Silverfin false 31/03/2022 31/03/2022 01/04/2021 Mr A E Browne 06/03/2013 Mr S H Gregory 01/08/2012 02 September 2022 The principal activity of the Company during the financial year was administration of its subsidiary undertakings which operate as commercial property landlords and developers. During the financial year, the Company invested in a portfolio of listed investments. 01310725 2022-03-31 01310725 bus:Director1 2022-03-31 01310725 bus:Director2 2022-03-31 01310725 2021-03-31 01310725 core:CurrentFinancialInstruments 2022-03-31 01310725 core:CurrentFinancialInstruments 2021-03-31 01310725 core:ShareCapital 2022-03-31 01310725 core:ShareCapital 2021-03-31 01310725 core:CapitalRedemptionReserve 2022-03-31 01310725 core:CapitalRedemptionReserve 2021-03-31 01310725 core:RetainedEarningsAccumulatedLosses 2022-03-31 01310725 core:RetainedEarningsAccumulatedLosses 2021-03-31 01310725 core:CostValuation 2021-03-31 01310725 core:CostValuation 2022-03-31 01310725 core:AdditionsToInvestments 2022-03-31 01310725 core:DisposalsRepaymentsInvestments 2022-03-31 01310725 core:RevaluationsIncreaseDecreaseInInvestments 2022-03-31 01310725 core:ProvisionsForImpairmentInvestments 2021-03-31 01310725 core:ProvisionsForImpairmentInvestments 2022-03-31 01310725 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2022-03-31 01310725 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2021-03-31 01310725 bus:OrdinaryShareClass1 2022-03-31 01310725 bus:OrdinaryShareClass2 2022-03-31 01310725 bus:PreferenceShareClass1 2022-03-31 01310725 2021-04-01 2022-03-31 01310725 bus:FullAccounts 2021-04-01 2022-03-31 01310725 bus:SmallEntities 2021-04-01 2022-03-31 01310725 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 01310725 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 01310725 bus:Director1 2021-04-01 2022-03-31 01310725 bus:Director2 2021-04-01 2022-03-31 01310725 2020-04-01 2021-03-31 01310725 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 01310725 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 01310725 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 01310725 bus:OrdinaryShareClass2 2020-04-01 2021-03-31 01310725 bus:PreferenceShareClass1 2021-04-01 2022-03-31 01310725 bus:PreferenceShareClass1 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01310725 (England and Wales)

M BAKER (HOLDINGS) LIMITED

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

M BAKER (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2022

Contents

M BAKER (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2022
M BAKER (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2022
Note 2022 2021
£ £
Fixed assets
Investments 3 7,927,342 7,826,220
7,927,342 7,826,220
Current assets
Debtors 4 1,492,491 777,309
1,492,491 777,309
Creditors
Amounts falling due within one year 5 ( 2,723,081) ( 2,711,854)
Net current liabilities (1,230,590) (1,934,545)
Total assets less current liabilities 6,696,752 5,891,675
Net assets 6,696,752 5,891,675
Capital and reserves
Called-up share capital 6 2,808,000 2,808,000
Capital redemption reserve 2,740,000 2,740,000
Profit and loss account 1,148,752 343,675
Total shareholders' funds 6,696,752 5,891,675

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 (Holdings) Limited (registered number: 01310725) 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 (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
M BAKER (HOLDINGS) 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 (Holdings) 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: 01310725). 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 (Holdings) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Group accounts exemption

Group accounts exemption s399
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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Interest 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 at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Ordinary share capital

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

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. Fixed asset investments

2022 2021
£ £
Subsidiary undertakings 5,538,106 5,538,106
Other investments and loans 2,389,236 2,288,114
7,927,342 7,826,220

Investments in subsidiaries

2022
£
Cost
At 01 April 2021 5,538,106
At 31 March 2022 5,538,106
Carrying value at 31 March 2022 5,538,106
Carrying value at 31 March 2021 5,538,106
Listed investments Total
£ £
Carrying value before impairment
At 01 April 2021 2,288,114 2,288,114
Additions 1,320,732 1,320,732
Disposals ( 1,218,444) ( 1,218,444)
Movement in fair value ( 1,166) ( 1,166)
At 31 March 2022 2,389,236 2,389,236
Provisions for impairment
At 01 April 2021 0 0
At 31 March 2022 0 0
Carrying value at 31 March 2022 2,389,236 2,389,236
Carrying value at 31 March 2021 2,288,114 2,288,114

4. Debtors

2022 2021
£ £
Amounts owed by own subsidiaries 1,492,491 777,309

5. Creditors: amounts falling due within one year

2022 2021
£ £
Amounts owed to own subsidiaries 2,718,621 2,709,282
Accruals 4,460 2,572
2,723,081 2,711,854

6. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
6,000 Ordinary A shares of £ 1.00 each 6,000 6,000
4,000 Ordinary B shares of £ 1.00 each 4,000 4,000
10,000 10,000
2,798,000 Redeemable Preference shares of £ 1.00 each 2,798,000 2,798,000
2,808,000 2,808,000

Income may be distributed amongst the classes of shares as recommended by the directors.

Repayments or distributions of capital (other than the redemption of shares of any class or the purchase by the Company of its own shares) will be applied firstly to the redeemable preference shares. The A and B ordinary shares are non redeemable.

The A and B ordinary shares convey the right to receive notice of, to attend and vote at all general meetings of the Company. The redeemable preference shares do not contain this right other than in respect of matters affecting the rights and privileges of the redeemable preference shares.

Redeemable preference shares are redeemable in multiples of not less than 10 redeemable preference shares upon the Company giving 10 business days' notice to the holders of the redeemable preference shares.

7. Contingencies

Contingent liabilities

2022 2021
£ £
Total indebtedness 0 3,225,000

An Unlimited Multilateral Company Guarantee has been given in favour of Lloyds Bank plc by M Baker (Property Services) Limited, M Baker (Retail) Limited, Davies Holdings (Somerton) Limited, M Baker (Holdings) Limited, M Baker (Newquay) Limited, M Baker (Falmouth) Limited and M Baker (Matford) Limited to secure all the present and future indebtedness and liabilities of M Baker (Property Services) Limited to the bank.

The loans were paid off in full in the year ended 31/03/2022.