Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Andrew Edward Browne 26/10/2015 Simon Hugh Gregory 26/10/2015 16 October 2024 The principal activity of the Company during the financial year was commercial property investment. 09840160 2024-03-31 09840160 bus:Director1 2024-03-31 09840160 bus:Director2 2024-03-31 09840160 2023-03-31 09840160 core:CurrentFinancialInstruments 2024-03-31 09840160 core:CurrentFinancialInstruments 2023-03-31 09840160 core:ShareCapital 2024-03-31 09840160 core:ShareCapital 2023-03-31 09840160 core:RetainedEarningsAccumulatedLosses 2024-03-31 09840160 core:RetainedEarningsAccumulatedLosses 2023-03-31 09840160 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 09840160 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 09840160 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-03-31 09840160 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-03-31 09840160 bus:OrdinaryShareClass1 2024-03-31 09840160 2023-04-01 2024-03-31 09840160 bus:FilletedAccounts 2023-04-01 2024-03-31 09840160 bus:SmallEntities 2023-04-01 2024-03-31 09840160 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09840160 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09840160 bus:Director1 2023-04-01 2024-03-31 09840160 bus:Director2 2023-04-01 2024-03-31 09840160 2022-04-01 2023-03-31 09840160 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 09840160 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09840160 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09840160 (England and Wales)

M BAKER (ROCHE) LIMITED

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

M BAKER (ROCHE) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

M BAKER (ROCHE) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
M BAKER (ROCHE) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 5,661,939 5,661,939
5,661,939 5,661,939
Current assets
Debtors 4 1,129,747 1,150,758
Cash at bank and in hand 810,930 246,264
1,940,677 1,397,022
Creditors: amounts falling due within one year 5 ( 7,522,471) ( 7,271,230)
Net current liabilities (5,581,794) (5,874,208)
Total assets less current liabilities 80,145 (212,269)
Net assets/(liabilities) 80,145 ( 212,269)
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 80,144 ( 212,270 )
Total shareholder's funds/(deficit) 80,145 ( 212,269)

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 (Roche) Limited (registered number: 09840160) were approved and authorised for issue by the Board of Directors on 16 October 2024. They were signed on its behalf by:

Andrew Edward Browne
Director
M BAKER (ROCHE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
M BAKER (ROCHE) 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 (Roche) 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: 09840160). 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 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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.

Reserves - Profit and loss account

General
The profit and loss account represents the accumulated profits less dividends.

Non distributable
The profit and loss account - non distributable represents the accumulated difference between the cost and valuations of the investment property held by the company less deferred tax.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 5,661,939
As at 31 March 2024 5,661,939

Assumptions

The 2024 valuations were made by the directors, on an open market value for existing use basis.

4. Debtors

2024 2023
£ £
Trade debtors 133,110 154,459
Amounts owed by Parent undertakings 984,520 984,520
Prepayments 12,117 11,523
VAT recoverable 0 256
1,129,747 1,150,758

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 1,536
Amounts owed to Group undertakings 2,139,965 2,139,965
Amounts owed to fellow subsidiaries 5,086,522 4,922,647
Accruals and deferred income 235,194 146,495
Corporation tax 40,500 35,624
Other taxation and social security 20,290 24,963
7,522,471 7,271,230

The loans are secured by fixed charges over the Company's investment property and floating charge over the assets of the Company.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

The Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned entities within the group.