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Company No: 10127078 (England and Wales)

CLUMBERSTONE LIMITED

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

CLUMBERSTONE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

CLUMBERSTONE LIMITED

BALANCE SHEET

As at 30 September 2024
CLUMBERSTONE LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1,500 8,500
1,500 8,500
Current assets
Debtors 4 187,767 183,373
Investments 5 107,704 90,559
Cash at bank and in hand 68,057 71,655
363,528 345,587
Creditors: amounts falling due within one year 6 ( 5,636) ( 5,840)
Net current assets 357,892 339,747
Total assets less current liabilities 359,392 348,247
Provision for liabilities ( 2,733) 0
Net assets 356,659 348,247
Capital and reserves
Called-up share capital 2,000 2,000
Profit and loss account 354,659 346,247
Total shareholders' funds 356,659 348,247

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.

Director's responsibilities:

The financial statements of Clumberstone Limited (registered number: 10127078) were approved and authorised for issue by the Director on 26 June 2025. They were signed on its behalf by:

Fraser Mark Curley
Director
CLUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
CLUMBERSTONE LIMITED

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

Clumberstone 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 Leeward House Fitzroy Road, Exeter Business Park, Exeter, EX1 3LJ, 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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 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.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in unlisted subsidiaries, associates and joint ventures are held at cost less accumulated impairment.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 1,000 1,000
Participating interests 500 7,500
1,500 8,500

Investments in subsidiaries

2024
£
Cost
At 01 October 2023 1,000
At 30 September 2024 1,000
Carrying value at 30 September 2024 1,000
Carrying value at 30 September 2023 1,000

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 October 2023 7,500 7,500
Disposals ( 7,000) ( 7,000)
At 30 September 2024 500 500
Carrying value at 30 September 2024 500 500
Carrying value at 30 September 2023 7,500 7,500

4. Debtors

2024 2023
£ £
Amounts owed by own subsidiaries 187,767 182,418
Other debtors 0 955
187,767 183,373

5. Current asset investments

2024 2023
£ £
Listed investments – at fair value 107,704 90,559

The fair value of listed investments, which are all traded in active markets, was determined with reference to the quoted market price at the reporting date.

6. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,296 2,500
Other creditors 3,340 3,340
5,636 5,840

7. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owing to non-directors shareholders 3,340 3,340

Transactions with the entity's director

2024 2023
£ £
Dividends 82,000 24,537

8. Off Balance Sheet arrangements

In March 2020 the company loaned £10,000 to a third party. Later that year this balance was deemed to be irrecoverable and provided for in the financial statements to the year ended 30 September 2020.

Whilst the balance has been provided for, the company continues to pursue the outstanding debt through the appropriate channels, and the director is hopeful of its recovery. The contingent asset has not been recognised in the Balance sheet at 30 September 2024.