Registration number:
Havensilver Investments Ltd
for the Year Ended 31 December 2024
Havensilver Investments Ltd
Contents
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Havensilver Investments Ltd
(Registration number: 01508887)
Statement of Financial Position as at 31 December 2024
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Note |
2024 |
Restated |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Revaluation reserve |
586,392 |
532,103 |
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Profit and loss account |
968,679 |
946,977 |
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Shareholders' funds |
1,555,171 |
1,479,180 |
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.
Havensilver Investments Ltd
(Registration number: 01508887)
Statement of Financial Position as at 31 December 2024 (continued)
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Havensilver Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Principal activity
The principal activity of the company is property management services.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
Reclassification of comparative amounts
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Turnover
Turnover represents the fees for management services.
Havensilver Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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2 |
Accounting policies (continued) |
Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less an accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Asset class |
Depreciation method and rate |
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Fittings, fixtures and equipment |
20% reducing balance |
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Motor vehicles |
25% straight line |
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Computer equipment |
20% reducing balance |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Havensilver Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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2 |
Accounting policies (continued) |
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Havensilver Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Land and buildings |
Motor vehicles |
Computer equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Revaluations |
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- |
- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
- |
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Charge for the year |
- |
- |
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At 31 December 2024 |
- |
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Carrying amount |
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At 31 December 2024 |
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- |
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At 31 December 2023 |
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- |
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Included within the net book value of land and buildings above is £705,176 (2023 - £638,152) in respect of freehold land and buildings.
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Investments |
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2024 |
2023 |
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Shares in group undertakings and participating interests |
62,501 |
62,501 |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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- |
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Other debtors |
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Havensilver Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Taxation and social security |
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Other creditors |
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Related party transactions |
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Transactions with directors |
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2024 |
At 1 January 2024 |
Advances to director |
Repayments by director |
At 31 December 2024 |
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( |
- |
- |
( |
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2023 |
At 1 January 2023 |
Other payments made to company by director |
At 31 December 2023 |
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( |
(23) |
( |
Directors' loans are repayable on demand and subject to interest on overdrawn balances in excess of £10,000 at the official rate.
Havensilver Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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8 |
Related party transactions (continued) |
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Balance owed by/(owed to)
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2024 |
2023 |
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Havensilver Investments (Sevenoaks) Limited - associate |
657,938 |
687,282 |
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Havensilver Investments (Seal) Limited - associate |
248,265 |
217,430 |
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Havensilver Investments (Estates) Limited - associate |
350 |
350 |
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906,553 |
905,062 |