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Company No: 09861865 (England and Wales)

GOLDENEYE ESTATE HOLDING LIMITED

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

GOLDENEYE ESTATE HOLDING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

GOLDENEYE ESTATE HOLDING LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
GOLDENEYE ESTATE HOLDING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Edward John Leigh
REGISTERED OFFICE Gascoyne House Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
IP28 6JY
United Kingdom
BUSINESS ADDRESS Hawkins Farm
Pebmarsh
Halstead
Essex
CO9 2NZ
COMPANY NUMBER 09861865 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
GOLDENEYE ESTATE HOLDING LIMITED

BALANCE SHEET

As at 31 March 2024
GOLDENEYE ESTATE HOLDING LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,190,132 3,056,842
3,190,132 3,056,842
Current assets
Debtors 4 26,754 6,283
Cash at bank and in hand 6,205 10,945
32,959 17,228
Creditors: amounts falling due within one year 5 ( 274,056) ( 281,726)
Net current liabilities (241,097) (264,498)
Total assets less current liabilities 2,949,035 2,792,344
Creditors: amounts falling due after more than one year 6 ( 2,082,315) ( 2,063,693)
Provision for liabilities 7 ( 190,510) ( 156,760)
Net assets 676,210 571,891
Capital and reserves
Called-up share capital 8 105 105
Revaluation reserve 618,577 517,327
Profit and loss account 57,528 54,459
Total shareholder's funds 676,210 571,891

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.

Director's responsibilities:

The financial statements of Goldeneye Estate Holding Limited (registered number: 09861865) were approved and authorised for issue by the Director on 01 October 2024. They were signed on its behalf by:

Edward John Leigh
Director
GOLDENEYE ESTATE HOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
GOLDENEYE ESTATE HOLDING 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

Goldeneye Estate Holding 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 Gascoyne House Moseleys Farm Business Centre, Fornham All Saints, Bury St Edmunds, IP28 6JY, United Kingdom. The principal place of business is Hawkins Farm, Pebmarsh, Halstead, Essex, CO9 2NZ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 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.

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 or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 25 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

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 Statement of Comprehensive Income as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 the director 1 1

3. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 April 2023 3,050,000 8,028 3,058,028
Revaluations 135,000 0 135,000
At 31 March 2024 3,185,000 8,028 3,193,028
Accumulated depreciation
At 01 April 2023 0 1,186 1,186
Charge for the financial year 0 1,710 1,710
At 31 March 2024 0 2,896 2,896
Net book value
At 31 March 2024 3,185,000 5,132 3,190,132
At 31 March 2023 3,050,000 6,842 3,056,842

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 698 180
Amounts owed by director 24,555 4,602
Other debtors 1,501 1,501
26,754 6,283

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 29,437 29,432
Trade creditors 1,440 0
Amounts owed to related parties 229,378 234,068
Accruals 3,427 2,945
Corporation tax 4,791 5,241
Other creditors 5,583 10,040
274,056 281,726

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 1,879,815 1,861,193
Other loans 202,500 202,500
2,082,315 2,063,693

Paratus Amc Limited and Paragon Bank Plc have 11 charges registered over the company's freehold properties. The secured creditors amount to £1,909,252 ( 2023 - £1,890,625).

7. Provision for liabilities

2024 2023
£ £
Deferred tax 190,510 156,760

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
105 Ordinary shares of £ 1.00 each 105 105

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Included within debtors is a director's overdrawn loan account. Interest at 2.25% has been charged on the overdrawn loan account. The overdrawn loan account will be repaid in full before 31 December 2024. (24,555) (4,602)

Other related party transactions

2024 2023
£ £
Mr E J Leigh, the company director, is also a director of Azure Luxury Hotel Collection Limited. During the year ended 31 March 2024 the company repaid in full the monies loaned from Azure Luxury Hotel Collection Limited. This loan is interest free and there are no terms of repayment. 0 234,068
Mr E J Leigh, the company director, is a trustee of The G I & E J Leigh Settlement Trust. There is a balance owing to The Trust for monies loaned to provide working capital to finance the purchase of the company's freehold properties. This loan is interest free and there are no terms of repayment. 202,500 202,500
Mr E J Leigh, the company director, is also a director of ALHC (Holdings) Limited. During the year ended 31 March 2024 ALHC ( Holdings) Limited invested monies in Goldeneye Estate Holding Limited. 229,378 0