Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mrs T Hardick 20/08/2015 22 August 2025 The principal activity of the Company during the financial year was letting of real estate. 09741377 2024-12-31 09741377 bus:Director1 2024-12-31 09741377 2023-12-31 09741377 core:CurrentFinancialInstruments 2024-12-31 09741377 core:CurrentFinancialInstruments 2023-12-31 09741377 core:ShareCapital 2024-12-31 09741377 core:ShareCapital 2023-12-31 09741377 core:RetainedEarningsAccumulatedLosses 2024-12-31 09741377 core:RetainedEarningsAccumulatedLosses 2023-12-31 09741377 bus:OrdinaryShareClass1 2024-12-31 09741377 2024-01-01 2024-12-31 09741377 bus:FilletedAccounts 2024-01-01 2024-12-31 09741377 bus:SmallEntities 2024-01-01 2024-12-31 09741377 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09741377 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09741377 bus:Director1 2024-01-01 2024-12-31 09741377 2023-01-01 2023-12-31 09741377 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 09741377 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09741377 (England and Wales)

IRREGULAR CORNWALL LIMITED

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

IRREGULAR CORNWALL LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

IRREGULAR CORNWALL LIMITED

BALANCE SHEET

As at 31 December 2024
IRREGULAR CORNWALL LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,687,826 2,187,826
2,687,826 2,187,826
Current assets
Debtors 4 737,539 565,955
Cash at bank and in hand 18,738 1,318
756,277 567,273
Creditors: amounts falling due within one year 5 ( 1,712,892) ( 1,698,301)
Net current liabilities (956,615) (1,131,028)
Total assets less current liabilities 1,731,211 1,056,798
Provision for liabilities ( 365,000) ( 239,707)
Net assets 1,366,211 817,091
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 1,366,111 816,991
Total shareholder's funds 1,366,211 817,091

Non-distributable reserves
At the year end, within the Profit and loss account are non-distributable reserves totalling £1,041,267 (2023: £666,267). These are disclosed net of deferred tax.

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.

Director's responsibilities:

The financial statements of Irregular Cornwall Limited (registered number: 09741377) were approved and authorised for issue by the Director on 22 August 2025. They were signed on its behalf by:

Mrs T Hardick
Director
IRREGULAR CORNWALL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
IRREGULAR CORNWALL 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

Irregular Cornwall 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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The principal place of business is 56 The Square, Chagford, Newton Abbot, TQ13 8AE.

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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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

The turnover shown in the profit and loss account represents rent receivable in the year. Revenue is recognised evenly over the rental period.

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 is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

No depreciation is provided on the investment property which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors the property is held primarily for its investment potential and so its current value is of more significance than any measure of consumption and to depreciate it would not give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 2,187,826
Fair value movement 500,000
As at 31 December 2024 2,687,826

The investment properties were valued on 31 December 2024 by the director who is internal to the company. The basis of this valuation was open market value.

There has been no valuation of investment property by an independent valuer.

4. Debtors

2024 2023
£ £
Trade debtors 67,883 65,524
Amounts owed by Group undertakings 649,763 481,027
Corporation tax 3,199 0
Other debtors 16,694 19,404
737,539 565,955

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 31,924 31,924
Amounts owed to Group undertakings 36,850 2,879
Accruals 20,956 20,501
Taxation and social security 22,628 42,219
Other creditors 1,600,534 1,600,778
1,712,892 1,698,301

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

During the year, a loan existed between the director's spouse and Irregular Cornwall Limited. No interest was charged on the loan and the balance is repayable on demand. The balance is included in other creditors due within one year and at the balance sheet date the amount due to the director's spouse was £1,600,534 (2023: £1,600,778).

During the year, a loan existed between Irregular Cornwall Limited and Brechin Investments Limited. At the balance sheet date the amount due from Brechin Investments Limited was £633,309 (2023: £461,374). The balance is repayable on demand.

During the year, a loan existed between Irregular Cornwall Limited and Roseneath Penryn Limited. At the balance sheet date the amount due from Roseneath Penryn Limited was £16,454 (2023: £19,653). The balance is repayable on demand.

During the year, a loan existed between Irregular Cornwall Limited and Irregular Contracts Limited. At the balance sheet date the amount due to Irregular Contracts was £2,879 (2023: £2,879). The balance is repayable on demand.

During the year, a loan existed between Irregular Cornwall Limited and Ross Park Homes Limited. At the balance sheet date the amount due to Ross Park Homes was £33,971 (2023: £Nil).