Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Amy Gwen Seaton-Burridge 10/11/2020 Michael Francis Seaton-Burridge 07/12/2017 03 February 2026 The principal activity of the Company during the financial year was that of an investment company. 11101757 2024-12-31 11101757 bus:Director1 2024-12-31 11101757 bus:Director2 2024-12-31 11101757 2023-12-31 11101757 core:CurrentFinancialInstruments 2024-12-31 11101757 core:CurrentFinancialInstruments 2023-12-31 11101757 core:ShareCapital 2024-12-31 11101757 core:ShareCapital 2023-12-31 11101757 core:RetainedEarningsAccumulatedLosses 2024-12-31 11101757 core:RetainedEarningsAccumulatedLosses 2023-12-31 11101757 core:CostValuation 2023-12-31 11101757 core:CostValuation 2024-12-31 11101757 bus:OrdinaryShareClass1 2024-12-31 11101757 2024-01-01 2024-12-31 11101757 bus:FilletedAccounts 2024-01-01 2024-12-31 11101757 bus:SmallEntities 2024-01-01 2024-12-31 11101757 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11101757 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11101757 bus:Director1 2024-01-01 2024-12-31 11101757 bus:Director2 2024-01-01 2024-12-31 11101757 2023-01-01 2023-12-31 11101757 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11101757 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11101757 (England and Wales)

# GWINEAS DEVELOPMENTS LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

GWINEAS DEVELOPMENTS LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

GWINEAS DEVELOPMENTS LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
GWINEAS DEVELOPMENTS LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 503,590 |  | 503,590
|  | 503,590 |  | 503,590
Current assets |  |  |  |
Cash at bank and in hand |  | 4,031 |  | 4,116
|  | 4,031 |  | 4,116
Creditors: amounts falling due within one year | 4 | ( 352,979) |  | ( 400,453)
Net current liabilities |  | (348,948) |  | (396,337)
Total assets less current liabilities |  | 154,642 |  | 107,253
Net assets |  | 154,642 |  | 107,253
Capital and reserves |  |  |  |
Called-up share capital | 5 | 100 |  | 100
Profit and loss account |  | 154,542 |  | 107,153
Total shareholders' funds |  | 154,642 |  | 107,253

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 Gwineas Developments Ltd (registered number: 11101757) were approved and authorised for issue by the Board of Directors on 03 February 2026. They were signed on its behalf by:

Michael Francis Seaton-Burridge Director |

GWINEAS DEVELOPMENTS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
GWINEAS DEVELOPMENTS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 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

Gwineas Developments 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 Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### 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 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### 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. Fixed asset investments

Investments in subsidiaries

| 2024
| £
Cost |
At 01 January 2024 | 503,590
At 31 December 2024 | 503,590
Carrying value at 31 December 2024 | 503,590
Carrying value at 31 December 2023 | 503,590

#### 4. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Other creditors | 352,979 |  | 400,453

#### 5. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100