Silverfin false false 31/12/2024 01/01/2024 31/12/2024 J M Boyne 11/07/2017 G S Throup 29/06/2020 M R Throup 11/07/2017 S A Throup 11/07/2017 31 March 2025 The principal activity of the Company during the financial year was that of a holding company. 10861327 2024-12-31 10861327 bus:Director1 2024-12-31 10861327 bus:Director2 2024-12-31 10861327 bus:Director3 2024-12-31 10861327 bus:Director4 2024-12-31 10861327 2023-12-31 10861327 core:CurrentFinancialInstruments 2024-12-31 10861327 core:CurrentFinancialInstruments 2023-12-31 10861327 core:Non-currentFinancialInstruments 2024-12-31 10861327 core:Non-currentFinancialInstruments 2023-12-31 10861327 core:ShareCapital 2024-12-31 10861327 core:ShareCapital 2023-12-31 10861327 core:RevaluationReserve 2024-12-31 10861327 core:RevaluationReserve 2023-12-31 10861327 core:RetainedEarningsAccumulatedLosses 2024-12-31 10861327 core:RetainedEarningsAccumulatedLosses 2023-12-31 10861327 core:PlantMachinery 2023-12-31 10861327 core:Vehicles 2023-12-31 10861327 core:PlantMachinery 2024-12-31 10861327 core:Vehicles 2024-12-31 10861327 core:CostValuation 2023-12-31 10861327 core:CostValuation 2024-12-31 10861327 core:MoreThanFiveYears 2024-12-31 10861327 core:MoreThanFiveYears 2023-12-31 10861327 2024-01-01 2024-12-31 10861327 bus:FilletedAccounts 2024-01-01 2024-12-31 10861327 bus:SmallEntities 2024-01-01 2024-12-31 10861327 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10861327 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10861327 bus:Director1 2024-01-01 2024-12-31 10861327 bus:Director2 2024-01-01 2024-12-31 10861327 bus:Director3 2024-01-01 2024-12-31 10861327 bus:Director4 2024-01-01 2024-12-31 10861327 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 10861327 core:Vehicles core:TopRangeValue 2024-01-01 2024-12-31 10861327 2023-01-01 2023-12-31 10861327 core:PlantMachinery 2024-01-01 2024-12-31 10861327 core:Vehicles 2024-01-01 2024-12-31 10861327 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 10861327 (England and Wales)

COKER HOLDINGS LIMITED

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

COKER HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

COKER HOLDINGS LIMITED

BALANCE SHEET

As at 31 December 2024
COKER HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 96,532 178,891
Investment property 4 3,406,756 3,406,756
Investments 5 1,000 1,000
3,504,288 3,586,647
Current assets
Debtors 6 84,738 2,441
Cash at bank and in hand 57,385 38,642
142,123 41,083
Creditors: amounts falling due within one year 7 ( 222,115) ( 545,599)
Net current liabilities (79,992) (504,516)
Total assets less current liabilities 3,424,296 3,082,131
Creditors: amounts falling due after more than one year 8 ( 1,567,421) ( 1,383,862)
Provision for liabilities ( 284,002) ( 303,888)
Net assets 1,572,873 1,394,381
Capital and reserves
Called-up share capital 2,000 2,000
Revaluation reserve 524,012 524,012
Profit and loss account 1,046,861 868,369
Total shareholders' funds 1,572,873 1,394,381

For the financial year ending 31 December 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 Coker Holdings Limited (registered number: 10861327) were approved and authorised for issue by the Board of Directors on 31 March 2025. They were signed on its behalf by:

J M Boyne
Director
COKER HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
COKER HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Coker 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 Coker Close, Heathfield, Taunton, TA2 8GR, United Kingdom.

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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 5 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Loans and borrowings
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 Account 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.
Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.

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.

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

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 January 2024 385,000 26,795 411,795
At 31 December 2024 385,000 26,795 411,795
Accumulated depreciation
At 01 January 2024 218,167 14,737 232,904
Charge for the financial year 77,000 5,359 82,359
At 31 December 2024 295,167 20,096 315,263
Net book value
At 31 December 2024 89,833 6,699 96,532
At 31 December 2023 166,833 12,058 178,891

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 3,406,756
As at 31 December 2024 3,406,756

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £3,406,756 (2023 - £3,406,756).

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 2,708,073 2,708,073

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 1,000
At 31 December 2024 1,000
Carrying value at 31 December 2024 1,000
Carrying value at 31 December 2023 1,000

6. Debtors

2024 2023
£ £
Trade debtors 3,073 1,210
Amounts owed by Group undertakings 74,433 0
Other debtors 7,232 1,231
84,738 2,441

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 46,000 46,000
Trade creditors 414 448
Other taxation and social security 3,663 3,366
Obligations under finance leases and hire purchase contracts 51,333 51,333
Other creditors 120,705 444,452
222,115 545,599

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

2024 2023
£ £
Bank loans (secured) 1,163,490 1,209,995
Amounts owed to Group undertakings 0 58,367
Obligations under finance leases and hire purchase contracts (secured) 64,167 115,500
Other creditors 339,764 0
1,567,421 1,383,862

Bank loans include bank loans and overdrafts which are secured of £1,209,490 (2023 - £1,255,995).

Finance lease liabilities are secured against plant and machinery with a carrying value of £89,833 (2023 - £166,833). The finance lease liabilities are secured on the assets to which they relate.

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

2024 2023
£ £
Bank loans (repayable by instalments) 979,490 1,025,995