| Havenhill Ltd |
| Notes to the Accounts |
| for the year ended 31 August 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
33% straight line |
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Furniture & Fixtures |
25% straight line |
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Motor Vehicles |
33% straight line |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
3 |
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3 |
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| 3 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
£ |
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Cost |
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At 1 September 2024 |
1,144,167 |
|
109,695 |
|
614,060 |
|
1,867,922 |
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Additions |
- |
|
- |
|
204,372 |
|
204,372 |
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Disposals/transfers |
- |
|
- |
|
(285,253) |
|
(285,253) |
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At 31 August 2025 |
1,144,167 |
|
109,695 |
|
533,179 |
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1,787,041 |
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Depreciation |
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At 1 September 2024 |
157,735 |
|
105,459 |
|
414,206 |
|
677,400 |
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Charge for the year |
22,884 |
|
4,236 |
|
243,340 |
|
270,460 |
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On disposals/transfers |
- |
|
- |
|
(152,475) |
|
(152,475) |
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At 31 August 2025 |
180,619 |
|
109,695 |
|
505,071 |
|
795,385 |
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Net book value |
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At 31 August 2025 |
963,548 |
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- |
|
28,108 |
|
991,656 |
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At 31 August 2024 |
986,432 |
|
4,236 |
|
199,854 |
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1,190,523 |
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| 4 |
Investments |
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| Other |
| investments |
| £ |
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Cost |
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At 1 September 2024 |
76,369,992 |
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Additions/transfers and revaluations |
6,147,983 |
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Disposals |
(3,252,648) |
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At 31 August 2025 |
79,265,327 |
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Other investments |
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2025 |
|
2024 |
| £ |
£ |
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Shares in subsdiaries |
2 |
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2 |
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Freehold property |
79,265,325 |
|
76,369,990 |
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During the period the freehold property investments were revalued by the directors on a rental |
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yield basis typical for the commercial properties held by the company. |
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The properties stated on a historical basis would be £41,550,028 (2024: £43,479,131). |
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The company holds 20% or more share capital of the following companies: |
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Shares held |
Capital and |
Profit (loss) |
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Company |
Class |
reserves |
for the year |
| % |
£ |
£ |
|
Longmeadow Ltd |
Ordinary |
100 |
|
1,599,880 |
|
165,701 |
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| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
4,346,339 |
|
1,312,578 |
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Other debtors |
42,264 |
|
- |
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4,388,603 |
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1,312,578 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Loans and overdrafts |
288,840 |
|
1,272,739 |
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Trade creditors |
114,572 |
|
130,624 |
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Corporation tax |
140,035 |
|
534,220 |
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Other taxes and social security costs |
151,151 |
|
43,960 |
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Other creditors |
7,076,405 |
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13,224,137 |
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7,771,003 |
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15,205,680 |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
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Secured loans |
1,250,005 |
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- |
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The loans are secured by legal charge on a company asset. The company has a loan from the |
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Havenhill Pension Fund of £1,444,200. The loan is repayable within 5 year with an interest rate of 8.00%. |
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| 8 |
Non-distributable Profit and Loss Reserve on revaluation |
2025 |
|
2024 |
| £ |
£ |
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At 1 September 2024 |
24,668,145 |
|
19,259,840 |
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Gain on revaluation of investments |
4,824,438 |
|
7,211,074 |
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Deferred taxation arising on the revaluation of land and buildings |
(1,206,109) |
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(1,802,769) |
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At 31 August 2025 |
28,286,474 |
|
24,668,145 |
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| 9 |
Provisions |
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The provision figure of £9,428,824 (2024: £8,222,715) relates to deferred taxation arising on the revaluation of investments. |
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| 10 |
Related party transactions |
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During the year, the Company disposed of an investment property to its wholly-owned subsidiary for a fair value consideration of £3,000,000.
At the balance sheet date, the total amount outstanding from group undertakings was £4,346,339 (2024: £1,312,578). These intra-group balances are unsecured, interest-free, and repayable on demand.
During the year, the company paid dividends to directors (who are also shareholders of the company) in proportion to their shareholdings.
The total dividends paid to directors during the financial period amounted to £3,000,000 (2024: £1,640,000).
At the balance sheet date, the amounts due to the directors in respect of these dividends was £2,075,000 (2024: £Nil).
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| 11 |
Other information |
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Havenhill Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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New Marlborough House |
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90c Wrotham Road |
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Gravesend |
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Kent |
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DA11 0QQ |