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Company No: 05997561 (England and Wales)

CATHEDRAL VIEW HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CATHEDRAL VIEW HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CATHEDRAL VIEW HOLDINGS LIMITED

BALANCE SHEET

As at 31 March 2024
CATHEDRAL VIEW HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 580,000 614,000
Investments 4 100 100
580,100 614,100
Current assets
Debtors 5 303,016 245,403
Cash at bank and in hand 2,165,295 2,132,686
2,468,311 2,378,089
Creditors: amounts falling due within one year 6 ( 138,828) ( 108,974)
Net current assets 2,329,483 2,269,115
Total assets less current liabilities 2,909,583 2,883,215
Provision for liabilities 7, 8 ( 3,696) ( 5,840)
Net assets 2,905,887 2,877,375
Capital and reserves
Called-up share capital 9 100 100
Revaluation reserve 112,964 144,820
Profit and loss account 2,792,823 2,732,455
Total shareholders' funds 2,905,887 2,877,375

For the financial year ending 31 March 2024 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 Cathedral View Holdings Limited (registered number: 05997561) were approved and authorised for issue by the Board of Directors on 23 September 2024. They were signed on its behalf by:

Mrs E Sharp
Director
CATHEDRAL VIEW HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CATHEDRAL VIEW HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Cathedral View 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. The address of the Company's registered office is:
Trethowa
Probus
Truro
Cornwall
TR2 4JE
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 Cathedral View Holdings Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Investment property not depreciated
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is carried at fair value. The Directors assess fair value on an annual basis and use open market value as their valuation method. Changes in fair value are recognised in profit or loss.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Fixtures and fittings Total
£ £ £
Cost
At 01 April 2023 614,000 16,954 630,954
Revaluations ( 34,000) 0 ( 34,000)
At 31 March 2024 580,000 16,954 596,954
Accumulated depreciation
At 01 April 2023 0 16,954 16,954
At 31 March 2024 0 16,954 16,954
Net book value
At 31 March 2024 580,000 0 580,000
At 31 March 2023 614,000 0 614,000

The Investment properties class of fixed assets was revalued on 31 March 2024 by the Directors who are internal to the company. The basis of this valuation was open market value. The class of assets has a current value of £580,000 (2023 - £614,000) and a carrying amount at historical cost of £463,341 (2023 - £463,341). There has been no valuation of investment property by an independent valuer.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 April 2023 100
At 31 March 2024 100
Carrying value at 31 March 2024 100
Carrying value at 31 March 2023 100

5. Debtors

2024 2023
£ £
Trade debtors 795 795
Amounts owed by fellow subsidiaries 302,221 244,608
303,016 245,403

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 795 795
Taxation and social security 19,890 7,676
Other creditors 118,143 100,503
138,828 108,974

7. Provision for liabilities

2024 2023
£ £
Deferred tax 3,696 5,840

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 5,840) ( 5,840)
Credited to the Statement of Comprehensive Income 2,144 0
At the end of financial year ( 3,696) ( 5,840)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
80 Ordinary A shares of £ 1.00 each 80 80
10 Ordinary B shares of £ 1.00 each 10 10
10 Ordinary C shares of £ 1.00 each 10 10
100 100