Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr A E Browne 06/03/2013 Mr S H Gregory 01/08/2012 16 October 2024 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 2024-03-31 01310725 bus:Director1 2024-03-31 01310725 bus:Director2 2024-03-31 01310725 2023-03-31 01310725 core:CurrentFinancialInstruments 2024-03-31 01310725 core:CurrentFinancialInstruments 2023-03-31 01310725 core:ShareCapital 2024-03-31 01310725 core:ShareCapital 2023-03-31 01310725 core:CapitalRedemptionReserve 2024-03-31 01310725 core:CapitalRedemptionReserve 2023-03-31 01310725 core:RetainedEarningsAccumulatedLosses 2024-03-31 01310725 core:RetainedEarningsAccumulatedLosses 2023-03-31 01310725 core:CostValuation 2023-03-31 01310725 core:CostValuation 2024-03-31 01310725 core:AdditionsToInvestments 2024-03-31 01310725 core:DisposalsRepaymentsInvestments 2024-03-31 01310725 core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 01310725 core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments 2024-03-31 01310725 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-03-31 01310725 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-03-31 01310725 bus:OrdinaryShareClass1 2024-03-31 01310725 bus:OrdinaryShareClass2 2024-03-31 01310725 bus:PreferenceShareClass1 2024-03-31 01310725 2023-04-01 2024-03-31 01310725 bus:FilletedAccounts 2023-04-01 2024-03-31 01310725 bus:SmallEntities 2023-04-01 2024-03-31 01310725 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01310725 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01310725 bus:Director1 2023-04-01 2024-03-31 01310725 bus:Director2 2023-04-01 2024-03-31 01310725 2022-04-01 2023-03-31 01310725 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 01310725 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01310725 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 01310725 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 01310725 bus:PreferenceShareClass1 2023-04-01 2024-03-31 01310725 bus:PreferenceShareClass1 2022-04-01 2023-03-31 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 2024
Pages for filing with the registrar

M BAKER (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

M BAKER (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
M BAKER (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 9,380,768 9,121,617
9,380,768 9,121,617
Current assets
Debtors 4 1,177,011 1,177,011
1,177,011 1,177,011
Creditors: amounts falling due within one year 5 ( 3,777,006) ( 3,744,641)
Net current liabilities (2,599,995) (2,567,630)
Total assets less current liabilities 6,780,773 6,553,987
Net assets 6,780,773 6,553,987
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 1,232,773 1,005,987
Total shareholders' funds 6,780,773 6,553,987

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 M Baker (Holdings) Limited (registered number: 01310725) were approved and authorised for issue by the Board of Directors on 16 October 2024. 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 2024
M BAKER (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

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 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, 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 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.

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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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

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

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 April 2023 5,538,105
At 31 March 2024 5,538,105
Carrying value at 31 March 2024 5,538,105
Carrying value at 31 March 2023 5,538,105

Listed investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 3,583,512 3,583,512
Additions 1,504,699 1,504,699
Disposals ( 1,257,315) ( 1,257,315)
Movement in fair value 208,133 208,133
Change in value of loans receivable ( 196,366) ( 196,366)
At 31 March 2024 3,842,663 3,842,663
Carrying value at 31 March 2024 3,842,663 3,842,663
Carrying value at 31 March 2023 3,583,512 3,583,512

4. Debtors

2024 2023
£ £
Amounts owed by own subsidiaries 1,177,011 1,177,011

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to own subsidiaries 3,770,260 3,738,125
Other taxation and social security 971 971
Other creditors 5,775 5,545
3,777,006 3,744,641

6. Called-up share capital

2024 2023
£ £
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.