Company No: 10322491 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

L D Miles

SECRETARY

MYUKOFFICE LTD

REGISTERED OFFICE	8 Northumberland Avenue
	WC2N 5BY London
	United Kingdom

BUSINESS ADDRESS	White Collar Factory
	1 Old Street Yard
	London, EC1Y 8AF
	United Kingdom

COMPANY NUMBER

10322491 (England and Wales)

AUDITOR	Try Lunn & Co
	Chartered Accountants and Statutory Auditors
	Statutory Auditor
	Roland House
	Princes Dock Street
	Hull
	HU1 2LD
	United Kingdom

	Note	31.12.2024		31.03.2024
		£		£
Fixed assets
Intangible assets	3	2,713		8,204
Tangible assets	4	28,895		29,764
		31,608		37,968
Current assets
Debtors	5	553,468		229,250
Cash at bank and in hand		164,762		336,821
		718,230		566,071
Creditors: amounts falling due within one year	6	( 227,560)		( 214,297)
Net current assets		490,670		351,774
Total assets less current liabilities		522,278		389,742
Net assets		522,278		389,742
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		522,178		389,642
Total shareholder's funds		522,278		389,742

The notes form part of these financial statements.

The 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 Silverfin Software Ltd (registered number: 10322491) were approved and authorised for issue by the Director on 13 June 2025. They were signed on its behalf by:

L D Miles Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Silverfin Software Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company is dependent on the continued financial support of it's parent company Silverfin NV, a company registered in Belgium, who has agreed to provide such support to Silverfin Software Ltd. The company will be able to meet it's debts as they fall due for the foreseeable future. Accordingly the financial statements have been prepared on the going concern basis.

Reporting period length

The financial statements have been prepared for the period from 1 April 2024 to 31 December 2024, which is a period shorter than one year.

The change arises from the decision to align the financial year end with the calendar year, moving from 1 April – 31 March to 1 January – 31 December.

As a result, the comparative amounts presented in these financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of management fees charged to the parent company for provision of services. The turnover is based on costs incurred in providing services plus an agreed mark up.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software	3 years straight line
Website costs	3 years straight line

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings	4 years straight line
Computer equipment	4 years straight line

.

2. Employees

	Period from 01.04.2024 to 31.12.2024		Year ended 31.03.2024
	Number		Number
The average number of employees during the year was	27		28

3. Intangible assets

	Computer software		Website costs		Total
	£		£		£
Cost
At 01 April 2024	23,700		2,995		26,695
At 31 December 2024	23,700		2,995		26,695
Accumulated amortisation
At 01 April 2024	17,992		499		18,491
Charge for the financial period	5,042		449		5,491
At 31 December 2024	23,034		948		23,982
Net book value
At 31 December 2024	666		2,047		2,713
At 31 March 2024	5,708		2,496		8,204

4. Tangible assets

	Fixtures and fittings		Computer equipment		Total
	£		£		£
Cost
At 01 April 2024	15,309		75,466		90,775
Additions	0		11,306		11,306
At 31 December 2024	15,309		86,772		102,081
Accumulated depreciation
At 01 April 2024	7,797		53,214		61,011
Charge for the financial period	1,975		10,200		12,175
At 31 December 2024	9,772		63,414		73,186
Net book value
At 31 December 2024	5,537		23,358		28,895
At 31 March 2024	7,512		22,252		29,764

5. Debtors

	31.12.2024		31.03.2024
	£		£
Amounts owed by Parent undertakings	308,906		39,770
Other debtors	244,562		189,480
	553,468		229,250

6. Creditors: amounts falling due within one year

	31.12.2024		31.03.2024
	£		£
Trade creditors	20,814		50,512
Other taxation and social security	30,321		75,075
Other creditors	176,425		88,710
	227,560		214,297

7. Called-up share capital

	31.12.2024		31.03.2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Related party transactions

During the year Silverfin Software Ltd invoiced Silverfin NV management charges of £3,212,271 (31 March 2024 - £5,469,328).

At the balance sheet date Silverfin NV owed Silverfin Software Ltd £308,906 (31 March 2024 - £39,770).

Interest has been charged on the intercompany balance.

During the period, In Good Product Company, a business represented by L D Miles, provided services to the company totalling £nil ( 31 March 2024 - £3,952)

At period end £nil ( 31 March 2024 - £nil) was owed to In Good Product Company.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

	31.12.2024		31.03.2024
	£		£
Within one year	208,836		133,230

10. OPERATING PROFIT

The operating profit is stated after charging:

	31.12.2024		31.03.2024
	£		£
Depreciation - owned assets	12,175		17,119
Computer software amortisation	5,941		8,399

11. Reserves

Retained earnings

	31.12.2024
	£
At 1 April 2024	389,642
Profit for the year	132,536
	522,178

11. Audit Opinion

Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Andrew Ewart FCA FCCA (Senior Statutory Auditor) for and on behalf of Try Lunn & Co

12. Ultimate controlling party

Parent Company:

Silverfin NV

Gaston Crommenlaan 12, 9050 Gent, Belgium.

The immediate controlling party is Silverfin NV, a company registered in Belgium., the registered address of Silverfin NV is Gaston Crommenlaan 12, 9050 Gent, Belgium.

Following the aquisition of Silverfin NV on 2 November 2023 the ultimate parent company is now Visma AS, a company registered in Norway.

There is no ultimate controlling party.