 1 2025-03-31 08146624 1 2024-03-31 08146624 bus:OrdinaryShareClass1 2025-03-31 08146624 bus:OrdinaryShareClass2 2025-03-31 08146624 bus:OrdinaryShareClass3 2025-03-31 08146624 2024-04-01 2025-03-31 08146624 bus:FilletedAccounts 2024-04-01 2025-03-31 08146624 bus:SmallEntities 2024-04-01 2025-03-31 08146624 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 08146624 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08146624 bus:Director1 2024-04-01 2025-03-31 08146624 bus:Director2 2024-04-01 2025-03-31 08146624 core:OfficeEquipment core:TopRangeValue 2024-04-01 2025-03-31 08146624 2023-04-01 2024-03-31 08146624 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 08146624 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08146624 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 08146624 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 08146624 bus:OrdinaryShareClass3 2024-04-01 2025-03-31 08146624 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 08146624 bus:OrdinaryShareClass4 2024-04-01 2025-03-31 08146624 bus:OrdinaryShareClass4 2023-04-01 2024-03-31 08146624 1 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08146624 (England and Wales)

# LADDERSTREAM ASSET MANAGEMENT LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

LADDERSTREAM ASSET MANAGEMENT LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

LADDERSTREAM ASSET MANAGEMENT LIMITED

## BALANCE SHEET

As at 31 March 2025
LADDERSTREAM ASSET MANAGEMENT LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Current assets |  |  |  |
Investments | 4 | 10,396,611 |  | 9,575,109
Cash at bank and in hand |  | 188,020 |  | 222,533
|  | 10,584,631 |  | 9,797,642
Creditors: amounts falling due within one year | 5 | ( 5,608,921) |  | ( 5,359,990)
Net current assets |  | 4,975,710 |  | 4,437,652
Total assets less current liabilities |  | 4,975,710 |  | 4,437,652
Provision for liabilities |  | ( 890,000) |  | ( 786,500)
Net assets |  | 4,085,710 |  | 3,651,152
Capital and reserves |  |  |  |
Called-up share capital | 6 | 153,290 |  | 100
Share premium account |  | 48,710 |  | 0
Profit and loss account | 10 | 3,883,710 |  | 3,651,052
Total shareholders' funds |  | 4,085,710 |  | 3,651,152

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Ladderstream Asset Management Limited (registered number: 08146624) were approved and authorised for issue by the Board of Directors on 01 September 2025. They were signed on its behalf by:

Dr J J Inglis-Jones Director |

LADDERSTREAM ASSET MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
LADDERSTREAM ASSET MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Ladderstream Asset Management 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 Denham Lodge, Buckland Monachorum, Yelverton, PL20 7NR, 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.

##### 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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

##### Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

##### 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.
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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### 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 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.

##### 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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

#### 2. Employees

| 2025 |  | 2024
| 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 April 2024 | 1,722 |  | 1,722
At 31 March 2025 | 1,722 |  | 1,722
Accumulated depreciation |  |  |
At 01 April 2024 | 1,722 |  | 1,722
At 31 March 2025 | 1,722 |  | 1,722
Net book value |  |  |
At 31 March 2025 | 0 |  | 0
At 31 March 2024 | 0 |  | 0

#### 4. Current asset investments

| 2025 |  | 2024
| £ |  | £
Listed investments – at fair value | 8,956,384 |  | 8,516,037
Other investments – at fair value | 1,440,227 |  | 1,059,072
| 10,396,611 |  | 9,575,109

The listed investments held by the company were revalued to their fair value on 31 March 2025 using freely available market prices for each assets as on that date.
The other investments at fair value comprises physical gold and unlisted shares. They are held at fair value as their market value is quantifiable using readily available pricing data.

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 0 |  | 10,800
Amounts owed to directors | 5,347,692 |  | 5,327,366
Accruals | 261,229 |  | 21,824
| 5,608,921 |  | 5,359,990

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
101,290 Ordinary A shares of £ 1.00 each (2024: nil shares) | 101,290 |  | 0
51,000 Ordinary B shares of £ 1.00 each (2024: nil shares) | 51,000 |  | 0
1,000 Ordinary C shares of £ 1.00 each (2024: nil shares) | 1,000 |  | 0
Nil Ordinary shares (2024: 100 shares of £ 1.00 each) | 0 |  | 100
| 153,290 |  | 100

During the year, the Ordinary shares of the company were re-designated as Ordinary C shares. The company then allotted and issued 100,000 Ordinary A shares, 1,000 Ordinary B shares, and 900 Ordinary C shares at par. The rights attached to each class of shares are as set out in the Articles of Association adopted 5 July 2024 and filed at Companies House.
Later in the year, a further 1,290 Ordinary A shares and 50,000 Ordinary B shares were allotted and issued at par. The rights attached to each class of shares are as set out in the Articles of Association adopted 5 July 2024 and filed at Companies House.

#### 7. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Director | 5,347,692 |  | 5,327,366

A loan existed between a director and the company during the year. Interest has been accrued on this loan at 0.5% below the Bank of England base rate from 5 March 2024 and is repayable on demand.

#### 8. Events after the Balance Sheet date

On 1 April 2025, the company allotted and issued 3,486 Ordinary A shares and 149,000 Ordinary B shares for a total consideration of £298,000. The rights attached to each class of shares are as set out in the Articles of Association adopted 5 July 2024 and filed at Companies House.

#### 9. Fixed asset investments

| 2025 |  | 2024
| £ |  | £
Balance brought forward | 9,575,109 |  | 8,665,646
Additions | 117,068 |  | 889,155
Disposals | 0 |  | (927,369)
Fair value movement | 704,434 |  | 947,677
| 10,396,611 |  | 9,575,109

The financial assets held by the company were revalued to fair value on 31 March 2025 using freely available market prices for each asset as on that date.

#### 10. Reserves

Included within the company's profit and loss account are non-distributable reserves which comprise of unrealised gains and losses on financial instruments held at fair value, together with any deferred tax provided on these unrealised amounts. At 31 March 2025, the total amount included in the profit and loss account which was non-distributable equalled £3,015,831 (2024: £2,364,329).