Silverfin false false 31/08/2024 01/09/2023 31/08/2024 S Kemiki 23/08/2019 K Onuoka 27/02/2020 28 May 2025 The principal activity of the company is the holding of investment property for rental purposes. 12171333 2024-08-31 12171333 bus:Director1 2024-08-31 12171333 bus:Director2 2024-08-31 12171333 2023-08-31 12171333 core:CurrentFinancialInstruments 2024-08-31 12171333 core:CurrentFinancialInstruments 2023-08-31 12171333 core:ShareCapital 2024-08-31 12171333 core:ShareCapital 2023-08-31 12171333 core:RetainedEarningsAccumulatedLosses 2024-08-31 12171333 core:RetainedEarningsAccumulatedLosses 2023-08-31 12171333 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-08-31 12171333 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-08-31 12171333 core:CurrentFinancialInstruments 1 2024-08-31 12171333 core:CurrentFinancialInstruments 1 2023-08-31 12171333 2023-09-01 2024-08-31 12171333 bus:FilletedAccounts 2023-09-01 2024-08-31 12171333 bus:SmallEntities 2023-09-01 2024-08-31 12171333 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12171333 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12171333 bus:Director1 2023-09-01 2024-08-31 12171333 bus:Director2 2023-09-01 2024-08-31 12171333 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Company No: 12171333 (England and Wales)

MSN INVESTMENT HOLDINGS LIMITED

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

MSN INVESTMENT HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

MSN INVESTMENT HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
MSN INVESTMENT HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTORS S Kemiki
K Onuoka
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 12171333 (England and Wales)
ACCOUNTANT Gravita Business Services Limited
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
MSN INVESTMENT HOLDINGS LIMITED

BALANCE SHEET

As at 31 August 2024
MSN INVESTMENT HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 450,000 450,000
450,000 450,000
Current assets
Debtors 4 13,780 6,801
Cash at bank and in hand 6,571 1,127
20,351 7,928
Creditors: amounts falling due within one year 5 ( 592,190) ( 589,519)
Net current liabilities (571,839) (581,591)
Total assets less current liabilities (121,839) (131,591)
Net liabilities ( 121,839) ( 131,591)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 121,939 ) ( 131,691 )
Total shareholders' deficit ( 121,839) ( 131,591)

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 MSN Investment Holdings Limited (registered number: 12171333) were approved and authorised for issue by the Board of Directors on 28 May 2025. They were signed on its behalf by:

S Kemiki
Director
MSN INVESTMENT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
MSN INVESTMENT 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 year, unless otherwise stated.

General information and basis of accounting

MSN Investment 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 2 Leman Street, London, E1W 9US.

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

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised as the fair value of rental income received.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 September 2023 450,000
As at 31 August 2024 450,000

Valuation

The value of the investment property is held at a revalued amount based on an exercise performed by the directors with reference to the market values for similar properties.

4. Debtors

2024 2023
£ £
Amounts owed by connected companies 6,672 5,572
Other debtors 7,108 1,229
13,780 6,801

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to connected companies 14,226 0
Taxation and social security 2,453 0
Other creditors 575,511 589,519
592,190 589,519

6. Related party transactions

At the year end, the company was owed £6,672 (2023 - £10,924) by World Marine Oil and Gas Pty Limited, a company under common control of the director S Kemiki, in respect of an interest free loan repayable on demand.

At the year end, the company owed 14,226 (2023 - £5,676) to Dominion4ever Management Limited, a company under common control of the director S Kemiki, in respect of an interest free loan repayable on demand.

At the year end, the company owed £541,978 (2023 - £584,839) to the directors in respect of an interest free loan repayable on demand.