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Haven Investments Limited
Annual Report and Financial Statements
Year Ended 31 May 2025

Registration number: 00411455

Haven Investments Limited

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 9

Haven Investments Limited

Balance Sheet

31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,817 | 2,304
Investment property | 5 | 18,478,381 | 18,145,881
Investments | 6 | 2,045,000 | 1,500,000
|  | 20,525,198 | 19,648,185
Current assets |  |  |
Debtors | 7 | 161,165 | 716,253
Cash at bank and in hand |  | 823,389 | 1,282,050
|  | 984,554 | 1,998,303
Creditors: Amounts falling due within one year | 8 | (856,481) | (1,300,977)
Net current assets |  | 128,073 | 697,326
Total assets less current liabilities |  | 20,653,271 | 20,345,511
Creditors: Amounts falling due after more than one year | 8 | (500,000) | -
Provisions for liabilities |  | (826,000) | (926,000)
Net assets |  | 19,327,271 | 19,419,511
Capital and reserves |  |  |
Called up share capital | 12 | 123,074 | 123,074
Profit and loss account |  | 19,204,197 | 19,296,437
Shareholders' funds |  | 19,327,271 | 19,419,511

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 December 2025 and signed on its behalf by:

......................................... Mr M Murrin Director | ......................................... Mrs J Whitty Company secretary

Company Registration Number: 00411455

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

1 | General information

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

The address of its registered office and principal place of business is:
Clyst Court
Hill Barton Business Park
Clyst St. Mary
Exeter
Devon
EX5 1SA

These financial statements were authorised for issue by the Board on 1 December 2025.

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.

Statement of compliance

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 Section 1A and the Companies Act 2006. There are no material departures from FRS 102.

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 functional currency of Haven Investments Limited is considered to be pounds sterling because it is the currency of the primary economic environment in which the company operates.

Group accounts not prepared

In the opinion of the directors, the company and its subsidiaries comprise a small group. The company has not exercised the option to prepare group accounts provided by Section 398 of the Companies Act 2006.

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

2 | Accounting policies (continued)

Going concern

The Board of Directors have considered the current economic climate, and are pleased to report that their cashflow forecasts have held up well from the year end. Looking beyond the date of these financial statements, the Directors have subjected their forecasts to a range of sensitivity tests, and are confident that the business will continue to operate positively allowing for a range of reasonably possible outcomes over the next twelve months.
Taking into account all available information about the future, the board of directors have assessed the ability of the company to continue as a going concern, and consider that the going concern assumption is appropriate when preparing the financial statements.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Rental income and service charges
Revenue in respect of property rental and services charges is recognised on an accruals basis in the period to which the rent or service charge applies. Lease incentives are recognised on a straight line basis over the period up to the first rent review date.
Solar panel income
Revenue in respect of solar panel income is recognised on an accruals basis in the period to which the energy was generated.
Other income
Other income is recognised in the period to which it relates.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

2 | Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 10% per annum on cost on solar panels, 20% per annum on cost of all other plant
Fixtures, fittings and equipment | 20% per annum on cost
Motor vehicles | 20% per annum on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
The company holds the following financial instruments all of which are classified as basic:
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

4 | Tangible assets

| Plant and machinery £ | Total £
Cost or valuation
At 1 June 2024 | 362,199 | 362,199
Additions | 499 | 499
At 31 May 2025 | 362,698 | 362,698
Depreciation
At 1 June 2024 | 359,895 | 359,895
Charge for the year | 986 | 986
At 31 May 2025 | 360,881 | 360,881
Carrying amount
At 31 May 2025 | 1,817 | 1,817
At 31 May 2024 | 2,304 | 2,304

5 | Investment properties

| 2025 £
At 1 June 2024 | 18,145,881
Additions | 787,500
Disposals | (200,000)
Fair value adjustments | (255,000)
At 31 May 2025 | 18,478,381

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

6 | Investments

| Investments in subsidiaries £
Cost or valuation
At 1 June 2024 | 450
At 31 May 2025 | 450
Provision
At 1 June 2024 | 450
At 31 May 2025 | 450
Carrying amount
At 31 May 2025 | -
At 31 May 2024 | -

| Investments in joint ventures £
Cost
At 1 June 2024 | 1,500,000
Additions | 545,000
At 31 May 2025 | 2,045,000
Carrying amount
At 31 May 2025 | 2,045,000
At 31 May 2024 | 1,500,000

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

6 | Investments (continued)

Details of undertakings

Details of the investments in which the company holds any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Bittern Management Company Limited | Clyst Court, Hill Barton Business Park, Clyst St. Mary, Exeter, England, EX5 1SA | Ordinary | 100% | 100%

Participating interests
Clyst Haven Limited | Clyst Court, Hill Barton Business Park, Clyst St. Mary, Exeter, England, EX5 1SA | Ordinary | 50% | 50%

Bittern Management Company Limited is dormant.
The principal activity of Clyst Haven Limited is property development, rental and investment.

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 86,050 | 27,990
Amounts owed by related parties | 20,375 | 565,375
Other debtors | 58 | 56,017
Prepayments | 54,682 | 66,871
| 161,165 | 716,253

8 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 500,000 | 1,000,000
Trade creditors |  | 8,362 | 92,273
Corporation tax |  | 23,867 | -
Taxation and social security |  | 115,241 | 40,980
Other creditors |  | 65,105 | 49,472
Accruals and deferred income |  | 143,906 | 118,252
|  | 856,481 | 1,300,977

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

8 | Creditors (continued)

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 500,000 | -

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 500,000 | -

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 500,000 | 1,000,000

10 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 3,654 | 6,264
Later than one year and not later than five years | - | 3,654
| 3,654 | 9,918

The amount of non-cancellable operating lease payments recognised as an expense during the year was £Nil (2024 - £Nil). The lease agreement is in the name of Haven Investments Limited and so the obligation to pay lies with the company. However, all of the lease repayments are recharged to Clyst Haven Limited. As such, there are no lease payments recognised as an expense in Haven Investments Limited.

11 | Reserves

Included within the profit and loss reserve is £9,293,206 (2024: £9,611,267) in respect of unrealised fair value gains on investment properties net of associated deferred tax.

Haven Investments Limited

Notes to the Financial Statements

Year Ended 31 May 2025

12 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 123,074 | 123,074 | 123,074 | 123,074

13 | Related party transactions

Loans to related parties

2025 | Entities with joint control or significant influence £
At start of period | 565,375
Converted to shares | (545,000)
At end of period | 20,375

2024 | Entities with joint control or significant influence £
At start of period | 50,000
Advanced | 515,375
At end of period | 565,375

Terms of loans to related parties

The loan, made to Clyst Haven Limited, is interest free and repayable on demand.

14 | Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Robert Deare, who signed for and on behalf of PKF Francis Clark on 4 December 2025.