Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mr M J Harris 16/08/2021 Mr M D Pascoe 16/08/2021 Mrs D Pascoe 16/08/2021 28 May 2025 The principal activity of the company is property development. 13567111 2024-08-31 13567111 bus:Director1 2024-08-31 13567111 bus:Director2 2024-08-31 13567111 bus:Director3 2024-08-31 13567111 2023-08-31 13567111 core:CurrentFinancialInstruments 2024-08-31 13567111 core:CurrentFinancialInstruments 2023-08-31 13567111 core:ShareCapital 2024-08-31 13567111 core:ShareCapital 2023-08-31 13567111 core:RetainedEarningsAccumulatedLosses 2024-08-31 13567111 core:RetainedEarningsAccumulatedLosses 2023-08-31 13567111 core:ImmediateParent core:CurrentFinancialInstruments 2024-08-31 13567111 core:ImmediateParent core:CurrentFinancialInstruments 2023-08-31 13567111 bus:OrdinaryShareClass1 2024-08-31 13567111 2023-09-01 2024-08-31 13567111 bus:FilletedAccounts 2023-09-01 2024-08-31 13567111 bus:SmallEntities 2023-09-01 2024-08-31 13567111 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 13567111 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13567111 bus:Director1 2023-09-01 2024-08-31 13567111 bus:Director2 2023-09-01 2024-08-31 13567111 bus:Director3 2023-09-01 2024-08-31 13567111 2022-09-01 2023-08-31 13567111 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 13567111 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13567111 (England and Wales)

CORNISH PREMIER HOMES LIMITED

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

CORNISH PREMIER HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

CORNISH PREMIER HOMES LIMITED

BALANCE SHEET

As at 31 August 2024
CORNISH PREMIER HOMES LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Current assets
Stocks 3 887,562 120,576
Debtors 4 588 121,280
Cash at bank and in hand 1,697 103
889,847 241,959
Creditors: amounts falling due within one year 5 ( 902,274) ( 246,008)
Net current liabilities (12,427) (4,049)
Total assets less current liabilities (12,427) (4,049)
Net liabilities ( 12,427) ( 4,049)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 12,527 ) ( 4,149 )
Total shareholders' deficit ( 12,427) ( 4,049)

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:

The financial statements of Cornish Premier Homes Limited (registered number: 13567111) were approved and authorised for issue by the Board of Directors on 28 May 2025. They were signed on its behalf by:

Mrs D Pascoe
Director
CORNISH PREMIER HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
CORNISH PREMIER HOMES 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 year, unless otherwise stated.

General information and basis of accounting

Cornish Premier Homes 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 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 company is currently in its start up phase and future projects are being investigated. During the year the company purchased development land on which it intends to build residential housing. During this phase continued support will be provided by the directors and related entities.

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 Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If the stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment is recognised immediately in profit or loss.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Stocks

2024 2023
£ £
Work in progress 887,562 120,576

4. Debtors

2024 2023
£ £
Other debtors 588 121,280

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 15,600
Amounts owed to Parent undertakings 703,578 198,578
Other creditors 198,696 31,830
902,274 246,008

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Other related party transactions

Hugafins Co Limited
(Parent company)
The company operates a loan account with Hugafins Co Limited. At the balance sheet date the amount due to Hugafins Co Limited was £703,578 (2023 £198,578). No interest is charged on this loan during the year.

MHE Holdings Limited
(A company holding a participating interest)
The company operates a loan account with MHE Holdings Limited. At the balance sheet date the amount due to MHE Holdings Limited was £136,852 (2023 £19,976). No interest is charged on this loan during the year.

MJH Carpentry and Construction Limited
A company in which the director Mr M J Harris is a director.
The company operates a loan account with MJH Carpentry and Construction Limited. At the balance sheet date the amount due to MJH Carpentry and Construction Limited was £59,497 (2023 £10,754). No interest is charged on this loan in the year.

8. Ultimate controlling party

Parent Company:

Hugafins Co Limited
Beechwood,
South Drive,
Tehidy,
Camborne,
Cornwall TR14 0EZ