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Company No: 10696221 (England and Wales)

LAURA HILL INVESTMENTS LIMITED

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

LAURA HILL INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

LAURA HILL INVESTMENTS LIMITED

BALANCE SHEET

As at 31 August 2024
LAURA HILL INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 104 141
Investment property 4 4,469,340 4,451,518
Investments 5 1 1
4,469,445 4,451,660
Current assets
Debtors 6 12,984 23,643
Investments 7 1,338,936 1,084,945
Cash at bank and in hand 119,363 78,680
1,471,283 1,187,268
Creditors: amounts falling due within one year 8 ( 249,068) ( 361,187)
Net current assets 1,222,215 826,081
Total assets less current liabilities 5,691,660 5,277,741
Provision for liabilities ( 242,464) ( 242,464)
Net assets 5,449,196 5,035,277
Capital and reserves
Called-up share capital 4 4
Fair value reserve 676,966 676,966
Profit and loss account 4,772,226 4,358,307
Total shareholders' funds 5,449,196 5,035,277

For the financial year ending 31 August 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 Laura Hill Investments Limited (registered number: 10696221) were approved and authorised for issue by the Board of Directors on 02 January 2025. They were signed on its behalf by:

C J Hill
Director
S Hill
Director
LAURA HILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
LAURA HILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Laura Hill Investments 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, 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 £.

Turnover

Turnover comprises the rental amounts due on the investment properties held in the period. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
the amount of rent can be reliably measured;
It is confirmed that the rent is due to the entity.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Plant and machinery etc. 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.

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.

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 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.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 350 350
At 31 August 2024 350 350
Accumulated depreciation
At 01 September 2023 209 209
Charge for the financial year 37 37
At 31 August 2024 246 246
Net book value
At 31 August 2024 104 104
At 31 August 2023 141 141

4. Investment property

Investment property
£
Valuation
As at 01 September 2023 4,451,518
Additions 17,822
As at 31 August 2024 4,469,340

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 1
At 31 August 2024 1
Carrying value at 31 August 2024 1
Carrying value at 31 August 2023 1

6. Debtors

2024 2023
£ £
Amounts owed by own subsidiaries 537 537
Other debtors 12,447 23,106
12,984 23,643

7. Current asset investments

2024 2023
£ £
Listed investments – at fair value 1,084,945 1,281,600
Additions 94,690 0
Disposals ( 27,408) ( 40,696)
Fair value adjustment 186,710 ( 19,521)
1,338,936 1,221,383

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,839 318
Taxation and social security 56,384 33,171
Other creditors 189,845 327,698
249,068 361,187

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Alfie George Limited 537 537

The loan is interest free and repayable on demand.