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Company No: 14272105 (England and Wales)

HAVENMIST (HOLDINGS) LIMITED

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

HAVENMIST (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

HAVENMIST (HOLDINGS) LIMITED

BALANCE SHEET

As at 31 August 2024
HAVENMIST (HOLDINGS) LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 31.08.2024 31.08.2023
£ £
Fixed assets
Investments 3 2,200,100 2,200,100
2,200,100 2,200,100
Creditors: amounts falling due within one year 4 ( 451,830) ( 449,800)
Net current liabilities (451,830) (449,800)
Total assets less current liabilities 1,748,270 1,750,300
Net assets 1,748,270 1,750,300
Capital and reserves
Called-up share capital 5 1,760,100 1,760,100
Profit and loss account ( 11,830 ) ( 9,800 )
Total shareholders' funds 1,748,270 1,750,300

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Havenmist (Holdings) Limited (registered number: 14272105) were approved and authorised for issue by the Board of Directors on 28 January 2025. They were signed on its behalf by:

Mr D S Eddy
Director
HAVENMIST (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
HAVENMIST (HOLDINGS) 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 period, unless otherwise stated.

General information and basis of accounting

Havenmist (Holdings) 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 The Office, Green Parc Road, Hayle, TR27 4DQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 Balance Sheet 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. The company shows a negative profit and loss reserve at the year end due to the timing of dividends taken. This has been cleared post year end.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

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.

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.

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.

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.

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.

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.

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

Year ended
31.08.2024
Period from
02.08.2022 to
31.08.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Fixed asset investments

Investments in subsidiaries

31.08.2024
£
Cost
At 01 September 2023 2,200,100
At 31 August 2024 2,200,100
Carrying value at 31 August 2024 2,200,100
Carrying value at 31 August 2023 2,200,100

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.08.2024
Ownership
31.08.2023
Held
Havenmist Limited Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA Property letting and development Ordinary 100.00% 100.00% Direct

4. Creditors: amounts falling due within one year

31.08.2024 31.08.2023
£ £
Amounts owed to Group undertakings 1,530 0
Other creditors 450,300 449,800
451,830 449,800

5. Called-up share capital

31.08.2024 31.08.2023
£ £
Allotted, called-up and fully-paid
20 Ordinary A shares of £ 1.00 each 20 20
10 Ordinary B shares of £ 1.00 each 10 10
10 Ordinary C shares of £ 1.00 each 10 10
30 Ordinary D shares of £ 1.00 each 30 30
30 Ordinary E shares of £ 1.00 each 30 30
1,760,000 Ordinary F shares of £ 1.00 each 1,760,000 1,760,000
1,760,100 1,760,100
440,000 Preference shares of £ 1.00 each 440,000 440,000
2,200,100 2,200,100