Clyst Haven Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Clyst Haven Limited

Balance Sheet

31 May 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	954,166	961,674
Investment property	5	4,080,137	4,072,334
		5,034,303	5,034,008
Current assets
Debtors	6	42,433	11,361
Cash at bank and in hand		226,138	125,249
		268,571	136,610
Creditors: Amounts falling due within one year	7	(297,177)	(1,334,602)
Net current liabilities		(28,606)	(1,197,992)
Total assets less current liabilities		5,005,697	3,836,016
Provisions for liabilities		(80,000)	(82,000)
Net assets		4,925,697	3,754,016
Capital and reserves
Called up share capital	8	4,090,000	3,000,000
Profit and loss account		835,697	754,016
Shareholders' funds		4,925,697	3,754,016

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

......................................... Mr S P Buckland Director

Company Registration Number: 09824819

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

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.

Clyst Haven Limited

Notes to the Financial Statements

Year Ended 31 May 2025

2	Accounting policies (continued)

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 service 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.

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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

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

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
Office equipment	20% per annum on cost
Plant and machinery	10% 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.

Clyst Haven Limited

Notes to the Financial Statements

Year Ended 31 May 2025

2	Accounting policies (continued)

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 classed as basic:

• Short term trade and other debtors and creditors;
• 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.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

Clyst Haven Limited

Notes to the Financial Statements

Year Ended 31 May 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Plant and machinery  £	Assets in the course of construction  £	Total £
Cost or valuation
At 1 June 2024	28,685	42,000	915,615	986,300
Additions	3,940	-	-	3,940
At 31 May 2025	32,625	42,000	915,615	990,240
Depreciation
At 1 June 2024	23,926	700	-	24,626
Charge for the year	3,048	8,400	-	11,448
At 31 May 2025	26,974	9,100	-	36,074
Carrying amount
At 31 May 2025	5,651	32,900	915,615	954,166
At 31 May 2024	4,759	41,300	915,615	961,674

5	Investment properties

	2025 £
At 1 June	4,072,334
Additions	75,074
Revaluation	(67,271)
At 31 May	4,080,137

6

Debtors

	2025 £	2024 £
Trade debtors	27,559	2,333
Other debtors	14,874	9,028
	42,433	11,361

Clyst Haven Limited

Notes to the Financial Statements

Year Ended 31 May 2025

7

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	42,756	49,076
Amounts owed to related parties	155,106	1,243,250
Corporation tax	39,288	16,694
Taxation and social security	22,935	3,603
Other creditors	37,092	21,979
	297,177	1,334,602

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	4,090,000	4,090,000	3,000,000	3,000,000

During the year the company issued 1,090,000 Ordinary £1 shares at par.

During the year the company agreed to convert informal shareholder loans into shares held in the company. Accordingly, loan balances totalling £1,090,000 were converted to 1,090,000 ordinary £1 shares.

9

Reserves

Included within the profit and loss reserve is £203,356 (2024: £203,356) in respect of unrealised fair value gains on investment properties net of associated deferred tax.

Clyst Haven Limited

Notes to the Financial Statements

Year Ended 31 May 2025

10	Related party transactions

Loans from related parties

2025	Entities with joint control £
At start of period	1,243,250
Advanced	1,856
Converted to shares	(1,090,000)
At end of period	155,106

2024	Entities with joint control £
At start of period	50,000
Advanced	1,193,250
At end of period	1,243,250

Terms of loans from related parties

The loans, made by Haven Investments Limited and Clyst Holdings Limited, are interest free and repayable on demand.
 

11	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.