Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3122022-04-01No description of principal activityfalse2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04715160 2022-04-01 2023-03-31 04715160 2021-04-01 2022-03-31 04715160 2023-03-31 04715160 2022-03-31 04715160 2021-04-01 04715160 1 2022-04-01 2023-03-31 04715160 1 2021-04-01 2022-03-31 04715160 d:Director1 2022-04-01 2023-03-31 04715160 d:Director2 2022-04-01 2023-03-31 04715160 d:RegisteredOffice 2022-04-01 2023-03-31 04715160 e:FreeholdInvestmentProperty 2023-03-31 04715160 e:FreeholdInvestmentProperty 2022-03-31 04715160 e:CurrentFinancialInstruments 2023-03-31 04715160 e:CurrentFinancialInstruments 2022-03-31 04715160 e:Non-currentFinancialInstruments 2023-03-31 04715160 e:Non-currentFinancialInstruments 2022-03-31 04715160 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 04715160 e:CurrentFinancialInstruments e:WithinOneYear 2022-03-31 04715160 e:Non-currentFinancialInstruments e:AfterOneYear 2023-03-31 04715160 e:Non-currentFinancialInstruments e:AfterOneYear 2022-03-31 04715160 e:ShareCapital 2022-04-01 2023-03-31 04715160 e:ShareCapital 2023-03-31 04715160 e:ShareCapital 2021-04-01 2022-03-31 04715160 e:ShareCapital 2022-03-31 04715160 e:ShareCapital 2021-04-01 04715160 e:RevaluationReserve 2022-04-01 2023-03-31 04715160 e:RevaluationReserve 2023-03-31 04715160 e:RevaluationReserve 1 2022-04-01 2023-03-31 04715160 e:RevaluationReserve 2021-04-01 2022-03-31 04715160 e:RevaluationReserve 2022-03-31 04715160 e:RevaluationReserve 2021-04-01 04715160 e:RevaluationReserve 1 2021-04-01 2022-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2023-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2022-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2021-04-01 04715160 d:FRS102 2022-04-01 2023-03-31 04715160 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04715160 d:FullAccounts 2022-04-01 2023-03-31 04715160 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04715160 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 04715160







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


SILVERDENE PROPERTIES LIMITED






































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SILVERDENE PROPERTIES LIMITED
 


 
COMPANY INFORMATION


Directors
D P Faulkner 
G M Faulkner 




Registered number
04715160



Registered office
Silverdene
South Drive

Dorking

Surrey

RH5 4AG




Accountants
Menzies LLP
Chartered Accountants

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF





 


SILVERDENE PROPERTIES LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3 - 4
Notes to the Financial Statements
5 - 9


 


SILVERDENE PROPERTIES LIMITED
REGISTERED NUMBER:04715160



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
2
2

Investment property
 5 
2,167,407
2,167,407

  
2,167,409
2,167,409

Current assets
  

Debtors: amounts falling due within one year
 6 
40,000
55,267

Cash at bank and in hand
  
-
6,387

  
40,000
61,654

Creditors: amounts falling due within one year
 7 
(50,002)
(86,050)

Net current liabilities
  
 
 
(10,002)
 
 
(24,396)

Total assets less current liabilities
  
2,157,407
2,143,013

Creditors: amounts falling due after more than one year
 8 
(1,360,491)
(1,364,504)

Provisions for liabilities
  

Deferred tax
  
(190,515)
(144,791)

  
 
 
(190,515)
 
 
(144,791)

Net assets
  
606,401
633,718


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
571,545
617,269

Profit and loss account
  
34,854
16,447

  
606,401
633,718


Page 1

 


SILVERDENE PROPERTIES LIMITED
REGISTERED NUMBER:04715160


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

G M Faulkner
Director
Date: 30 September 2023

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 


SILVERDENE PROPERTIES LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
2
617,269
16,447
633,718


Comprehensive income for the year

Loss for the year

-
-
(23,317)
(23,317)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(23,317)
(23,317)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(4,000)
(4,000)

Transfer to/from profit and loss account
-
-
45,724
45,724

Transfer between other reserves
-
(45,724)
-
(45,724)


Total transactions with owners
-
(45,724)
41,724
(4,000)


At 31 March 2023
2
571,545
34,854
606,401


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 


SILVERDENE PROPERTIES LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2021
2
542,749
(6,760)
535,991


Comprehensive income for the year

Profit for the year

-
-
147,727
147,727


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
147,727
147,727


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(50,000)
(50,000)

Transfer to/from profit and loss account
-
-
(74,520)
(74,520)

Transfer between other reserves
-
74,520
-
74,520


Total transactions with owners
-
74,520
(124,520)
(50,000)


At 31 March 2022
2
617,269
16,447
633,718


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Silverdene Properties Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office and principle place of business is disclosed on the company information page. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Page 6

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
2



At 31 March 2023
2




Page 7

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
2,167,407



At 31 March 2023
2,167,407

The 2023 valuations were made by the directors, on an open market value for existing use basis. The directors are of the opinion that the current market values have not materially changed during the period.

2023
2022
£
£

Revaluation reserves


Revaluation reserve net of deferred tax
571,547
617,269

At 31 March 2023
571,547
617,269



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,405,347
1,405,347

1,405,347
1,405,347


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
15,268

Other debtors
40,000
39,999

40,000
55,267


Page 8

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
6,967
11,928

Bank loans
3,994
3,895

Amounts owed to group undertakings
178
-

Corporation tax
2,260
4,394

Other creditors
30,667
62,333

Accruals and deferred income
5,936
3,500

50,002
86,050



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,360,491
1,364,504

1,360,491
1,364,504


The following liabilities were secured:

2023
2022
£
£



Bank overdrafts
6,967
11,928

Bounce back loan
13,014
16,913

Property loans
1,351,471
1,351,486

1,371,452
1,380,327

Details of security provided:

Bank overdrafts are secured by way of legal charge over the assets of the company.
The Bounce back loan is secured by way of guarantee given by the U.K. Government.
Property loans are secured against the investment properties to which they relate.

 
Page 9