Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Kerry Ann Fine 23/12/2013 Raymond Philip Ronald Fine 23/12/2013 04 October 2024 The principal activity of the Company during the financial year was that of commercial letting. 08824989 2023-12-31 08824989 bus:Director1 2023-12-31 08824989 bus:Director2 2023-12-31 08824989 2022-12-31 08824989 core:CurrentFinancialInstruments 2023-12-31 08824989 core:CurrentFinancialInstruments 2022-12-31 08824989 core:ShareCapital 2023-12-31 08824989 core:ShareCapital 2022-12-31 08824989 core:RetainedEarningsAccumulatedLosses 2023-12-31 08824989 core:RetainedEarningsAccumulatedLosses 2022-12-31 08824989 core:ComputerEquipment 2022-12-31 08824989 core:ComputerEquipment 2023-12-31 08824989 core:CostValuation 2022-12-31 08824989 core:CostValuation 2023-12-31 08824989 core:CurrentFinancialInstruments core:Secured 2023-12-31 08824989 bus:OrdinaryShareClass1 2023-12-31 08824989 bus:OrdinaryShareClass2 2023-12-31 08824989 bus:PreferenceShareClass1 2023-12-31 08824989 2023-01-01 2023-12-31 08824989 bus:FilletedAccounts 2023-01-01 2023-12-31 08824989 bus:SmallEntities 2023-01-01 2023-12-31 08824989 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08824989 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08824989 bus:Director1 2023-01-01 2023-12-31 08824989 bus:Director2 2023-01-01 2023-12-31 08824989 core:ComputerEquipment core:TopRangeValue 2023-01-01 2023-12-31 08824989 2022-01-01 2022-12-31 08824989 core:ComputerEquipment 2023-01-01 2023-12-31 08824989 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 08824989 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08824989 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 08824989 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 08824989 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 08824989 bus:PreferenceShareClass1 2023-01-01 2023-12-31 08824989 bus:PreferenceShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08824989 (England and Wales)

HAYDN FINE LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

HAYDN FINE LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

HAYDN FINE LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
HAYDN FINE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investment property 4 4,174,656 4,174,656
Investments 5 105,045 105,045
4,279,701 4,279,701
Current assets
Debtors 6 90,931 0
90,931 0
Creditors: amounts falling due within one year 7 ( 2,399,748) ( 1,911,439)
Net current liabilities (2,308,817) (1,911,439)
Total assets less current liabilities 1,970,884 2,368,262
Net assets 1,970,884 2,368,262
Capital and reserves
Called-up share capital 8 1,801,000 1,801,000
Profit and loss account 169,884 567,262
Total shareholders' funds 1,970,884 2,368,262

For the financial year ending 31 December 2023 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 Haydn Fine Ltd (registered number: 08824989) were approved and authorised for issue by the Board of Directors on 04 October 2024. They were signed on its behalf by:

Raymond Philip Ronald Fine
Director
HAYDN FINE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
HAYDN FINE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
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

Haydn Fine Ltd (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 2nd Floor Stratus House, Emperor Way, Exeter, EX1 3QS, United Kingdom. The principal place of business is Spronketts, Spronketts Lane, Warninglid, Haywards Heath, West Sussex, RH17 5SA. The registered number of the company is 08824989.

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 directors have assessed the Statement of Financial Position 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 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 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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties 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:

Computer equipment 4 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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Investment property

Investment property are 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.

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the
period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

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.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2023 3,415 3,415
Disposals ( 3,415) ( 3,415)
At 31 December 2023 0 0
Accumulated depreciation
At 01 January 2023 3,415 3,415
Disposals ( 3,415) ( 3,415)
At 31 December 2023 0 0
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 4,174,656
As at 31 December 2023 4,174,656

The 2023 valuations were made by Mr R P R Fine, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 4,174,656 4,174,656

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 105,045 105,045
At 31 December 2023 105,045 105,045
Carrying value at 31 December 2023 105,045 105,045
Carrying value at 31 December 2022 105,045 105,045

6. Debtors

2023 2022
£ £
Trade debtors 19,027 0
Prepayments 70,636 0
VAT recoverable 1,268 0
90,931 0

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts (secured £ 1,436,322) 1,436,332 1,297,891
Trade creditors 142,029 0
Amounts owed to directors 660,759 456,759
Accruals and deferred income 9,317 2,650
Other taxation and social security 0 2,828
Other creditors 151,311 151,311
2,399,748 1,911,439

The bank loan and overdraft are secured by way of a fixed and floating charge over the assets of the company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
250 Ordinary 1 shares of £ 1.00 each 250 250
750 Ordinary A shares of £ 1.00 each 750 750
1,000 1,000
1,800,000 Redeemable preference shares of £ 1.00 each 1,800,000 1,800,000
1,801,000 1,801,000

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Amounts owed to shareholders 151,311 151,311

The above amount relates to money owed to the shareholders. No interest is to be charged on the above amount and there are no set repayment terms.

Transactions with the entity's directors

During the year the directors maintained a current account with the company. At the year end the company owed the directors £660,759 (2022: £456,759). No interest has been charged and there are no set repayment terms.