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Company No: 00474549 (England and Wales)

MINERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

MINERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

MINERS LIMITED

BALANCE SHEET

As at 31 March 2025
MINERS LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Investment property 3 450,000 450,000
450,000 450,000
Current assets
Debtors 4 901 4,486
Cash at bank and in hand 50,169 54,003
51,070 58,489
Creditors: amounts falling due within one year 5 ( 15,324) ( 16,172)
Net current assets 35,746 42,317
Total assets less current liabilities 485,746 492,317
Provision for liabilities ( 13,597) ( 13,597)
Net assets 472,149 478,720
Capital and reserves
Called-up share capital 6 18,000 18,000
Revaluation reserve 422,042 425,305
Profit and loss account 32,107 35,415
Total shareholders' funds 472,149 478,720

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Miners Limited (registered number: 00474549) were approved and authorised for issue by the Board of Directors on 06 May 2025. They were signed on its behalf by:

P J Mason
Director
MINERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
MINERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
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

Miners 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 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.

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.

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:

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.

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.

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

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 4

3. Investment property

Investment property
£
Valuation
As at 01 April 2024 450,000
As at 31 March 2025 450,000

There has been no valuation of investment property by an independent valuer. The property was valued by the Directors at the Balance Sheet date.

4. Debtors

2025 2024
£ £
Trade debtors 1 4,486
Other debtors 900 0
901 4,486

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 8,510 8,510
Taxation and social security 5,088 6,304
Other creditors 1,726 1,358
15,324 16,172

6. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
18,000 Ordinary shares of £ 1.00 each 18,000 18,000