Company No: 08824989 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	2,380		0
Investment property	4	4,174,656		4,174,656
Investments	5	105,045		105,045
		4,282,081		4,279,701
Current assets
Debtors	6	138,589		90,931
		138,589		90,931
Creditors: amounts falling due within one year	7	( 2,778,452)		( 2,399,748)
Net current liabilities		(2,639,863)		(2,308,817)
Total assets less current liabilities		1,642,218		1,970,884
Net assets		1,642,218		1,970,884
Capital and reserves
Called-up share capital	8	1,801,000		1,801,000
Profit and loss account		( 158,782 )		169,884
Total shareholders' funds		1,642,218		1,970,884

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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Haydn Fine Ltd (registered number: 08824989) were approved and authorised for issue by the Board of Directors on 12 November 2025. They were signed on its behalf by:

Raymond Philip Ronald Fine Director

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

Haydn Fine Ltd (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 C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is Spronketts, Spronketts Lane, Warninglid, Haywards Heath, West Sussex, RH17 5SA.

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 Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £2,639,863. The Company is supported through loans from the bank and the directors have confirmed that the loan facilities will continue to be available until 30 June 2026. The directors expect that new loan terms will be negotiated beyond this date for a period of at least 12 months from the date of signing these accounts. Therefore, the directors believe that any foreseeable debts can be met 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

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position 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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings

4 years straight line

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property are 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.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each
balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the
period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

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.

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.

Investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each
balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the
period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 January 2024	0		0
Additions	2,929		2,929
At 31 December 2024	2,929		2,929
Accumulated depreciation
At 01 January 2024	0		0
Charge for the financial year	549		549
At 31 December 2024	549		549
Net book value
At 31 December 2024	2,380		2,380
At 31 December 2023	0		0

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	4,174,656
As at 31 December 2024	4,174,656

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

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	105,045		105,045
At 31 December 2024	105,045		105,045
Carrying value at 31 December 2024	105,045		105,045
Carrying value at 31 December 2023	105,045		105,045

6. Debtors

	2024		2023
	£		£
Trade debtors	57,814		19,027
Prepayments	76,202		70,636
VAT recoverable	4,573		1,268
	138,589		90,931

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts (secured)	1,662,868		1,436,332
Trade creditors	106,421		142,029
Amounts owed to directors	854,851		660,759
Accruals and deferred income	3,001		9,317
Other creditors	151,311		151,311
	2,778,452		2,399,748

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
250 Ordinary 1 shares of £ 1.00 each	250		250
750 Ordinary A 1 shares of £ 1.00 each	750		750
	1,000		1,000
1,800,000 Redeemable preference shares of £ 1.00 each	1,800,000		1,800,000
	1,801,000		1,801,000

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Amounts owed to shareholders	151,311		151,311

The above amount relates to money owed to the shareholders. No interest is to be charged on the above amount and there are no
set repayment terms.

Transactions with the entity's directors

	2024		2023
	£		£
Amounts owed to directors	854,851		660,759

During the year the directors maintained a current account with the company. No interest has been charged and there are no set repayment terms.