Company No: 08477156 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	2,309,000		2,377,500
Investments	4	5,526		5,526
		2,314,526		2,383,026
Current assets
Debtors	5	7,174		5,772
Cash at bank and in hand		15,526		19,901
		22,700		25,673
Creditors: amounts falling due within one year	6	( 86,169)		( 67,755)
Net current liabilities		(63,469)		(42,082)
Total assets less current liabilities		2,251,057		2,340,944
Creditors: amounts falling due after more than one year	7	( 833,995)		( 917,394)
Provision for liabilities		( 1,387)		( 18,512)
Net assets		1,415,675		1,405,038
Capital and reserves
Called-up share capital	8	910,000		910,000
Other reserves		122,758		174,133
Profit and loss account		382,917		320,905
Total shareholders' funds		1,415,675		1,405,038

Other reserves comprises cumulative fair value movements on investment property, net of provision for associated deferred tax where applicable. This reserve is unrealised and not distributable.

For the financial year ending 31 December 2025 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 Profit and Loss Account has not been delivered.

The financial statements of Hearn Land Limited (registered number: 08477156) were approved and authorised for issue by the Board of Directors on 30 July 2026. They were signed on its behalf by:

Mr A P Hearn Director

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

Hearn Land 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 Osprey House, Malpas Road, Truro, TR1 1UT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover comprises rent receivable from the company's let property. Turnover is shown net of rebates and discounts.

The company recognises rental income in accordance with the terms of the underlying letting agreements.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	2,377,500
Fair value movement	(68,500)
As at 31 December 2025	2,309,000

Investment property is included at the directors' estimate of fair value supported by information received from professional advisors.

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2025	5,526		5,526
At 31 December 2025	5,526		5,526
Carrying value at 31 December 2025	5,526		5,526
Carrying value at 31 December 2024	5,526		5,526

5. Debtors

	2025		2024
	£		£
Prepayments and accrued income	2,347		1,804
Other debtors	4,827		3,968
	7,174		5,772

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other loans	64,326		45,254
Accruals and deferred income	4,646		4,998
Corporation tax	17,197		16,605
Other creditors	0		898
	86,169		67,755

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Amounts owed to directors	833,995		917,394

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
905,000 A Ordinary shares of £ 1.00 each	905,000		905,000
5,000 C Ordinary shares of £ 1.00 each	5,000		5,000
	910,000		910,000

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Mr A P Hearn	695,733		738,848
Mrs M Hearn	202,589		223,801

Mr A P Hearn (Director)
Mr A P Hearn and his immediate family have advanced loans to the company. At 31 December 2025 an amount of £695,733 (2024 - £738,848) had been advanced by Mr A P Hearn and an amount of £202,589 (2024 - £223,801) had been advanced by Mrs M Hearn. No interest has been charged by Mr A P Hearn or Mrs M Hearn on these loans in the current year (2024 - £nil). These loans are unsecured.