Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Miss A Simmonds 23/06/2020 Miss C Simmonds 23/06/2020 Mrs C M Simmonds 01/03/2015 Mr C M Simmonds 08/03/1992 Mrs V Simmonds 08/03/1992 23 March 2025 The principal activity of the Company during the financial year was the investment of funds and the letting of its freehold properties. 00748800 2024-06-30 00748800 bus:Director1 2024-06-30 00748800 bus:Director2 2024-06-30 00748800 bus:Director3 2024-06-30 00748800 bus:Director4 2024-06-30 00748800 bus:Director5 2024-06-30 00748800 2023-06-30 00748800 core:CurrentFinancialInstruments 2024-06-30 00748800 core:CurrentFinancialInstruments 2023-06-30 00748800 core:ShareCapital 2024-06-30 00748800 core:ShareCapital 2023-06-30 00748800 core:SharePremium 2024-06-30 00748800 core:SharePremium 2023-06-30 00748800 core:FurtherSpecificReserve1ComponentTotalEquity 2024-06-30 00748800 core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-30 00748800 core:RetainedEarningsAccumulatedLosses 2024-06-30 00748800 core:RetainedEarningsAccumulatedLosses 2023-06-30 00748800 core:LandBuildings 2023-06-30 00748800 core:OfficeEquipment 2023-06-30 00748800 core:LandBuildings 2024-06-30 00748800 core:OfficeEquipment 2024-06-30 00748800 core:CostValuation 2023-06-30 00748800 core:AdditionsToInvestments 2024-06-30 00748800 core:DisposalsRepaymentsInvestments 2024-06-30 00748800 core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 00748800 core:CostValuation 2024-06-30 00748800 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-06-30 00748800 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-06-30 00748800 bus:OrdinaryShareClass1 2024-06-30 00748800 bus:OrdinaryShareClass2 2024-06-30 00748800 bus:OrdinaryShareClass3 2024-06-30 00748800 bus:OrdinaryShareClass4 2024-06-30 00748800 bus:OrdinaryShareClass5 2024-06-30 00748800 2023-07-01 2024-06-30 00748800 bus:FilletedAccounts 2023-07-01 2024-06-30 00748800 bus:SmallEntities 2023-07-01 2024-06-30 00748800 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00748800 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00748800 bus:Director1 2023-07-01 2024-06-30 00748800 bus:Director2 2023-07-01 2024-06-30 00748800 bus:Director3 2023-07-01 2024-06-30 00748800 bus:Director4 2023-07-01 2024-06-30 00748800 bus:Director5 2023-07-01 2024-06-30 00748800 core:LandBuildings core:TopRangeValue 2023-07-01 2024-06-30 00748800 core:OfficeEquipment core:TopRangeValue 2023-07-01 2024-06-30 00748800 2022-07-01 2023-06-30 00748800 core:LandBuildings 2023-07-01 2024-06-30 00748800 core:OfficeEquipment 2023-07-01 2024-06-30 00748800 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 00748800 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 00748800 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 00748800 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 00748800 bus:OrdinaryShareClass3 2023-07-01 2024-06-30 00748800 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 00748800 bus:OrdinaryShareClass4 2023-07-01 2024-06-30 00748800 bus:OrdinaryShareClass4 2022-07-01 2023-06-30 00748800 bus:OrdinaryShareClass5 2023-07-01 2024-06-30 00748800 bus:OrdinaryShareClass5 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00748800 (England and Wales)

KERRIER INVESTMENTS LIMITED

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

KERRIER INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

KERRIER INVESTMENTS LIMITED

BALANCE SHEET

As at 30 June 2024
KERRIER INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 7,729 12,284
Investment property 4 1,620,706 1,620,706
Investments 5 20,711,270 18,834,888
22,339,705 20,467,878
Current assets
Debtors 6 1,169,968 1,208,524
Cash at bank and in hand 675,250 861,444
1,845,218 2,069,968
Creditors: amounts falling due within one year 7 ( 131,942) ( 100,800)
Net current assets 1,713,276 1,969,168
Total assets less current liabilities 24,052,981 22,437,046
Provision for liabilities ( 96,781) ( 95,436)
Net assets 23,956,200 22,341,610
Capital and reserves
Called-up share capital 8 37,935 37,935
Share premium account 2,028,924 2,028,924
Fair value reserve 2,386,521 805,998
Profit and loss account 19,502,820 19,468,753
Total shareholders' funds 23,956,200 22,341,610

For the financial year ending 30 June 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 Kerrier Investments Limited (registered number: 00748800) were approved and authorised for issue by the Board of Directors on 23 March 2025. They were signed on its behalf by:

Mr C M Simmonds
Director
KERRIER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
KERRIER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

Kerrier 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 C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is West Sinns Farm, West Sinns, Redruth, Cornwall, TR16 4HP.

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 £.

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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover comprises the fair value of the consideration for rents receivable and dividends receivable from investments in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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 basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Office equipment 4 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.

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.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 July 2023 85,747 3,480 89,227
Disposals 0 ( 1,578) ( 1,578)
At 30 June 2024 85,747 1,902 87,649
Accumulated depreciation
At 01 July 2023 73,732 3,211 76,943
Charge for the financial year 4,286 269 4,555
Disposals 0 ( 1,578) ( 1,578)
At 30 June 2024 78,018 1,902 79,920
Net book value
At 30 June 2024 7,729 0 7,729
At 30 June 2023 12,015 269 12,284

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 1,620,706
As at 30 June 2024 1,620,706

There has been no valuation of investment property by an external valuer. The valuation has been carried out by the directors.

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 18,834,888 18,834,888
Additions 2,804,478 2,804,478
Disposals ( 2,556,580) ( 2,556,580)
Movement in fair value 1,628,484 1,628,484
At 30 June 2024 20,711,270 20,711,270
Carrying value at 30 June 2024 20,711,270 20,711,270
Carrying value at 30 June 2023 18,834,888 18,834,888

6. Debtors

2024 2023
£ £
Amounts owed by connected companies 954,899 952,089
Amounts owed by directors 0 35,926
Other debtors 215,069 220,509
1,169,968 1,208,524

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,709 0
Amounts owed to directors 96,769 69,530
Accruals and deferred income 29,011 28,306
Other taxation and social security 3,453 2,960
Other creditors 0 4
131,942 100,800

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
15,174 Ordinary shares of £ 1.00 each 15,174 15,174
11,780 Ordinary A shares of £ 1.00 each 11,780 11,780
3,794 Ordinary B shares of £ 1.00 each 3,794 3,794
3,794 Ordinary C shares of £ 1.00 each 3,794 3,794
3,393 Ordinary D shares of £ 1.00 each 3,393 3,393
37,935 37,935

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
As at 1 July 2023 35,926 (8,063)
Advances to director 112,815 160,846
Repayments by director (93,574) 0
Dividends voted (59,288) (116,857)
As at 30 June 2024 (4,121) 35,926

Kerrier Investments Limited operates a loan account with its directors'. The loan has no fixed date of repayment and bears interest at the rate stipulated by HMRC on any amounts exceeding £10,000.

Other related party transactions

2024 2023
£ £
As at 1 July 2023 952,089 949,893
Advances to connected company 2,809 2,196
Repayments by connected company 0 0
As at 30 June 2024 954,898 952,089

Kerrier Trading Limited is a connected company as it is under the same control as Kerrier Investments Limited. The loan owed by Kerrier Trading Limited is repayable on demand and interest free.