REGISTERED NUMBER: 15357560 (England and Wales)

Balvernie Holdings Limited

Unaudited Financial Statements

for the Period 18th December 2023 to 31st May 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S E Williams

S H Williams

B H Williams

REGISTERED OFFICE:

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

REGISTERED NUMBER:

15357560 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Investments

4

5,003,466

CURRENT ASSETS

Debtors

5

6,134

Cash at bank

3,593,469

3,599,603

CREDITORS

Amounts falling due within one year

6

(94,847

)

NET CURRENT ASSETS

3,504,756

TOTAL ASSETS LESS CURRENT LIABILITIES

8,508,222

CREDITORS

Amounts falling due after more than one year

7

(8,000,000

)

PROVISIONS FOR LIABILITIES

(58,113

)

NET ASSETS

450,109

CAPITAL AND RESERVES

Called up share capital

400

Retained earnings

449,709

450,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st May 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th September 2025 and were signed on its behalf by:

S H Williams - Director

1.	STATUTORY INFORMATION

Balvernie Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the statement of financial position date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result

Fixed asset investments

Fixed asset investments consists of listed securities of individual companies, investment trusts,

exchange traded funds, bond funds and similar instruments. Fixed asset investments are measured at

fair value at the statement of financial position date.

Fair value is based on the quoted market price in an active market at the reporting date. Fair value

adjustments arising from a difference between the cost and current market price of the securities are

recognised in profit or loss at the valuation date

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially

recognised at transaction price, unless the arrangement constitutes a financing transaction, where the

transaction is measured at the present value of future receipts, discounted at a market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price,unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments, discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

Listed

investment

£

COST OR VALUATION

Additions

6,549,380

Disposals

(1,778,366

)

Revaluations

232,452

At 31st May 2025

5,003,466

NET BOOK VALUE

At 31st May 2025

5,003,466

Cost or valuation at 31st May 2025 is represented by:

Listed

investment

£

Valuation in 2025

232,452

Cost

4,771,014

5,003,466

If fixed asset investments had not been revalued they would have been included at the following historical cost:

£

Cost

4,771,014

Fixed asset investments were valued on an open market basis on 31st May 2025 by Barclays Bank PLC .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

6,134

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Tax

79,547

Accrued expenses

15,300

94,847

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Directors' loan accounts

8,000,000

Directors' loan accounts are interest free and repayable in April 2044.

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Directors' current accounts

8,000,000

Mr S H Williams and Mrs S E Williams, the directors of the company, hold a fixed and floating charge over the property and undertaking of the company.