REGISTERED NUMBER: 10171433 (England and Wales)

Balvernie Ltd

Unaudited Financial Statements

for the Year Ended 31st May 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

S H Williams

Mrs S E Williams

B H Williams

REGISTERED OFFICE:

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

REGISTERED NUMBER:

10171433 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Investments

4

638,596

565,502

CURRENT ASSETS

Debtors

5

100,000

100,002

Cash at bank

7,077

43,348

107,077

143,350

CREDITORS

Amounts falling due within one year

6

(898,556

)

(898,691

)

NET CURRENT LIABILITIES

(791,479

)

(755,341

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(152,883

)

(189,839

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(152,885

)

(189,841

)

SHAREHOLDERS' FUNDS

(152,883

)

(189,839

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th December 2025 and were signed on its behalf by:

S H Williams - Director

1.	STATUTORY INFORMATION

Balvernie Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements cover an individual entity.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fixed asset investments

Fixed asset investments consists of listed securities of individual companies, investment trusts and exchange traded funds. Fixed asset investments are measured at fair value at the statement of financial position date.

Fair value is based on the quoted market price in an active market. Fair value adjustments arising from a difference between the cost and current market price of the securities are recognised in profit or loss at the valuation date..

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts, discounted at a market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, loans from other related companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments, discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Going concern

At the year end the company had net current liabilities and net liabilities and is reliant on the continued support of the directors. These financial statements have been prepared on the going concern basis and the directors believe this is appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1st June 2024

565,502

Additions

648,749

Disposals

(569,251

)

Revaluations

(6,404

)

At 31st May 2025

638,596

NET BOOK VALUE

At 31st May 2025

638,596

At 31st May 2024

565,502

Cost or valuation at 31st May 2025 is represented by:

Other

investments

£

Valuation in 2025

(6,404

)

Cost

645,000

638,596

If the listed investments had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

645,000

747,485

Listed investments were valued on an open market basis on 31st May 2025 by Barclays Investment Services .

The loss on revaluation of listed investments of £6,404 has been recognised in the income statement.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

100,000

100,002

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

35

-

Trade creditors

-

277

Taxation and social security

135

135

Other creditors

898,386

898,279

898,556

898,691

Included within other creditors above are the directors loan accounts totalling £896,826. There is no intention to repay these amounts within one year and will be repaid as and when cash flow allows.