REGISTERED NUMBER: 00135063 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SILVA AND COSENS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R A D Symington

P D Symington

J A D Symington

SECRETARY:

P N Hall

REGISTERED OFFICE:

59-60 Russell Square

London

WC1B 4HP

REGISTERED NUMBER:

00135063 (England and Wales)

AUDITORS:

Hartley Fowler LLP

Statutory Auditors

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Intangible assets

5

-

415

CURRENT ASSETS

Debtors

6

172,037

179,238

Cash at bank

475,908

376,757

647,945

555,995

CREDITORS

Amounts falling due within one year

7

26,704

44,894

NET CURRENT ASSETS

621,241

511,101

TOTAL ASSETS LESS CURRENT LIABILITIES

621,241

511,516

CAPITAL AND RESERVES

Called up share capital

8

74,376

74,376

Capital redemption reserve

9

18,594

18,594

Foreign currency translation

reserve

9

81,001

53,423

Retained earnings

9

447,270

365,123

SHAREHOLDERS' FUNDS

621,241

511,516

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2026 and were signed on its behalf by:

R A D Symington - Director

1.	STATUTORY INFORMATION

Silva and Cosens Limited 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Functional and presentation currency

The Company's functional currency is in Euros and these financial statements are presented in Pound Sterling (£) as the currency related to the company's country of incorporation.

Going Concern

The directors have considered the financial position of the company and have a reasonable expectation that the Company has adequate resources to meet its liabilities as they fall due and continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared to continue to adopt the going concern basis.

Turnover

Turnover should only include revenues arising from the company's ordinary activities. Royalties receivable from the use of its trademarks is the Company's main activity. Royalty income is accounted for on an accrual basis.

Intangible assets - intellectual property

Intangible assets are stated at cost less accumulated amortization and accumulated impairment losses.

Amortisation is calculated using the straight-line method to allocate the depreciable amount of the assets totheir residual values over their estimated useful lives. Intangible assets are reviewed for impairment annually.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

a) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognized at transaction prices. Such assets are subsequently carried at amortized cost using the effective interest method.

At the end of each reporting period financial assets measured at amortized cost are assessed for objective evidence of impairment. 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 recognized in the statement of comprehensive income.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognized, 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 recognized.

The impairment reversal is recognized in the Statement of Comprehensive Income.

Financial assets are de-recognized when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(b) Financial liabilities

Basic financial liabilities, including trade and other payables and other creditors are initially recognized at the transaction price. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Financial liabilities, which include accounts 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 payables are recognized initially at transaction price and subsequently measured at amortized cost using the effective interest method.

Financial liabilities are de-recognized when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

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.

Foreign currencies

The functional currency of the Company is the Euro. Transactions in foreign currencies are recorded at the rate ruling on the date of the transaction. Monetary assets and liabilities requiring settlement in foreign currencies are expressed in sterling, the presentation currency, at the rates ruling at the date of the Statement of Financial Position. All differences are recognized in the Statement of Comprehensive Income.

The exchange rate at the date of the Statement of Financial Position was Eur.1.14784 = £1 (2024: Eur 1.20555= £1).

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with original maturities of three months or less and bank overdrafts only where they are repayable on demand.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

4,148

Exchange differences

208

At 31 December 2025

4,356

AMORTISATION

At 1 January 2025

3,733

Charge for year

426

Exchange differences

197

At 31 December 2025

4,356

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

415

These intangible assets concern to intellectual property acquired with the investment in Symington Family Estates, Vinhos, S.A.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

3,022

2,877

Tax

21,844

20,300

VAT

555

1,254

Accrued income

146,616

154,807

172,037

179,238

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,554

15,857

Amounts owed to group undertakings

8,865

12,608

Other creditors

14,285

16,429

26,704

44,894

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

297,505

Ordinary shares

25p

74,376

74,376

All the shares are entitled to one vote and have equal rights to dividends.

9.

RESERVES

Foreign

Capital

currency

Retained

redemption

translation

earnings

reserve

reserve

Totals

£

£

£

£

At 1 January 2025

365,123

18,594

53,423

437,140

Profit for the year

82,147

82,147

Foreign exchange translation

-

-

27,578

27,578

At 31 December 2025

447,270

18,594

81,001

546,865

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Askew FCA (Senior Statutory Auditor)

for and on behalf of Hartley Fowler LLP

11.	RELATED PARTY DISCLOSURES

During the year the company entered into transactions with related parties with respect to:

- Royalties received from Symington Family Estates, Vinhos, S.A amounting to £142,259 (2024: £153,013).

The amounts receivable from Symington Family Estates, Vinhos, S.A. amounted to £135,710 (2024: £138,560) at the year end.

P D Symington, R A D Symington and J A D Symington are also directors of Symington Family Estates, Vinhos, S.A., a company incorporated in Portugal, therefore Symington Family Estates, Vinhos, S.A. is a related party by means of common control.

(b) Key management personnel

All directors and certain senior employees who have authority and responsibility for planning, directing and controlling the activities of the company are considered to be key management personnel. The total remuneration for the year ended 31 December 2025 in respect of these individuals which were born by other entities within the SHL, S.A. (previously named Scops Holding Limited) group and charged to the company as administration costs were £ 2,178 (2024: £ 1,659).

(c) Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The company's immediate parent undertaking is W.& J. Graham & Cª., S.A., a limited liability company incorporated in Rua do Rei Ramiro, 514, 4400-281 Vila Nova de Gaia, Portugal.

On 31 December 2025, the ultimate parent undertaking for which group financial statements are prepared and of which the company is a member is SHL, S.A. (previously named Scops Holdings Limited), a company with registered Office at Travessa Barão de Forrester, 86, 4400-034 Vila Nova de Gaia, Portugal. SHL, S.A. is controlled by the trustees of certain family trusts amongst whose beneficiaries include the directors.