Company No: 12770471 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Investments	3	125,229		140,666
		125,229		140,666
Creditors: amounts falling due within one year	4	( 510)		( 510)
Net current liabilities		(510)		(510)
Total assets less current liabilities		124,719		140,156
Creditors: amounts falling due after more than one year	5	( 435,249)		( 434,739)
Net liabilities		( 310,530)		( 294,583)
Capital and reserves
Called-up share capital	6	240		240
Profit and loss account		( 310,770 )		( 294,823 )
Total shareholders' deficit		( 310,530)		( 294,583)

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Elvan Capital Limited (registered number: 12770471) were approved and authorised for issue by the Board of Directors on 08 September 2025. They were signed on its behalf by:

B R Sautelle-Smith Director

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

Elvan Capital 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 C/O Francis Clark LLP Lowin House, Tregolls Road, Truro, TR1 2NA, 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 rounded to the nearest £. The functional currency of the Company is US dollars.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £310,530. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe 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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet 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.

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.

2. Employees

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

3. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	140,666		140,666
Movement in fair value	( 17,890)		( 17,890)
Foreign exchange movement	2,453		2,453
At 31 December 2024	125,229		125,229
Carrying value at 31 December 2024	125,229		125,229
Carrying value at 31 December 2023	140,666		140,666

4. Creditors: amounts falling due within one year

	2024		2023
	£		£
Other creditors	510		510

5. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Other creditors	435,249		434,739

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
240 Ordinary shares of £ 1.00 each	240		240

7. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Balance owing to the director at the year end	435,249		434,739