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Company No: 09017937 (England and Wales)

# SALCOMBE HILL INVESTMENTS LIMITED

### Unaudited Financial Statements
For the financial period from 01 May 2024 to 31 March 2025
Pages for filing with the registrar

SALCOMBE HILL INVESTMENTS LIMITED

## Unaudited Financial Statements

For the financial period from 01 May 2024 to 31 March 2025

Contents

SALCOMBE HILL INVESTMENTS LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
SALCOMBE HILL INVESTMENTS LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 31.03.2025 |  | 30.04.2024
|  | £ |  | £
|  |  |  | Restated - note 2
Fixed assets |  |  |  |
Tangible assets | 4 | 1,208 |  | 835
Investments | 5 | 1,417,697 |  | 776,265
|  | 1,418,905 |  | 777,100
Current assets |  |  |  |
Cash at bank and in hand |  | 29,944 |  | 322,002
|  | 29,944 |  | 322,002
Creditors: amounts falling due within one year | 6 | ( 1,344,174) |  | ( 992,684)
Net current liabilities |  | (1,314,230) |  | (670,682)
Total assets less current liabilities |  | 104,675 |  | 106,418
Provision for liabilities | 7 | ( 3,059) |  | 0
Net assets |  | 101,616 |  | 106,418
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | 101,516 |  | 106,318
Total shareholder's funds |  | 101,616 |  | 106,418

For the financial period ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges 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 Salcombe Hill Investments Limited (registered number: 09017937) were approved and authorised for issue by the Director on 27 March 2026. They were signed on its behalf by:

M Maltby Director |

SALCOMBE HILL INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2024 to 31 March 2025
SALCOMBE HILL INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2024 to 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Salcombe Hill Investments Limited (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 6 Millford Avenue, Sidmouth, EX10 8DS, 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 director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net current liabilities of £1,314,230. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes 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.

##### Reporting period length

The reporting period length was changed to be in line with the reporting periods of the investment portfolio. This has resulted in a shorter period of 11 months, and therefore the comparative amounts presented in the financial statements are not entirely comparable.

##### Prior period adjustment

Where material misstatements are found in the comparative information, the prior year figures are restated to aid comparability.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### 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).

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### 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.
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 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:

Computer equipment | 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### 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.

##### 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.

##### 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.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

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

#### 2. Prior period adjustment

In the prior period the investment in listed stocks and shares was reflected at its book cost. In line with the accounting policy for fixed asset investments, this has been restated to reflect the market value of the portfolio. This uplift in value to market value has been shown in the statement of profit or loss, which has subsequently adjusted the retained earnings.
The market value for the portfolio was not available for the year-end date, 30 April 2024, and therefore this is shown at the market value at 31 March 2024, the closest reporting period to the year-end date. The market value has been amended to reflect additional shares purchased between 1 April 2024 and 30 April 2024 at the purchase cost.
Additionally, computer equipment was historically shown in Stocks in the balance sheet. This has been restated to be shown within Tangible Assets. This balance had historically not been depreciated in line with the accounting policy, so the historic balances have been adjusted to recognise depreciation of the Tangible Asset balance in line with the accounting policy for tangible fixed assets.

|  | As previously reported |  | Adjustment |  | As restated
Period ended 30 April 2024 |  | £ |  | £ |  | £
Fixed asset investments - Listed investments at 30 April 2024 |  | 741,429 |  | 34,836 |  | 776,265
Gain on fair value movement of fixed asset investments |  | 0 |  | 34,836 |  | 34,836
Stocks - At 30 April 2024 |  | 1,701 |  | (1,701) |  | 0
Tangible assets - At 30 April 2024 |  | 0 |  | 835 |  | 835
Depreciation |  | 0 |  | 866 |  | 866
Retained earnings at the end of financial year at 30 April 2024 |  | 72,348 |  | 33,970 |  | 106,318

#### 3. Employees

| Period from 01.05.2024 to 31.03.2025 |  | Year ended 30.04.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the period, including the director | 1 |  | 1

#### 4. Tangible assets

| Computer equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 May 2024 | 1,701 |  | 1,701
Additions | 1,236 |  | 1,236
At 31 March 2025 | 2,937 |  | 2,937
Accumulated depreciation |  |  |
At 01 May 2024 | 866 |  | 866
Charge for the financial period | 863 |  | 863
At 31 March 2025 | 1,729 |  | 1,729
Net book value |  |  |
At 31 March 2025 | 1,208 |  | 1,208
At 30 April 2024 | 835 |  | 835

#### 5. Fixed asset investments

| Listed investments |  | Other investments |  | Total
| £ |  | £ |  | £
Cost or valuation before impairment |  |  |  |  |
At 01 May 2024 | 776,265 |  | 0 |  | 776,265
Additions | 1,150,320 |  | 50,000 |  | 1,200,320
Disposals | ( 518,660) |  | 0 |  | ( 518,660)
Movement in fair value | ( 40,228) |  | 0 |  | ( 40,228)
At 31 March 2025 | 1,367,697 |  | 50,000 |  | 1,417,697
Carrying value at 31 March 2025 | 1,367,697 |  | 50,000 |  | 1,417,697
Carrying value at 30 April 2024 | 776,265 |  | 0 |  | 776,265

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

| 31.03.2025 |  | 30.04.2024
| £ |  | £
Amounts owed to director | 1,336,580 |  | 993,443
Accruals | 7,440 |  | 0
Taxation and social security | 154 |  | ( 759)
| 1,344,174 |  | 992,684

#### 7. Deferred tax

| 31.03.2025 |  | 30.04.2024
| £ |  | £
At the beginning of financial period/year | 0 |  | 0
Charged to the Statement of Income and Retained Earnings | ( 3,059) |  | 0
At the end of financial period/year | ( 3,059) |  | 0

#### 8. Called-up share capital

| 31.03.2025 |  | 30.04.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 9. Related party transactions

Transactions with the entity's director

At the year end, a director was owed £1,336,580 (2024: £993,443) by the Company. No interest was charged on this balance and the amount is repayable on demand.