Company No:
Contents
Note | 2024 | 2023 | ||
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Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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1,476,752 | 1,481,194 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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1,275,531 | 1,253,260 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 1,243,752 | 1,217,859 | ||
Total assets less current liabilities | 2,720,504 | 2,699,053 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Havenmist Limited (registered number:
D S Eddy
Director |
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.
Havenmist 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 Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is The Office, Green Parc Road, Hayle, Cornwall, TR27 4DQ.
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 £.
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.
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.
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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Computer equipment |
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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.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Vehicles | Fixtures and fittings | Computer equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 September 2023 |
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At 31 August 2024 |
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Accumulated depreciation | |||||||||
At 01 September 2023 |
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Charge for the financial year |
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At 31 August 2024 |
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Net book value | |||||||||
At 31 August 2024 |
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At 31 August 2023 |
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Investment property | |
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Valuation | |
As at 01 September 2023 |
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As at 31 August 2024 |
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The properties were valued on an open market basis on 31 August 2020 by the director, Mr D Eddy. The director believes this value to remain appropriate as at 31 August 2024.
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£ | £ | ||
Stocks |
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Work in progress |
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£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Amounts owed by directors |
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Prepayments |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Amounts owed to directors |
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Accruals |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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Other creditors |
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£ | £ | ||
Trade creditors |
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Bank loans (secured) |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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100 | 100 |
Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Balance outstanding brought forward | 234 | 1,410 | |
Amounts advanced | 0 | 0 | |
Amounts repaid | (1,374) | (1,176) | |
Balance outstanding carried forward | (1,140) | 234 |
No interest is charged on this loan and it is repayable on demand.
Parent Company:
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The Office, Green Parc Road, Hayle, Cornwall, United Kingdom, TR27 4DQ |