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Company No: 03139709 (England and Wales)

LINHOPE LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

LINHOPE LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

LINHOPE LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
LINHOPE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,000,000 2,000,000
2,000,000 2,000,000
Current assets
Debtors 4 22,561 27,855
Cash at bank and in hand 7,319 15,495
29,880 43,350
Creditors: amounts falling due within one year 5 ( 608,736) ( 559,226)
Net current liabilities (578,856) (515,876)
Total assets less current liabilities 1,421,144 1,484,124
Creditors: amounts falling due after more than one year 6 ( 310,000) ( 350,000)
Provision for liabilities ( 296,376) ( 296,376)
Net assets 814,768 837,748
Capital and reserves
Called-up share capital 7 1,000 1,000
Revaluation reserve 889,127 889,127
Profit and loss account ( 75,359 ) ( 52,379 )
Total shareholder's funds 814,768 837,748

For the financial year ending 30 September 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 Linhope Ltd (registered number: 03139709) were approved and authorised for issue by the Board of Directors on 23 June 2025. They were signed on its behalf by:

E Gordon
Director
LINHOPE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
LINHOPE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Linhope Ltd (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, 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 Statement of Financial Position 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 represents rental income received. The rental income is recognised in the period in which it arises on an accruals basis and in accordance with the terms of the lease.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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 Statement of Financial Position 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 current tax rates and laws. 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.

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.

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.

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.

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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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 October 2023 2,000,000
As at 30 September 2024 2,000,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

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 396,356 396,356

4. Debtors

2024 2023
£ £
Other debtors 22,561 27,855

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 40,000 40,000
Amounts owed to related parties 565,136 505,136
Other creditors 3,600 14,090
608,736 559,226

Interest is charged on the loan at 3.85% per annum above the bank’s base rate and the loan has a maturity date of 29 October 2027. The loan is secured over the company's investment properties.

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

2024 2023
£ £
Bank loans 310,000 350,000

Interest is charged on the loan at 3.85% per annum above the bank’s base rate and the loan has a maturity date of 29 October 2027. The loan is secured over the company's investment properties.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Related party transactions

Other related party transactions

2024 2023
£ £
Entities with control, joint control or significant influence over the company 565,136 505,136

9. Ultimate controlling party

The company is controlled by its parent company Victor Chandler Group Limited.