Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Richard Bruton 26/01/2018 21 January 2025 no description of principal activity 11172031 2024-09-30 11172031 bus:Director1 2024-09-30 11172031 2023-09-30 11172031 core:CurrentFinancialInstruments 2024-09-30 11172031 core:CurrentFinancialInstruments 2023-09-30 11172031 core:Non-currentFinancialInstruments 2024-09-30 11172031 core:Non-currentFinancialInstruments 2023-09-30 11172031 core:ShareCapital 2024-09-30 11172031 core:ShareCapital 2023-09-30 11172031 core:RetainedEarningsAccumulatedLosses 2024-09-30 11172031 core:RetainedEarningsAccumulatedLosses 2023-09-30 11172031 core:LandBuildings 2023-09-30 11172031 core:OfficeEquipment 2023-09-30 11172031 core:LandBuildings 2024-09-30 11172031 core:OfficeEquipment 2024-09-30 11172031 core:CurrentFinancialInstruments core:Secured 2024-09-30 11172031 core:MoreThanFiveYears 2024-09-30 11172031 core:MoreThanFiveYears 2023-09-30 11172031 2023-10-01 2024-09-30 11172031 bus:FilletedAccounts 2023-10-01 2024-09-30 11172031 bus:SmallEntities 2023-10-01 2024-09-30 11172031 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 11172031 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11172031 bus:Director1 2023-10-01 2024-09-30 11172031 core:OfficeEquipment 2023-10-01 2024-09-30 11172031 2022-10-01 2023-09-30 11172031 core:LandBuildings 2023-10-01 2024-09-30 11172031 core:CurrentFinancialInstruments 2023-10-01 2024-09-30 11172031 core:MoreThanFiveYears 2023-10-01 2024-09-30 11172031 1 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 11172031 (England and Wales)

RUM RUNNER HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

RUM RUNNER HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RUM RUNNER HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
RUM RUNNER HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTOR Richard Bruton
REGISTERED OFFICE 42 Colebrooke Row
London
N1 8AF
United Kingdom
COMPANY NUMBER 11172031 (England and Wales)
RUM RUNNER HOLDINGS LIMITED

BALANCE SHEET

As at 30 September 2024
RUM RUNNER HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,762,317 2,761,185
2,762,317 2,761,185
Current assets
Debtors 4 8,525 3,608
Cash at bank and in hand 26,680 17,893
35,205 21,501
Creditors: amounts falling due within one year 5 ( 2,050,962) ( 1,969,474)
Net current liabilities (2,015,757) (1,947,973)
Total assets less current liabilities 746,560 813,212
Creditors: amounts falling due after more than one year 6 ( 511,848) ( 663,728)
Net assets 234,712 149,484
Capital and reserves
Called-up share capital 100 100
Profit and loss account 234,612 149,384
Total shareholders' funds 234,712 149,484

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rum Runner Holdings Limited (registered number: 11172031) were approved and authorised for issue by the Director on 21 January 2025. They were signed on its behalf by:

Richard Bruton
Director
RUM RUNNER HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RUM RUNNER HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Rum Runner Holdings Limited is a private company, limited by shares, incorporated in the England and Wales. The address of the Company's registered office is 42 Colebrooke Row, London, N1 8AF.

The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared under a going concern basis, notwithstanding the balance of £2,015,757 for net current liabilities as at 30 September 2024. It is anticipated that the company will continue to be profitable and the parent company has also confirmed that the group will continue to provide support to the company for at least a period of 12 months from the date of approval of the accounts.

Turnover

Turnover represents rental income, net of value added tax. The income is recognised in the period in which the property is rented out on an accruals basis.

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the UK, where the company operates and generates taxable income.

Under an agreement between companies within the group, the claimant company that utilises tax losses surrendered for group relief relates and is recorded as a tax credit in the claimant company.

Tangible fixed assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Land and buildings not depreciated
Office equipment 20 % reducing balance

The land and buildings are maintained to such high standards of repair that the residual value is at least equal to the book amount and have a useful economic life in excess of 50 years. Consequently, any depreciation would, in the opinion of the director, be immaterial and no depreciation has been provided. The land and building are subject to annual impairment reviews.

Depreciation is charged so as to write off the cost of the assets, other than land and properties under construction over their estimated useful lives, as above.

Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year 0 0

3. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 October 2023 2,697,633 93,503 2,791,136
Additions 0 16,630 16,630
At 30 September 2024 2,697,633 110,133 2,807,766
Accumulated depreciation
At 01 October 2023 0 29,951 29,951
Charge for the financial year 0 15,498 15,498
At 30 September 2024 0 45,449 45,449
Net book value
At 30 September 2024 2,697,633 64,684 2,762,317
At 30 September 2023 2,697,633 63,552 2,761,185

4. Debtors

2024 2023
£ £
Amounts owed by group undertakings 100 100
Other debtors 8,425 3,508
8,525 3,608

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 158,842 145,340
Amounts owed to group undertakings 1,549,857 1,492,915
Taxation and social security 130,699 118,711
Other creditors 211,564 212,508
2,050,962 1,969,474

The bank loan is secured by fixed and floating charges over the company's assets.

The variable interest loan has interest charged at 2.75% above the Bank of England Bank Rate and is repaid in monthly instalments.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 511,848 663,728

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured / repayable by instalments) 0 141,492

The bank loan is secured by fixed and floating charges over the company's assets.

The variable interest loan has interest charged at 2.75% above the Bank of England Bank Rate and is repayable by 22 June 2028.

7. Ultimate controlling party

The company's immediate and ultimate parent is Spinnaker Group Ltd, incorporated in England and Wales. The group does not prepare consolidated financial statements.