Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Alun John Lewis 11/05/2004 Debra Jayne Lewis 11/05/2004 08 July 2025 The principal activity of the Company during the financial year was that of a commercial and residential property letting, together with property development enablement works. 05123956 2024-10-31 05123956 bus:Director1 2024-10-31 05123956 bus:Director2 2024-10-31 05123956 2023-10-31 05123956 core:CurrentFinancialInstruments 2024-10-31 05123956 core:CurrentFinancialInstruments 2023-10-31 05123956 core:Non-currentFinancialInstruments 2024-10-31 05123956 core:Non-currentFinancialInstruments 2023-10-31 05123956 core:ShareCapital 2024-10-31 05123956 core:ShareCapital 2023-10-31 05123956 core:RetainedEarningsAccumulatedLosses 2024-10-31 05123956 core:RetainedEarningsAccumulatedLosses 2023-10-31 05123956 core:FurnitureFittings 2023-10-31 05123956 core:FurnitureFittings 2024-10-31 05123956 bus:OrdinaryShareClass1 2024-10-31 05123956 bus:OrdinaryShareClass2 2024-10-31 05123956 2023-11-01 2024-10-31 05123956 bus:FilletedAccounts 2023-11-01 2024-10-31 05123956 bus:SmallEntities 2023-11-01 2024-10-31 05123956 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 05123956 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05123956 bus:Director1 2023-11-01 2024-10-31 05123956 bus:Director2 2023-11-01 2024-10-31 05123956 core:FurnitureFittings core:TopRangeValue 2023-11-01 2024-10-31 05123956 2022-11-01 2023-10-31 05123956 core:FurnitureFittings 2023-11-01 2024-10-31 05123956 core:Non-currentFinancialInstruments 2023-11-01 2024-10-31 05123956 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 05123956 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 05123956 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 05123956 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05123956 (England and Wales)

HEMYOCK 21 PROPERTIES LIMITED

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

HEMYOCK 21 PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

HEMYOCK 21 PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
HEMYOCK 21 PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,697 3,868
Investment property 4 796,844 796,844
799,541 800,712
Current assets
Debtors 5 3,555 3,064
Cash at bank and in hand 10,800 1,265
14,355 4,329
Creditors: amounts falling due within one year 6 ( 59,002) ( 51,702)
Net current liabilities (44,647) (47,373)
Total assets less current liabilities 754,894 753,339
Creditors: amounts falling due after more than one year 7 ( 310,932) ( 331,033)
Provision for liabilities ( 6,504) ( 6,727)
Net assets 437,458 415,579
Capital and reserves
Called-up share capital 8 160 160
Profit and loss account 437,298 415,419
Total shareholders' funds 437,458 415,579

For the financial year ending 31 October 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 Hemyock 21 Properties Limited (registered number: 05123956) were approved and authorised for issue by the Board of Directors on 08 July 2025. They were signed on its behalf by:

Alun John Lewis
Director
HEMYOCK 21 PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
HEMYOCK 21 PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Hemyock 21 Properties 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 C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is 1 East Budleigh Road, Budleigh Salterton, Devon, EX9 6HE.

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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

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

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 November 2023 6,455 6,455
At 31 October 2024 6,455 6,455
Accumulated depreciation
At 01 November 2023 2,587 2,587
Charge for the financial year 1,171 1,171
At 31 October 2024 3,758 3,758
Net book value
At 31 October 2024 2,697 2,697
At 31 October 2023 3,868 3,868

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 796,844
As at 31 October 2024 796,844

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 647,371 647,371

5. Debtors

2024 2023
£ £
Prepayments 3,555 3,064

6. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals and deferred income 5,534 6,662
Corporation tax 5,354 1,038
Other taxation and social security 5,234 4,002
Other creditors 42,880 40,000
59,002 51,702

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

2024 2023
£ £
Amounts owed to directors 310,932 331,033

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
20 Ordinary shares of £ 1.00 each 20 20
140 Ordinary A shares of £ 1.00 each 140 140
160 160

On 19 October 2023, 20 Ordinary shares were reclassified to Ordinary A shares at par.

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed to shareholders 40,000 40,000

Interest is not charged on the loans from shareholders and the amount is repayable on demand.

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 310,932 331,033

Interest is charged on the loan at 10%.

10. Profit and Loss account

The profit and loss reserve balance at the balance sheet date contains unrealised gains of £112,105, net of deferred tax of £37,368, in relation to the company's investment properties.