Havensilver Investments (Sevenoaks) Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

(Registration number: 08864980)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	Restated 2023 £
Fixed assets
Tangible assets	4	172,162	162,689
Current assets
Stocks	5	1,418,302	1,199,011
Debtors	6	23,371	13,801
Cash at bank and in hand		58,373	785,068
		1,500,046	1,997,880
Creditors: Amounts falling due within one year	7	(692,190)	(949,050)
Net current assets		807,856	1,048,830
Total assets less current liabilities		980,018	1,211,519
Provisions for liabilities		(19,276)	(21,234)
Net assets		960,742	1,190,285
Capital and reserves
Called up share capital		3	3
Revaluation reserve		33,658	33,662
Profit and loss account		927,081	1,156,620
Shareholders' funds		960,742	1,190,285

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 (Sevenoaks) Limited

(Registration number: 08864980)
Statement of Financial Position as at 31 December 2024 (continued)

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 10 September 2025 and signed on its behalf by:

Mr S Baker
Director

Havensilver Investments (Sevenoaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Quarry Hill
Sevenoaks
TN15 0HH
England

Principal activity

The principal activity of the company is property development

2	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

The reserves as at 31 December 2023 have been adjusted to recognise the revaluation reserve and deferred tax liabilities on the investments. This has reduced the retained profit and loss reserve by £33,667 and increased the revaluation reserve by £33,667.

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 sale of property and fees for management services. Turnover from property sales is recognised at the date of exchange of contracts where there is a right to consideration.

Havensilver Investments (Sevenoaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Taxation

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:

Asset class	Depreciation method and rate
Fittings fixtures and equipment	20% reducing balance
Motor vehicles	20% reducing balance
Buildings	10 years straight line

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

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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.

Havensilver Investments (Sevenoaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

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.

Work in progress

Work in progress includes an appropriate percentage of the total development expenditure, adjusted for sales made and leaving the cost of unsold properties. The costs of arranging finance are included in development but not interest.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Havensilver Investments (Sevenoaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

Buildings
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Motor vehicles
£

Total
£

Cost or valuation

At 1 January 2024

86,392

44,883

2,920

59,504

193,699

Revaluations

-

(6)

-

-

(6)

Additions

28,827

-

231

-

29,058

At 31 December 2024

115,219

44,877

3,151

59,504

222,751

Depreciation

At 1 January 2024

8,639

-

950

21,421

31,010

Charge for the year

11,522

-

440

7,617

19,579

At 31 December 2024

20,161

-

1,390

29,038

50,589

Carrying amount

At 31 December 2024

95,058

44,877

1,761

30,466

172,162

At 31 December 2023

77,753

44,883

1,970

38,083

162,689

Included within the net book value of land and buildings above is £95,058 (2023 - £77,752) in respect of freehold land and buildings and £44,877 (2023 - £44,883) in respect of long leasehold land and buildings.

5

Stocks

	2024 £	2023 £
Work in progress	1,418,302	1,199,011

6

Debtors

	Note	2024 £	2023 £
Amounts owed by related parties	9	14,684	26
Other debtors		7,409	12,544
Prepayments		528	731
Accrued income		750	500
		23,371	13,801

Havensilver Investments (Sevenoaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		758	13,683
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	657,938	845,156
Accruals and deferred income		6,405	6,100
Other creditors		27,089	84,111
		692,190	949,050

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
	(83,812)	77,950	(21,227)	(27,089)

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 31 December 2023
£

(53,542)

4,730

-

(35,000)

(83,812)

Havensilver Investments (Sevenoaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9	Related party transactions (continued)

Transactions with related parties

During the year the company entered into the following transactions with related parties:

	2024 £	2023 £
Havensilver Investments Limited - associate	(657,938)	(687,282)
Havensilver Investments (Seal) Limited - associate	14,658	(157,874)
	(643,280)	(845,156)

	Buildings £	Long leasehold land and buildings £	Fixtures and fittings £	Motor vehicles £	Total £
Cost or valuation
At 1 January 2024	86,392	44,883	2,920	59,504	193,699
Revaluations	-	(6)	-	-	(6)
Additions	28,827	-	231	-	29,058
At 31 December 2024	115,219	44,877	3,151	59,504	222,751
Depreciation
At 1 January 2024	8,639	-	950	21,421	31,010
Charge for the year	11,522	-	440	7,617	19,579
At 31 December 2024	20,161	-	1,390	29,038	50,589
Carrying amount
At 31 December 2024	95,058	44,877	1,761	30,466	172,162
At 31 December 2023	77,753	44,883	1,970	38,083	162,689

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	Other payments made to company by director £	At 31 December 2023 £
	(53,542)	4,730	-	(35,000)	(83,812)