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REGISTERED NUMBER: 10171433 (England and Wales)












Balvernie Ltd

Unaudited Financial Statements

for the Year Ended 31st May 2024






Balvernie Ltd (Registered number: 10171433)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Balvernie Ltd

Company Information
for the Year Ended 31st May 2024







DIRECTORS: S H Williams
Mrs S E Williams
B H Williams





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 10171433 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Balvernie Ltd (Registered number: 10171433)

Statement of Financial Position
31st May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Investments 4 565,502 481,261

CURRENT ASSETS
Debtors 5 100,002 100,002
Cash at bank 43,348 46,906
143,350 146,908
CREDITORS
Amounts falling due within one year 6 (898,691 ) (898,937 )
NET CURRENT LIABILITIES (755,341 ) (752,029 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(189,839

)

(270,768

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (189,841 ) (270,770 )
SHAREHOLDERS' FUNDS (189,839 ) (270,768 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th January 2025 and were signed on its behalf by:





S H Williams - Director


Balvernie Ltd (Registered number: 10171433)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Balvernie Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements cover an individual entity.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fixed asset investments
Fixed asset investments consists of listed securities of individual companies, investment trusts and exchange traded funds. Fixed asset investments are measured at fair value at the statement of financial position date.

Fair value is based on the quoted market price in an active market. Fair value adjustments arising from a difference between the cost and current market price of the securities are recognised in profit or loss at the valuation date..

Balvernie Ltd (Registered number: 10171433)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts, discounted at a market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, loans from other related companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments, discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Going concern
At the year end the company had net current liabilities and net liabilities and is reliant on the continued support of the directors. These financial statements have been prepared on the going concern basis and the directors believe this is appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st June 2023 481,261
Additions 5,237
Disposals (302 )
Revaluations 79,306
At 31st May 2024 565,502
NET BOOK VALUE
At 31st May 2024 565,502
At 31st May 2023 481,261

Balvernie Ltd (Registered number: 10171433)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31st May 2024 is represented by:

Other
investments
£   
Valuation in 2021 (12,250 )
Valuation in 2022 (189,109 )
Valuation in 2023 (59,930 )
Valuation in 2024 79,306
Cost 747,485
565,502

If the listed investments had not been revalued they would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 747,485 742,550

Listed investments were valued on an open market basis on 31st May 2024 by Hargreaves Lansdown .

The profit on revaluation of listed investments of £79,306 has been recognised in the income statement.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 100,002 100,002

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 277 -
Taxation and social security 135 135
Other creditors 898,279 898,802
898,691 898,937

Included within other creditors above are the directors loan accounts totalling £896,828. There is no intention to repay these amounts within one year and will be repaid as and when cash flow allows.