Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr A P Hearn 08/04/2013 Miss R S Hearn 13/07/2017 Mr M J Hearn 08/04/2013 09 June 2025 The principal activity of the Company during the financial year was the rental of investment properties. 08477156 2024-12-31 08477156 bus:Director1 2024-12-31 08477156 bus:Director2 2024-12-31 08477156 bus:Director3 2024-12-31 08477156 2023-12-31 08477156 core:CurrentFinancialInstruments 2024-12-31 08477156 core:CurrentFinancialInstruments 2023-12-31 08477156 core:Non-currentFinancialInstruments 2024-12-31 08477156 core:Non-currentFinancialInstruments 2023-12-31 08477156 core:ShareCapital 2024-12-31 08477156 core:ShareCapital 2023-12-31 08477156 core:OtherCapitalReserve 2024-12-31 08477156 core:OtherCapitalReserve 2023-12-31 08477156 core:RetainedEarningsAccumulatedLosses 2024-12-31 08477156 core:RetainedEarningsAccumulatedLosses 2023-12-31 08477156 core:CostValuation 2023-12-31 08477156 core:CostValuation 2024-12-31 08477156 bus:OrdinaryShareClass1 2024-12-31 08477156 bus:OrdinaryShareClass2 2024-12-31 08477156 2024-01-01 2024-12-31 08477156 bus:FilletedAccounts 2024-01-01 2024-12-31 08477156 bus:SmallEntities 2024-01-01 2024-12-31 08477156 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08477156 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08477156 bus:Director1 2024-01-01 2024-12-31 08477156 bus:Director2 2024-01-01 2024-12-31 08477156 bus:Director3 2024-01-01 2024-12-31 08477156 2023-01-01 2023-12-31 08477156 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 08477156 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 08477156 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 08477156 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08477156 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 08477156 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08477156 (England and Wales)

HEARN LAND LIMITED

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

HEARN LAND LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

HEARN LAND LIMITED

BALANCE SHEET

As at 31 December 2024
HEARN LAND LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,377,500 2,432,500
Investments 4 5,526 5,526
2,383,026 2,438,026
Current assets
Debtors 5 5,772 6,061
Cash at bank and in hand 19,901 5,451
25,673 11,512
Creditors: amounts falling due within one year 6 ( 67,755) ( 79,317)
Net current liabilities (42,082) (67,805)
Total assets less current liabilities 2,340,944 2,370,221
Creditors: amounts falling due after more than one year 7 ( 917,394) ( 952,121)
Provision for liabilities ( 18,512) ( 32,262)
Net assets 1,405,038 1,385,838
Capital and reserves
Called-up share capital 8 910,000 910,000
Other reserves 174,133 215,383
Profit and loss account 320,905 260,455
Total shareholders' funds 1,405,038 1,385,838

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:

The financial statements of Hearn Land Limited (registered number: 08477156) were approved and authorised for issue by the Board of Directors on 09 June 2025. They were signed on its behalf by:

Mr A P Hearn
Director
HEARN LAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
HEARN LAND 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

Hearn Land 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 Osprey House, Malpas Road, Truro, TR1 1UT, 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 comprises rent receivable from the company's let property. Turnover is shown net of rebates and discounts.

The company recognises rental income in accordance with the terms of the underlying letting agreements.

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.

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.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 2,432,500
Fair value movement (55,000)
As at 31 December 2024 2,377,500

Investment property is included at the directors' estimate of fair value supported by information received from professional advisors.

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 5,526 5,526
At 31 December 2024 5,526 5,526
Carrying value at 31 December 2024 5,526 5,526
Carrying value at 31 December 2023 5,526 5,526

5. Debtors

2024 2023
£ £
Trade debtors 0 548
Prepayments and accrued income 1,804 3,095
Other debtors 3,968 2,418
5,772 6,061

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other loans 45,254 45,900
Accruals and deferred income 4,998 25,469
Corporation tax 16,605 7,237
Other creditors 898 711
67,755 79,317

There are no amounts included above in respect of which any security has been given by the small entity.

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

2024 2023
£ £
Amounts owed to directors 917,394 952,121

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
905,000 A Ordinary shares of £ 1.00 each 905,000 905,000
5,000 C Ordinary shares of £ 1.00 each 5,000 5,000
910,000 910,000

Reserves -

Other reserves comprises cumulative fair value movements on investment property, net of provision for associated deferred tax where applicable. This reserve is unrealised and not distributable.

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Mr A P Hearn 738,848 759,219
Mrs M Hearn 223,801 238,801

Mr A P Hearn (Director)
Mr A P Hearn and his immediate family have advanced loans to the company. At 31 December 2024 an amount of £738,848 (2023 - £759,219) had been advanced by Mr A P Hearn and an amount of £223,801 (2023 - £238,801) had been advanced by Mrs M Hearn. No interest has been charged by Mr A P Hearn on his loan in the current year (2023 - £22,007). No interest has been charged by Mrs M Hearn (2023 - £nil). These loans are unsecured.