Silverfin false 31/03/2022 31/03/2022 01/04/2021 Mr A E Browne Mr S H Gregory 02 September 2022 The principal activity of the Company during the financial year was commercial property investment. The Company has not traded during this financial year. 07978576 2022-03-31 07978576 core:CurrentFinancialInstruments 2022-03-31 07978576 core:CurrentFinancialInstruments 2021-03-31 07978576 2021-03-31 07978576 core:ShareCapital 2022-03-31 07978576 core:ShareCapital 2021-03-31 07978576 core:RetainedEarningsAccumulatedLosses 2022-03-31 07978576 core:RetainedEarningsAccumulatedLosses 2021-03-31 07978576 bus:OrdinaryShareClass1 2022-03-31 07978576 2021-04-01 2022-03-31 07978576 bus:FullAccounts 2021-04-01 2022-03-31 07978576 bus:SmallEntities 2021-04-01 2022-03-31 07978576 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 07978576 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07978576 bus:Director1 2021-04-01 2022-03-31 07978576 bus:Director2 2021-04-01 2022-03-31 07978576 2020-04-01 2021-03-31 07978576 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 07978576 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07978576 (England and Wales)

M BAKER (FALMOUTH) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2022
Pages for filing with the registrar

M BAKER (FALMOUTH) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2022

Contents

M BAKER (FALMOUTH) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2022
M BAKER (FALMOUTH) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2022
Note 2022 2021
£ £
Current assets
Debtors 3 1 970,000
Cash at bank and in hand 0 8,516
1 978,516
Creditors
Amounts falling due within one year 4 0 ( 310,830)
Net current assets 1 667,686
Total assets less current liabilities 1 667,686
Net assets 1 667,686
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account 0 667,685
Total shareholder's funds 1 667,686

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of M Baker (Falmouth) Limited (registered number: 07978576) were approved and authorised for issue by the Director on 02 September 2022. They were signed on its behalf by:

Mr A E Browne
Director
M BAKER (FALMOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
M BAKER (FALMOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
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

M Baker (Falmouth) 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 (registered number: 07978576). The address of the Company's registered office is Senate Court, Southernhay Gardens, Exeter, Devon, EX1 1NT, 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.

The functional currency of M Baker (Falmouth) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Reserves - Profit and loss account

The profit and loss account represents the accumulated profits less dividends.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2022 2021
£ £
Amounts owed by Group undertakings 1 970,000

4. Creditors: amounts falling due within one year

2022 2021
£ £
Amounts owed to Group undertakings 0 310,030
Accruals 0 800
0 310,830

5. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

6. Ultimate controlling party

The directors consider that the ultimate parent undertaking of this company is its parent company, M Baker (Holdings) Limited, a company incorporated in Great Britain.