COMPANY REGISTRATION NUMBER:
09104170
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Lend & Borrow Trust Company Limited |
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Filleted Financial Statements |
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|
Lend & Borrow Trust Company Limited |
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Statement of Financial Position |
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31 March 2025
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31 Mar 25 |
30 Sep 23 |
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Note |
£ |
£ |
£ |
|
|
|
|
Fixed assets
Current assets
|
Debtors |
6 |
2,639 |
|
18,929 |
|
Cash at bank and in hand |
35,299 |
|
28,655 |
|
-------- |
|
-------- |
|
37,938 |
|
47,584 |
|
|
|
|
|
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Creditors: amounts falling due within one year |
7 |
132,331 |
|
136,394 |
|
--------- |
|
--------- |
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Net current liabilities |
|
94,393 |
88,810 |
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|
-------- |
-------- |
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Total assets less current liabilities |
|
(
94,392) |
(
88,809) |
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|
-------- |
-------- |
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Net liabilities |
|
(
94,392) |
(
88,809) |
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|
-------- |
-------- |
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|
|
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Capital and reserves
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Called up share capital |
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1,878,606 |
1,878,606 |
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Profit and loss account |
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(
1,972,998) |
(
1,967,415) |
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|
------------ |
------------ |
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Shareholders deficit |
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(
94,392) |
(
88,809) |
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|
------------ |
------------ |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
26 September 2025
, and are signed on behalf of the board by:
Company registration number:
09104170
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Lend & Borrow Trust Company Limited |
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Notes to the Financial Statements |
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Period from 1 October 2023 to 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1A Eddystone Road, Wadebridge, Cornwall, PL27 7AL, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The current period covers 18 months from 1 October 2023 to 31 March 2025, whereas the comparative figures presented in these financial statements (including the related notes) are for the 12 months ended 30 September 2023. As a result, the amounts presented for the current period and the comparative period are not entirely comparable. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Despite net liabilities at the year end, the accounts have been prepared as a going concern, on the basis that continued funding is available from the parent company to pay debts as they fall due. In line with the current group strategy the company operates on a loss basis based on continued financial support from the parent company.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover represents fees receivable from parent and subsidiary companies for recharges of salaries and premises costs incurred during the year, with a mark-up element.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
5
(2023:
3
).
5.
Investments
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Shares in group undertakings |
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£ |
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Cost |
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At 1 October 2023 and 31 March 2025 |
1 |
|
---- |
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Impairment |
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At 1 October 2023 and 31 March 2025 |
– |
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---- |
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|
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Carrying amount |
|
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At 31 March 2025 |
1 |
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---- |
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At 30 September 2023 |
1 |
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---- |
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6.
Debtors
|
31 Mar 25 |
30 Sep 23 |
|
£ |
£ |
|
Trade debtors |
512 |
12,163 |
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Other debtors |
2,127 |
6,766 |
|
------- |
-------- |
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2,639 |
18,929 |
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------- |
-------- |
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Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
7.
Creditors:
amounts falling due within one year
|
31 Mar 25 |
30 Sep 23 |
|
£ |
£ |
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Trade creditors |
19 |
820 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
121,012 |
118,081 |
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Other creditors |
11,300 |
17,493 |
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--------- |
--------- |
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132,331 |
136,394 |
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--------- |
--------- |
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
8.
Summary audit opinion
The auditor's report dated
30 September 2025
was
unqualified
, however, the auditor drew attention to the following by way of emphasis.
In forming our opinion on the financial statements, which is not modified, we draw user's attention to the disclosure in note 3 concerning the company's ability to continue as a going concern. In line with group strategy, the company currently operates on a loss basis relying on continued financial support from the parent company. The parent company is willing to provide continued financial support to the company to ensure that the company will continue as a going concern.
The senior statutory auditor was
Lynsey Smith
, for and on behalf of
Atla Audit and Assurance Limited
.
9.
Related party transactions
At the year end the amount owed to Goldmoney Inc was £117,627. (2023 £116,907). During the period, sales were made to Goldmoney Inc of £250,430 (2023 £103,463). At the year end the amount owed to Goldmoney Vault (UK) Limited was £3,385 (2023 £1,174). This company became a wholly owned subsidiary of Lend and Borrow Trust Company Limited on 16th May 2022. During the period, sales were made to Goldmoney Vault (UK) Limited of £190,155 (2023 £127,471).
10.
Controlling party
From 21st January 2022 Goldmoney Inc became the parent company. Goldmoney Inc is a company registered in the British Virgin Islands, the registered address is Kingston Chambers, PO Box 173, Road Town, Tortola. Publicly available consolidated financial statements are drawn up by the parent company Goldmoney Inc.