Company registration number 09346984 (England and Wales)
SILVERRAIL LINKON UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SILVERRAIL LINKON UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
SILVERRAIL LINKON UK LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
8
1,020
-
0
Creditors: amounts falling due within one year
9
(1,664,675)
(1,939,242)
Net current liabilities
(1,663,655)
(1,939,242)
Capital and reserves
Called up share capital
10
100
100
Share premium account
11
4,262,188
4,262,188
Other reserves
12
8,798,127
8,798,127
Profit and loss reserves
13
(14,724,070)
(14,999,657)
Total equity
(1,663,655)
(1,939,242)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 March 2026 and are signed on its behalf by:
Mr A Gowell
Director
Company Registration No. 09346984
SILVERRAIL LINKON UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

SilverRail Linkon UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Minton Place, Victoria Road, Bicester, Oxfordshire, OX26 6QB. The company does not have a trading premise.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The parent company is Silverrail Technologies, Inc. a company registered in the United States of America. The registered office is 4 th Floor, 90 Canal Street, Boston, Massachusetts, 02114, USA.

1.2
Going concern

With the disposal of SilverRail Technologies AB on 1 January 2023, the Group ceased trading as of this date. Consequently, the financial statements have been prepared on a basis other than going concern. The directors intend to dissolve the company in the future.true

1.3
Other 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 and the effective interest rate applicable.

1.4
Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
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. When applicable b ank overdrafts are shown within borrowings in current liabilities.

SILVERRAIL LINKON UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

SILVERRAIL LINKON UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

SILVERRAIL LINKON UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of investments

Impairment of investments has been assessed based on the recoverable amounts in the company's non-trading and only subsidiary.

Impairment of debtors

Impairment of debtors has been assessed based on the recoverable amounts.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
4
Directors' remuneration

The directors of Silverrail Linkon UK Ltd who served during the year, were also the directors or officers of a number of other group companies. As such, directors' services to the company are incidental to duties as directors and officers of those other group companies. Therefore, there is no remuneration to be disclosed for the directors for the current or prior year.

5
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2024
2023
Notes
£
£
In respect of:
Amounts owed from group companies
13
(36,004)
6,881,317
Investments in subsidiaries
6
-
9,453,864
Recognised in:
Administrative expenses
(36,004)
16,335,181
SILVERRAIL LINKON UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Fixed asset investments
2024
2023
£
£
Investments in subsidiaries
-
-
-
0
-
0
7
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Silverrail Linkon AB
Klarabergsviadukten 90B, 11164 Stockholm, Sweden
Non-trading entity
Ordinary
100.00
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,020
-
0

At the prior reporting date £9,453,864 resulting from amounts due from group undertakings was impaired on the basis that it was considered irrecoverable. £36,004 has subsequently reversed in the current period.

9
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,020
-
0
Amounts owed to group undertakings
1,654,074
1,890,223
Other creditors
9,581
49,019
1,664,675
1,939,242

Amounts due to group undertakings are unsecured and repayable on demand.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
SILVERRAIL LINKON UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
11
Share premium account
2024
2023
£
£
At the beginning and end of the year
4,262,188
4,262,188

Share premium represents the premium arising on issue of equity shares, net of issue costs.

12
Equity reserves
£
At the beginning of the prior year
8,798,127
At the end of the prior year
8,798,127
At the end of the current year
8,798,127

The equity reserve represents contributions awarded to the company from its parent and former ultimate parent.

13
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
(14,999,657)
1,052,659
Profit/(loss) for the year
275,587
(16,052,316)
At the end of the year
(14,724,070)
(14,999,657)
14
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Sarah Flint BSc FCA
Statutory Auditor:
Benee Consulting Limited
15
Related party transactions

The true company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the parent company or any wholly owned subsidiary undertaking of the group.

SILVERRAIL LINKON UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
16
Parent company

The parent company is SilverRail Technologies, Inc. a company incorporated in the U.S.A, by virtue of their 100% shareholding.

The ultimate controlling party is A Gowell and C J ones, by virtue of their majority ownership of SilverRail Technologies, Inc.

2024-12-31 2024-01-01 false false false 09 March 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr A Gowell Miss C R Thompson Mr C Jones 09346984 2024-01-01 2024-12-31 09346984 2024-12-31 09346984 2023-12-31 09346984 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09346984 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09346984 core:CurrentFinancialInstruments 2024-12-31 09346984 core:CurrentFinancialInstruments 2023-12-31 09346984 core:ShareCapital 2024-12-31 09346984 core:ShareCapital 2023-12-31 09346984 core:SharePremium 2024-12-31 09346984 core:SharePremium 2023-12-31 09346984 core:OtherMiscellaneousReserve 2024-12-31 09346984 core:OtherMiscellaneousReserve 2023-12-31 09346984 core:RetainedEarningsAccumulatedLosses 2024-12-31 09346984 core:RetainedEarningsAccumulatedLosses 2023-12-31 09346984 core:ShareCapitalOrdinaryShareClass1 2024-12-31 09346984 core:ShareCapitalOrdinaryShareClass1 2023-12-31 09346984 core:RetainedEarningsAccumulatedLosses 2023-12-31 09346984 core:RetainedEarningsAccumulatedLosses 2022-12-31 09346984 bus:Director1 2024-01-01 2024-12-31 09346984 2023-01-01 2023-12-31 09346984 core:Non-currentFinancialInstruments 2024-12-31 09346984 core:Non-currentFinancialInstruments 2023-12-31 09346984 core:Subsidiary1 2024-01-01 2024-12-31 09346984 core:Subsidiary1 1 2024-01-01 2024-12-31 09346984 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 09346984 bus:OrdinaryShareClass1 2024-12-31 09346984 bus:OrdinaryShareClass1 2023-12-31 09346984 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09346984 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09346984 bus:FRS102 2024-01-01 2024-12-31 09346984 bus:Audited 2024-01-01 2024-12-31 09346984 bus:Director2 2024-01-01 2024-12-31 09346984 bus:Director3 2024-01-01 2024-12-31 09346984 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP