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Company No: 00466774 (England and Wales)

C.E.MURCH LIMITED

Unaudited Financial Statements
For the 17 month period from 06 April 2023 to 31 August 2024
Pages for filing with the registrar

C.E.MURCH LIMITED

Unaudited Financial Statements

For the 17 month period from 06 April 2023 to 31 August 2024

Contents

C.E.MURCH LIMITED

COMPANY INFORMATION

For the 17 month period from 06 April 2023 to 31 August 2024
C.E.MURCH LIMITED

COMPANY INFORMATION (continued)

For the 17 month period from 06 April 2023 to 31 August 2024
Directors C J D Atkins
D M Atkins (Appointed 20 December 2024)
J M Atkins
S E Atkins
S J Sait (Appointed 20 December 2024)
Secretary C J D Atkins
Registered office 37 St Margarets Street
Canterbury
Kent
CT1 2TU
United Kingdom
Company number 00466774 (England and Wales)
Accountant Kreston Reeves LLP
37 St Margaret's Street
Canterbury
CT1 2TU
United Kingdom
C.E.MURCH LIMITED

BALANCE SHEET

As at 31 August 2024
C.E.MURCH LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 31.08.2024 05.04.2023
£ £
Fixed assets
Tangible assets 4 5,933,086 5,956,263
Investment property 5 925,000 925,000
Investments 6 3,000 3,000
6,861,086 6,884,263
Current assets
Stocks 7 365,594 305,836
Debtors 8 142,523 248,867
Cash at bank and in hand 9 24 24
508,141 554,727
Creditors: amounts falling due within one year 10 ( 1,933,726) ( 1,780,848)
Net current liabilities (1,425,585) (1,226,121)
Total assets less current liabilities 5,435,501 5,658,142
Creditors: amounts falling due after more than one year 11 ( 724,759) ( 759,844)
Provision for liabilities 12 ( 644,308) ( 750,650)
Net assets 4,066,434 4,147,648
Capital and reserves
Called-up share capital 13 219,600 219,600
Share premium account 2,100 2,100
Revaluation reserve 3,226,343 3,226,343
Profit and loss account 618,391 699,605
Total shareholders' funds 4,066,434 4,147,648

For the financial period 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 C.E.Murch Limited (registered number: 00466774) were approved and authorised for issue by the Board of Directors on 04 August 2025. They were signed on its behalf by:

C J D Atkins
Director
C.E.MURCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the 17 month period from 06 April 2023 to 31 August 2024
C.E.MURCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the 17 month period from 06 April 2023 to 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

C.E.Murch 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 37 St Margarets Street, Canterbury, Kent, CT1 2TU, 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 Balance Sheet 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.

Reporting period length

The accounting period has been extended from 5 April 2024 to 31 August 2024, a 17 month period. The directors concluded that an August year end would work better with cropping years.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Entitlements 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Other property, plant and equipment 10 - 25 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

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.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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 Balance Sheet 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.

2. Employees

17 month period
to 31.08.2024
Year ended
05.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 14 14

3. Intangible assets

Goodwill Entitlements Total
£ £ £
Cost
At 06 April 2023 2,058 23,422 25,480
At 31 August 2024 2,058 23,422 25,480
Accumulated amortisation
At 06 April 2023 2,058 23,422 25,480
At 31 August 2024 2,058 23,422 25,480
Net book value
At 31 August 2024 0 0 0
At 05 April 2023 0 0 0

4. Tangible assets

Land and buildings Other property, plant
and equipment
Total
£ £ £
Cost
At 06 April 2023 4,941,915 1,632,659 6,574,574
Additions 0 30,400 30,400
At 31 August 2024 4,941,915 1,663,059 6,604,974
Accumulated depreciation
At 06 April 2023 64,665 553,646 618,311
Charge for the financial period 14,788 38,789 53,577
At 31 August 2024 79,453 592,435 671,888
Net book value
At 31 August 2024 4,862,462 1,070,624 5,933,086
At 05 April 2023 4,877,250 1,079,013 5,956,263

The net book value of land and buildings may be further analysed as follows:

Freehold £4,862,462 (2023: £4,877,250)

Revaluation of tangible assets

31.08.2024 05.04.2023
£ £
Historical cost 1,135,172 1,135,172
Accumulated depreciation (241,071) (224,184)
Carrying value 894,101 910,988

At 31 August 2024 the valuation of land and buildings totalling £4,941,915 comprises an historic cost element of £1,135,172 and a revaluation element of £3,806,743.

5. Investment property

Investment property
£
Valuation
As at 06 April 2023 925,000
As at 31 August 2024 925,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

At 31 August 2024 the valuation of investment properties totalling £925,000 comprises an historic cost element of £320,028 and a revaluation element of £604,972.

6. Fixed asset investments

Investments in subsidiaries

31.08.2024
£
Cost
At 06 April 2023 100
At 31 August 2024 100
Carrying value at 31 August 2024 100
Carrying value at 05 April 2023 100

Investments in associates Other investments Total
£ £ £
Cost or valuation before impairment
At 06 April 2023 2,800 100 2,900
At 31 August 2024 2,800 100 2,900
Carrying value at 31 August 2024 2,800 100 2,900
Carrying value at 05 April 2023 2,800 100 2,900

7. Stocks

31.08.2024 05.04.2023
£ £
Stocks 66,150 29,400
Crops 299,444 276,436
365,594 305,836

8. Debtors

31.08.2024 05.04.2023
£ £
Trade debtors 13,941 69,146
Amounts owed by associates 79,337 132,035
Corporation tax 0 12,773
Other debtors 49,245 34,913
142,523 248,867

9. Cash and cash equivalents

31.08.2024 05.04.2023
£ £
Cash at bank and in hand 24 24
Less: Bank overdrafts ( 613,949) ( 414,916)
(613,925) (414,892)

10. Creditors: amounts falling due within one year

31.08.2024 05.04.2023
£ £
Bank loans and overdrafts (secured) 637,449 438,316
Trade creditors 44,220 50,124
Amounts owed to own subsidiaries 100 100
Other taxation and social security 9,919 2,513
Obligations under finance leases and hire purchase contracts 0 2,475
Other creditors 1,242,038 1,287,320
1,933,726 1,780,848

The bank loans are secured on freehold land of the Company.

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

31.08.2024 05.04.2023
£ £
Bank loans (secured) 374,759 407,369
Obligations under finance leases and hire purchase contracts 0 2,475
Other creditors 350,000 350,000
724,759 759,844

The bank loans are secured on freehold land of the Company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

31.08.2024 05.04.2023
£ £
Bank loans (secured / repayable by instalments) 270,759 307,369

12. Deferred tax

31.08.2024 05.04.2023
£ £
At the beginning of financial period/year ( 750,650) ( 750,650)
Credited to the Statement of Income and Retained Earnings 106,342 0
At the end of financial period/year ( 644,308) ( 750,650)

The deferred taxation balance is made up as follows:

31.08.2024 05.04.2023
£ £
Revaluation of tangible assets ( 631,900) ( 631,900)
Revaluation of investment property ( 118,750) ( 118,750)
Tax losses carry forward 106,342 0
( 644,308) ( 750,650)

13. Called-up share capital

31.08.2024 05.04.2023
£ £
Allotted, called-up and fully-paid
219,600 Ordinary shares of £ 1.00 each 219,600 219,600

14. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

15. Events after the Balance Sheet date

Shortly after the period end the company sold some arable land for £4.4 million.